Quantum Stock Earnings Reports

Quantum reported fiscal Q1 2026 revenue of $64.3M (down vs. prior year and slightly up sequentially) with GAAP gross margin 35.3% and a GAAP net loss of $17.2M. Backlog was ~$10M. The company reduced net debt to ~$66.8M and raised roughly $83M of equity through a standby purchase agreement, paid off and terminated its revolver, and is negotiating term-debt restructuring. Management executed cost-reduction and restructuring actions; non-GAAP OpEx is expected to decline to about $27M in Q2, helping adjusted EBITDA move from negative $6.5M in Q1 to roughly breakeven in Q2. Q2 revenue guidance is ~$61M +/- $2M and non-GAAP adjusted net loss per share is expected around -$0.26 (+/- $0.10) on ~13.3M shares. Operational priorities include sharpening go-to-market execution, strengthening the sales organization (new CRO Tony Craythorne and VP Americas Gregg Pugmire), board additions for supply chain and sales expertise, and a product-first focus on DXi (all‑flash dedupe appliances), ActiveScale cold storage, tape (Scalar i7 RAPTOR), and StorNext improvements. Management emphasized improved sales discipline, partner/channel focus, tighter sales-to-product feedback loops, and delivering positive cash flow/EBITDA. Key near-term risks remain revenue mix sensitivity to gross margin (hyperscaler mix), tariffs, inventory provisions (end-of-life products), and ongoing debt restructuring outcomes.