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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 Q2 FY2024 revenue of $75.7 million, down 25% from $100.6 million in Q2 FY2023. Product revenue declined 33% to $42.9 million, while service and subscription revenue decreased 7% to $30.5 million. Despite lower revenue, gross margin improved significantly to 43.3% from 29.1% year-over-year, driven by a more favorable product mix and operational efficiencies.The company continued its cost optimization efforts, reducing operating expenses by 7% to $36.4 million compared to the prior year. Research and development expenses decreased 13% to $9.2 million, while general and administrative costs fell 14% to $10.2 million. The restructuring charges increased to $1.3 million as part of ongoing cost reduction initiatives.Looking at the balance sheet, Quantum ended the quarter with $25.6 million in cash and cash equivalents. The company faces some near-term challenges with its debt covenants and has classified its Term Loan and PNC Credit Facility as current liabilities due to expected covenant violation. Management continues to work on operational improvements while navigating the uncertain macro environment and longer sales cycles with enterprise customers.
Quantum Corporation reported Q2 FY2024 revenue of $75.7 million, down 25% from $100.6 million in Q2 FY2023. Product revenue declined 33% to $42.9 million, while service and subscription revenue decreased 7% to $30.5 million. Despite lower revenue, gross margin improved significantly to 43.3% from 29.1% year-over-year, driven by a more favorable product mix and operational efficiencies.The company continued its cost optimization efforts, reducing operating expenses by 7% to $36.4 million compared to the prior year. Research and development expenses decreased 13% to $9.2 million, while general and administrative costs fell 14% to $10.2 million. The restructuring charges increased to $1.3 million as part of ongoing cost reduction initiatives.Looking at the balance sheet, Quantum ended the quarter with $25.6 million in cash and cash equivalents. The company faces some near-term challenges with its debt covenants and has classified its Term Loan and PNC Credit Facility as current liabilities due to expected covenant violation. Management continues to work on operational improvements while navigating the uncertain macro environment and longer sales cycles with enterprise customers.
量子公司报告2024财年第二季度营业收入为7570万，同比2023财年第二季度的10060万下降25%。产品收入下降33%，为4290万，而服务和订阅收入减少7%，为3050万。尽管收入减少，但毛利率显著提高，从去年同期的29.1%上升到43.3%，这是由于产品组合更为有利和运营效率的提升。公司继续进行成本优化工作，营业费用减少7%，为3640万， compared to 去年。研发费用减少13%，为920万，而一般和管理费用下降14%，为1020万。重组费用随着持续的成本削减措施增加至130万。从资产负债表来看，量子在本季度结束时的现金及现金等价物为2560万。由于预期的债务契约违规，公司面临一些短期挑战，并将其定期贷款和PNC信用额度归类为流动负债。管理层继续在应对不确定的宏观环境和与企业客户的较长销售周期的同时，努力进行运营改进。
量子公司报告2024财年第二季度营业收入为7570万，同比2023财年第二季度的10060万下降25%。产品收入下降33%，为4290万，而服务和订阅收入减少7%，为3050万。尽管收入减少，但毛利率显著提高，从去年同期的29.1%上升到43.3%，这是由于产品组合更为有利和运营效率的提升。公司继续进行成本优化工作，营业费用减少7%，为3640万， compared to 去年。研发费用减少13%，为920万，而一般和管理费用下降14%，为1020万。重组费用随着持续的成本削减措施增加至130万。从资产负债表来看，量子在本季度结束时的现金及现金等价物为2560万。由于预期的债务契约违规，公司面临一些短期挑战，并将其定期贷款和PNC信用额度归类为流动负债。管理层继续在应对不确定的宏观环境和与企业客户的较长销售周期的同时，努力进行运营改进。
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