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SAN JOSE, CA—On April 21, 2025, Lewis (JO:LEWJ) W. Moorehead, the Chief Accounting Officer of Quantum Corp (NASDAQ:QMCO), reported a sale of 179 shares of the company’s common stock. The transaction comes as the company faces challenging conditions, with InvestingPro data showing significant debt burden and a weak overall financial health score of 1.13. The shares were sold at a weighted average price of $9.6488, generating a total of approximately $1,727. These shares were sold as part of block trades for multiple security holders, with prices ranging from $9.6144 to $9.67.
Additionally, Moorehead acquired 333 shares of common stock without any cash consideration, as part of a performance-based stock unit vesting. Following these transactions, Moorehead’s direct ownership stands at 24,971 shares.
In other recent news, Quantum Computing Inc. reported its fourth-quarter 2024 financial results, which did not meet analyst expectations. The company posted a revenue of $62,000, significantly below the anticipated $400,000, and reported adjusted earnings per share of -$0.47, missing projections of -$0.08. Despite the revenue shortfall, Quantum Computing Inc. improved its gross margin to 55% from 13% in the same quarter last year, attributing this to reduced costs of goods sold. The company ended the quarter with $78.9 million in cash and cash equivalents, a substantial increase from $2 million at the end of 2023, primarily due to $92.1 million raised through common stock offerings. Meanwhile, Quantum Corporation has made notable leadership changes, appointing Lewis W. Moorehead as the new Chief Financial Officer, succeeding Ken Gianella, and welcoming John A. Fichthorn back to its Board of Directors. Fichthorn’s return coincides with Dialectic Capital Management acquiring Quantum’s $51 million outstanding term debt from Blue Torch Capital. Additionally, Christopher D. Neumeyer resigned from Quantum Corporation’s board, with the company maintaining its lending relationship with PIMCO, where Neumeyer serves as an executive. These developments reflect Quantum Corporation’s strategic efforts to enhance its financial and operational agility.
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