QUANTUM CORP /DE/
For the period ended Jun 30, 2026. Filed Aug 11, 2026.
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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, 2026 · Filed Aug 11, 2026
QMCO$16.99+17.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(in thousands, except per share amounts, unaudited)
| Three Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenue | ||
| Product | $53,871 | $37,535 |
| Service and subscription | 24,668 | 24,943 |
| Royalty | 2,264 | 1,808 |
| Total revenue | 80,803 | 64,286 |
| Cost of revenue | ||
| Product | 39,723 | 30,745 |
| Service and subscription | 9,360 | 10,829 |
| Total cost of revenue | 49,083 | 41,574 |
| Gross profit | 31,720 | 22,712 |
| Operating expenses | ||
| Sales and marketing | 11,027 | 12,655 |
| General and administrative | 9,609 | 13,569 |
| Research and development | 6,023 | 6,661 |
| Restructuring charges | 23 | 2,423 |
| Total operating expenses | 26,682 | 35,308 |
| Income (loss) from operations | 5,038 | (12,596) |
| Other income (expense), net | 211 | (430) |
| Interest expense | (2,097) | (6,516) |
| Change in fair value of warrant liability | (16,305) | — |
| Change in fair value of convertible note | (129,715) | — |
| Gain (loss) on debt extinguishment, net | (11,716) | 2,559 |
| Loss before income taxes | (154,583) | (16,983) |
| Income tax provision | 710 | 223 |
| Net loss | $(155,293) | $(17,206) |
| Net loss per share - basic and diluted | $(7.06) | $(1.87) |
| Weighted average shares - basic and diluted | 21,988 | 9,187 |
| Net loss | $(155,293) | $(17,206) |
| Reclassification of loss on Convertible Note to loss on debt extinguishment | 8,444 | — |
| Foreign currency translation adjustments, net | (76) | 722 |
| Total comprehensive loss | $(146,925) | $(16,484) |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands, unaudited)
| Three Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities | ||
| Net loss | $(155,293) | $(17,206) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 1,170 | 1,032 |
| Amortization of debt issuance costs | 530 | 2,075 |
| Non-cash lease expense | 260 | 343 |
| Paid-in-kind interest | 924 | 1,758 |
| Provision for manufacturing and service inventories | 163 | 2,701 |
| Stock-based compensation | 748 | (529) |
| Warrants issued in connection with debt amendments | 1,280 | — |
| Change in fair value of warrant liabilities | 16,305 | — |
| Change in fair value of convertible note | 129,715 | — |
| Non-cash loss (gain) on debt extinguishment | 8,372 | (2,559) |
| Other non-cash | 282 | 1,201 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 2,690 | 4,043 |
| Inventories | 745 | (297) |
| Accounts payable | (2,804) | (4,484) |
| Prepaid expenses | (2,286) | (1,024) |
| Operating lease liabilities | (236) | (283) |
| Deferred revenue | 454 | (7,668) |
| Accrued restructuring charges | (496) | 993 |
| Accrued compensation | (1,811) | 1,036 |
| Other assets | 895 | 840 |
| Other liabilities | (660) | 1,137 |
| Net cash provided by (used in) operating activities | 947 | (16,891) |
| Investing activities | ||
| Purchases of property and equipment | (395) | (1,192) |
| Net cash used in investing activities | (395) | (1,192) |
| Financing activities | ||
| Repayment of long-term debt, net | (56,830) | — |
| Repayments of long-term debt on Assignment | — | (909) |
| Borrowings of credit facility | — | 71,625 |
| Repayments of credit facility and payment of amendment fees | — | (98,682) |
| Proceeds from shares related to the SEPA, net | — | 66,993 |
| Proceeds from shares issued related to private placement, net | 94,638 | — |
| Net cash provided by financing activities | 37,808 | 39,027 |
| Effect of exchange rate changes on cash and cash equivalents | (4) | — |
| Net change in cash, cash equivalents, and restricted cash | 38,356 | 20,944 |
| Cash, cash equivalents, and restricted cash at beginning of period | 16,234 | 16,603 |
| Cash, cash equivalents, and restricted cash at end of period | $54,590 | $37,547 |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest | $— | $2,987 |
| Cash paid for income taxes, net of refunds | $142 | $141 |
| Non-cash investing and financing transactions: | ||
| Purchases of property and equipment included in accounts payable | $164 | $105 |
| Right-of-use assets obtained in exchange for new lease liabilities | $30 | $— |
| Warrants issued in connection with debt amendments | $1,280 | $— |
| Common stock issued upon conversion of Convertible Note (14,104,620 shares) | $222,571 | $— |
| The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows: | ||
| Cash and cash equivalents | $54,449 | $37,404 |
| Restricted cash | 141 | 143 |
| Total cash, cash equivalents and restricted cash at the end of period | $54,590 | $37,547 |
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