Quantum Q1 revenue $91.8M (-5% YoY); guides FY24 rev ~$360M on hyperscale pause

QUANTUM CORP /DE/

2024-Q1 EPS reported -$0.11 revenue$91,787,000

GAAP net loss $10.6M ($0.11/share); non-GAAP adj net loss $4.8M ($0.05/share).
Subscription ARR up 78% YoY to $14.6M; adjusted EBITDA improved to $0.8M from $0.3M.
Large hyperscale customer paused orders post-quarter, driving Q2 revenue guidance of ~$80M.
FY2024 revenue outlook cut to ~$360M (from prior $420M+?); adj EBITDA guided ~$17M vs prior at least $20M.
Gross margin expanded 310bps YoY to 38.1% GAAP; non-GAAP gross margin 38.3%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

QUANTUM CORP /DE/ reported full fiscal year 2024 results: revenue $360.0 million, plus or minus $10.0 million, net income Non-GAAP adjusted net loss per share of ($0.06), plus or minus $0.02, EPS ($0.06), plus or minus $0.02. Guidance lowered.

Period: full fiscal year 2024
Revenue: $360.0 million, plus or minus $10.0 million
Net income: Non-GAAP adjusted net loss per share of ($0.06), plus or minus $0.02
EPS: ($0.06), plus or minus $0.02
Guidance: lowered
Result: guidance update

Exact text from the filing

For the full fiscal year 2024, the Company expect the following outlook: • Revenues of $360.0 million, plus or minus $10.0 million • Non-GAAP gross margin of approximately 42% • Non-GAAP adjusted net loss per share of ($0.06), plus or minus $0.02 • Adjusted EBITDA of approximately $17.0 million, plus or minus $3 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

QUANTUM CORP /DE/ reported fiscal first quarter ended June 30, 2023 results: revenue $91.8 million, net income ($0.11) per share, EPS ($0.11) per share. Guidance lowered.

Period: fiscal first quarter ended June 30, 2023
Revenue: $91.8 million
Net income: ($0.11) per share
EPS: ($0.11) per share
Guidance: lowered
Result: reported results

Exact text from the filing

Quantum Corporation (Nasdaq: QMCO) announced today financial results for its fiscal first quarter ended June 30, 2023. First Quarter Fiscal 2024 Financial Summary • Revenue was $91.8 million, a decrease of 5% year-over-year • GAAP gross margin was 38.1%, and non-GAAP gross margin expanded to 38.3% • Subscription ARR was up 78% year-over-year at $14.6 million • GAAP

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

QUANTUM CORP /DE/ reported second fiscal quarter of 2024 results: revenue $80.0 million, plus or minus $3.0 million, net income Non-GAAP adjusted net loss per share of ($0.04), plus or minus $0.02, EPS ($0.04), plus or minus $0.02. Guidance lowered.

Period: second fiscal quarter of 2024
Revenue: $80.0 million, plus or minus $3.0 million
Net income: Non-GAAP adjusted net loss per share of ($0.04), plus or minus $0.02
EPS: ($0.04), plus or minus $0.02
Guidance: lowered
Result: guidance update

Exact text from the filing

For the second fiscal quarter of 2024, the Company now expects the following guidance: • Revenues of $80.0 million, plus or minus $3.0 million • Non-GAAP gross margin of approximately 42% • Non-GAAP adjusted net loss per share of ($0.04), plus or minus $0.02 • Adjusted EBITDA of approximately $2.0 million

View on SEC.gov

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Source: SEC EDGAR

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