REVENUE
Contract Balances

The following table presents the Company’s contract assets and liabilities together with certain information related to this balance as of March 31, 2026 (in thousands): 
March 31, 2026March 31, 2025March 31, 2024
Accounts receivable, net
$69,650 $52,502 $67,788 
Contract assets (in Other current assets)$351 $278 $501 
Deferred revenue$114,684 $113,923 $116,687 
Revenue recognized in the period from amounts included in contract liabilities at the beginning of the period$77,996 $74,048 $76,304 

Remaining Performance Obligations

Total remaining performance obligations (“RPO”) which are contracted but not recognized into revenue was $163.2 million as of March 31, 2026. RPO consists of both deferred revenue, which is included in the consolidated balance sheets, and non-cancelable amounts from contracts that will be invoiced and are not included in the consolidated balance sheets. These amounts exclude variable consideration related to sales-based royalties.

Remaining performance obligations consisted of the following (in thousands):
CurrentNon-CurrentTotal
As of March 31, 2026$123,962 $39,271 $163,233 

Deferred revenue primarily consists of amounts invoiced and paid but not recognized as revenue including performance obligations pertaining to subscription services. The table below reflects our deferred revenue as of March 31, 2026 (in thousands):
Deferred revenue by period
CurrentNon-currentTotal
Service revenue$62,897 $29,252 $92,149 
Subscription revenue12,161 9,778 21,939 
Product revenue$596 $— $596 
     Total$75,654 $39,030 $114,684 
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Historical Timeline

Fiscal YearFiled
2026Jun 25, 2026Showing above
2025Aug 26, 2025
2024Jun 28, 2024
2023Jun 6, 2023
2022Jun 8, 2022
2021May 26, 2021
2020Jun 24, 2020

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.