Quantum Corporation (QMCO)

Quantum Reports Fiscal Fourth Quarter and Full Year 2026 Financial ResultsJune 25, 2026 4:10 PM
Business Wire Fourth Quarter Revenue Increases 27% Year-over-Year to $78.0 Million Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company"), today announced financial results for its fiscal fourth quarter and full year 2026 ended March 31, 2026. Fiscal Fourth Quarter 2026 Financial Summary Revenue increased 27% year-over-year to $78.0 million, exceeding guidance of $68 million, plus or minus $2 million GAAP operating expenses were $30.4 million; non-GAAP adjusted operating expenses were $27.5 million, reflecting a $2.0 million year-over-year reduction GAAP net loss was $9.5 million, or ($0.66) per share Non-GAAP adjusted net loss was $3.1 million, or ($0.21) per share, which is a $9 million improvement year-over-year Adjusted EBITDA was $1.0 million “Quantum delivered strong fourth quarter results with revenue of $78 million, representing 27% growth year-over-year. This performance reflects robust demand for our tiered storage solutions as the proliferation of AI-driven data rapidly reshapes the industry and enterprise storage infrastructure requirements,” commented Hugues Meyrath, CEO of Quantum. “With the exploding volume of data, rising storage costs, and increasing power constraints, organizations are rethinking how they store, manage, and protect their most valuable assets. Quantum is uniquely positioned to help customers reduce their dependence on constrained, high-cost components with differentiated, power-efficient storage solutions that provide long-term data resilience. “As we look to fiscal 2027, Quantum is operating from a position of renewed strength and expanding strategic relevance. Over the past year, we have transformed our business by significantly lowering our cost structure, while also sharpening our sales execution and go-to-market strategy. And more recently, we successfully completed a series of transactions that eliminated our outstanding debt and added cash to the balance sheet in support of our growth initiatives. Although supply chain constraints remain an industry-wide challenge, we are seeing clear momentum in our pipeline and backlog. We remain committed to executing with discipline as we continue to drive toward long-term sustainable growth, margin expansion and value creation for our shareholders.” Fiscal Fourth Quarter 2026 vs. Prior Fiscal Year Revenue for the fiscal fourth quarter of 2026 was $78.0 million, compared to $61.3 million in the prior year fourth quarter. GAAP gross profit in the fiscal fourth quarter of 2026 was $27.8 million, or 35.7% of revenue, compared to $24.2 million, or 39.6% of revenue, in the fiscal fourth quarter of 2025. Total GAAP operating expenses in the fiscal fourth quarter of 2026 were $30.4 million, or 39.0% of revenue, compared to $35.8 million, or 58.5% of revenue, in the prior year. Total operating expenses on a non-GAAP basis for the fiscal fourth quarter of 2026 were $27.5 million, compared to $29.4 million in the fiscal fourth quarter of 2025. GAAP net loss in the fiscal fourth quarter of 2026 was $9.5 million, or ($0.66) per share, compared to a net loss of $7.7 million, or ($1.26) per share, in the fiscal fourth quarter of 2025. Excluding stock compensation, restructuring charges and other non-recurring costs, non-GAAP adjusted net loss in the fiscal fourth quarter of 2026 was $3.1 million, or ($0.21) per share, compared to adjusted net loss of $12.1 million, or ($1.98) per share, in the prior year fourth quarter. Non-GAAP adjusted EBITDA in the fiscal fourth quarter of 2026 was $1.0 million, compared to negative $3.9 million in the fiscal fourth quarter of 2025. For a reconciliation of GAAP to non-GAAP financial results, please see the financial reconciliation tables below. Liquidity and Debt (as of March 31, 2026) Cash, cash equivalents and restricted cash were $16.2 million, compared to $16.6 million as of March 31, 2025. Total interest expense for the three- and twelve-month periods were $2.9 million and $21.6 million, respectively, compared to $6.8 million and $24.0 million for the same periods a year ago. Outstanding term loan debt, excluding debt issuance costs, was $55.9 million, compared to $102.5 million as of March 31, 2025. The new convertible note was fair valued at $90.0 million. Business Outlook Fiscal first quarter 2027 guidance is as follows: Revenue of $75.0 million, plus or minus $2 million Non-GAAP adjusted operating expenses of $27 million, plus or minus $1 million Non-GAAP adjusted basic net loss per share of ($0.15), plus or minus $0.10 Non-GAAP adjusted EBITDA of $1.5 million, plus or minus $1 million This assumes an effective annual tax rate of 3%; non-GAAP adjusted net loss per share assumes an average basic share count of approximately 24 million in the fiscal first quarter of 2027. Conference Call and Webcast Management will host a live conference call today at 5:00 p.m. ET (2:00 p.m. PT) to discuss these results. The conference call will be accessible by dialing 1-866-424-3436 (U.S. Toll-Free) or +1-201-689-8058 (International) and entering conference ID 13760869. This conference call will be broadcast live over the Internet with a slide presentation and can be accessed by all interested parties on the investor relations section of the Company's website at www.investors.quantum.com under the events and presentations tab. A telephone replay of the conference call will be available approximately two hours after the conference call and will be available through July 1, 2026. To access the replay dial 1-877-660-6853 and enter the conference ID 13760869 at the prompt. International callers should dial +1-201-612-7415 and enter the same conference ID. Following the conclusion of the live call, a replay of the webcast will be available on the Company's website at www.quantum.com for at least 90 days. About Quantum Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset - their data. For more information visit www.quantum.com. Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners. Forward-Looking Information The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, in particular, statements related to future projections of our financial results, including for the fourth fiscal quarter of 2026; expectations related to the continued benefits of our revitalized sales organization and restructuring initiatives; expectations regarding our pipeline and backlog; expectations regarding market demand for AI-ready infrastructure leveraging our integrated platform solutions; the evaluation of options with respect to our remaining term debt in furtherance of our goal of further strengthening our balance sheet; and our focus, goals, opportunities and strategy. These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets”, “will”, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: risks related to the need to address the many challenges facing our business; the impact macroeconomic and inflationary conditions on our business, including potential disruptions to our supply chain, employees, operations, sales and overall market conditions; the competitive pressures we face; risks associated with executing our strategy; the timing, execution and realization of anticipated benefits from our sales organization revitalization and restructuring initiatives; the distribution of our products and the delivery of our services effectively; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the outcome of any legal proceedings, claims and disputes; the ability to meet stock exchange continued listing standards; risks related to our ability to implement and maintain effective internal control over financial reporting in the future; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K filed with the SEC on August 26, 2025, and any subsequent reports filed with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. QUANTUM CORPORATION CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts)     March 31,   2026   2025 Assets       Current assets:       Cash and cash equivalents $ 15,572     $ 16,464   Restricted cash   662       139   Accounts receivable, net of allowance for credit losses of $3,234 and $99, respectively   69,650       52,502   Inventories   16,103       22,434   Prepaid expenses   2,431       2,738   Other current assets   8,068       8,529   Total current assets   112,486       102,806           Property and equipment, net   9,284       11,378   Intangible assets, net   —       281   Goodwill   12,969       12,969   Right-of-use assets, net   7,416       8,580   Other long-term assets   14,737       19,388   Total assets $ 156,892     $ 155,402   Liabilities and Stockholders’ Deficit       Current liabilities:       Accounts payable $ 29,342     $ 31,463   Accrued compensation   11,862       9,214   Deferred revenue, current portion   75,654       75,076   Accrued restructuring charges   566       786   Term debt   54,811       96,486   Revolving credit facility   —       26,600   Warrant liabilities   14,105       —   Other accrued liabilities   19,457       17,982   Total current liabilities   205,797       257,607   Deferred revenue, net of current portion   39,030       38,847   Convertible note   90,034       —   Operating lease liabilities   8,172       8,934   Other long-term liabilities   12,716       14,380   Total liabilities   355,749       319,768   Commitments and contingencies (Note 10)       Stockholders’ deficit       Preferred stock:       Preferred stock, 20,000 shares authorized; no shares issued as of March 31, 2026 and 2025, respectively   —       —   Common stock:       Common stock, $0.01 par value; 225,000 shares authorized; 14,638 and 6,962 shares issued and outstanding at March 31, 2026 and 2025, respectively   146       70   Additional paid-in capital   853,974       779,645   Accumulated deficit   (1,043,517 )     (942,471 ) Accumulated other comprehensive loss   (9,460 )     (1,610 ) Total stockholders' deficit   (198,857 )     (164,366 ) Total liabilities and stockholders' deficit $ 156,892     $ 155,402   QUANTUM CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except per share amounts)     Year Ended March 31,   2026   2025 Revenue       Product $ 172,385     $ 154,182   Service and subscription   99,226       110,658   Royalty   7,970       9,218   Total revenue   279,581       274,058   Cost of revenue       Product   136,199       119,730   Service and subscription   40,341       44,496   Total cost of revenue   176,540       164,226   Gross profit   103,041       109,832   Operating expenses       Sales and marketing   52,016       52,320   General and administrative   43,917       63,961   Research and development   23,503       31,141   Restructuring charges   8,112       4,090   Total operating expenses   127,548       151,512   Loss from operations   (24,507 )     (41,680 ) Other expense, net   (1,511 )     (710 ) Interest expense   (21,575 )     (23,607 ) Change in fair value of warrant liability   11,315       (45,270 ) Change in fair value of convertible note   (4,119 )     —   Loss on debt extinguishment, net   (59,641 )     (3,003 ) Loss before income taxes   (100,038 )     (114,270 ) Income tax provision   1,008       821   Net loss $ (101,046 )   $ (115,091 )         Net loss per share - basic and diluted $ (7.97 )   $ (22.35 ) Weighted average shares - basic and diluted   12,674       5,150           Net loss $ (101,046 )   $ (115,091 ) Change in fair value of convertible note   (8,444 )     —   Foreign currency translation adjustments, net   594       583   Total comprehensive loss $ (108,896 )   $ (114,508 ) QUANTUM CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS   (in thousands) Year Ended March 31,   2026   2025 Operating activities       Net loss $ (101,046 )   $ (115,091 ) Adjustments to reconcile net loss to net cash used in operating activities:       Depreciation and amortization   5,282       5,598   Amortization of debt issuance costs   6,613       5,475   Non-cash lease expense   1,277       1,606   Paid-in-kind interest   6,598       5,179   Provision for manufacturing and service inventories   5,333       4,877   Bad debt expense   2,733       77   Stock-based compensation   (849 )     2,828   Warrants issued in connection with debt amendments   25,420       —   Change in fair value of warrant liabilities   (11,315 )     45,270   Change in fair value of convertible note   4,119       —   Non-cash loss on debt extinguishment   34,221       3,003   Other non-cash   (331 )     16   Changes in assets and liabilities:       Accounts receivable   (19,881 )     15,209   Inventories   944       801   Accounts payable   (793 )     6,154   Prepaid expenses   307       (552 ) Operating lease liabilities   (931 )     (1,490 ) Deferred revenue   760       (2,764 ) Accrued restructuring charges   (220 )     786   Accrued compensation   2,647       (9,000 ) Other assets   686       2,110   Other liabilities   570       6,295   Net cash used in operating activities   (37,856 )     (23,613 ) Investing activities       Purchases of property and equipment   (1,706 )     (4,947 ) Net cash used in investing activities   (1,706 )     (4,947 ) Financing activities       Borrowings of long-term debt, net of debt issuance costs   45,045       25,000   Borrowing of convertible note   54,718       —   Repayment of long-term debt   —       (19,129 ) Repayments of long-term debt on Assignment   (52,270 )     —   Repayments of long-term debt on Exchange   (56,979 )     —   Borrowings of credit facility   102,914       416,418   Repayments of credit facility and payment of amendment fees   (129,514 )     (418,811 ) Proceeds from shares related to the SEPA, net   75,174       15,828   Proceeds from issuance of common stock, net   80       —   Net cash provided by financing activities   39,168       19,306   Effect of exchange rate changes on cash and cash equivalents   25       (3 ) Net change in cash, cash equivalents, and restricted cash   (369 )     (9,257 ) Cash, cash equivalents, and restricted cash at beginning of year   16,603       25,860   Cash, cash equivalents, and restricted cash at end of year $ 16,234     $ 16,603   Supplemental disclosure of cash flow information       Cash paid for interest $ 5,170     $ 11,927   Cash paid for income taxes, net of refunds $ 1,194     $ 1,814   Non-cash transactions       Purchases of property and equipment included in accounts payable $ 116     $ 850   Right-of-use assets obtained in exchange for new lease liabilities $ 112     $ 678   Warrants issued $ 25,420     $ —           The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 15,572     $ 16,464   Restricted cash   662       139   Total cash, cash equivalents and restricted cash at the end of year $ 16,234     $ 16,603   NON-GAAP FINANCIAL MEASURES To provide investors with additional information regarding our financial results, we have presented certain non-GAAP financial measures in this press release, including non-GAAP adjusted operating expenses. Non-GAAP adjusted operating expenses is a non-GAAP financial measure defined by us as GAAP operating expenses with stock-based compensation expense, restructuring charges, amortization of acquisition related intangible assets and non-recurring project costs removed. We have provided below a reconciliation of non-GAAP adjusted operating expenses, to the most directly comparable U.S. GAAP financial measure. We believe that the exclusion of the amounts eliminated in this calculation can provide a useful measure for period-to-period comparisons of our core business performance. Accordingly, we believe that the use of non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and our board of directors. Our use of non-GAAP financial measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our financial results as reported under U.S. GAAP. Other companies, including companies in our industry, may calculate non-GAAP financial measures differently, which reduces its usefulness as a comparative measure. Because of these and other limitations, you should consider non-GAAP adjusted operating expenses along with other U.S. GAAP-based financial performance measures, including various cash flow metrics and our U.S. GAAP financial results. Non-GAAP adjusted EBITDA   Quarter Ended March 31,   2026   2025 GAAP net loss (9,541 )   (7,744 ) Provision for income taxes 38     146   Interest expense, net 2,899     6,847   Depreciation and amortization expense 1,208     1,627   Stock-based compensation expense 324     452   Restructuring charges 1,049     1,906   Fair value of warrants adjustment (2,230 )   (11,145 ) Fair value of convertible note adjustment 5,718     0   Non-recurring project costs 1,573     3,974   Adjusted EBITDA 1,038     (3,937 ) Non-GAAP adjusted net loss and net loss per share   Quarter Ended March 31,   2026   2025 GAAP net loss (9,541 )   (7,744 ) Depreciation and amortization expense 1,208     1,627   Stock-based compensation expense 324     452   Interest expense, net 0     188   Restructuring 1,049     1,906   Fair value of warrants adjustment (2,230 )   (11,145 ) Fair value of convertible note adjustment 5,718     0   Non-recurring project costs 1,573     3,974   Non-GAAP adjusted net loss 3,107     (12,140 ) Non-GAAP adjusted net loss per share – basic and diluted ($0.21 )   ($1.98 ) Weighted average shares – basic and diluted 14,497     6,125   Non-GAAP cost of goods sold   Quarter Ended March 31,   2026   2025 GAAP cost of revenue 50,149   37,021   Stock-based compensation expense 12     (12 ) Restructuring 0     (157 ) Non-GAAP cost of revenue 50,161     36,851   Non-GAAP gross profit and gross margin   Quarter Ended March 31,   2026   2025 GAAP Revenue 77,994     61,262   Non-GAAP cost of revenue 50,161     36,851   Non-GAAP gross profit 27,833     24,411   Non-GAAP gross margin 35.7 %   39.8 % Non-GAAP operating expenses   Quarter Ended March 31,   2026   2025 GAAP operating expenses 30,409     35,835   Stock-based compensation expense 336     440   Restructuring charges 1,049     1,749   Amortization of acquisition-related intangible assets 0     228   Non-recurring project costs? 1,573     3,974   Non-GAAP operating expenses 27,451     29,443     View source version on businesswire.com: https://www.businesswire.com/news/home/20260625779950/en/ Investor Relations Contacts:
Shelton Group
Leanne K. Sievers | Brett L. Perry
E: sheltonir@sheltongroup.com Media Contact:
Matter Communications
Sara Beth Fahey
E:

