QUANTUM CORP /DE/

Listed Company

QMCOCIK 0000709283NasdaqNon-AcceleratedSmaller ReportingComputer Storage DevicesDelawareFY ends Mar 31

Period

FY 2025

Revenue

$274.06M

Net Income

$-115.09M

Total Assets

$155.40M

Equity

$-164.37M

Shares Out

14.64M

Op. Cash Flow

$-23.61M

Business

QUANTUM CORP /DE/ delivers end-to-end data management solutions for unstructured data, targeting AI and data-intensive workloads. It offers primary and secondary storage software and systems, including all-flash and hybrid file/object storage, object storage for massive data lakes, backup appliances, tape storage, asset management software, devices, media, and a portfolio of services such as global support, deployment, consulting, and Quantum-as-a-Service. The company operates as a single reporting unit and segment focused on storage systems, software, media, and services. Its products are sold globally through distributors, VARs, OEMs, and direct sales to enterprises and government customers.

Summary from filing dated 2025-08-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Total revenue	274	312	422	383	350
Total cost of revenue	164	187	279	226	199
Gross profit	110	125	143	158	151
Sales and marketing	52	61	66	63	55
General and administrative	64	52	48	45	42
Research and development	31	38	45	52	42
Restructuring	4	3	2	850,000	4
Total operating expenses	152	154	160	161	142
Loss from operations	−42	−29	−17	−3	8
Other expense, net	−710,000	−2	2	−251,000	−1
Interest expense	−24	−15	−11	−12	—
Change in fair value of warrant liability	−45	5	10	60	—
Loss on debt extinguishment, net	−3	0	−1	−5	−15
Net loss before income taxes	−114	−41	−16	40	−35
Income tax provision	821,000	711,000	2	1	239,000
Net loss	−115	−41	−18	38	−36
Net loss per share attributable to common stockholders - basic (in dollars per share)	−22.35	−8.68	−0.2	0.65	−0.83
Net loss per share attributable to common stockholders - diluted (in dollars per share)	−22.35	−8.68	−0.28	−0.32	−0.83
Weighted average shares - basic (in shares)	5	5	90	59	43
Weighted average shares - diluted (in shares)	5	5	91	66	43
Foreign currency translation adjustments, net	583,000	−612,000	−158,000	−567,000	666,000
Total comprehensive loss	−115	−42	−19	38	−35

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-12-31	FY 2024 2024-09-30	FY 2024 2024-03-31	FY 2023 2023-12-31
Cash and cash equivalents	16	20	—	26	24
Restricted cash	139,000	222,000	—	168,000	172,000
Accounts receivable, net of allowance for credit losses of $99 and $22, respectively	53	61	—	68	60
Manufacturing inventories	20	19	—	18	20
Service parts inventories	2	2	—	10	25
Prepaid expenses	3	3	—	2	4
Other current assets	9	9	—	8	7
Total current assets	103	114	—	132	141
Property and equipment, net	11	11	—	12	13
Intangible assets, net	281,000	509,000	—	2	2
Goodwill	13	13	—	13	13
Right-of-use assets, net	9	9	—	9	10
Other long-term assets	19	21	—	20	20
Total assets	155	168	—	188	199
Accounts payable	31	35	—	26	22
Accrued compensation	9	12	—	18	15
Deferred revenue, current portion	75	67	—	79	73
Accrued restructuring charges	786,000	—	—	0	—
Term debt	96	99	—	82	83
Revolving credit facility	27	—	—	27	32
Warrant liabilities	0	34	—	4	2
Other accrued liabilities	18	19	—	14	14
Total current liabilities	258	302	—	250	241
Deferred revenue, net of current portion	39	40	—	38	37
Operating lease liabilities	9	9	—	10	10
Other long-term liabilities	14	13	—	11	13
Total liabilities	320	365	—	309	301
Commitments and Contingencies (Note 10)	—	—	—	—	—
Preferred stock, 20,000 shares authorized; no shares issued as of March 31, 2025 and 2024, respectively	0	0	—	0	0
Common stock, $0.01 par value; 225,000 shares authorized; 6,962 and 4,792 shares issued and outstanding at March 31, 2025 and 2024, respectively	70,000	53,000	—	48,000	959,000
Additional paid-in capital	780	741	—	708	706
Accumulated deficit	−942	−935	—	−827	−808
Accumulated other comprehensive loss	−2	−2	—	−2	−587,000
Total stockholders' deficit	−164	−197	−151	−121	−102
Total liabilities and stockholders' deficit	155	168	—	188	199

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Depreciation and amortization	6	9	10	9	6
Amortization of debt issuance costs	5	3	2	2	6
Non-cash lease expense	2	1	—	—	—
Paid-in-kind interest	5	2	—	0	0
Provision for manufacturing and service inventories	5	6	18	6	6
Stock-based compensation	3	5	11	14	10
Change in fair value of warrant liabilities	45	−4	—	—	—
Non-cash loss on debt extinguishment	3	0	0	0	10
Other non-cash	93,000	990,000	−2	−832,000	704,000
Accounts receivable	15	5	−3	4	−2
Manufacturing inventories	−6	−1	−2	−12	924,000
Service parts inventories	7	12	−4	−4	−6
Accounts payable	6	−11	1	−2	−2
Prepaid expenses	−552,000	2	4	−4	−594,000
Operating lease liabilities	−1	−2	—	—	—
Deferred revenue	−3	1	−12	−13	418,000
Accrued restructuring charges	786,000	0	0	−580,000	580,000
Accrued compensation	−9	3	−431,000	−3	4
Other assets	2	−2	−1	−3	3
Other liabilities	6	821,000	1	−3	−3
Net cash used in operating activities	−24	−10	−5	−34	−800,000
Purchases of property and equipment	−5	−6	−13	−6	−7
Net cash used in investing activities	−5	−6	−16	−14	−10
Borrowings of long-term debt, net of debt issuance costs	25	13	0	95	19
Repayments of long-term debt	−19	−6	−25	−94	−93
Borrowings of credit facility	416	422	497	309	310
Repayments of credit facility	−419	−413	−499	−291	−313
Proceeds from shares issued related to the SEPA, net	16	0	—	—	—
Net cash provided by financing activities	19	16	41	20	31
Effect of exchange rate changes on cash and cash equivalents	−3,000	−3,000	12,000	51,000	−108,000
Net change in cash, cash equivalents, and restricted cash	−9	−315,000	21	−28	21
Cash paid for interest	12	12	9	9	24
Cash paid for income taxes, net of refunds	2	2	1	944,000	−2
Purchases of property and equipment included in accounts payable	850,000	661,000	1	147,000	258,000
Right-of-use assets obtained in exchange for new lease liabilities	678,000	594,000	—	—	—

Filings

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