Quantum Corp Posts $91.5M Net Loss for Nine Months Ending December 2025

Quantum Corp reported a net loss of $91.5 million for the nine months ending December 31, 2025, compared to a loss of $107.3 million in the year-earlier period. The Delaware-based data storage company burned through $37.4 million in operating cash during the nine-month period, nearly double the $20.3 million consumed in the prior year. Read more earnings reports.

Revenue declined 5% to $201.6 million from $212.8 million. For the three months ending December 31, 2025, revenue climbed 20% to $74.6 million from $68.7 million a year earlier, while the quarterly net loss narrowed to $27.8 million from $75.3 million.

Operating Performance

Gross profit for the nine-month period fell 12% to $75.2 million from $85.6 million, despite cost of goods sold declining slightly to $126.4 million from $127.2 million. Operating expenses dropped 16% to $97.1 million from $115.7 million, with research and development spending cut 26% to $17.9 million from $24.3 million.

The company recorded an operating loss of $21.9 million for the nine months, compared to a $30.1 million operating loss in the prior-year period. For the December quarter alone, operating loss narrowed to $1.2 million from $7.7 million.

Balance Sheet Pressure

Total stockholders' deficit widened to $184.2 million as of December 31, 2025, from $164.4 million at the end of fiscal March 2025. Retained deficit expanded to $1.03 billion from $942.5 million.

Cash and cash equivalents dropped to $13.2 million from $16.5 million at the fiscal year-end. Total assets declined to $149.3 million from $155.4 million. Current liabilities fell to $203.2 million from $257.6 million, while long-term debt surged to $75.9 million from zero at the prior fiscal year-end.

Share Structure

Common shares outstanding more than doubled to 14.1 million as of December 31, 2025, from 7.0 million at the end of fiscal March 2025. For the nine-month period, the company reported a loss per diluted share of $7.58, compared to a loss of $22.22 in the prior year, on a weighted average share count of 12.1 million versus 4.8 million.

Key Financial Data

Accounts receivable increased to $59.4 million from $52.5 million at the prior fiscal year-end, while inventory declined to $17.6 million from $22.4 million. Deferred revenue dropped to $33.4 million from $40.1 million a year earlier.