---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-149195"
form_type: "8-K"
ticker: "QMCO"
cik: "0000709283"
company_name: "QUANTUM CORP /DE/"
filed_at: "2024-05-29T23:59:59+00:00"
generated_at: "2026-06-01T07:49:45.055032+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Quantum non-reliance on prior financials; restatement due to revenue & warrant accounting; estimates revenue/NI increase

## Summary
- Board concluded non-reliance on audited FY2022 & FY2023 and Q1 FY2024 financials; restatement underway.
- Errors: inconsistent application of ASC 606 (standalone selling price) and misclassification of warrants as equity under ASC 815.
- Company estimates restatement will increase previously reported revenue and net income for affected periods; no cash impact.
- Lenders waived covenant tests related to restatement; issued 2M warrants at $0.46/share as part of amendments.

## SEC filing metadata
- accession: 0001193125-24-149195
- form_type: 8-K
- ticker: QMCO
- cik: 0000709283
- company_name: QUANTUM CORP /DE/
- filed_at: 2024-05-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 3.02, 4.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/709283/000119312524149195/0001193125-24-149195-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/709283/000119312524149195/d836470d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-149195
- JSON: https://secwatch.observer/filing/0001193125-24-149195.json
- Plain text: https://secwatch.observer/filing/0001193125-24-149195.txt

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