EU and US could reach trade deal this weekend - Reuters
SAN JOSE, Calif. - Quantum Corporation (NASDAQ:QMCO), a provider of data management solutions currently trading at $11.05 per share with a market capitalization of $64.47 million, has released preliminary financial results for its fiscal fourth quarter ended March 31, 2025. The company expects to report revenue between $65 million and $67 million, aligning with its guidance of $66 million, plus or minus $2.0 million. The anticipated gross margin stands at approximately 44%, plus or minus 1%. According to InvestingPro data, the company has been experiencing significant revenue challenges, with a -18.16% decline in the last twelve months.
The company also projects a GAAP net loss of around $3.5 million, with a possible deviation of $1.0 million. Quantum plans to announce its complete financial results for both the fiscal fourth quarter and the full fiscal year in mid-June 2025. InvestingPro analysis reveals concerning financial health indicators, with a weak overall score of 1.31 out of 5 and significant debt obligations totaling $146.4 million.
Quantum specializes in end-to-end data management tailored for AI applications, serving sectors including life sciences, government, media, and industrial technology. Despite the preliminary nature of these results, the company has yet to finalize its financial statements or receive an audit completion for the full fiscal year by independent auditors. For deeper insights into Quantum’s financial position and growth prospects, investors can access the comprehensive Pro Research Report available exclusively on InvestingPro, which covers over 1,400 US stocks with detailed analysis and actionable intelligence.
The provided figures are subject to adjustments that may arise as the financial closing process concludes and the audit progresses. These potential adjustments could materially affect the reported preliminary results. Currently, analysts maintain a hold consensus on the stock, with price targets ranging between $18 and $20, though two analysts have recently revised their earnings expectations downward for the upcoming period.
The company’s forward-looking statements, included in the press release, are based on current expectations and projections about future events and financial trends that could affect Quantum’s business. These statements are inherently uncertain and subject to a variety of risks, including the completion of the annual financial close process and the outcome of the independent audit.
Quantum’s press release contains forward-looking statements that are not guarantees of future performance and are subject to risks and uncertainties. The company has cautioned investors that these statements are based on current expectations and assumptions, which may change, and that actual results could differ materially. These cautionary statements are standard in press releases of this nature to inform stakeholders of the inherent uncertainties of business forecasts.
This news article is based on a press release statement from Quantum Corporation.
In other recent news, Quantum Corporation announced the approval of significant shareholder proposals at a special meeting. These include the issuance of up to $200 million in common stock under a Standby Equity Purchase Agreement, which aligns with Nasdaq listing requirements. Additionally, Grant Thornton LLP was confirmed as the independent registered public accounting firm for the fiscal year ending March 31, 2026. In a strategic move, Quantum appointed Lewis W. Moorehead as the new Chief Financial Officer, succeeding Kenneth P. Gianella, who will remain in an advisory role temporarily. Concurrently, John A. Fichthorn rejoined the board, bringing financial expertise from Dialectic Capital Management, which recently acquired Quantum’s outstanding term debt. Quantum also reported the resignation of board member Christopher D. Neumeyer, who stepped down without any disagreements with the company. Meanwhile, Quantum Computing Inc. reported fourth-quarter revenue of $62,000, missing the consensus estimate of $400,000, and adjusted earnings per share of -$0.47, below analyst projections. Despite the revenue shortfall, the company noted an improved gross margin of 55% and plans to launch its Quantum Photonic Chip Foundry in early 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.