$7,08....Management Commentary“Revenue for the quarter was at the high-end of the expected range, which we believe reflects the initial traction from our decisive actions to refresh and reinvigorate our sales organization,” stated Hugues Meyrath, CEO of Quantum. “We also began driving initial improvement toward our targeted margin profile for the overall business, with second quarter GAAP gross margin expanding 230 basis points sequentially. Additionally, we are making progress on our ongoing restructuring efforts aimed at right-sizing the business, which resulted in a more than reduction in non-GAAP operating expenses and achievement of positive non-GAAP adjusted EBITDA for the quarter.“As a result of the actions to transform our cost structure and balance sheet, including the recently proposed debt exchange transaction, we have taken steps to meaningfully enhance the long-term financial stability of the Company. Overall, we are pleased by the initial progress we have demonstrated in a relatively short period of time. With our new sales leadership and go-to-market strategy combined with a strengthened financial structure, we believe that Quantum has the foundation in place to grow the business and deliver on our goals of expanded EBITDA and positive cash flow in the near future.”Fiscal Second Quarter 2026 vs. Prior Quarter and Fiscal Year QuarterRevenue for the fiscal second quarter of 2026 was , compared to in the fiscal second quarter of 2025. GAAP gross profit in the fiscal second quarter of 2026 was , or 37.6% of revenue, compared to , or 42.7% of revenue, in the prior fiscal year quarter. Non-GAAP gross profit in the fiscal second quarter of 2026 was , or 38.6% of revenue, compared to , or 42.9% of revenue, in the prior fiscal year quarter.Total GAAP operating expenses in the fiscal second quarter of 2026 were , or 50.6% of revenue, compared to , or 50.4% of revenue, in the fiscal second quarter of 2025. Total operating expenses on a non-GAAP basis for the fiscal second quarter of 2026 were , or 39.5% of revenue, compared to , or 42.4% of revenue, in the fiscal second quarter of 2025.GAAP net loss in the fiscal second quarter of 2026 was , or () per share, compared to a GAAP net loss of , or () per share, in the prior fiscal year quarter. Excluding stock compensation, a non-cash loss related to debt extinguishment, restructuring charges and other non-recurring costs, non-GAAP adjusted net loss in the fiscal second quarter of 2026 was , or () per share, compared to a non-GAAP adjusted net loss of , or () per share, in the fiscal second quarter of 2025.Non-GAAP adjusted EBITDA in the fiscal second quarter of 2026 was positive , compared to a positive in the fiscal second quarter of 2025.For a reconciliation of GAAP to non-GAAP financial results, please see the financial reconciliation tables below.Liquidity and Debt (as of September 30, 2025)Business OutlookFiscal third quarter 2026 guidance is as follows:This assumes an effective annual tax rate of 3%; non-GAAP adjusted net loss per share assumes an average basic share count of approximately 14 million in the fiscal third quarter of 2026.
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