Broadway Financial Faces Nasdaq Non-Compliance Notice: Company Receives 60-Day Extension to File Form 10-Q

Broadway Financial (BYFC) received a Nasdaq non-compliance notice due to late filing of its Form 10-Q for Q2 2025. The delay was attributed to evaluating participation agreements for accounting standards compliance. Nasdaq has given the company 60 days to submit a compliance plan, with a potential extension until February 16, 2026. The company aims to file the Form 10-Q promptly.

Broadway Financial Corporation (BYFC) has received a non-compliance notice from Nasdaq due to the delayed filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. The stock, currently trading at $7.31, has gained nearly 6% year-to-date according to InvestingPro data [2].

The notice, dated August 21, 2025, indicates that Broadway is not in compliance with Nasdaq Listing Rule 5250(c)(1) after failing to file its Form 10-Q within the required timeframe. Nasdaq has provided the company 60 calendar days to submit a plan to regain compliance, with the option to extend the deadline to February 16, 2026 [1].

According to the company’s statement, the notification does not immediately affect the listing or trading of Broadway’s shares on the Nasdaq Capital Market. However, the company acknowledged that further delays could potentially impact its listing status.

The delay was attributed to evaluating participation agreements for compliance with accounting standards and completing the review of financial statements for adequate disclosure. Broadway Financial Corporation operates through its banking subsidiary, City First Bank, which serves low-to-moderate income communities in Southern California and Washington, D.C.

The company expects to file the Form 10-Q "as promptly as reasonably practicable" and before the 60-day deadline for submitting its compliance plan. Nasdaq may grant the company up to 180 days from the original due date to file the delayed report and regain compliance if the compliance plan is accepted.

This information is based on a press release statement from the company.

References:
[1] https://www.ainvest.com/news/broadway-financial-corporation-receives-nasdaq-notice-late-filing-form-10-2508/
[2] https://www.investing.com/news/company-news/broadway-financial-receives-nasdaq-noncompliance-notice-over-delayed-filing-93CH-4207565