Quantum Corp. reported a GAAP net loss of $155.3 million for its fiscal first quarter.
One-time non-cash charges from a balance sheet restructuring drove the reported loss. The company successfully eliminated its entire $104.3 million in outstanding debt through this process.
Excluding restructuring items, adjusted net income reached $4.0 million, or $0.18 per share. This result marks the company’s first non-GAAP profitable quarter since 2023.
Revenue grew 26% year-over-year to $80.8 million. The performance exceeded both internal guidance and analyst expectations. Management cited a record backlog and strong demand, despite ongoing supply constraints.