Highest-materiality recent filing
Revenue $78.0M, up 27% YoY, exceeding guidance of $68M (±$2M); GAAP net loss $9.5M ($0.66 loss per share).
Paid $57.8M to terminate Term Loan Credit Agreement: $56M principal, $1.5M interest, $0.3M fees.
Quantum raises $100M equity, converts all convertible notes to equity; Q4 revenue above guidance
Private placement of 10,615,712 shares at $9.42/share for gross proceeds of $100M; net ~$94.7M.
Quantum beats Q3 revenue guidance, posts $2.9M adjusted EBITDA; debt reduced significantly
Revenue $74.6M, above preliminary $72.7M and guidance of $67M±$2M.
Quantum prelim Q3 FY2026 revenue ~$72.7M, above guidance high-end
Revenue of ~$72.7M exceeds guided range high-end of $67M (+/- $2M).
Quantum closes $54.7M convertible note exchange; potential dilution up to 36.9%
Issued $54.7M senior secured convertible notes to Dialectic at 10% PIK interest, maturing Dec 18, 2028.
Quantum Q2 FY2026 rev $62.7M; GAAP net loss $46.5M on $25.4M debt extinguishment
Revenue $62.7M at high-end of guidance ($61-63M), down from $71.8M YoY.
Audit Committee dismissed Grant Thornton as independent auditor effective Sept 30, 2025, after competitive process.
Quantum enters debt-for-equity swap with Dialectic; lender to own ~38% of company
$51.3M term loans exchanged for 3-year 10% PIK convertible notes; conversion price $10/share with reset floor of $4.
Quantum regains Nasdaq compliance for periodic filing requirement
Received Nasdaq letter on Sept 12, 2025 confirming compliance with Listing Rule 5250(c)(1).
Quantum reports Q1 FY2026 revenue $64.3M, net loss $17.2M; guides Q2 revenue ~$61M
Revenue of $64.3M, down 11% YoY from $72.3M; GAAP net loss $17.2M ($1.87/share) vs $19.9M loss ($4.15) prior year.
Quantum receives Nasdaq delisting notice for late 10-Q filing; deadline Sept 15
Notice received Aug 21, 2025 for failure to timely file Q1 FY2026 10-Q.
Quantum Corp CFO resigns; terminates PNC credit line; restatement cuts Q3 rev by $3.9M
CFO Lewis Moorehead resigns effective Aug 18, 2025; Laura Nash (CAO) becomes Principal Financial Officer.
Quantum restates Q3 FY2025 financials; revenue to decrease ~$3.9M on revenue recognition errors
Board concluded Q3 FY2025 interim financials (Dec 31, 2024) are no longer reliable.
Quantum receives Nasdaq deficiency notice for late 10-K filing; 60 days to cure
Nasdaq notified Quantum on July 17, 2025 of non-compliance with Rule 5250(c)(1) due to delayed FY 2025 10-K.
Quantum appoints Hugues Meyrath CEO with $550K salary; cuts shareholder quorum to 1/3
Hugues Meyrath becomes CEO: $550K base salary, 100% target bonus, 100K RSUs + 100K options vesting over 4 years.
Quantum appoints new CEO Hugues Meyrath; raises ~$60M via equity facility
CEO Jamie Lerner resigned effective June 2, 2025; replaced by board member Hugues Meyrath.
Quantum files restated financials; auditor flags going concern doubt over debt covenants
1-for-20 reverse stock split effective Aug 26, 2024; all share and per-share amounts retroactively adjusted.
Quantum appoints new CFO, adds director from Dialectic; $51M debt assigned to Dialectic affiliate
Lewis Moorehead named CFO effective April 4, succeeding Kenneth Gianella; Gianella stays as advisor until 10-K filing.
Quantum Q3 FY25: Revenue $72.6M, Adj EBITDA $4.7M; Debt-Reduction Equity Facility
Revenue $72.6M (+1% YoY), GAAP gross margin 43.8% vs 40.6% YoY; subscription ARR up 29% to $21.3M.
Quantum enters $200M equity purchase agreement with Yorkville; obtains debt covenant waivers
Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd.; up to $200M of common stock over 36 months.
Quantum Corporation reports fiscal Q2 2025 revenue of $70.5M, net loss of $13.5M
Revenue fell 6.9% YoY to $70.5M; GAAP net loss widened to $13.5M from $3.3M in prior-year quarter.
Nasdaq notified Quantum on Oct 4, 2024, that its Market Value of Publicly Held Shares was below $15M for 30 consecutive business days.
Quantum regains Nasdaq compliance for bid price and periodic filing; listing continued
Received Nasdaq letter confirming compliance with bid price requirement (Rule 5450(a)(1)).
Quantum shareholders approve reverse stock split; board sets 1-for-20 ratio effective Aug 26, 2024
Shareholders approved reverse stock split at ratio from 1-for-5 to 1-for-20 at Aug 15 annual meeting.
