Nasdaq gives Nuvini a second chance. Will SaaS investors give it one too?

Nuvini Group Limited (NASDAQ: NVNI) has narrowly avoided delisting after the company confirmed on October 20, 2025, that it had regained full compliance with Nasdaq Listing Rule 5550(a)(2). The Brazilian SaaS acquisition platform cleared the minimum bid price hurdle by closing above US$1.00 for ten consecutive trading days, resolving the deficiency notice issued by the Nasdaq Capital Market just days earlier.

The regulatory reprieve offers Nuvini a crucial reset. It preserves the company’s public listing and keeps the door open to institutional capital—just as it doubles down on bold growth targets. Management reaffirmed full-year 2025 EBITDA guidance of R$50 to R$60 million, and added that recently signed acquisitions could push the company’s annualised run-rate EBITDA to R$85 to R$95 million by the end of Q1 2026.

For now, compliance has been restored—but the broader market remains unconvinced. The São Paulo-headquartered software consolidator must now show that it can sustain share price momentum, close its deal pipeline, and win back investor trust in a crowded Latin American SaaS field.

Why was Nuvini facing delisting from the Nasdaq and how did it avoid it?

Nuvini Group Limited had received a determination letter from Nasdaq on October 14, 2025, notifying the company that its securities would be subject to delisting based on non-compliance with the minimum bid price requirement. Under Nasdaq Rule 5550(a)(2), all listed companies must maintain a minimum bid price of US$1 per share over a rolling 30-day period. Nuvini had closed below that threshold for a prolonged period, triggering the compliance action.

However, from October 6 through October 19, 2025, the company’s stock achieved a daily closing price of at least US$1.00 for ten consecutive trading days. As a result, Nasdaq issued a formal notice on October 20 confirming that Nuvini had cured the deficiency, and the matter was closed without further action.

While compliance has been restored, the threat of another compliance warning would resurface if the stock price falls below the required threshold again, especially amid the volatility typical for small-cap growth plays in emerging markets.

What are Nuvini’s new financial targets and how credible are its EBITDA projections?

As part of its compliance update, Nuvini Group Limited reiterated its full-year 2025 EBITDA guidance of R$50 million to R$60 million, excluding the impact of additional acquisitions. At current exchange rates, this represents a target of approximately US$9.5 million to US$11.5 million, assuming a Brazilian real-to-dollar conversion range around 5.2:1.

Importantly, the company’s management also emphasized that its signed acquisition pipeline, if executed on time, could increase its annualised EBITDA run-rate to between R$85 million and R$95 million by the end of Q1 2026. That would mark a near-doubling of profitability metrics in just two quarters, raising both optimism and scrutiny from investors.

The company did not name the specific acquisition targets or disclose their contribution to top-line or margin accretion. However, its business model has consistently revolved around inorganic growth through acquiring high-margin, vertical SaaS businesses across the Latin American region.

In its latest filings, Nuvini has argued that these acquisitions allow for both operational leverage and recurring revenue expansion. Yet, as of now, investors will likely demand more granular detail around which businesses have been signed, what their margin profiles look like, and when integration will begin.

How are public market investors reacting to Nuvini’s Nasdaq compliance and what does the price move indicate?

Despite the positive regulatory news, Nuvini Group Limited shares fell 2.42% on October 20, trading around the US$1.17 level by mid-morning. The dip may reflect a classic “sell the news” pattern, as investors had already bid up the stock above the US$1 level in anticipation of a compliance resolution.

Institutional sentiment remains cautious. The Nasdaq compliance win removes a significant overhang, but the share price continues to reflect concerns about dilution risk, Brazil exposure, and whether Nuvini’s acquisition-led model can achieve scale without operational inefficiencies.

Nuvini’s market capitalisation remains relatively modest—estimated around US$45 million—which puts its implied forward EV/EBITDA multiple in the ~4.0x to 4.5x range based on its internal targets. For a SaaS operator, that is considerably below peer benchmarks, suggesting that the public market does not fully trust the forward guidance or expects capital raises that may weigh on share value.

Retail interest in the stock appears to have picked up, particularly in Latin America–themed investor communities and SaaS-focused small-cap forums. However, the company will likely need to pair its compliance milestone with operational execution if it hopes to attract sustained institutional flows.

Why maintaining a Nasdaq listing matters for Nuvini’s growth, credibility, and M&A strategy in Latin America

Remaining listed on Nasdaq is far more than a regulatory checkbox. For Nuvini Group Limited, it opens the door to institutional fundraising, capital access for acquisitions, and improved brand visibility among potential software targets in the region. A delisting would have hindered its M&A-driven business model, especially since many of its acquisition targets are founder-led companies that seek prestige in being absorbed by a publicly traded player.

From a governance standpoint, staying compliant with U.S. public market standards also reinforces investor trust. It allows Nuvini to market itself not just as a Latin American consolidator but as a globally credible operator with North American capital market access.

The company’s CEO had previously stated that Nasdaq listing status underpins its strategy to “become the main ecosystem of vertical SaaS companies in Latin America.” That positioning would be considerably harder to achieve if the stock were relegated to OTC trading or delisted altogether.

What key risks could still challenge Nuvini’s Nasdaq compliance and EBITDA growth outlook?

While the compliance milestone resets Nuvini’s short-term narrative, it does not eliminate structural risks. Chief among them is whether the company can close and integrate the signed acquisition pipeline in time to meet the Q1 2026 EBITDA target.

Other key risks include foreign exchange volatility (given its earnings are in Brazilian real while its shares trade in U.S. dollars), the risk of margin compression due to integration challenges, and the potential for shareholder dilution if Nuvini needs to raise equity capital to fund acquisitions.

Also worth monitoring is the stability of Nuvini’s share price. Any reversion below the US$1 threshold could put the company at risk of non-compliance again, restarting the Nasdaq cure process and eroding investor confidence.

In a market where small-cap SaaS names are already trading at steep discounts, the margin for error is thin.

What updates should investors expect next as Nuvini outlines its roadmap and acquisition strategy?

Nuvini Group Limited has promised to provide a roadmap outlining its long-term profitability and value-creation strategy. That roadmap—expected in the coming quarters—will likely be scrutinized for specific acquisition timelines, projected cash flow synergies, and milestones for moving toward sustained positive net income.

The company’s next major investor test will likely come when it discloses the identity and financial contribution of the acquisitions referenced in its October 20 statement. Execution on these fronts could be the catalyst for re-rating or, conversely, for investor skepticism to harden.

At present, Nuvini remains a high-risk, high-reward play for small-cap SaaS investors looking for Latin American exposure. The Nasdaq compliance update removes a major near-term threat, but it also sets a higher bar for what comes next.

Key takeaways from Nuvini’s Nasdaq compliance milestone

• Nuvini Group Limited has officially cured its Nasdaq bid-price deficiency and avoided delisting. The company achieved this by maintaining 10 consecutive trading days with a closing price above US$1.

• The company has reiterated its EBITDA guidance of R$50–60 million for 2025 and flagged a run-rate target of R$85–95 million post-acquisitions by Q1 2026.

• While the Nasdaq compliance removes one overhang, the market remains skeptical, as seen in the 2.42% drop in share price even after the announcement.

• Investors should monitor whether the company can close its signed deals, deliver operating leverage, and maintain its share price above regulatory thresholds going forward.