Quantum files restated financials; auditor flags going concern doubt over debt covenants

QUANTUM CORP /DE/

1-for-20 reverse stock split effective Aug 26, 2024; all share and per-share amounts retroactively adjusted.
Auditor's going concern opinion: company was in default of debt covenants at Mar 31, 2024, waivered through July 2024, but violation expected at next test.
FY2024 net loss $41.3M ($8.68 loss per share) vs FY2023 net loss $18.4M ($5.64 loss per diluted share).
FY2024 revenue $311.6M, down 26% from $422.1M in FY2023; product revenue fell to $174.9M from $274.9M.
FY2023 and FY2022 financials restated to correct misstatements; total liabilities at Mar 31, 2024: $309.1M with negative equity of $121.5M.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.