QUANTUM CORP /DE/
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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Sep 30, 2025 · Filed Nov 13, 2025
Contents
Restructuring Charges
NOTE 7: RESTRUCTURING CHARGES
During the quarters ended September 30, 2025 and 2024, the Company had certain approved restructuring plans to improve operational efficiencies and rationalize its cost structure. During the quarter ended September 30, 2025, the Company recognized $3.2 million of restructuring charges primarily related to employee severance and other termination benefits. These charges are presented within restructuring charges in the Condensed Consolidated Statements of Operations. The Company expects to recognize additional restructuring charges in future periods, primarily related to severance and termination benefits, and is expected to be substantially complete by the end of the fourth quarter of fiscal year 2026, which is subject to change.
The following tables present the activity and the estimated timing of future payouts for accrued restructuring included in other current liabilities in the condensed consolidated balance sheets (in thousands):
| Severance and Benefits | |
|---|---|
| Balance as of March 31, 2024 | $— |
| Restructuring charges | 1,571 |
| Cash payments | (1,511) |
| Other non-cash | (2) |
| Balance as of September 30, 2024 | $58 |
| Balance as of March 31, 2025 | $786 |
| Restructuring charges | 5,616 |
| Cash payments | (5,599) |
| Other non-cash | 52 |
| Balance as of September 30, 2025 | $855 |
During the three and six months ended September 30, 2025, the Company recognized approximately $0.2 million and $0.3 million in forfeitures of unvested restricted stock units (“RSUs”) in connection with workforce reductions and employee departures.
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