QUANTUM CORP /DE/QMCO

QUANTUM CORP /DE/ Segments Disclosure

10-KFiled Jun 25, 20262 min read
SEGMENT INFORMATION
Disaggregation of Revenue
The following table depicts the disaggregation of revenue by geographic areas and major product offerings and geographies and is consistent with how the Company evaluates its financial performance (in thousands):
Year Ended March 31,
2026%2025%
Americas1
   Product revenue$90,053 $82,772 
   Service and subscription56,816 59,277 
Total revenue146,869 52.5 %142,049 51.8 %
EMEA
   Product revenue62,714 53,742 
   Service and subscription34,128 40,818 
Total revenue96,842 34.6 %94,560 34.5 %
APAC
   Product revenue19,618 17,668 
   Service and subscription8,282 10,563 
Total revenue27,900 10.0 %28,231 10.3 %
Consolidated
   Product revenue172,385 154,182 
   Service and subscription99,226 110,658 
   Royalty2
7,970 2.9 %9,218 3.4 %
Total revenue$279,581 100 %$274,058 100 %
1 Revenue for Americas geographic region outside of the United States is not significant.
2 Royalty revenue is not allocable to geographic regions.

Revenue by Solution
Year Ended March 31,
2026%2025%
Primary storage systems$44,252 16 %$58,127 21 %
Secondary storage systems100,865 36 %73,772 27 %
Device and media40,448 14 %34,352 13 %
Service 86,046 31 %98,589 36 %
Royalty7,970 3 %9,218 3 %
Total revenue1
$279,581 100 %$274,058 100 %
1 Subscription revenue of $13.2 million and $12.1 million allocated to Primary and Secondary storage systems for the fiscal years ended 2026 and 2025, respectively.


Net Loss
The following table shows reported segment revenue, segment profit or loss, and significant segment expenses were as follows (in thousands):
Year Ended March 31,
20262025
Total revenue
$279,581 $274,058 
Total cost of revenue
176,540 164,226 
Gross profit
103,041 109,832 
Gross margin
36.9 %40.1 %
Operating expenses
     Salaries & fringe1
68,342 80,882 
     Outside services2
21,003 37,171 
     Infrastructure3
9,203 10,783 
     Operational costs4
8,861 9,874 
     Restructuring
8,112 4,090 
     Other segment items5
12,027 8,712 
          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 liability11,315 (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 provision1,008 821 
Net loss
$(101,046)$(115,091)
1 Salaries & fringe includes spend on contractors.
2 Outside services includes contractor, recruiting and legal expenses.
3 Infrastructure includes property related expenses, including fixed and variable lease expense, telecommunications and depreciation.
4 Operational costs include due and subscriptions, computer expenses, office supplies and other miscellaneous items.
5 Other segment items includes travel related spend, marketing expense, taxes, fees and other miscellaneous items.

Long-lived assets

The following table summarizes property and equipment, net by geographic region (in thousands):

 For the year ended March 31,
20262025
United States$9,163 $11,160 
International121 218 
Total$9,284 $11,378 
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Historical Timeline

Fiscal YearFiled
2026Jun 25, 2026Showing above
2025Aug 26, 2025
2019Aug 6, 2019

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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