Quantum to Announce Fiscal Fourth Quarter and Full Year 2026 Financial Results on June 25, 2026June 24, 2026 4:45 PM
Business Wire Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company"), today announced it will release fiscal fourth quarter and full year 2026 financial results on Thursday, June 25, 2026 after market close. Hugues Meyrath, Chief Executive Officer, and William White, Chief Financial Officer, will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss the Company’s financial results and business outlook. Analysts and investors are invited to join the conference call using the following information: Date: Thursday, June 25, 2026
Time: 5:00 p.m. ET (2:00 p.m. PT)
Conference Call Number: 1-866-424-3436
International Call Number: +1-201-689-8058
Confirmation ID: 13760869
Webcast link: Click Here A telephone replay of the conference call will be available approximately two hours after the conference call and will be available through July 1, 2026. To access the replay dial 1-877-660-6853 and enter the conference ID 13760869 at the prompt. International callers should dial +1-201-612-7415 and enter the same conference ID. Following the conclusion of the live call, a replay of the webcast will be available on the Company's website for at least 90 days. About Quantum Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset - their data. For more information visit www.quantum.com. Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners. View source version on businesswire.com: https://www.businesswire.com/news/home/20260624463193/en/ Investor Relations Contacts:
Shelton Group
Leanne K. Sievers | Brett L. Perry
E: sheltonir@sheltongroup.com Original: Quantum to Announce Fiscal Fourth Quarter and Full Year 2026 Financial Results on June 25, 2026

