secwatch.observer — SEC 8-K summary
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Issuer:     QUANTUM CORP /DE/ (QMCO)
CIK:        0000709283
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0000709283-23-000028
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/0000709283-23-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/709283/000070928323000028/qtm-20230808.htm
  HTML page:      https://secwatch.observer/filing/0000709283-23-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer