The key catalyst is the completed balance-sheet restructuring — elimination of term debt and conversion of convertible notes removes a heavy overhang and frees cash flow for growth. Monitor FQ1 2027 guidance for sequential revenue stablization: $75M guidance is still up ~22% YoY vs the prior-year FQ1 of ~$61M. If revenue meets or exceeds $75M and margins hold, the stock should re-rate higher in the weeks ahead.
Price Chart
Executive Summary
Quantum reported FQ4 2026 revenue of $78.0M, up 27% YoY and above guidance of $68M (+/- $2M). GAAP EPS was ($0.66), while non-GAAP adjusted EPS was ($0.21). The company eliminated outstanding debt via a June 2026 equity issuance and conversion of convertible notes, leaving a strengthened balance sheet for growth initiatives. Revenue beat guidance and sequential/fiscal-year prospects are improving, but GAAP profitability remains distant and guidance for FQ1 2027 implies a sequential revenue decline.
Key Financial Metrics
Key Facts
- Revenue $78.0M in FQ4 2026, up 27% YoY from $61.3M
- Revenue exceeded the $68M (+/- $2M) guidance midpoint
- GAAP net loss of $9.5M or ($0.66) per share; non-GAAP net loss of $3.1M or ($0.21) per share
- Non-GAAP adjusted EBITDA was positive $1.0M, vs. ($3.9M) in the prior year period
- Outstanding term loan debt reduced from $102.5M to $55.9M YoY; debt extinguished via June 2026 equity issuance and convertible note conversion
- Guidance for FQ1 2027: revenue of $75.0M (+/- $2M), non-GAAP adjusted EPS ($0.15) +/- $0.10, non-GAAP EBITDA of $1.5M +/- $1M
- The cross-filing context (Sixteenth Amendment to Term Loan) details a June 2026 equity raise of at least $50M and conversion of Dialectic convertible notes, eliminating the overhang
Financial Impact
Revenue grew 27% YoY to $78.0M, well above the $68M guidance midpoint. GAAP gross margin compressed to 35.7% from 39.6% but operating expenses fell sharply as a percent of revenue (39.0% vs 58.5%). Debt reduced from $102.5M to $55.9M and further extinguished via post-quarter-end transactions.
Risk Factors
- GAAP gross margin declined 390 bps YoY (39.6% to 35.7%) despite higher revenue
- Guidance implies sequential revenue decline from $78M to $75M; operating expenses expected to rise slightly
- Still GAAP net-loss-making — positive EBITDA is thin at $1.0M
- Supply-chain constraints cited as an ongoing industry challenge
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-045529 |
| Document: qtm-20260625.htm | 0001628280-26-045529 |
| Document: 0001628280-26-045529-index-headers.html | 0001628280-26-045529 |
| Document: 0001628280-26-045529-index.html | 0001628280-26-045529 |
| Document: 0001628280-26-045529.txt | 0001628280-26-045529 |
| 8-K Data (Synthetic) | 0001628280-26-045529 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 10, 2026 7w ago | 8-K | $19.40 $24.24 | ▲ +24.95% | ▲ +26.01% | $34.50 (+77.84%) |
Jul 27, 2026 9w ago | EFFECT | $10.97 $21.56 | ▼ −96.54% | ▼ −93.24% | $34.50 (−214.49%) |
Jun 25, 2026 14w ago | 8-K | $11.65 $11.55 | ▼ −0.86% | ▼ −2.12% | $34.50 (+196.14%) |
Jun 2, 2026 17w ago | 8-K | $12.54 $10.93 | ▼ −12.84% | ▼ −11.27% | $34.50 (+175.12%) |
US Market Status
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