QMCO Institutional Holdings
Ownership Summary
Institutional Ownership 15.48%
Total Shares Outstanding (millions) 15
Total Value of Holdings (millions) $34

Active Positions | Holders | Shares
Increased Positions | 21 | 1,157,637
Decreased Positions | 22 | 631,176
Held Positions | 7 | 476,901
Total Institutional Shares | 50 | 2,265,714

https://www.nasdaq.com/market-activity/stocks/qmco/institutional-holdings

$QMCO 💹

Quantum to Participate in the Northland Growth Conference on June 23June 17, 2026 4:30 PM
Business Wire Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company"), today announced that William White, Chief Financial Officer, will participate virtually at the Northland Securities Growth Conference on Tuesday, June 23, 2026 and will be available to host scheduled conference calls with participating investors throughout the day. Portfolio managers and analysts who would like to request a meeting with management should contact their Northland Securities representative. About Quantum Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset – their data. For more information visit www.quantum.com. Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners. View source version on businesswire.com: https://www.businesswire.com/news/home/20260617970628/en/ Investor Relations Contact:
Shelton Group
Leanne K. Sievers | Brett L. Perry
E: sheltonir@sheltongroup.com Original: Quantum to Participate in the Northland Growth Conference on June 23

Quantum Corporation Files Form 12b-25 Notification of Late FilingJune 15, 2026 8:43 AM
Business Wire Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company") today announced that it has filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission with respect to its Annual Report on Form 10-K for the fiscal year ended March 31, 2026 ("Fiscal 2026"). The Company intends to file its Annual Report on Form 10-K as soon as practicable, and in any event on or before June 29, 2026, the fifteenth calendar day following the original due date, as provided under Rule 12b-25. In June 2026, the Company completed a series of transactions that significantly strengthened its balance sheet. The preparation, execution, and financial reporting for these transactions, which were completed on June 4, 2026, required substantial and sustained focus from the Company's senior management in the period leading up to the original filing deadline. As a result, the Company is working with its independent registered public accounting firm to complete the audit of its financial statements and related procedures and requires additional time to do so. Fiscal 2026 is also the first year in which the Company's financial statements have been audited by its current independent registered public accounting firm, which has involved additional first-year audit procedures. In addition, the Company became an accelerated filer beginning with its Fiscal 2026 Form 10-K, which subjects the Company to an earlier filing deadline than in the prior two fiscal years and, in connection with the change in filer status, to additional procedures relating to management's assessment of, and its independent auditors' attestation report on, the Company's internal control over financial reporting. The Company does not currently expect the delay to affect its previously announced preliminary unaudited financial results for the fourth quarter of Fiscal 2026 or its financial statements for any prior fiscal period. The Company will reschedule its earnings release and conference call for the fiscal fourth quarter and full year 2026, previously scheduled for June 15, 2026, and will announce the new date and time once the filing date of its Form 10-K is confirmed. About Quantum Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset - their data. For more information visit www.quantum.com. Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners. Forward-Looking Information The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, in particular, statements related to the ongoing audit procedures, including timing and expected outcome; statements regarding the cause of the delay in filing the Form 10-K; the expectation that the Company will file the Form 10-K within the Rule 12b-25 extension period; the Company’s belief that the delay will not affect its previously announced preliminary unaudited financial results for its fiscal fourth quarter of Fiscal 2026, or its financial statements for any prior fiscal periods; and the Company’s plans, objectives and intentions. These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets”, “will”, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: the risks related to the completion of the Company’s annual financial close process and the independent auditors’ review and audit of the Company’s financial statements for Fiscal 2026; the discovery of additional and unanticipated information during the procedures required to be completed before the Company is able to file the Form 10-K; the completion of the Company’s Fiscal 2026 audit and any adjustments resulting therefrom; any changes to the assumptions underlying the Company’s closing process and auditors’ audit; risks related to legal proceedings and investigations; risks related to the Company’s ability to implement and maintain effective internal control over financial reporting; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K filed with the SEC for the fiscal year ended March 31, 2025, and any subsequent reports filed with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260614692505/en/ Investor Relations Contacts:
Shelton Group
Leanne K. Sievers | Brett L. Perry
E: sheltonir@sheltongroup.com Original: Quantum Corporation Files Form 12b-25 Notification of Late Filing

Quantum Appoints Storage Industry Veteran Greg Knieriemen as Vice President of Marketing

June 11, 2026

Brings two decades of enterprise storage marketing, technology evangelism, and sales enablement experience to support Quantum’s growth strategy focusing on how organizations can manage data efficiently and cost-effectively

CENTENNIAL, Colo.--(BUSINESS WIRE)-- Quantum Corporation (Nasdaq: QMCO) today announced the appointment of Greg Knieriemen as Vice President, Marketing, and Senior Technology Advocate. In this role, he will lead Quantum’s global corporate and product marketing, focusing on strengthening its positioning, driving demand, and building stronger relationships with customers and partner channels.

Knieriemen will also focus on amplifying how Quantum supports organizations in managing rapidly growing volumes of data. This includes enabling the right data to be stored in the right place at the right time to balance cost, performance, and accessibility, and support more efficient and sustainable long-term data management. As part of his role, Knieriemen will strengthen Quantum’s technology advocacy efforts, focusing on translating complex data storage and management capabilities into compelling stories that highlight the business value Quantum delivers to customers and partners, as well as engaging with the broader industry.

Knieriemen brings more than two decades of experience at the intersection of enterprise technology, storytelling, and customer growth to Quantum. He joins the company from Hitachi Vantara, where he led Global Sales Enablement, modernizing programs to improve seller productivity, aligning messaging with go-to-market priorities, and introducing AI-powered tools to support sales field execution.

“Greg is a rare combination of strategic marketing leadership and authentic technical credibility,” said Tony Craythorne, Quantum’s Chief Revenue Officer. “He has built compelling market narratives, led successful evangelism programs, and helped connect complex technologies to real customer value. Greg will play a critical role in articulating how we empower customers to manage data more efficiently, enabling the right data to be in the right place at the right time, and driving demand across all of Quantum’s markets.”

“Across today’s data rich environments, organizations are under increasing pressure to manage rapidly growing data volumes while balancing cost, performance, and efficiency,” said Knieriemen. “Quantum supports organizations in storing and managing that data more efficiently, while maintaining control over cost, complexity, and power consumption, and enabling more sustainable long-term data retention. The opportunity is to simplify how we communicate our value, focus on our customers' priorities, and enable our partners to engage and sell more effectively. My priority is to make our messaging cleaner, crisper, and firmly aligned to the realities customers are facing today.”

Earlier in his career, Knieriemen held senior marketing and product marketing roles at Hitachi Data Systems and NetApp, where he developed corporate messaging frameworks, built and led global evangelism initiatives, directed PR and analyst relations programs, and supported demand generation across hybrid cloud, data storage, and infrastructure businesses.

Knieriemen also brings deep channel and partner marketing experience to the role, having previously served as Vice President of Marketing at Chi Corporation, a longtime Quantum channel partner, where he combined strategic marketing leadership with hands-on technical knowledge in storage, networking, and virtualization.

