Quantum Corporation
- Open
- 20.80
- Day high
- 22.40
- Day low
- 20.80
- Prev close
- 20.49
- Volume
- 1.5M
- Mkt cap
- $877M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- -31.5
- P/S
- 3.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$84K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions reducing (13F)
Quantum Corporation (QMCO) is a Technology company listed on NASDAQ. The stock is up 165% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Quantum Corporation (QMCO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
QMCO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 10, 2026 | $-0.17 | $0.18 | +205.9% | $81M | +7.7% |
| Feb 17, 2026 | $-0.42 | $-0.36 | +14.3% | $75M | +9.7% |
| Nov 13, 2025 | $-0.25 | $-0.54 | -116.0% | $63M | -4.8% |
| Sep 12, 2025 | $-0.33 | $2.00 | +706.1% | $64M | -12.8% |
| Feb 12, 2025 | $-0.70 | $-0.81 | -15.7% | $73M | +10.2% |
| Sep 5, 2024 | — | $-0.70 | — | $76M | — |
| Jun 17, 2024 | $-0.04 | $-0.07 | -75.0% | $72M | -76.6% |
| Jun 6, 2023 | $-0.80 | $-0.80 | +0.0% | $105M | +3.2% |
| Feb 2, 2023 | $-0.20 | $0.40 | +300.0% | $111M | +5.9% |
| Nov 2, 2022 | $-0.40 | $-0.20 | +50.0% | $99M | +4.9% |
| Aug 4, 2022 | $-0.80 | $-0.80 | +0.0% | $97M | +3.2% |
| Jun 8, 2022 | $-1.20 | $-0.80 | +33.3% | $95M | +4.0% |
QMCO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 5, 2026 | Craythorne Anthonyofficer: Chief Revenue Officer | Sell | 1,478 | $10.73 |
| Jul 7, 2026 | Nash Laura A.officer: Chief Accounting Officer | Sell | 260 | $10.51 |
| Jul 7, 2026 | Meyrath Huguesdirector, officer: President & CEO | Sell | 6,232 | $10.51 |
| Jun 8, 2026 | FICHTHORN JOHNdirector, 10 percent owner: | Grant | 3,083,975 | $5.19 |
| Jun 8, 2026 | Dialectic Technology SPV LLC10 percent owner | Grant | 3,083,975 | $5.19 |
| Apr 3, 2026 | Craythorne Anthonyofficer: Chief Revenue Officer | Grant | 148,500 | $5.03 |
| Apr 3, 2026 | Nash Laura A.officer: Chief Accounting Officer | Sell | 109 | $5.44 |
| Apr 3, 2026 | Nash Laura A.officer: Chief Accounting Officer | Grant | 49,500 | $5.03 |
| Apr 3, 2026 | Meyrath Huguesdirector, officer: President & CEO | Grant | 850,000 | $5.03 |
| Mar 4, 2026 | White William Hillisofficer: Chief Financial Officer | Grant | 25,000 | — |
| Jan 5, 2026 | Jaworksi Dondirector | Grant | 12,000 | — |
| Jan 5, 2026 | Meyrath Huguesdirector, officer: President & CEO | Grant | 50,000 | $6.45 |
| Jan 5, 2026 | Blevins Tony Jdirector | Grant | 12,000 | — |
| Jan 5, 2026 | Meyrath Huguesdirector, officer: President & CEO | Grant | 62,500 | — |
| Jan 5, 2026 | Craythorne Anthonyofficer: Chief Revenue Officer | Grant | 15,000 | — |
Source: QMCO SEC Form 4 filings, latest Aug 5, 2026. For informational purposes only — not investment advice.
See the full QMCO insider & 13F page →Quantum Corporation company profile
Overview
Quantum Corporation (NASDAQ:QMCO) is a data storage and management technology company founded in 1980 and headquartered in San Jose, California. The company went public in 1999 and has evolved from its origins as a hard drive manufacturer into a specialized provider of data storage solutions for video, unstructured data, and backup applications. Quantum focuses primarily on secondary storage systems, tape storage, and data protection appliances, serving customers in media and entertainment, government, healthcare, and enterprise markets. The company has been undergoing a significant business transformation in recent years, shifting from hardware sales to subscription-based software and services while targeting high-growth markets like artificial intelligence and machine learning data storage.
