Q1 2026 Quantum Corp Earnings Call Transcript
Key Points
- Quantum Corp (QMCO) reported a revenue increase to $64.3 million in the first fiscal quarter of 2026, up from $61.3 million in the previous quarter.
- The company successfully reduced its net debt position by more than 40% from the end of fiscal 2025, improving its financial stability.
- Quantum Corp (QMCO) raised approximately $83 million in new capital through a standby equity purchase agreement, strengthening its balance sheet.
- The company launched new DXi T-Series models, positioning itself to capture market share in the multi-billion dollar backup market.
- Quantum Corp (QMCO) has strengthened its executive team and Board with experienced leaders to guide its next chapter of growth.
- Quantum Corp (QMCO) experienced a decrease in revenue compared to the prior year first quarter, reflecting a shift in product mix.
- The company reported a GAAP net loss of $17.2 million for the first fiscal quarter, an increase from the previous quarter's loss.
- Gross margins decreased to 35.3% from 39.6% in the previous quarter, primarily due to increased inventory provisions and import tariffs.
- Non-GAAP loss for the first quarter was $14.5 million, higher than the previous quarter's loss, due to lower revenues and increased costs.
- Adjusted EBITDA was negative $6.5 million, worsening from the previous quarter, indicating ongoing financial challenges.
Good afternoon and welcome to Quantum Corporation's fiscal first-quarter 2026 financial results conference call. (Operator Instructions) As a reminder, this conference call is being recorded today, Wednesday, September 10, 2025.
I would now like to turn the call over to Tara Ilges, Quantum's Vice President of Corporate Affairs. Tara, please go ahead.
Good afternoon and thank you for joining today's conference call to discuss Quantum's first-quarter fiscal 2026 financial result. With me on today's call are Hugues Meyrath, Quantum's CEO; and Laura Nash, Chief Accounting Officer. Following management's prepared remarks, we will open the call to questions from analysts.
Before we begin, I would like to remind you that comments made on today's call may include forward-looking statements. All statements, other than statements of historical fact, should be viewed as forward-looking, including any projections of revenue, margins, expenses, adjusted EBITDA, adjusted
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