In addition, he is widely recognized in the industry as a technology evangelist, having founded and co-hosted Speaking in Tech, one of the first enterprise technology podcasts, which grew to over 50,000 monthly downloads.

Knieriemen’s appointment reflects Quantum’s continued investment in strengthening its go-to-market capabilities, elevating its brand and market presence, and ensuring its value is clearly understood by customers and partners across enterprise storage, data management, and data protection.

About Quantum
Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset – their data. For more information visit www.quantum.com.

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$QMCO 🗞️

$16.50+ 😃

==================

Quantum Corp price target raised to $20 from $8 at Lake Street

June 3, 2026

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Quantum Announces Preliminary Fiscal Fourth Quarter 2026 Financial ResultsJune 2, 2026 8:20 AM
Business Wire Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company"), today announced select preliminary unaudited financial results for its fiscal fourth quarter of 2026 ended March 31, 2026. Based on unaudited financials, the Company expects the following: Revenue of approximately $77.5 million, plus or minus $2 million, above the high-end of the guided range of $68 million, plus or minus $2 million GAAP operating expenses of approximately $30.5 million Cash of approximately $15.5 million Quantum expects to report its full results for the fiscal fourth quarter and full fiscal year of 2026 by mid-June 2026. About Quantum Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset – their data. For more information visit www.quantum.com. Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners. Forward-Looking Information The results reported in this press release are preliminary and unaudited and are subject to change. The Company has not yet completed its financial close process for the fiscal fourth quarter of 2026. The financial results in this earnings report does not present all necessary information for an understanding of the Company’s results of operations for the fiscal fourth quarter of 2026. As the Company completes its financial close process and finalizes its financial statements, and as its independent auditors complete their review of the Company’s financial statements, it is possible the Company may identify items that require adjustments to the preliminary financial information set forth in this press release, and those changes could be material. The Company does not intend to update such financial information prior to the filing of its Form 10-K with the Securities and Exchange Commission (the “SEC”) for the fiscal year ended March 31, 2026, except as otherwise required by law. The information provided in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, in particular, statements related to our preliminary unaudited financial results for the fiscal fourth quarter ended March 31, 2026, including the timing of reporting such results. These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets”, “will”, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: risks related to the completion of the Company’s annual financial close process and the independent auditors’ review and audit of the Company’s financial statements for the full fiscal year; any changes to the assumptions underlying the Company’s closing process and auditors’ review; risks that the Company may identify additional items that require adjustments to the preliminary financial information; risks related to the need to address the many challenges facing our business; the impact macroeconomic and inflationary conditions on our business, including potential disruptions to our supply chain, employees, operations, sales and overall market conditions; the competitive pressures we face; risks associated with executing our strategy; the distribution of our products and the delivery of our services effectively; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the outcome of any legal proceedings, claims and disputes; the ability to meet stock exchange continued listing standards; risks related to our ability to implement and maintain effective internal control over financial reporting in the future; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the SEC, including our Annual Report on Form 10-K filed with the SEC on August 26, 2025, and any subsequent reports filed with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260601662851/en/ Investor Relations Contacts:
Shelton Group
Leanne K. Sievers | Brett L. Perry
E: sheltonir@sheltongroup.com Media Contact:
Matter Communications
Sara Beth Fahey
E:

Quantum Announces Equity Financing to Strengthen Balance Sheet and Support GrowthJune 2, 2026 8:22 AM
Business Wire Quantum to Eliminate All Debt with Combination of Debt Payoff and Conversion Three concurrent transactions improve liquidity, significantly strengthening the Company’s balance sheet and providing capital to invest in growth Quantum Corporation (Nasdaq: QMCO) today announced three concurrent transactions that together are expected to significantly strengthen the Company’s balance sheet and provide capital for growth. First, the Company has entered into securities purchase agreements to sell shares of common stock in a private placement, which was led by funds managed by Two Seas Capital LP and Oaktree Capital Management, L.P., with participation from several other institutional investors, generating gross proceeds of $100.0 million. Second, the Company intends to repay all of its outstanding term debt with a portion of the proceeds of the private placement. Third, Dialectic Technology SPV LLC, as sole beneficial owner of the Company’s Senior Secured Convertible Notes, has agreed to voluntarily convert the entire outstanding principal amount of those Convertible Notes, together with all accrued and unpaid interest thereon, into shares of common stock. Together, these transactions are expected to significantly strengthen the Company’s balance sheet, eliminate its debt obligations, and provide growth capital to capitalize on increasing demand for cost-efficient, long-term data storage in AI and enterprise environments. With respect to the private placement, the Company entered into securities purchase agreements dated June 1, 2026 to sell an aggregate of 10,615,712 shares of common stock at a price of $9.42 per share. The Company intends to use approximately $94.7 million of the net proceeds from the private placement to repay all of its existing term debt, and for working capital and general corporate purposes. The private placement provides Quantum with greater financial flexibility to support ongoing operations and invest in growth initiatives. The Company also plans to commission a report by a third party technology consulting firm on the importance of magnetic tape to HPC data centers. “This transaction represents a significant step forward for Quantum," said Hugues Meyrath, CEO of Quantum Corporation. "We have meaningfully strengthened our balance sheet, eliminated our debt position, and brought in new capital to support the business. Following these actions and debt paydown, we expect to emerge with a positive net cash position and a sustainable capital structure. These transactions signal strong support and credible backing from institutional partners and provide a stronger financial foundation. With improved flexibility, we are better positioned to support our customers, invest in growth, and execute our strategy with a clearer path to long-term value creation, including profitable growth over time.” “These transactions address historical balance sheet constraints and provide the flexibility needed to execute on the company's growth opportunities,” said John Fichthorn, co-founder and managing partner of Dialectic Capital Management. “Given the significant de-risking these transactions represent and the substantial growth opportunities we see for Quantum, Dialectic has agreed to an early conversion of our Convertible Notes to equity. We believe Quantum is now much better positioned for the broader and growing market opportunity in data storage. With AI, the nature of data storage is changing and data storage requirements are evolving toward long-term, cost-efficient, and energy-aware solutions. Tape and complementary platforms have an increasing role to play. Quantum is well positioned to benefit from that shift.” In order to facilitate the equity financing transaction, Dialectic, as sole beneficial owner of the Convertible Notes issued under the Indenture dated December 18, 2025, agreed to voluntarily convert the Convertible Notes into common stock of the Company. Pursuant to a conversion agreement dated June 1, 2026, Dialectic will convert the entire principal amount of the Convertible Notes, together with all accrued and unpaid interest thereon, into shares of common stock concurrently with the closing of the equity financing transaction. As consideration for Dialectic’s agreement to voluntarily convert its Convertible Notes, the Company agreed to issue additional shares of common stock by converting an amount equal to the present value of nominal PIK interest that would accrue on the Convertible Notes from the closing date of the proposed transactions to the maturity date of the Convertible Notes, assuming the Convertible Notes had remained outstanding until the end of the stated term, discounted at a rate of 11%, plus the amount of deferred cash interest owed to Dialectic, applying the same conversion price under the Convertible Notes of $5.194 per share. It is anticipated that an aggregate of 14,104,620 shares of common stock will be issued to Dialectic as a result of the conversion of the Convertible Notes and the agreed upon consideration described above. As additional consideration for Dialectic’s agreement to convert the Convertible Notes, the Company will issue to Dialectic at closing a warrant to purchase up to 105,911 shares of common stock at an exercise price of $5.194 per share (which is equal to the conversion price of the Convertible Notes in effect following the reset period ended March 31, 2026). In connection with the transactions, certain investors in the private placement and Dialectic entered into a right of first refusal agreement with the Company which provides such investors and Dialectic with a right of first refusal with respect to new issuance and sales of the Company’s equity securities until the earlier of six months from the date of the right of first refusal agreement and completion of the Company’s next equity financing transaction. The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the Securities Act), or applicable state securities laws, and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from such registration requirements. The Company has agreed to file a resale registration statement with the U.S. Securities and Exchange Commission (the SEC) covering the resale of the shares of common stock sold in the private placement and certain shares issued to Dialectic in connection with the Convertible Notes conversion. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the common stock, nor shall there be any sale of these common stock in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the common stock under the resale registration statement will only be by means of a prospectus. Transaction Advisors Cantor acted as lead placement agent and Lake Street Capital Markets, LLC acted as placement agent for the Company in connection with the private placement. DLA Piper LLP (US) is serving as legal advisor to the placement agents. Pillsbury Winthrop Shaw Pittman LLP is serving as legal advisor to the Company. Willkie Farr & Gallagher LLP is serving as legal advisor to Dialectic. Hogan Lovells US LLP is serving as legal advisor to the lenders under the Company’s existing term debt. About Quantum Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset - their data. Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners. Forward-Looking Information The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, but are not limited to: expected benefits of the transactions, including to the Company’s liquidity, financial position and future opportunities; the anticipated use of proceeds from the private placement; expectations with respect to the Company’s debt position following the paydown and Convertible Notes conversion; expectations with respect to the market in which the Company operates; expectations with respect to the number of shares that will be issued in connection with the private placement and certain shares issued to Dialectic in connection with the Convertible Notes conversion; the Company’s plans to commission a report regarding the importance of magnetic tape to HPC data centers; the terms and conditions related to the proposed transactions; and expectations with respect to the resale registration statement covering the shares of common stock sold in the private placement and certain shares issued to Dialectic in connection with the Convertible Notes conversion. These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets”, “will”, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: estimates and assumptions related to the private placement and the Convertible Notes conversion, including anticipated benefits thereof; the risk that the conditions to the closing of the proposed transactions are not satisfied; the ability of each party to consummate the proposed transactions on a timely basis, or at all, or the failure of any of the proposed transactions to close for any reason; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the SEC, including our Annual Report on Form 10-K filed with the SEC on August 26, 2025, and any subsequent filings with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law or regulation. View source version on businesswire.com: https://www.businesswire.com/news/home/20260601477581/en/ Investor Relations Contact:
Shelton Group
Leanne K. Sievers | Brett L. Perry
E: sheltonir@sheltongroup.com Original: Quantum Announces Equity Financing to Strengthen Balance Sheet and Support Growth

