Quantum Corp's Q1 revenue rises on storage solutions demand, flags supply constraints
QMCO•Outlook
- Quantum sees Q2 revenue of $82 mln, plus or minus $2 mln
- Company expects Q2 non-GAAP adjusted net income per share of $0.12, plus or minus $0.10
- Quantum says supply constraints continue to limit ability to fully meet demand
Overview
- Data management solutions provider's fiscal Q1 revenue grew 26% yr/yr, first non-GAAP profit since 2023
- GAAP net loss widened due to one-time charges from debt elimination
- Company eliminated all outstanding debt, improving cash position
Result drivers
- Strong demand - Company said record backlog and robust demand for tiered storage solutions drove revenue growth
- Cost reduction - Company reported year-over-year reduction in operating expenses, supporting improved non-GAAP profitability
- Supply constraints - Company said supply constraints limited ability to fully meet demand
Key details and analyst coverage
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