QUANTUM CORP DE
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
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Balance Sheet Information
NOTE 3: BALANCE SHEET INFORMATION
Certain significant amounts included in the Company's condensed consolidated balance sheets consist of the following (in thousands):
Manufacturing inventories
| June 30, 2024 | March 31, 2024 | |
|---|---|---|
| Finished goods | $8,399 | $7,074 |
| Work in progress | 610 | 769 |
| Raw materials | 9,458 | 9,910 |
| Total manufacturing inventories | $18,467 | $17,753 |
Service parts inventories
| June 30, 2024 | March 31, 2024 | |
|---|---|---|
| Finished goods | $6,422 | $3,660 |
| Component parts | 2,091 | 6,123 |
| Total service parts inventories | $8,513 | $9,783 |
Other long-term assets
| June 30, 2024 | March 31, 2024 | |
|---|---|---|
| Capitalized SaaS implementation costs for internal use | $15,230 | $15,349 |
| Capitalized debt costs | 2,154 | 1,923 |
| Contract asset | 1,457 | 1,477 |
| Deferred taxes | 729 | 734 |
| Other | 279 | 257 |
| Total other long-term assets | $19,849 | $19,740 |
Other accrued liabilities
| June 30, 2024 | March 31, 2024 | |
|---|---|---|
| Accrued expenses | $14,168 | $4,251 |
| Asset retirement obligation | 2,328 | 2,069 |
| Accrued warranty | 1,265 | 1,545 |
| Accrued interest | 691 | 524 |
| Accrued income taxes | 571 | 1,044 |
| Accrued restructuring | 404 | 110 |
| Other | 5,616 | 4,443 |
| Total other accrued liabilities | $25,043 | $13,986 |
Intangibles, net
| June 30, 2024 | March 31, 2024 | |||||
|---|---|---|---|---|---|---|
| Gross | Accumulated Amortization | Net | Gross | Accumulated Amortization | Net | |
| Developed technology | $9,013 | $(8,781) | $232 | $9,013 | $(8,550) | $463 |
| Customer lists | 4,398 | (3,423) | 975 | 4,398 | (3,192) | 1,206 |
| Intangible assets, net | $13,411 | $(12,204) | $1,207 | $13,411 | $(11,742) | $1,669 |
Intangible assets amortization expense was $0.5 million and $1.1 million for the three months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, the remaining weighted-average amortization period for definite-lived intangible assets was approximately 1.0 year. The Company recorded amortization of developed technology in cost of product revenue, and customer lists in sales and marketing expenses in the consolidated statements of operations.
As of June 30, 2024, the future expected amortization expense for intangible assets is as follows (in thousands):
| Fiscal year ending | Estimated future amortization expense |
|---|---|
| Remainder of 2025 | $926 |
| 2026 | 281 |
| Thereafter | — |
| Total | $1,207 |
Goodwill
As of June 30, 2024 and March 31, 2024, goodwill was $13.0 million. There wereno impairments to goodwill during the three months ended June 30, 2024 and 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.