Quantum CatDV Showcases Automated Live Sports Production with North Shore Automation’s Stats InjectorApril 17, 2026 10:49 AM
Business Wire
Integration delivers real-time play-by-play metadata directly into media assets for professional sports organizations; Continues recent platform enhancements including expanded cloud, clustering, and AI capabilities


Quantum Corporation (Nasdaq: QMCO) today announced that North Shore Automation’s Stats Injector is now fully compatible with Quantum CatDV, the media asset management and workflow orchestration platform used by broadcasters, sports leagues, and post-production teams world-wide, bringing automated, data-driven clip logging to live sports production workflows. The integration, already deployed in production with the Miami HEAT, is designed to pull hyper-accurate play-by-play data directly from professional league APIs and automatically apply markers and metadata to video clips during ingest, eliminating manual logging and enabling instant retrieval of specific game moments across every camera angle.


“Stats Injector on CatDV is a powerhouse combo for sports production,” said Bryson Jones, Founder and CIO of North Shore Automation. “We are able to insert Stats Injector directly into the production pipeline, connecting league APIs to tag media with rich, accurate metadata automatically. With the CatDV Worker Node, you can build file system-level automations that just aren’t possible on DAMs/MAMs that offer a take-it-or-leave-it feature set. CatDV’s architecture lets us personalize the workflow to each customer’s specific needs, because no two teams are the same, but they all agree that every second counts on game day.”


The Miami HEAT creative services team uses CatDV with Stats Injector to automatically log clips using the NBA’s statistics tagging format, enabling the 60-person production team to near-instantly locate specific plays across all available camera angles. Stats Injector supports professional basketball, baseball, and U.S. football leagues, and is compatible with EVS, Evertz, and Telestream® Lightspeed® Live Capture ingest systems. North Shore Automation describes the approach as “not artificial intelligence, just intelligence,” distinguishing deterministic league API data from probabilistic AI-based detection. The result is architected to provide hyper-accurate metadata applied at ingest speed with no manual intervention.


The Stats Injector integration exemplifies the architectural advantage that has made CatDV a platform of choice for demanding content production environments. CatDV’s on-premise, extensible architecture enables partners like North Shore Automation to build directly into the production pipeline rather than working around the constraints of cloud-based MAM platforms. Recent platform enhancements further strengthen this foundation:


Pegasus Worker Clustering now enables the automatic distribution of processing jobs across multiple clustered worker nodes with a single configuration and task queue. Tag-based routing directs jobs to appropriate hardware resources, such as routing GPU transcoding to GPU-equipped nodes. Production teams can scale processing capacity by adding worker nodes, with built-in high availability designed to keep jobs running if a node goes offline.


Azure Cloud Support enables CatDV Server and Worker to be installed on Azure Cloud Compute, with direct ingest from Azure Blob Storage, proxy playback without downloading, and the ability to archive to Azure Blob with storage tier selection (hot, cool, or archive) managed directly from within CatDV.


Expanded Cloud Archiving Support has been added for Dell ECS and NetApp StorageGRID. A new Generation 3 plugin for Quantum ActiveScale and AWS S3 adds performance tuning options for cloud transfers including concurrent request limits and block size configuration.


AI-powered facial recognition is now available through Amazon AI 2.0, supporting user-trainable facial recognition via AWS Rekognition.


Quantum will be meeting with customers and partners at NAB 2026, April 19–22, Booth N1726. North Shore Automation specialists will be available in the Quantum booth by arrangement to discuss data-driven media production workflows.


About Quantum Corporation


Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset - their data. For more information visit www.quantum.com.


Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.


About North Shore Automation


North Shore Automation are industry leaders in Media Asset Management. For over 15 years they have delivered powerful automation to more than 300 customers, deploying over 170 MAM systems. Their consulting and design, deployment, training, software development, and DevOps services complement a suite of powerful applications and workflows to ensure best in class performance for Media Asset Management needs.


Forward-Looking Statements


The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 ("Exchange Act"). These forward-looking statements are largely based on Quantum’s current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, in particular, statements about the anticipated benefits and features of Quantum CatDV products and solutions, their success in media asset management workflows and media and entertainment, as well as our business prospects, changes and trends in our business and the markets in which we operate.


These forward-looking statements may be identified by the use of terms and phrases such as "anticipates", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "plans", "projects", "targets", "will", and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks, and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.


These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: the competitive pressures we face; risks associated with executing our strategy; the distribution of our products and the delivery of our services effectively; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; whether the market for our products and solutions develops and performs as anticipated and whether our products meet the developing needs of the markets in which they are sold; the success and performance of CatDV products in their anticipated markets, including their ability to successfully integrate with third-party solutions, and other risks that are described herein, including but not limited to the items discussed in "Risk Factors" in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) and any subsequent filings with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law or regulation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260417351405/en/
Media Contact:

Matter Communications

Melissa Cifarelli

Quantum@matternow.com

585.666.9511


Original: Quantum CatDV Showcases Automated Live Sports Production with North Shore Automation’s Stats Injector

Has Quantum been acquired by viewbix or just the labs ?

Has Quantum been acquired by viewbix or just the labs ?

Quantum Reports Fiscal Third Quarter 2026 Financial ResultsFebruary 17, 2026 4:05 PM
Business Wire
Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company"), today announced financial results for its fiscal third quarter of 2026 ended December 31, 2025.


Fiscal Third Quarter 2026 Financial Summary



Revenue was $74.6 million, exceeding the preliminary revenue results of $72.7 million and the original guidance range of $67 million, plus or minus $2.0 million



Higher than expected revenue was primarily driven by strong shipments into quarter-end, and to a lesser extent, conservative assumptions related to deferred revenue contracts



GAAP operating expenses were $30.1 million; non-GAAP adjusted operating expenses were $26.9 million, reflecting a year-over-year reduction of over $1 million



GAAP net loss was $27.8 million, or ($2.03) per share



Non-GAAP adjusted net loss was $4.9 million, or ($0.36) per share



Non-GAAP adjusted EBITDA was $2.9 million



“Third quarter revenue and non-GAAP adjusted EBITDA exceeded the high end of our forecasted range, reflecting the increasing benefits we are seeing from our revitalized sales organization and restructuring initiatives,” commented Hugues Meyrath, CEO of Quantum. “Also contributing to our solid results was the significant reduction in our operating costs and increased operational efficiencies realized over the past year. As part of our go-to-market strategy, we have been working closely with customers and strategic partners to address the growing market demand for AI-ready infrastructure leveraging Quantum’s integrated platform solutions spanning the full data lifecycle. These efforts have resulted in meaningful increases in both our pipeline and backlog over the past two quarters.


