diff --git a/gradle.properties b/gradle.properties
index 8b40cf2..926236f 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -14,7 +14,7 @@
 
 org.gradle.caching=true
 group=io.ballerina
-version=1.3.0-SNAPSHOT
+version=1.2.2-SNAPSHOT
 
 ballerinaLangVersion=2201.9.0-20240403-114600-ceb51559
 ballerinaTomlParserVersion=1.2.2
@@ -24,7 +24,7 @@ openTelemetryVersion=1.7.0
 nettyCodecVersion=4.1.100.Final
 gsonVersion=2.10.1
 
-observeVersion=1.3.0-20240404-105200-2df1ef5
+observeVersion=1.2.3-20240403-143400-5f0247b
 
 # Test Dependency Versions
 testngVersion=7.6.1