Quantum enters $25M DDTL facility, amends term loans, issues 7.6M warrants; CFO Gianella named COO
New $25M delayed draw term loan facility with 12-14% SOFR + 6-8% PIK; matures Aug 5, 2026; amortizes at 5% from Sep 30, 2025.
Quantum Q1 revenue falls to $71.3M; net loss widens to $20.8M; Q2 revenue guidance ~$73M
Revenue $71.3M vs $92.5M YoY; gross margin 36.6% down from 38.5%.
Quantum extends covenant test deadline; issues 1M share warrants to lenders
Total net leverage ratio for fiscal Q2 2024 not tested until July 31, 2024.
Quantum reports FY2024 revenue down 26% to $311.6M; GAAP loss $0.43/share
GAAP net loss $41.3M ($0.43/diluted share) vs prior-year loss of $18.4M ($0.20).
Quantum appoints Todd Arden as director; Nasdaq grants extension on bid price and filing deadlines
Todd W. Arden appointed as director effective June 6, 2024; receives $15K/month cash retainer.
Board concluded non-reliance on audited FY2022 & FY2023 and Q1 FY2024 financials; restatement underway.
Quantum reports $26.1M cash, $87.9M debt; sells assets for $15M, Nasdaq delisting stay granted
Cash and equivalents $26.1M; term loan $87.9M; revolver borrowings $26.6M; Q4 interest $4.1M.
Quantum receives Nasdaq delisting notice; amends credit agreements to permit up to $15M asset sale
Received Nasdaq delisting notice on Mar 19 due to bid price <$1 for >30 days and failure to timely file Q3 and Q4 FY2024 Form 10-Qs.
Term Loan and Revolver credit agreements amended: Dec 31, 2023 leverage covenant not tested; GAAP reporting waived for Q3 FY24 and certain months.
Quantum receives second Nasdaq delinquency notice for late Q3 FY2024 10-Q
Notice on Feb 13, 2024 for failure to file Q3 FY2024 10-Q (quarter ended Dec 31, 2023).
Quantum receives Nasdaq notice for delayed Q3 10-Q filing due to ASC 606 re-evaluation
Notified by Nasdaq on Nov 14, 2023 for failure to timely file quarterly report for period ended Sep 30, 2023.
Quantum delays Q2 FY2024 10-Q; re-evaluating ASC 606 revenue accounting; obtains lender waivers
Filed Form 12b-25 for late 10-Q due to re-evaluation of Standalone Selling Price under ASC 606.
Quantum receives Nasdaq non-compliance notice for bid price below $1.00
Notified by Nasdaq on Sept 20, 2023 of minimum bid price deficiency.
In connection with Hugues Meyrath’s appointment as President and Chief Executive Officer of Quantum Corporation (the “Company”), on June 12, 2025, Mr. Meyrath entered into an offer letter (the “Offer Letter”) with the Company providing for the following terms:
The Board appointed Donald J. Jaworski, an independent member of the Board, as Chairman of the Board, effective on June 2, 2025.
the Board appointed Hugues Meyrath, a member of the Board, to serve as the Company’s President and Chief Executive Officer and principal executive officer, effective June 2, 2025.
Brian E. Cabrera, the Company’s Senior Vice President, Chief Administrative Officer, Chief Legal and Compliance Officer and Corporate Secretary, agreed to resign effective on June 2, 2025 in connection with the Company’s ongoing restructuring activities.
James J. Lerner, the Company’s President and Chief Executive Officer and principal executive officer, resigned effective on June 2, 2025.
On March 31, 2025, the Board, on the recommendation of the Corporate Governance and Nominating Committee, appointed John A. Fichthorn as a director, effective April 3, 2025
On April 3, 2025, the Board of Directors (the “Board”) of Quantum Corporation (the “Company”) appointed Lewis W. Moorehead, the Company’s Vice President of Finance and Treasurer, to serve as the Company’s Chief Financial Officer and Principal Financial Officer, effective as of April 4, 2025.
Mr. Moorehead succeeds Kenneth P. Gianella, who will be transitioning out of his current role as Chief Operating Officer, Chief Financial Officer and Principal Financial Officer, effective April 3, 2025
Effective April 2, 2025, Todd W. Arden, a member of the Board, informed the Company of his decision to resign from the Board.
On March 19, 2025, Christopher D. Neumeyer, a member of the Board of Directors (the “Board”) of Quantum Corporation (the “Company”), informed the Company of his decision to resign from the Board, effective as of March 19, 2025.
appointed Kenneth P. Gianella, the Chief Financial Officer of the Company, to also serve as the Chief Operating Officer of the Company, effective August 13, 2024.
unanimously appointed John R. Tracy as a director and as a member of the Audit Committee of the Board, to be effective immediately following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024.
Max materiality 0.90 · Median 0.70 · Most common event other_material