secwatch.observer — SEC 8-K summary
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Issuer:     QUANTUM CORP /DE/ (QMCO)
CIK:        0000709283
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0000709283-24-000035
Event type: earnings
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quantum Corporation reports fiscal Q2 2025 revenue of $70.5M, net loss of $13.5M
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- Revenue fell 6.9% YoY to $70.5M; GAAP net loss widened to $13.5M from $3.3M in prior-year quarter.
- Subscription ARR grew 28% YoY to $19.6M; adjusted EBITDA was nearly breakeven at -$0.3M.
- CEO cited supply chain headwinds leading to higher backlog, but gross margin improved 490 bps sequentially to 41.5%.
- Debt increased: total term loan $104.7M, revolving credit $28.3M; cash and restricted cash fell to $17.0M.
- Guides fiscal Q3 revenue ~$72M and adjusted EBITDA ~$2M, with non-GAAP net loss per share of ($0.75).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/709283/000070928324000035/0000709283-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/709283/000070928324000035/qtm-20241113.htm
  HTML page:      https://secwatch.observer/filing/0000709283-24-000035

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