Evolv Technologies (EVLV) said Tuesday that it received a non-compliance notice from Nasdaq for delayed filing of its annual report on Form 10-K for the period ended Dec. 31, 2024.

The company said the filing was delayed due to an internal investigation into certain sales practices, which affected revenue recognition and other key metrics and required the restatement of certain financial statements.

In response to an earlier non-compliance notice from Nasdaq relating to delay in the company's quarterly report on Form 10-Q for the period ended Sept. 30, 2024, the company submitted a plan to regain compliance with the listing rule and the bourse granted the company an exception until May 19 to file the quarterly report.

As a result, any additional Nasdaq exception to allow Evolv to regain compliance will be limited to a maximum of 180 calendar days from May 19, the company said.