Quantum Corp. Files 2024 10-K

TL;DR

Quantum Corp. filed its 2024 10-K, detailing FY performance ending March 31.

AI Summary

Quantum Corp. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its business operations. The company, headquartered in San Jose, CA, is involved in the computer storage devices industry. This filing provides a comprehensive overview of its financial performance and strategic positioning for the reporting period.

Why It Matters

This filing provides investors and analysts with the official financial and operational details of Quantum Corp. for the fiscal year 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — This is a standard annual report filing and does not inherently contain new risk-triggering information.

Key Numbers

• 2024-03-31 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2024-06-28 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• QUANTUM CORP /DE/ (company) — Filer
• 20240331 (date) — Fiscal Year End
• 20240628 (date) — Filing Date
• San Jose, CA (location) — Business Address
• 408 944 4000 (phone) — Business Phone

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share QMCO Nasdaq Global

Filing Documents

• qtm-20240331.htm (10-K) — 5601KB
• quantum-ex32toform10xkfy24.htm (EX-3.2) — 236KB
• quantum-ex1032toform10xkfy.htm (EX-10.32) — 169KB
• quantum-ex1033toform10xkfy.htm (EX-10.33) — 79KB
• exhibit1049offer_letterxsp.htm (EX-10.49) — 13KB
• fy2410-kexhibit231consent.htm (EX-23.1) — 2KB
• fy24ex232armaninoconsent.htm (EX-23.2) — 3KB
• exhibit-311q424.htm (EX-31.1) — 10KB
• exhibit-312q424.htm (EX-31.2) — 10KB
• exhibit-321q424.htm (EX-32.1) — 4KB
• exhibit-322q424.htm (EX-32.2) — 4KB
• image_0.jpg (GRAPHIC) — 8KB
• image_1.jpg (GRAPHIC) — 0KB
• image_2.jpg (GRAPHIC) — 0KB
• image_4.jpg (GRAPHIC) — 4KB
• qtm-20240331_g1.jpg (GRAPHIC) — 12KB
• qtm-20240331_g2.jpg (GRAPHIC) — 66KB
• 0000709283-24-000014.txt ( ) — 29567KB
• qtm-20240331.xsd (EX-101.SCH) — 77KB
• qtm-20240331_cal.xml (EX-101.CAL) — 121KB
• qtm-20240331_def.xml (EX-101.DEF) — 624KB
• qtm-20240331_lab.xml (EX-101.LAB) — 960KB
• qtm-20240331_pre.xml (EX-101.PRE) — 940KB
• qtm-20240331_htm.xml (XML) — 7549KB

Business

Business 5 Item 1A .

Risk Factors

Risk Factors 12 Item 1B . Unresolved Staff Comments 29 Item 1C . Cybersecurity 29 Item 2 .

Properties

Properties 30 Item 3 .

Legal Proceedings

Legal Proceedings 30 Item 4. Mine Safety Disclosures 30 PART II Item 5 . Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 31 Item 6 . [Reserved] 33 Item 7 .

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A .

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 56 Item 8 .

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 57 Item 9 . Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 127 Item 9A .

Controls and Procedures

Controls and Procedures 127 Item 9B . Other Information 128

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 128 PART III Item 10 . Directors, Executive Officers and Corporate Governance 129 Item 11 .

Executive Compensation

Executive Compensation 129 Item 12 .

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 129 Item 13 . Certain Relationships and Related Transactions, and Director Independence 129 Item 14 . Principal Accounting Fees and Services 129 PART IV Item 15 . Exhibits, Financial Statement Schedules 130 Item 16 . Form 10-K Summary 134

Signatures

Signatures 135 Power of Attorney 135 i Table of Contents As used in this Annual Report on Form 10-K (this "Annual Report"), the terms the "Company," "Quantum," "we," "us," and "our" refer to Quantum Corporation and its subsidiaries taken as a whole, unless otherwise noted or unless the context indicates otherwise. Note Regarding Forward-Looking Statements This Annual Report contains forward-looking statements. All statements contained in this report other than statements of historical fact, including, but not limited to, statements regarding our future operating results and financial position; our business strategy, focus and plans; our market growth and trends; our products, services and expected benefits thereof; and our objectives for future operations, are forward-looking statements. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "could," "would," "project," "plan," "potentially," "preliminary," "likely," and similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including the competitive pressures that we face; risks associated with executing our strategy; the impact of macroeconomic and geopolitical trends and events; the need to manage third-party suppliers and the distribution of our products and the delivery of our services effectively; the protection of our intellectual property assets, including intellectual property licensed from third parties; risks associated with our international operations; the development and transition of new products and services and the enhancement of exi

BUSINESS

ITEM 1. BUSINESS Overview Quantum delivers end-to-end data management solutions designed for unstructured data in the artificial intelligence ("AI") era. From high-performance ingest that powers AI applications and demanding data-intensive workloads to massive, durable data lakes to fuel AI models, Quantum delivers one of the most comprehensive and cost-efficient solutions for the entire data lifecycle. We specialize in solutions for video, images, audio, and other large files because this unstructured data represents more than 80% of all data being created according to leading industry analyst firms. Unstructured data poses both immense potential and significant challenges for organizations looking to retain and analyze their data for AI and other initiatives. Effectively managing and leveraging this data with an intelligent data management platform is not just an option but a necessity for businesses aiming to uncover hidden insights and create value. Unstructured data is exponentially larger than traditional corporate data, contains tremendous value, and must be captured, protected, and stored for many years, decades, and longer. It is no longer just about storing data— organizations need to extract value from their unique data to gain a competitive advantage. Locked inside video, imagery, security camera footage, scientific data sets, and other sensor-derived data is a wealth of information for informed decision-making. Products and Services Our portfolio of products includes primary storage software and systems, secondary storage software and systems, as well as devices and media. Highly Performant Primary Storage Software and Systems include: Myriad All-Flash Software-Defined Storage: All-flash scale-out file and object storage for high performance enterprise unstructured data applications such as AI, machine learning, and data analytics. StorNext Hybrid Flash/Disk File Storage Software: For video editing, post-production, and streaming applications,

View Full Filing

View this 10-K filing on SEC EDGAR