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Quantum | 10-Q: Q2 2024 Earnings Report

Quantum | 10-Q: Q2 2024 Earnings Report

昆腾 | 10-Q:2024财年二季报
美股SEC公告 ·  2024/09/07 01:04

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Quantum Corporation reported Q3 FY2024 financial results with revenue of $71.9 million, down 37% from $113.5 million in Q3 FY2023. Product revenue declined 52% to $37.1 million, while service and subscription revenue remained relatively stable at $32.8 million. The company recorded a net loss of $9.9 million compared to net income of $0.1 million in the prior year quarter.The decline was primarily driven by lower demand from large hyperscale customers and weakness in the linear-tape open media market. Gross margin improved to 40.6% from 37.5% year-over-year, benefiting from a more favorable product mix and operational efficiencies. Operating expenses decreased 8% to $35.4 million through cost reduction initiatives across sales, marketing and R&D functions.The company ended the quarter with $24.4 million in cash and cash equivalents. Total debt stood at $119.3 million, including $87.3 million in term loans and $32.0 million drawn on its credit facility. Management noted continued challenges from longer sales cycles with enterprise customers amid the uncertain macroeconomic environment.
Quantum Corporation reported Q3 FY2024 financial results with revenue of $71.9 million, down 37% from $113.5 million in Q3 FY2023. Product revenue declined 52% to $37.1 million, while service and subscription revenue remained relatively stable at $32.8 million. The company recorded a net loss of $9.9 million compared to net income of $0.1 million in the prior year quarter.The decline was primarily driven by lower demand from large hyperscale customers and weakness in the linear-tape open media market. Gross margin improved to 40.6% from 37.5% year-over-year, benefiting from a more favorable product mix and operational efficiencies. Operating expenses decreased 8% to $35.4 million through cost reduction initiatives across sales, marketing and R&D functions.The company ended the quarter with $24.4 million in cash and cash equivalents. Total debt stood at $119.3 million, including $87.3 million in term loans and $32.0 million drawn on its credit facility. Management noted continued challenges from longer sales cycles with enterprise customers amid the uncertain macroeconomic environment.
量子公司报告了2024财年第三季度的财务业绩,营业收入为7190万元,同比2023财年第三季度的11350万元下降了37%。产品营业收入下降了52%,至3710万元,而服务和订阅营业收入保持相对稳定,为3280万元。公司记录了990万元的净亏损,而去年同期则实现了10万元的净利润。下降主要是由于大型超大规模客户的需求降低,以及线性磁带开放媒体市场的疲软。毛利率从去年的37.5%上升至40.6%,受益于更有利的产品组合和运营效率的提高。营业费用通过在销售、营销和研发部门的成本削减措施减少了8%,降至3540万元。公司在季度末的现金及现金等价物为2440万元。总债务为11930万元,其中包括8730万元的定期贷款和在信用额度上提取的3200万元。管理层指出,在不确定的宏观经济环境下,企业客户的销售周期延长带来了持续的挑战。
量子公司报告了2024财年第三季度的财务业绩,营业收入为7190万元,同比2023财年第三季度的11350万元下降了37%。产品营业收入下降了52%,至3710万元,而服务和订阅营业收入保持相对稳定,为3280万元。公司记录了990万元的净亏损,而去年同期则实现了10万元的净利润。下降主要是由于大型超大规模客户的需求降低,以及线性磁带开放媒体市场的疲软。毛利率从去年的37.5%上升至40.6%,受益于更有利的产品组合和运营效率的提高。营业费用通过在销售、营销和研发部门的成本削减措施减少了8%,降至3540万元。公司在季度末的现金及现金等价物为2440万元。总债务为11930万元,其中包括8730万元的定期贷款和在信用额度上提取的3200万元。管理层指出,在不确定的宏观经济环境下,企业客户的销售周期延长带来了持续的挑战。
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