Quantum Corporation Files Form 12b-25 Notification of Late Filing

Key Terms

form 12b-25 regulatory

Form 12b-25 is a notice a publicly traded company files with the U.S. Securities and Exchange Commission when it cannot deliver a required periodic report (like a quarterly or annual financial report) on time. It explains the reason for the delay and gives the company a short, temporary window to finish the report without being marked as delinquent; investors watch it because late filings can signal accounting, operational, or control issues that may affect a company’s reliability and stock risk, much like a missed homework deadline can raise concerns about a student’s preparedness.

notification of late filing regulatory

A notification of late filing is a formal public statement that a company failed to submit a required regulatory report (for example, quarterly or annual financial statements) by the deadline. It matters to investors because missed filings can signal accounting, operational, or governance problems, may lead to fines or trading restrictions, and increases uncertainty about the company's transparency—like a public “we missed the deadline” flag that raises risk for shareholders.

form 10-k regulatory

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

securities and exchange commission regulatory

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

rule 12b-25 regulatory

Rule 12b-25 is an SEC filing provision that lets a company notify regulators and the public that it cannot file a required periodic report (like a quarterly or annual report) on time and explains the reason for the delay. For investors, the notice is a formal heads-up that financial information will arrive late—similar to a company calling to say it will be late turning in homework—so it signals increased uncertainty and may affect trading and risk assessments until the filing is available.

independent registered public accounting firm financial

An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.

accelerated filer regulatory

An accelerated filer is a public company that meets regulatory size and reporting history thresholds and therefore must meet faster deadlines and stricter disclosure rules for periodic financial reports. For investors, that means financial statements arrive sooner and the company faces higher oversight and expectations for timely, accurate reporting—think of it as being placed in a faster highway lane that also has tighter traffic rules, which can reduce information lag and signal greater regulatory scrutiny.

internal control over financial reporting financial

Internal control over financial reporting is a company’s system of procedures and checks designed to make sure its financial statements are accurate and complete, like a set of guardrails and verification steps that catch mistakes or fraud before numbers are published. Investors care because strong controls make reported results more trustworthy, lower the risk of surprise restatements or regulatory problems, and give greater confidence when valuing the company or comparing it to peers.

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CENTENNIAL, Colo.--(BUSINESS WIRE)-- Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company") today announced that it has filed a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission with respect to its Annual Report on Form 10-K for the fiscal year ended March 31, 2026 ("Fiscal 2026"). The Company intends to file its Annual Report on Form 10-K as soon as practicable, and in any event on or before June 29, 2026, the fifteenth calendar day following the original due date, as provided under Rule 12b-25.

In June 2026, the Company completed a series of transactions that significantly strengthened its balance sheet. The preparation, execution, and financial reporting for these transactions, which were completed on June 4, 2026, required substantial and sustained focus from the Company's senior management in the period leading up to the original filing deadline. As a result, the Company is working with its independent registered public accounting firm to complete the audit of its financial statements and related procedures and requires additional time to do so.

Fiscal 2026 is also the first year in which the Company's financial statements have been audited by its current independent registered public accounting firm, which has involved additional first-year audit procedures.

In addition, the Company became an accelerated filer beginning with its Fiscal 2026 Form 10-K, which subjects the Company to an earlier filing deadline than in the prior two fiscal years and, in connection with the change in filer status, to additional procedures relating to management's assessment of, and its independent auditors' attestation report on, the Company's internal control over financial reporting.

The Company does not currently expect the delay to affect its previously announced preliminary unaudited financial results for the fourth quarter of Fiscal 2026 or its financial statements for any prior fiscal period.

The Company will reschedule its earnings release and conference call for the fiscal fourth quarter and full year 2026, previously scheduled for June 15, 2026, and will announce the new date and time once the filing date of its Form 10-K is confirmed.

About Quantum

Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, our data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset - their data. For more information visit www.quantum.com.

Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

Forward-Looking Information

The information provided in this press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are largely based on our current expectations and projections about future events and financial trends affecting our business. Such forward-looking statements include, in particular, statements related to the ongoing audit procedures, including timing and expected outcome; statements regarding the cause of the delay in filing the Form 10-K; the expectation that the Company will file the Form 10-K within the Rule 12b-25 extension period; the Company’s belief that the delay will not affect its previously announced preliminary unaudited financial results for its fiscal fourth quarter of Fiscal 2026, or its financial statements for any prior fiscal periods; and the Company’s plans, objectives and intentions.

These forward-looking statements may be identified by the use of terms and phrases such as “anticipates”, “believes”, “can”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “may”, “plans”, “projects”, “targets”, “will”, and similar expressions or variations of these terms and similar phrases. Additionally, statements concerning future matters and other statements regarding matters that are not historical are forward-looking statements. Investors are cautioned that these forward-looking statements relate to future events or our future performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements.

These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected, including without limitation, the following: the risks related to the completion of the Company’s annual financial close process and the independent auditors’ review and audit of the Company’s financial statements for Fiscal 2026; the discovery of additional and unanticipated information during the procedures required to be completed before the Company is able to file the Form 10-K; the completion of the Company’s Fiscal 2026 audit and any adjustments resulting therefrom; any changes to the assumptions underlying the Company’s closing process and auditors’ audit; risks related to legal proceedings and investigations; risks related to the Company’s ability to implement and maintain effective internal control over financial reporting; and other risks that are described herein, including but not limited to the items discussed in “Risk Factors” in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K filed with the SEC for the fiscal year ended March 31, 2025, and any subsequent reports filed with the SEC. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260614692505/en/

Investor Relations Contacts:
Shelton Group
Leanne K. Sievers | Brett L. Perry
E: sheltonir@sheltongroup.com

Source: Quantum Corporation