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Quantum | 10-K: FY2024 Annual Report

Quantum | 10-K: FY2024 Annual Report

昆腾 | 10-K：2024财年年报
美股SEC公告 ·  2024/06/28 16:42

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Quantum Corporation reported fiscal year 2024 revenue of $311.6 million, down 26% from $422.1 million in FY2023, primarily due to reduced demand from hyperscale customers and declines in the tape market. Product revenue decreased 36% to $174.9 million, while service and subscription revenue fell 5% to $126.6 million. Gross margin improved to 40.1% from 33.9% in the prior year.The company reduced operating expenses by 4% to $153.8 million through cost control measures and improved organizational efficiency. However, Quantum recorded a net loss of $41.3 million compared to a net loss of $18.4 million in FY2023, impacted by higher interest expenses of $15.1 million and other charges. Cash and equivalents stood at $25.7 million as of March 31, 2024.Management disclosed material weaknesses in internal controls related to revenue recognition and warrant accounting, leading to financial restatements. The company is implementing remediation plans while facing covenant compliance challenges with its credit facilities. Quantum is pursuing additional covenant waivers or refinancing options to address near-term debt obligations.
Quantum Corporation reported fiscal year 2024 revenue of $311.6 million, down 26% from $422.1 million in FY2023, primarily due to reduced demand from hyperscale customers and declines in the tape market. Product revenue decreased 36% to $174.9 million, while service and subscription revenue fell 5% to $126.6 million. Gross margin improved to 40.1% from 33.9% in the prior year.The company reduced operating expenses by 4% to $153.8 million through cost control measures and improved organizational efficiency. However, Quantum recorded a net loss of $41.3 million compared to a net loss of $18.4 million in FY2023, impacted by higher interest expenses of $15.1 million and other charges. Cash and equivalents stood at $25.7 million as of March 31, 2024.Management disclosed material weaknesses in internal controls related to revenue recognition and warrant accounting, leading to financial restatements. The company is implementing remediation plans while facing covenant compliance challenges with its credit facilities. Quantum is pursuing additional covenant waivers or refinancing options to address near-term debt obligations.
量子公司公布了截至2024年3月31日的财政年度财务结果。总营业收入同比减少26%，为31160万美元，产品收入下降36%，为17490万美元。公司报告净亏损为4130万美元，而2023财年亏损为1840万美元。毛利率从去年的33.9%提高至40.1%。管理层将营业收入的下降主要归因于大型超大规模客户的需求下降和磁带存储市场的疲软。公司实施了成本削减措施，营业费用减少了4%，降至15380万美元。利息费用因债务余额增加和利率上升而增加了43%，达1510万美元。量子公司年末现金余额为2570万美元，定期贷款债务为8790万美元。公司预计在2025财年第一季度将违反净杠杆契约，并正在寻求豁免或再融资的期权。管理层还在评估获取额外资金的策略，包括潜在的资产出售，以改善在持续财务挑战中的流动性。
量子公司公布了截至2024年3月31日的财政年度财务结果。总营业收入同比减少26%，为31160万美元，产品收入下降36%，为17490万美元。公司报告净亏损为4130万美元，而2023财年亏损为1840万美元。毛利率从去年的33.9%提高至40.1%。管理层将营业收入的下降主要归因于大型超大规模客户的需求下降和磁带存储市场的疲软。公司实施了成本削减措施，营业费用减少了4%，降至15380万美元。利息费用因债务余额增加和利率上升而增加了43%，达1510万美元。量子公司年末现金余额为2570万美元，定期贷款债务为8790万美元。公司预计在2025财年第一季度将违反净杠杆契约，并正在寻求豁免或再融资的期权。管理层还在评估获取额外资金的策略，包括潜在的资产出售，以改善在持续财务挑战中的流动性。
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