“Lastly, following our recently completed exchange of term debt for convertible notes, we have significantly improved our balance sheet and also continue to evaluate viable options for the Company’s remaining term debt toward our goal of further strengthening our balance sheet. Our demonstrated progress to-date is only the beginning of what we aim to achieve over the coming quarters as we further sharpen our execution and performance across the organization.”


Fiscal Third Quarter 2026 vs. Prior Fiscal Quarter


Revenue for the fiscal third quarter of 2026 was $74.6 million, compared to $62.7 million in the fiscal second quarter of 2026. GAAP gross profit in the fiscal third quarter of 2026 was $28.9 million, or 38.8% of revenue, compared to $23.6 million, or 37.6% of revenue, in the prior fiscal quarter. Non-GAAP gross profit in the fiscal third quarter of 2026 was $28.9 million, or 38.7% of revenue, compared to $24.2 million, or 38.6% of revenue, in the prior fiscal quarter.


Total GAAP operating expenses in the fiscal third quarter of 2026 were $30.1 million, or 40.4% of revenue, compared to $31.7 million, or 50.6% of revenue, in the fiscal second quarter of 2026. Total operating expenses on a non-GAAP basis for the fiscal third quarter of 2026 were $26.9 million, or 36.1% of revenue, compared to $24.8 million, or 39.5% of revenue, in the fiscal second quarter of 2026.


GAAP net loss in the fiscal third quarter of 2026 was $27.8 million, or ($2.03) per share, compared to a GAAP net loss of $46.5 million, or ($3.49) per share, in the prior fiscal quarter. Excluding stock compensation, a non-cash loss related to debt extinguishment, restructuring charges and other non-recurring costs, non-GAAP adjusted net loss in the fiscal third quarter of 2026 was $4.9 million, or ($0.36) per share, compared to a non-GAAP adjusted net loss of $7.1 million, or ($0.54) per share, in the fiscal second quarter of 2026.


Non-GAAP adjusted EBITDA in the fiscal third quarter of 2026 was positive $2.9 million, compared to a positive $0.5 million in the fiscal second quarter of 2026.


For a reconciliation of GAAP to non-GAAP financial results, please see the financial reconciliation tables below.


Liquidity and Debt (as of December 31, 2025)



Cash, cash equivalents and restricted cash were $13.8 million, compared to $20.6 million as of December 31, 2024.



Total interest expense for the quarter was $5.9 million, compared to $6.8 million in the same period a year ago.



Outstanding term loan debt, excluding debt issuance costs, was $54.6 million, compared to $105.9 million as of December 31, 2024.



The new convertible note was fair valued at $75.9 million.



Business Outlook


Fiscal fourth quarter 2026 guidance is as follows:



Revenue of $68 million, plus or minus $2 million



Non-GAAP adjusted operating expenses of $27 million, plus or minus $2 million



Non-GAAP adjusted basic net loss per share of ($0.33), plus or minus $0.10



Non-GAAP adjusted EBITDA at breakeven, plus or minus $2 million



This assumes an effective annual tax rate of 3%; non-GAAP adjusted net loss per share assumes an average basic share count of approximately 15 million in the fiscal fourth quarter of 2026.


Conference Call and Webcast


Management will host an earnings and business update conference call today at 5:00 p.m. ET (2:00 p.m. PT). The live conference call will be accessible by dialing 866-424-3436 (U.S. Toll-Free) or +1-201-689-8058 (International) and entering conference ID 13758121. This conference call will be broadcast live over the Internet and can be accessed by all interested parties on the investor relations section of the Company's website at www.investors.quantum.com under the events and presentations tab.


A telephone replay of the conference call will be available approximately two hours after the conference call and will be available through February 19, 2026. To access the replay dial 1-877-660-6853 and enter the conference ID 13758121 at the prompt. International callers should dial +1-201-612-7415 and enter the same conference ID. Following the conclusion of the live call, a replay of the webcast will be available on the Company's website at www.quantum.com for at least 90 days.


About Quantum


Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset – their data. For more information, visit www.quantum.com.


Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.


Forward-Looking Information


The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, in particular, statements related to future projections of our financial results, including for the fourth fiscal quarter of 2026; expectations related to the continued benefits of our revitalized sales organization and restructuring initiatives; expectations regarding our pipeline and backlog; expectations regarding market demand for AI-ready infrastructure leveraging our integrated platform solutions; the evaluation of options with respect to our remaining term debt in furtherance of our goal of further strengthening our balance sheet; and our focus, goals, opportunities and strategy.


These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets”, “will”, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.


These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: risks related to the need to address the many challenges facing our business; the impact macroeconomic and inflationary conditions on our business, including potential disruptions to our supply chain, employees, operations, sales and overall market conditions; the competitive pressures we face; risks associated with executing our strategy; the timing, execution and realization of anticipated benefits from our sales organization revitalization and restructuring initiatives; the distribution of our products and the delivery of our services effectively; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; the outcome of any legal proceedings, claims and disputes; the ability to meet stock exchange continued listing standards; risks related to our ability to implement and maintain effective internal control over financial reporting in the future; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K filed with the SEC on August 26, 2025, and any subsequent reports filed with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.




QUANTUM CORPORATION








CONDENSED CONSOLIDATED BALANCE SHEETS








(in thousands, except per share amounts, unaudited)










 



 






December 31, 2025






 






March 31, 2025








Assets






 






 






 








Current assets:






 






 






 








Cash and cash equivalents






$






13,180






 






 






$






16,464






 








Restricted cash






 






661






 






 






 






139






 








Accounts receivable, net of allowance for credit losses of $2,730 and $99, respectively






 






59,429






 






 






 






52,502






 








Inventories






 






17,629






 






 






 






22,434






 








Prepaid expenses






 






3,744






 






 






 






2,738






 








Other current assets






 






8,976






 






 






 






8,529






 








Total current assets






 






103,619






 






 






 






102,806






 








Property and equipment, net






 






9,952






 






 






 






11,378






 








Goodwill






 






12,969






 






 






 






12,969






 








Intangible assets, net






 






—






 






 






 






281






 








Right-of-use assets






 






7,755






 






 






 






8,580






 








Other long-term assets






 






14,977






 






 






 






19,388






 








Total assets






$






149,272






 






 






$






155,402






 








Liabilities and Stockholders’ Deficit






 






 






 








Current liabilities:






 






 






 








Accounts payable






$






29,953






 






 






$






31,463






 








Accrued compensation






 






9,669






 






 






 






9,214






 








Deferred revenue, current portion






 






74,917






 






 






 






75,076






 








Accrued restructuring






 






905






 






 






 






786






 








Term debt






 






52,758






 






 






 






96,486






 








Revolving credit facility






 






—






 






 






 






26,600






 








Warrant liabilities






 






16,335






 






 






 






—






 








Other accrued liabilities






 






18,639






 






 






 






17,982






 








Total current liabilities






 






203,176






 






 






 






257,607






 








Deferred revenue, net of current portion






 






33,409






 






 






 






38,847






 








Convertible Note






 






75,873






 






 






 






—






 








Operating lease liabilities






 






8,406






 






 






 






8,934






 








Other long-term liabilities






 






12,637






 






 






 






14,380






 








Total liabilities






 






333,501






 






 






 






319,768






 








Stockholders' deficit






 






 






 








Preferred stock, 20,000 shares authorized; no shares issued and outstanding






 






—






 






 






 






—






 








Common stock, $0.01 par value; 225,000 shares authorized; 14,135 and 6,962 shares issued and outstanding






 






141






 






 






 






70






 








Additional paid-in capital






 






850,512






 






 






 






779,645






 








Accumulated deficit






 






(1,033,976






)






 






 






(942,471






)








Accumulated other comprehensive loss






 






(906






)






 






 






(1,610






)








Total stockholders’ deficit






 






(184,229






)






 






 






(164,366






)








Total liabilities and stockholders’ deficit






$






149,272






 






 






$






155,402






 









QUANTUM CORPORATION








CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS








(in thousands, except per share amounts, unaudited)










