---
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"
generated_at: "2026-06-12T03:13:06.041504+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000709283-23-000028
- JSON: https://secwatch.observer/filing/0000709283-23-000028.json
- Plain text: https://secwatch.observer/filing/0000709283-23-000028.txt

## Key facts
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.