Business
Quantum Corporation operates in the data storage industry, providing specialized solutions for organizations that need to store, manage, and protect large volumes of digital content and unstructured data. The company's business is organized around several key product categories that address different aspects of data storage and management. Secondary Storage Systems represent Quantum's largest revenue segment, generating approximately 56% of total revenue. This includes the company's flagship StorNext software platform, which enables high-speed data workflows for media production, scientific computing, and other applications requiring rapid access to large files. The Scalar tape systems provide long-term archival storage using Linear Tape-Open (LTO) technology, offering cost-effective storage for data that needs to be preserved for decades. The newer i7 RAPTOR tape solution is specifically designed for AI workloads and can store over 2,000 tape cartridges per rack. Data Protection and Backup Solutions account for roughly 20% of revenue through the DXi product family, which includes backup appliances and all-flash systems designed for enterprise data protection and disaster recovery. These systems help organizations protect against data loss and enable rapid recovery from system failures or cyberattacks. Primary Storage Solutions comprise about 15% of revenue and include the company's newer ActiveScale object storage systems for online content repositories and the Myriad all-flash storage platform targeting AI and machine learning applications. These products address the growing need for high-performance storage in data-intensive computing environments. Services and Support generate approximately 40% of total revenue and include maintenance contracts, professional services, installation, training, and the company's growing subscription software offerings. The company has been aggressively transitioning customers to subscription models, with over 90% of new software sales now delivered as subscriptions. Video Surveillance and Security solutions, acquired through the Pivot3 acquisition, provide hyperconverged storage systems and analytics platforms for security applications, representing a smaller but growing segment of the business.
Revenue model
Quantum Corporation generates revenue through multiple business models reflecting its transition from a traditional hardware vendor to a software and services company. The company's revenue streams include product sales of storage hardware systems, software licensing and subscriptions, and ongoing services and support contracts. Product Sales historically represented the majority of revenue, with customers purchasing tape systems, backup appliances, and storage hardware outright. However, this model has been declining as the company shifts toward recurring revenue streams. Hardware sales are typically higher-margin for specialized systems like the i7 tape platform but face pressure from commodity pricing in competitive segments. Subscription and Software Revenue has become increasingly important, with Annual Recurring Revenue (ARR) now representing 49% of total revenue at $141 million. The company's "Quantum GO" subscription model bundles hardware, software, and services into predictable monthly payments. Subscription ARR has grown 29% year-over-year to $21.3 million, with over 1,000 customers now on subscription plans. This model provides more predictable cash flows and higher customer lifetime value. Services Revenue includes maintenance contracts, professional services, installation, and training, generating steady recurring income from the installed base. The company maintains high renewal rates of nearly 100% on service contracts, providing stability during hardware market fluctuations. The company's customers span multiple sectors including media and entertainment companies that need high-speed video editing workflows, government agencies requiring secure long-term data archival, healthcare organizations managing medical imaging data, and enterprises seeking data protection solutions. The federal government segment has been particularly strong, growing 54% year-over-year. Several factors influence Quantum's profitability and margins. Positive margin drivers include the shift toward higher-margin subscription revenue, focus on differentiated products like the i7 tape system, expansion in federal markets which typically offer better pricing, and operational efficiency improvements that have reduced expenses by $40 million annually. Negative margin pressures come from supply chain constraints that increase component costs, competitive pricing in commodity storage markets, the need for continued R&D investment in new technologies like AI storage solutions, and the costs associated with the business model transition including sales force retraining and customer migration expenses.