 



 






Three Months Ended December 31,






 






Nine Months Ended December 31,








 






2025






 






2024






 






2025






 






2024








Revenue:






 






 






 






 






 






 






 








Product






$






46,471






 






 






$






38,634






 






 






$






119,375






 






 






$






120,565






 








Service and subscription






 






26,520






 






 






 






27,724






 






 






 






77,082






 






 






 






84,640






 








Royalty






 






1,595






 






 






 






2,326






 






 






 






5,130






 






 






 






7,592






 








Total revenue






 






74,586






 






 






 






68,684






 






 






 






201,587






 






 






 






212,797






 








Cost of revenue:






 






 






 






 






 






 






 








Product






 






35,611






 






 






 






30,922






 






 






 






95,104






 






 






 






93,251






 








Service and subscription






 






10,043






 






 






 






9,874






 






 






 






31,287






 






 






 






33,954






 








Total cost of revenue






 






45,654






 






 






 






40,796






 






 






 






126,391






 






 






 






127,205






 








Gross profit






 






28,932






 






 






 






27,888






 






 






 






75,196






 






 






 






85,592






 








Operating expenses:






 






 






 






 






 






 






 








Sales and marketing






 






12,977






 






 






 






12,448






 






 






 






37,451






 






 






 






39,321






 








General and administrative






 






10,045






 






 






 






14,142






 






 






 






34,621






 






 






 






49,186






 








Research and development






 






5,573






 






 






 






7,683






 






 






 






17,926






 






 






 






24,255






 








Restructuring charges






 






1,525






 






 






 






1,342






 






 






 






7,141






 






 






 






2,916






 








Total operating expenses






 






30,120






 






 






 






35,615






 






 






 






97,139






 






 






 






115,678






 








Income (loss) from operations






 






(1,188






)






 






 






(7,727






)






 






 






(21,943






)






 






 






(30,086






)








Other income (expense), net






 






(387






)






 






 






960






 






 






 






(1,261






)






 






 






(429






)








Interest income






 






42






 






 






 






7






 






 






 






301






 






 






 






21






 








Interest expense






 






(5,933






)






 






 






(6,840






)






 






 






(18,675






)






 






 






(16,761






)








Change in fair value of warrant liabilities






 






7,560






 






 






 






(61,630






)






 






 






9,085






 






 






 






(56,414






)








Change in fair value of Convertible Note






 






1,599






 






 






 






—






 






 






 






1,599






 






 






 






—






 








Loss on debt extinguishment






 






(28,946






)






 






 






—






 






 






 






(59,641






)






 






 






(3,003






)








Loss before income taxes






 






(27,253






)






 






 






(75,230






)






 






 






(90,535






)






 






 






(106,672






)








Income tax provision






 






590






 






 






 






70






 






 






 






970






 






 






 






675






 








Net loss






$






(27,843






)






 






$






(75,300






)






 






$






(91,505






)






 






$






(107,347






)








 






 






 






 






 






 






 






 








Net loss per share - basic and diluted






$






(2.03






)






 






$






(15.35






)






 






$






(7.58






)






 






$






(22.22






)








Weighted average shares - basic and diluted






 






13,689






 






 






 






4,907






 






 






 






12,077






 






 






 






4,831






 








 






 






 






 






 






 






 






 








Net loss






$






(27,843






)






 






$






(75,300






)






 






$






(91,505






)






 






$






(107,347






)








Foreign currency translation adjustments, net






 






44






 






 






 






(1,077






)






 






 






704






 






 






 






(276






)








Total comprehensive loss






$






(27,799






)






 






$






(76,377






)






 






$






(90,801






)






 






$






(107,623






)









QUANTUM CORPORATION








CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS








(in thousands, unaudited)








 



 






Nine Months Ended December 31,








 






2025






 






2024








Operating activities






 






 






 








Net loss






$






(91,505






)






 






$






(107,347






)








Adjustments to reconcile net loss to net cash provided by used in operating activities






 






 






 








Depreciation and amortization






 






2,656






 






 






 






4,440






 








Amortization of debt issuance costs






 






5,830






 






 






 






3,704






 








Non-cash lease expense






 






976






 






 






 






1,342






 








Loss on debt extinguishment






 






34,221






 






 






 






3,003






 








Provision for product and manufacturing inventories






 






4,579






 






 






 






1,165






 








Stock-based compensation






 






(1,174






)






 






 






2,376






 








Paid-in-kind interest






 






5,328






 






 






 






3,515






 








Warrants issued in connection with debt amendments






 






25,420






 






 






 






—






 








Change in fair value of warrant liabilities






 






(9,085






)






 






 






56,408






 








Change in fair value of Convertible Note






 






(1,599






)






 






 






—






 








Other non-cash






 






2,710






 






 






 






(281






)








Changes in assets and liabilities:






 






 






 








Accounts receivable, net






 






(7,446






)






 






 






6,337






 








Inventories






 






(580






)






 






 






5,625






 








Prepaid expenses






 






(1,006






)






 






 






9,406






 








Operating lease liabilities






 






(857






)






 






 






(813






)








Accounts payable






 






(2,290






)






 






 






(382






)








Accrued compensation






 






454






 






 






 






(6,512






)








Accrued restructuring charges






 






119






 






 






 






—






 








Deferred revenue






 






(5,597






)






 






 






(9,854






)








Other current assets






 






(478






)






 






 






(124






)








Other non-current assets






 






1,967






 






 






 






1,367






 








Other current liabilities






 






1,163






 






 






 






4,839






 








Other non-current liabilities






 






(1,244






)






 






 






1,441






 








Net cash used in operating activities






 






(37,438






)






 






 






(20,345






)








Investing activities






 






 






 








Purchases of property and equipment






 






(925






)






 






 






(4,324






)








Net cash used in investing activities






 






(925






)






 






 






(4,324






)








Financing activities






 






 






 








Borrowings of long-term debt, net of debt issuance costs






 






45,046






 






 






 






25,000






 








Borrowing of Convertible Note






 






54,718






 






 






 






—






 








Repayments of long-term debt on Assignment, net






 






(52,271






)






 






 






(14,092






)








Repayments of long term debt on Exchange, net






 






(56,979






)






 






 






—






 








Borrowings of credit facility






 






71,625






 






 






 






311,135






 








Repayments of credit facility






 






(98,682






)






 






 






(302,628






)








Proceeds from shares issued related to the SEPA, net






 






72,031






 






 






 






—






 








Proceeds from the issuance of common stock, net






 






81






 






 






 






—






 








Net cash provided by financing activities






 






35,569






 






 






 






19,415






 








Effect of exchange rate changes on cash, cash equivalents and restricted cash






 






32






 






 






 






(3






)








Net change in cash, cash equivalents and restricted cash






 






(2,762






)






 






 






(5,257






)








Cash, cash equivalents and restricted cash at beginning of period






 






16,603






 






 






 






25,860






 








Cash, cash equivalents and restricted cash at end of period






$






13,841






 






 






$






20,603






 








 






 






 






 








The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows:








Cash and cash equivalents






$






13,180






 






 






$






20,381






 








Restricted cash






 






661






 






 






 






222






 








Cash, cash equivalents and restricted cash at the end of period






$






13,841






 






 






$






20,603






 








Supplemental disclosure of cash flow information






 






 






 








Cash paid for interest






$






4,270






 






 






$






8,841






 








Cash paid for income taxes, net






$






556






 






 






$






1,798






 








Non-cash transactions






 






 






 








Purchases of property and equipment included in accounts payable






$






67






 






 






$






88






 








Right-of-use assets obtained in exchange for new lease liabilities






$






61






 






 






$






538






 








Paid-in-kind interest






$






5,328






 






 






$






3,515






 








Exchange of Term Loan for Convertible Note






$






77,472






 






 






$






—






 







NON-GAAP FINANCIAL MEASURES


To provide investors with additional information regarding our financial results, we have presented certain non-GAAP financial measures in this press release, including non-GAAP gross margin, non-GAAP gross profit, non-GAAP adjusted EBITDA, and non-GAAP adjusted net loss.


Non-GAAP gross margin is a non-GAAP financial measure defined by us as non-GAAP gross profit divided by GAAP revenue, where non-GAAP gross profit excludes stock-based compensation, restructuring charges, and non-recurring costs recorded in cost of revenue.


