Quantum: Fiscal 4Q26 and FY26 Financial Results

Quantum Corp., announced financial results for its fiscal fourth quarter and full year 2026 ended March 31, 2026.Fiscal Fourth Quarter 2026 Financial Summary

• Revenue increased 27% YoY to $78.0 million, exceeding guidance of $68 million, plus or minus $2 million
• GAAP operating expenses were $30.4 million; non-GAAP adjusted operating expenses were $27.5 million, reflecting a $2.0 million YoY reduction
• GAAP net loss was $9.5 million, or ($0.66) per share
• Non-GAAP adjusted net loss was $3.1 million, or ($0.21) per share, which is a $9 million improvement YoY
• Adjusted EBITDA was $1.0 million

“Quantum delivered strong fourth quarter results with revenue of $78 million, representing 27% growth YoY. This performance reflects robust demand for our tiered storage solutions as the proliferation of AI-driven data rapidly reshapes the industry and enterprise storage infrastructure requirements,” commented Hugues Meyrath, CEO, Quantum. “With the exploding volume of data, rising storage costs, and increasing power constraints, organizations are rethinking how they store, manage, and protect their most valuable assets. Quantum is uniquely positioned to help customers reduce their dependence on constrained, high-cost components with differentiated, power-efficient storage solutions that provide long-term data resilience.”

“As we look to fiscal 2027, Quantum is operating from a position of renewed strength and expanding strategic relevance. Over the past year, we have transformed our business by significantly lowering our cost structure, while also sharpening our sales execution and go-to-market strategy. And more recently, we successfully completed a series of transactions that eliminated our outstanding debt and added cash to the balance sheet in support of our growth initiatives. Although supply chain constraints remain an industry-wide challenge, we are seeing clear momentum in our pipeline and backlog. We remain committed to executing with discipline as we continue to drive toward long-term sustainable growth, margin expansion and value creation for our shareholders.”

Fiscal Fourth Quarter 2026 vs. Prior Fiscal Year
Revenue for the fiscal fourth quarter of 2026 was $78.0 million, compared to $61.3 million in the prior year fourth quarter. GAAP gross profit in the fiscal fourth quarter of 2026 was $27.8 million, or 35.7% of revenue, compared to $24.2 million, or 39.6% of revenue, in the fiscal fourth quarter of 2025.

Total GAAP operating expenses in the fiscal fourth quarter of 2026 were $30.4 million, or 39.0% of revenue, compared to $35.8 million, or 58.5% of revenue, in the prior year. Total operating expenses on a non-GAAP basis for the fiscal fourth quarter of 2026 were $27.5 million, compared to $29.4 million in the fiscal fourth quarter of 2025.

GAAP net loss in the fiscal fourth quarter of 2026 was $9.5 million, or ($0.66) per share, compared to a net loss of $7.7 million, or ($1.26) per share, in the fiscal fourth quarter of 2025. Excluding stock compensation, restructuring charges and other non-recurring costs, non-GAAP adjusted net loss in the fiscal fourth quarter of 2026 was $3.1 million, or ($0.21) per share, compared to adjusted net loss of $12.1 million, or ($1.98) per share, in the prior year fourth quarter.

Non-GAAP adjusted EBITDA in the fiscal fourth quarter of 2026 was $1.0 million, compared to negative $3.9 million in the fiscal fourth quarter of 2025.

For a reconciliation of GAAP to non-GAAP financial results, please see the financial reconciliation tables below.

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Liquidity and Debt (as of March 31, 2026)

• Cash, cash equivalents and restricted cash were $16.2 million, compared to $16.6 million as of March 31, 2025
• Total interest expense for the three- and twelve-month periods were $2.9 million and $21.6 million, respectively, compared to $6.8 million and $24.0 million for the same periods a year ago
• Outstanding term loan debt, excluding debt issuance costs, was $55.9 million, compared to $102.5 million as of March 31, 2025
• The new convertible note was fair valued at $90.0 million

Business Outlook
Fiscal first quarter 2027 guidance is as follows:

• Revenue of $75.0 million, plus or minus $2 million
• Non-GAAP adjusted operating expenses of $27 million, plus or minus $1 million
• Non-GAAP adjusted basic net loss per share of ($0.15), plus or minus $0.10
• Non-GAAP adjusted EBITDA of $1.5 million, plus or minus $1 million

This assumes an effective annual tax rate of 3%; non-GAAP adjusted net loss per share assumes an average basic share count of approximately 24 million in the fiscal first quarter of 2027.