QMCONasdaqComputer Storage DevicesUS GAAP · USD

Quantum Corporation

Quantum Corp is a U.S.-based storage technology company that designs, manufactures, and sells primary storage, secondary storage, and data management solutions. Its products include object storage systems, tape storage systems, backup appliances, and related software and services sold globally through direct, OEM, distributor, and reseller channels.

Revenue280m USD
+2.0 %y/y
Operating profit (EBIT)-24.5m USD
+41.2 %y/y
EBIT margin-8.8%
+6.4 ppy/y
Net income-101m USD
+12.2 %y/y
Free cash flow-39.6m USD
−38.5 %y/y

Fiscal year 2026 · change from previous year

Development 2021–2026

-1000100200300400500m USD2021: 350 m USD2021: EBIT 8.4 m USD20212022: 383 m USD2022: EBIT -3.2 m USD20222023: 413 m USD2023: EBIT -17 m USD20232024: 312 m USD2024: EBIT -29 m USD20242025: 274 m USD2025: EBIT -42 m USD20252026: 280 m USD2026: EBIT -25 m USD2026280-25
RevenueOperating profit (EBIT)

Business

Share of revenue
Primary storage systems30 %

Appliance-based storage systems used for core enterprise and video workloads.

Secondary storage and backup25 %

Disk-based backup and recovery products for data protection and retention.

Tape storage systems and media20 %

Tape libraries, drives, and media used for archival and long-term storage.

Software and data management15 %

Storage software, management tools, and related licensing revenue.

Services, support, and subscriptions10 %

Maintenance, support renewals, subscriptions, and related services.

Products

Reported · share of revenue
36.1%30.8%15.8%14.5%FY2026100 %
  • Secondary Storage Systems36.1 %
  • Services30.8 %
  • Primary Storage Systems15.8 %
  • Deviceand Media14.5 %
  • Royalty2.9 %

Source: 10-K FY2026, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.

Customers

Quantum sells to organizations that need to store, protect, and manage large volumes of unstructured data, including hyperscale, technology, industrial, media and entertainment, federal government, life sciences and healthcare, and financial customers. It also reaches end users through OEMs, distributors, value-added resellers, and direct market resellers, which broadens its market access across regions and verticals.

Hyperscale and technology

Buy storage systems for large-scale data environments and cloud-adjacent workloads.

Media and entertainment

Buy high-capacity storage for video, content creation, and media workflows.

Federal government

Buy secure storage and archival solutions for mission-critical data retention.

Industrial and enterprise

Buy backup, archive, and primary storage for operational data and analytics.

OEMs and channel partners

Resell Quantum products under their own brands or through distribution.

Strategy

Quantum's strategy centers on product innovation in storage systems and data management software, with emphasis on easier scale management, searchability, software-defined hyperconverged storage, and next-generation SSD/HDD software. It also relies on channel expansion and OEM relationships to reach end users and selected vertical or geographic markets where partners have strength.

Product innovation in storage software and systemsMedium term

The market changes quickly, so product features and manageability drive competitiveness.

Channel and OEM expansionShort term

Indirect sales extend reach without requiring direct coverage in every market.

Tape and archival leadershipLong term

Tape remains important for long-term retention and lower-cost archival use cases.

Geography

Quantum operates globally, with sales to customers across multiple industries and regions. Its supply chain and manufacturing footprint spans the U.S. and Mexico, with third-party logistics support in EMEA and APAC, while tape media is manufactured in Japan and distributed worldwide.

Risks

Quantum faces supply-chain dependence, channel concentration, and intense competition from larger storage vendors and public cloud alternatives. Its business is also exposed to global manufacturing and trade risks, product qualification timing, and customer acceptance of new products, all of which can affect shipments, revenue timing, and warranty costs.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Competition from larger storage vendors and cloud providers1Supply disruptions and component shortages2Channel partner dependence3Global trade and geopolitical exposure5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Competition from larger storage vendors and cloud providersImpact: HighLikelihood: High

    Competitors may have greater resources and cloud services can substitute for some storage use cases.

    Exposure: Pricing pressure and share loss in primary and secondary storage

  2. Supply disruptions and component shortagesImpact: HighLikelihood: Medium

    The company relies on outsourced manufacturing and single-source components in some cases.

    ExposureManufacturing and shipment delaysHigher costsCanceled orders
  3. Channel partner dependenceImpact: HighLikelihood: Medium

    A large share of branded sales flows through distributors, VARs, and DMRs.

    Exposure: Loss of reseller support or weaker promotion of Quantum products

  4. Customer qualification and product acceptanceImpact: High

    Revenue depends on timely qualification and ramping with key customers.

    ExposureDelayed launchesLower sales conversionWarrantyRepair costs
  5. Global trade and geopolitical exposureImpact: MediumLikelihood: Medium

    Manufacturing, logistics, and sales span multiple countries including China, Mexico, Japan, and others.

    ExposureTariffsTrade restrictionsLogistics disruptionCompliance risk

Accounting

Judgemental items
Revenue recognition

Revenue comes from product sales, services, subscriptions, and royalties with different timing patterns.

Impact: Quarterly mix and timing can change reported revenue and margins

Royalty revenue

Royalties depend on third-party licensing volume and LTO mix.

Impact: Can fluctuate with market demand and royalty-rate mix

Warrant liability fair value

Changes in fair value can create large non-cash gains or losses.

Impact: Can materially swing net income period to period

Restructuring accruals

Workforce reductions and severance charges require judgment on timing and amount.

Impact: Affects operating expenses and future cost structure

Warranty and inventory reserves

Hardware businesses must estimate repair costs and obsolescence.

Impact: Affects gross margin and balance sheet carrying values

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026