Non-GAAP adjusted EBITDA is a non-GAAP financial measure defined by us as net loss before interest expense, net, provision for income taxes, depreciation expense, stock-based compensation expense, restructuring charges, amortization of acquisition-related intangible assets, loss on debt extinguishment, non-recurring project costs, including restatement and debt-related matters, and fair value of warrants adjustments.


Non-GAAP adjusted net loss is a non-GAAP financial measure defined by us as net loss before restructuring charges, stock-based compensation expense, amortization of acquisition-related intangible assets, loss on debt extinguishment, non-recurring project costs, including restatement and debt-related matters, non-recurring interest expense, and fair value of warrants adjustments. We calculate non-GAAP adjusted net loss per basic and diluted share using the above-referenced definition of non-GAAP adjusted net loss.


We have provided below reconciliations of non-GAAP gross margin, non-GAAP gross profit, non-GAAP adjusted EBITDA and non-GAAP adjusted net loss to the most directly comparable U.S. GAAP financial measures. We have presented non-GAAP adjusted EBITDA because it is a key measure used by our management and the board of directors to understand and evaluate our core operating performance and trends, to prepare and approve our annual budget and to develop short and long-term operating plans. In particular, we believe that the exclusion of the amounts eliminated in calculating non-GAAP adjusted EBITDA can provide a useful measure for period-to-period comparisons of our core business performance. For example, in the quarter ended June 30, 2024, we excluded the costs associated with the restatement of financial statements for fiscal year 2022, fiscal year 2023 and associated quarters, and the first fiscal quarter of 2024. We do not believe it is indicative of our ongoing operations; accordingly, we have excluded the impact from our non-GAAP results. We believe non-GAAP adjusted net loss and non-GAAP adjusted net loss per basic and diluted share serve as appropriate measures to be used in evaluating the performance of our business and help our investors better compare our operating performance over multiple periods. Accordingly, we believe that the use of non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and our board of directors.


Our use of non-GAAP financial measures have limitations as analytical tools, and you should not consider them in isolation or as a substitute for analysis of our financial results as reported under U.S. GAAP. Some of these limitations are as follows:



Although depreciation and amortization expense are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and non-GAAP adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements.



Non-GAAP adjusted EBITDA does not reflect: (1) interest and tax payments that may represent a reduction in cash available to us; (2) capital expenditures, future requirements for capital expenditures or contractual commitments; (3) changes in, or cash requirements for, working capital needs; (4) the potentially dilutive impact of stock-based compensation expense; (5) potential future costs related to our long-term debt; (6) potential future restructuring expenses; (7) potential future costs related to business acquisitions; (8) gain (loss) on debt extinguishment, (9) and acquisition-related amortization of intangibles assets from business combinations, or (10) fair market adjustments related to the Company’s warrants.



Non-GAAP adjusted net loss does not reflect: (1) potential future restructuring activities; (2) the potentially dilutive impact of stock-based compensation expense; (3) potential future costs related to our long-term debt; (4) potential future costs related to business acquisitions; (5) gain (loss) on debt extinguishment; (6) acquisition-related amortization of intangibles assets from business combinations; or (7) fair market adjustments related to the Company’s warrants.



Other companies, including companies in our industry, may calculate non-GAAP financial measures differently, which reduces its usefulness as a comparative measure. Because of these and other limitations, you should consider non-GAAP adjusted EBITDA and non-GAAP adjusted net loss along with other U.S. GAAP-based financial performance measures, including various cash flow metrics and our U.S. GAAP financial results.


In addition, this press release includes forward-looking non-GAAP adjusted operating expenses, non-GAAP adjusted basic net loss per share, and non-GAAP adjusted EBITDA, each a non-GAAP measure used to describe our expected performance. We have not presented a reconciliation of these anticipated non-GAAP measures to our most comparable GAAP financial measures, because the reconciliation could not be prepared without unreasonable effort. The information necessary to prepare the reconciliations is not available on a forward-looking basis and cannot be accurately predicted. The unavailable information could have a significant impact on the calculation of the comparable GAAP financial measure.


The tables below reconcile the non-GAAP financial measures of non-GAAP gross margin, non-GAAP gross profit, non-GAAP adjusted EBITDA, non-GAAP adjusted net loss and diluted EPS with the most directly comparable GAAP financial measures (in thousands, unaudited).




Non-GAAP adjusted EBITDA








 



 






Three Months Ended December 31,








(in thousands)






2025






 






2024








GAAP net loss






$






(27,843






)






 






$






(75,300






)








Interest expense, net?






 






5,933






 






 






 






6,984






 








Provision for income taxes?






 






590






 






 






 






70






 








Depreciation expense?






 






1,270






 






 






 






1,737






 








Stock-based compensation expense?






 






(969






)






 






 






735






 








Restructuring charges?






 






1,668






 






 






 






1,845






 








Loss on debt extinguishment






 






28,946






 






 






 






—






 








Amortization of acquisition-related intangible assets?






 






—






 






 






 






233






 








Non-recurring project costs?






 






534






 






 






 






2,914






 








Loss on termination of a distribution arrangement






 






1,900






 






 






 






—






 








Fair value of warrants adjustments?






 






(7,560






)






 






 






61,630






 








Fair value of Convertible Note adjustments






 






(1,599






)






 






 






—






 








Adjusted EBITDA






$






2,870






 






 






$






848






 









Non-GAAP adjusted net loss and net loss per share








 



 






Three Months Ended December 31,








(in thousands)






2025






 






2024








GAAP net loss






$






(27,843






)






 






$






(75,300






)








Stock-based compensation expense?






 






(969






)






 






 






735






 








Restructuring charges?






 






1,668






 






 






 






1,845






 








Amortization of acquisition-related intangible assets?






 






—






 






 






 






233






 








Non-recurring project costs?






 






534






 






 






 






2,914






 








Non-recurring interest expense






 






—






 






 






 






116






 








Loss on debt extinguishment






 






28,946






 






 






 






0






 








Loss on termination of a distribution arrangement






 






1,900






 






 






 






0






 








Fair value of warrants adjustments?






 






(7,560






)






 






 






61,630






 








Fair value of Convertible Note adjustments






 






(1,599






)






 






 






—






 








Non-GAAP adjusted net loss






$






(4,923






)






 






$






(7,827






)








 






 






 






 








??Non-GAAP adjusted net loss per share – basic and diluted






$






(0.36






)






 






$






(1.60






)








Weighted average shares – basic and diluted






 






13,689






 






 






 






4,907






 









Non-GAAP Costs of Good Sold









 



 






Three Months Ended December 31,








(in thousands)






2025






 






2024








GAAP Cost of revenue






$






45,654






 






 






$






40,796









Less: non-GAAP cost of revenue






 






 






 









Stock-based compensation expense?






 






(58






)






 






 






95









Restructuring charges?






 






—






 






 






 






136









Non-GAAP cost of revenue






$






45,712






 






 






$






40,565










Non-GAAP Gross Profit and Gross Margin








 



 






Three Months Ended December 31,








(in thousands)






2025






 






2024








GAAP Revenue






$






74,586






 






 






$






68,684






 








Less: Non-GAAP cost of revenue






 






45,712






 






 






 






40,565






 








Non-GAAP gross profit






$






28,874






 






 






$






28,119






 








Non-GAAP gross margin






 






38.7






%






 






 






40.9






%









Non-GAAP Operating Expenses









 



 






Three Months Ended December 31,








(in thousands)






2025






 






2024








GAAP operating expenses






$






30,120






 






 






$






35,615









Less: Non-GAAP operating expenses






 






 






 









Stock-based compensation expense?






 






(911






)






 






 






640









Restructuring charges?






 






1,668






 






 






 






1,709









Amortization of acquisition-related intangible assets?






 






—






 






 






 






233









Loss on termination of a distribution arrangement






 






1,900






 






 






 






—









Non-recurring project costs?






 






534






 






 






 






2,914









Non-GAAP operating expenses






$






26,929






 






 






$






30,119








 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260217379832/en/
Investor Relations Contacts:

Shelton Group

Leanne K. Sievers | Brett L. Perry

P: 214-272-0070

E: sheltonir@sheltongroup.com


Original: Quantum Reports Fiscal Third Quarter 2026 Financial Results