{"schema_version":"secwatch.filing_event.v1","accession":"0000709283-23-000028","form_type":"8-K","ticker":"QMCO","cik":"0000709283","company_name":"QUANTUM CORP /DE/","filed_at":"2023-08-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.459216+00:00","generated_at":"2026-06-12T03:13:06.041504+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"Quantum Q1 revenue $91.8M (-5% YoY); guides FY24 rev ~$360M on hyperscale pause","bullets":["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%."],"urls":{"canonical":"https://secwatch.observer/filing/0000709283-23-000028","json":"https://secwatch.observer/filing/0000709283-23-000028.json","markdown":"https://secwatch.observer/filing/0000709283-23-000028.md","text":"https://secwatch.observer/filing/0000709283-23-000028.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/qtm-20230808.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T03:13:06.041504+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2aac40d97534f48d171828a2a78f75fbab0a3737","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"full fiscal year 2024"},{"label":"Revenue","value":"$360.0 million, plus or minus $10.0 million"},{"label":"Net income","value":"Non-GAAP adjusted net loss per share of ($0.06), plus or minus $0.02"},{"label":"EPS","value":"($0.06), plus or minus $0.02"},{"label":"Guidance","value":"lowered"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"},{"claim_id":"6040f53db4279a671e4fed5cb0c22c2d3c5a77c8","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fiscal first quarter ended June 30, 2023"},{"label":"Revenue","value":"$91.8 million"},{"label":"Net income","value":"($0.11) per share"},{"label":"EPS","value":"($0.11) per share"},{"label":"Guidance","value":"lowered"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"6950a914f49626c94ae4c39ab2c6e3c6254bfcc5","claim":"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.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"second fiscal quarter of 2024"},{"label":"Revenue","value":"$80.0 million, plus or minus $3.0 million"},{"label":"Net income","value":"Non-GAAP adjusted net loss per share of ($0.04), plus or minus $0.02"},{"label":"EPS","value":"($0.04), plus or minus $0.02"},{"label":"Guidance","value":"lowered"},{"label":"Result","value":"guidance update"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}