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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 ·  09/07 01:04

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Quantum Corporation reported financial results for its second quarter of fiscal year 2024 ended September 30, 2023. Total revenue decreased 25% year-over-year to $75.7 million, primarily due to lower demand from hyperscale customers and declines in the linear-tape open media market. Product revenue fell 33% to $42.9 million, while service and subscription revenue dropped 7% to $30.5 million.Despite lower revenue, gross profit increased to $32.7 million from $29.3 million in Q2 FY2023, with gross margin improving to 43.3% from 29.1%. This was driven by a more favorable product mix and operational efficiencies. Operating expenses decreased 7% to $36.4 million, reflecting cost reduction initiatives across the business.The company reported a net loss of $3.3 million, compared to a $7.4 million loss in the same quarter last year. Quantum noted ongoing macroeconomic challenges, including longer sales cycles with enterprise and commercial customers. The company has also entered into several debt amendments since September 2023 to address financial covenant compliance and support business initiatives.
Quantum Corporation reported financial results for its second quarter of fiscal year 2024 ended September 30, 2023. Total revenue decreased 25% year-over-year to $75.7 million, primarily due to lower demand from hyperscale customers and declines in the linear-tape open media market. Product revenue fell 33% to $42.9 million, while service and subscription revenue dropped 7% to $30.5 million.Despite lower revenue, gross profit increased to $32.7 million from $29.3 million in Q2 FY2023, with gross margin improving to 43.3% from 29.1%. This was driven by a more favorable product mix and operational efficiencies. Operating expenses decreased 7% to $36.4 million, reflecting cost reduction initiatives across the business.The company reported a net loss of $3.3 million, compared to a $7.4 million loss in the same quarter last year. Quantum noted ongoing macroeconomic challenges, including longer sales cycles with enterprise and commercial customers. The company has also entered into several debt amendments since September 2023 to address financial covenant compliance and support business initiatives.
量子公司报告了截至2023年9月30日的2024财年第二季度财务结果。总营业收入同比下降25%，为7570万美金，主要由于超大规模客户需求减少和线性带开放媒体市场的下滑。产品营业收入下降33%，为4290万美金，而服务和订阅营业收入下降7%，为3050万美金。尽管营业收入减少，毛利润从2023财年第二季度的2930万美金增加到3270万美金，毛利率从29.1%提高到43.3%。这得益于更有利的产品组合和运营效率的提高。营业费用下降7%，为3640万美金，反映出公司在各项业务中的成本削减举措。公司报告净亏损330万美金，而去年同期亏损为740万美金。量子公司注意到持续的宏观经济挑战，包括与企业和商业客户更长的销售周期。自2023年9月以来，公司还进行了几项债务修正，以应对财务契约合规并支持业务倡议。
量子公司报告了截至2023年9月30日的2024财年第二季度财务结果。总营业收入同比下降25%，为7570万美金，主要由于超大规模客户需求减少和线性带开放媒体市场的下滑。产品营业收入下降33%，为4290万美金，而服务和订阅营业收入下降7%，为3050万美金。尽管营业收入减少，毛利润从2023财年第二季度的2930万美金增加到3270万美金，毛利率从29.1%提高到43.3%。这得益于更有利的产品组合和运营效率的提高。营业费用下降7%，为3640万美金，反映出公司在各项业务中的成本削减举措。公司报告净亏损330万美金，而去年同期亏损为740万美金。量子公司注意到持续的宏观经济挑战，包括与企业和商业客户更长的销售周期。自2023年9月以来，公司还进行了几项债务修正，以应对财务契约合规并支持业务倡议。
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