Scworx Corp

SCWorx Corp. said its common stock resumed trading on The Nasdaq Capital Market on October 7, 2026, after the Nasdaq Hearings Panel granted the company's request for reconsideration of its September 17, 2026 delisting decision and determined it had regained compliance with continued listing requirements, subject to conditions including a one-year Panel Monitor. The Middleton, Massachusetts-based healthcare supply chain data management company reported second-quarter 2026 revenue of approximately $706,000, up from approximately $683,000 a year earlier, with gross profit rising approximately 83% to approximately $330,000. For the first six months of 2026, gross profit increased approximately 122% to approximately $705,000 from approximately $317,000 in the prior-year period, despite comparatively modest revenue growth of approximately $1.45 million versus approximately $1.40 million. The company's net loss for the second quarter narrowed to approximately $121,000 from approximately $1.9 million a year earlier, and its first-half net loss fell to approximately $295,000 from approximately $2.4 million, helped by the absence of approximately $1.7 million of interest expense and debt discount amortization tied to convertible notes that are no longer outstanding. Cash used in operating activities declined to approximately $258,000 in the first half of 2026 from approximately $1.1 million a year earlier, and SCWorx held cash of approximately $1.3 million at June 30, 2026, after raising gross proceeds of $938,000 in a September 2026 private placement of common stock and warrants. Chief Executive Officer Tim Hannibal said the company's focus remains on the underlying business, citing continued investment in its AI-enabled Data Management Model and new customer agreements, including a not-for-profit teaching hospital and a two-year agreement with one of Massachusetts' largest integrated delivery networks.

The Nasdaq Hearings Panel granted SCWorx Corp.'s request for reconsideration and approved the company's continued listing on The Nasdaq Capital Market, reversing the Panel's September 17, 2026 delisting decision. The Panel determined that SCWorx now meets Nasdaq's continued listing requirements, including the minimum bid price rule 5550(a)(2) and the minimum publicly held shares rule 5550(a)(4). Trading in SCWorx common stock on Nasdaq, suspended since April 14, 2026, will be reinstated on a date to be scheduled by Nasdaq, and the stock will continue to be quoted on the OTCQB Venture Market under the symbol WORX until then. The decision followed the company's September 16, 2026 private placement, which together with warrant exercises raised publicly held shares to 549,092 as of September 17, 2026, above the 500,000-share minimum, and the closing bid price has been at or above $1.00 per share every trading day since August 4, 2026. As conditions, the Panel required disclosure that each private placement investor agreed not to exercise its termination right, imposed a Discretionary Panel Monitor for a one-year period ending October 2, 2027, and required monthly reports of shares outstanding, insider holdings and public float through October 5, 2027.

SCWorx Corp. has received a partial compliance letter from the Nasdaq Hearings Panel confirming completion of the first benchmark in its plan to regain compliance for continued listing on the Nasdaq Capital Market. The company must still demonstrate a closing bid price of at least $1.00 per share for a minimum of twenty consecutive trading days under Nasdaq Listing Rule 5815(c)(4). SCWorx is also required to immediately notify Nasdaq of any material changes to its compliance plan or any event that could affect its ability to satisfy the exception. The Panel reserved the right to reconsider the terms if developments make continued listing inadvisable or unwarranted. President and CEO Tim Hannibal stated that maintaining the Nasdaq listing remains a strategic priority as the company focuses on expanding customer relationships and advancing its healthcare supply chain data management platform.

SCWorx has secured a new agreement with a prominent not-for-profit teaching hospital in Florida to provide data management and normalization services supporting the hospital's Workday implementation. Under the agreement, SCWorx will use its proprietary healthcare data management platform to cleanse, standardize, enrich, and optimize the hospital's item master and related supply chain data assets before migration into the Workday enterprise platform. The hospital selected SCWorx based on the company's extensive experience in improving supply chain data quality for healthcare providers. Financial terms of the agreement were not disclosed.