secwatch.observer — SEC 8-K summary
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Issuer:     QUANTUM CORP /DE/ (QMCO)
CIK:        0000709283
Form:       8-K
Filed at:   2023-11-13T23:59:59+00:00
Accession:  0001193125-23-276056
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Quantum delays Q2 FY2024 10-Q; re-evaluating ASC 606 revenue accounting; obtains lender waivers
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- Filed Form 12b-25 for late 10-Q due to re-evaluation of Standalone Selling Price under ASC 606.
- Cash and cash equivalents $25.6M (flat YoY); term loan debt $87.9M (up from $77.2M); revolver $21.5M.
- Interest expense $3.9M for quarter, up from $2.7M a year ago.
- Obtained waivers from lenders under term loan and revolving credit agreements to relax GAAP requirement for Q2 financials.
- No set date for completing re-evaluation; earnings call postponed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/709283/000119312523276056/0001193125-23-276056-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/709283/000119312523276056/d81462d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-276056

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