Veradigm ( (MDRX) ) has released a notification of late filing.
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Veradigm Inc. has filed a Form 12b-25 indicating a delay in submitting its Form 10-Q (Quarter Report) for the quarter ended March 31, 2026, extending an already long stretch of late filings. The company is still working through knock-on effects from earlier misstatements and restatements covering fiscal years 2020 through 2022 and multiple interim periods.
Those misstatements were tied to internal control failures that affected previously issued revenue figures and other financial data, forcing Veradigm to restate past results and delaying its Form 10-K (Yearly Report) for 2022 until March 18, 2025. Because of the time spent on investigations, audits, and remediation, the company has been unable to file its 2023, 2024, and 2025 Form 10-Q (Quarter Report) filings, as well as the Form 10-K (Yearly Report) filings for those years.
Veradigm now labels this stack of missing reports as “Historical Late Filings,” which includes every Form 10-Q (Quarter Report) from Q1 2023 through Q3 2025 and the Form 10-K (Yearly Report) for 2023, 2024, and 2025. The company states it is working diligently to clear this backlog and file the Q1 2026 Form 10-Q (Quarter Report), but it does not provide a firm deadline or assurance on the exact timing.
The prolonged reporting delays have already had a market impact: in early 2024, Nasdaq determined that Veradigm failed to meet listing requirements tied to timely SEC reports and annual shareholder meetings. Nasdaq subsequently moved to delist the company’s common stock, and a Form 25 was filed with the SEC on April 25, 2024, removing Veradigm from The Nasdaq Global Select Market.
In its current notification, Veradigm notes that it does not expect a significant change in results of operations versus the same quarter a year earlier once the Q1 2026 Form 10-Q (Quarter Report) is filed. However, the company cautions that ongoing remediation, audits for 2023–2025, and the possibility of further control deficiencies could still uncover additional errors, so investors should treat all such statements as forward-looking and subject to change.
Management highlights additional risks tied to being off a national exchange, potential deregistration, litigation over prior financial statements, and new debt under a $100 million senior secured term loan entered in June 2025. The filing underscores that Veradigm aims to restore timely reporting and internal control reliability, and it is formally signed on May 12, 2026, by Interim Chief Financial Officer Leland Westerfield, signaling executive responsibility for the company’s ongoing compliance efforts.
The most recent analyst rating on (MDRX) stock is a Buy with a $8.00 price target. To see the full list of analyst forecasts on Veradigm stock, see the MDRX Stock Forecast page.
More about Veradigm
Average Trading Volume: 120,906
Technical Sentiment Signal: Sell
Current Market Cap: $485.2M
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