Triller Group has secured additional time from the Nasdaq Stock Market to file overdue financial reports after receiving a delinquency notice for missing three consecutive quarterly filings.
The Los Angeles-based viral music video app operator on Friday (August 22) said it failed to submit its annual 10-K report for the year ended December 31, 2024, along with quarterly 10-Q reports for the periods ending March 31 and June 30, 2025.
Under Nasdaq’s listing rules, companies have to file these reports on schedule with the Securities and Exchange Commission.
Nasdaq initially flagged the violations on August 19, sending Triller a delinquency notification letter.
That same day, the exchange granted the company an extension until October 13 to bring its filings up to date. Missing the deadline could result in delisting from the stock exchange.
Triller on Friday said: “The Company is working diligently to complete its Delinquent Filings and expects to file its Delinquent Filings as soon as practicable.”
The filing delays signal ongoing challenges at Triller. In March, Triller, dubbed as TikTok’s rival, was sued by Merlin, the digital music licensing group for indie labels, distributors, and other rightsholders, over allegedly violating a licensing agreement signed in 2020.
Merlin says it found out via a previous lawsuit against Triller (filed in 2022) that the short-form video platform had offered higher fees to another record company.
While Merlin didn’t indicate the other music company, reports in August 2022 suggest that it was Sony Music Entertainment. The music giant sued Triller at the time, alleging non-payment of “millions” of dollars in licensing fees for Sony-owned music used on the platform.
In 2023, Triller was also sued by Universal Music Group over unpaid licensing fees. In late 2024, a hedge fund owned by investment manager Yorkville Advisors sued Triller over an allegedly unpaid debt of $33.5 million. That debt had been taken on by AGBA, which merged with Triller in October 2024, making Triller a publicly traded company on the Nasdaq.
The latest Nasdaq warning follows years of efforts by Triller to go public. Its efforts included a proposed SPAC merger with SeaChange International, targeting an initial valuation of $5 billion, in 2022.
When that fell through, the company then aimed for a direct listing, in what it said would be “the largest creator IPO in history.”
That, too, failed to materialize, and the company launched yet another bid in 2023 before announcing the AGBA merger in April 2024.
As MBW previously reported at the time when the company went public, both of businesses that comprise Triller Group — AGBA and Triller – showed signs of financial strain before the merger. In the first half of 2024, AGBA reported a 55.8% YoY drop in revenues, weighed down by a steep drop in commissions, which it attributed to “the economic recession [in China] and outward migration in Hong Kong.”
Meanwhile, in an SEC filing published before its planned IPO, Triller revealed that it owed music rightsholders $23.6 million in unpaid fees. The company, which had raised more than $420 million from investors, had less than $1 million in cash and cash equivalents on hand at the time it went public.
Shares of Triller closed 5.8% higher on Friday (August 22), reaching a market cap of $95.44 million. Year-to-date, its shares fell 79%.
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