Competitive moat
Quantum Corporation operates in a highly competitive storage industry with limited sustainable competitive advantages, though the company has developed some defensible positions in specific niches. The company's primary moat comes from its specialized expertise in high-performance workflows and long-term data archival, particularly in the media and entertainment vertical where StorNext software has become deeply integrated into production workflows at major studios and broadcasters. The company's technical specialization in tape storage provides some protection, as Quantum has decades of expertise in Linear Tape-Open (LTO) technology and maintains relationships with tape drive manufacturers. The economics of tape storage for long-term archival remain compelling compared to disk or cloud alternatives, creating a stable if slowly declining market. The new i7 RAPTOR system represents an attempt to extend this moat into AI and machine learning workloads where massive datasets need cost-effective long-term storage. Customer switching costs provide moderate protection, particularly for the StorNext platform where media workflows are deeply integrated and migration would be disruptive and expensive. The company's high service contract renewal rates of nearly 100% suggest customers find value in maintaining relationships rather than switching vendors. However, Quantum's moat is relatively weak overall. The company faces intense competition from much larger players including Dell EMC, NetApp, IBM, and cloud providers like Amazon Web Services who can offer broader product portfolios and more aggressive pricing. The storage industry has become increasingly commoditized, with open-source alternatives and cloud storage putting pressure on traditional hardware vendors. The company's financial constraints limit its ability to invest in R&D at the same pace as larger competitors, and its small scale provides little leverage with suppliers or customers. The transition to subscription models, while strategically necessary, has created near-term revenue and cash flow challenges that constrain the company's competitive position. New technologies like object storage and cloud-native architectures threaten to disrupt Quantum's traditional tape and file system-based approaches.
Risks & safety
Quantum Corporation presents significant financial risk with a very limited margin of safety, reflecting the company's distressed financial condition and ongoing business challenges. • Liquidity Crisis: Cash position of only $20.4 million against current liabilities of $305.5 million creates severe near-term solvency risk. Current ratio of 0.37 indicates inability to meet short-term obligations without additional financing. • Debt Burden: Total liabilities of $363.1 million exceed total assets of $168.1 million, resulting in negative book value of -$195 million. The company has secured covenant forbearance from lenders but faces ongoing refinancing challenges. • Operating Losses: Negative EBITDA of -$63.4 million and free cash flow of -$4.2 million in Q3, though the company achieved positive adjusted EBITDA of $4.7 million on a non-GAAP basis, showing some operational improvement. • Valuation Metrics: Negative price-to-earnings and price-to-book ratios reflect the company's losses and negative equity. Enterprise value to EBITDA of -1.54x is not meaningful given negative EBITDA. • Going Concern: The company has entered a standby equity purchase agreement with Yorkville Advisors to provide additional liquidity, but this dilutes existing shareholders. Management projects achieving cash flow positive operations in fiscal 2026, but execution risk is high given the company's track record of losses.
Recent development
Over the past several years, Quantum Corporation has undergone a comprehensive business transformation aimed at shifting from a traditional hardware vendor to a software and services company focused on high-growth data storage markets. The company has made significant strategic pivots while simultaneously addressing severe financial constraints. Business Model Transformation: The most significant development has been Quantum's aggressive shift toward subscription-based revenue models. The company launched its "Quantum GO" subscription platform and has successfully converted over 90% of new software sales to subscriptions, growing subscription ARR by 29% year-over-year to $21.3 million. Total ARR now represents 49% of revenue at $141 million, providing more predictable cash flows and higher customer lifetime value. Product Innovation and Market Focus: Quantum has launched several new products targeting high-growth markets. The Myriad all-flash storage platform specifically targets AI and machine learning workloads, while the ActiveScale object storage system addresses cloud-native applications and large-scale data repositories. The company introduced the i7 RAPTOR tape system with unprecedented density for AI workflows and launched new DXi T-Series all-flash data protection appliances with advanced cybersecurity features. Market Repositioning: The company has strategically focused on higher-margin, more defensible market segments including federal government, defense, and intelligence markets where it achieved 54% year-over-year growth. Quantum has also strengthened its position in media and entertainment, life sciences, and healthcare verticals where its specialized workflow expertise provides competitive advantages. Financial Restructuring: Facing severe liquidity constraints, Quantum completed multiple financial restructuring efforts including securing $25 million in additional liquidity, restructuring over $110 million of existing debt, and entering a standby equity purchase agreement with Yorkville Advisors. The company also implemented aggressive cost reduction measures, targeting $40 million in annual savings while reducing headcount by over 10%. Operational Efficiency: Management has focused intensively on operational improvements, reducing non-GAAP operating expenses by 6% year-over-year while achieving positive adjusted EBITDA of $4.7 million in Q3 2025. The company divested non-core assets including service inventory for $15 million and streamlined operations to focus on core growth areas.
QMCO company profile · for informational purposes only — not investment advice.
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