QMCO: Nasdaq cites late Quarterly Report; company files Form 12b-25

Rhea-AI Filing Summary

Quantum Corporation disclosed that on August 21, 2025 it received a notice from the Nasdaq Listing Qualifications staff stating the company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it did not timely file its Quarterly Report for the fiscal quarter ended June 30, 2025. The company previously filed a Form 12b-25 on August 15, 2025 saying the delay stems from additional time needed to finalize financial statements and for its independent auditors to complete their review, including annual and quarterly periods in the Annual Report for the year ended March 31, 2025. Quantum says it is working to complete the review and file the Quarterly Report within Nasdaq's prescribed timeline. The Nasdaq notice does not have an immediate effect on the listing; the stock will continue to trade while the company addresses the filing requirement.

Positive

• Trading continues on Nasdaq despite the notice, so market access remains intact
• Company filed Form 12b-25 and communicated the delay, indicating ongoing engagement with auditors

Negative

• Noncompliance with Nasdaq Listing Rule 5250(c)(1) due to a late Quarterly Report for the period ended June 30, 2025
• Delay involves audited financial statements and independent auditor review, which can indicate complex accounting issues or extended audit procedures

Insights

Corporate Compliance Analyst

Late 10-Q triggers Nasdaq notice but trading continues while remediation proceeds.

The company received a compliance notice under Nasdaq Rule 5250(c)(1) for failing to file the Quarterly Report for the period ended June 30, 2025. Quantum filed Form 12b-25 on August 15, 2025 citing additional time needed for finalizing audited financial statements and the external review.

Key dependencies are the completion of the independent registered public accounting firm's review and the timing of the filing; failure to cure within Nasdaq's timeline could lead to further delisting procedures. Monitor the company's subsequent filings and any Nasdaq correspondence within the typical cure period.

Investor Relations Specialist

Disclosure is a short-term operational/compliance issue that may affect investor confidence.

The notice is procedural: Nasdaq confirmed noncompliance but did not suspend trading, so liquidity and market access remain intact for now. The company issued a press release on August 26, 2025 announcing receipt of the notice and incorporated that release by exhibit.

Investors should watch for the filed Quarterly Report and any auditor communications over the next few weeks; timely filing will resolve the immediate compliance concern.

0000709283FALSE00007092832025-08-262025-08-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 21, 2025

Quantum Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-13449

94-2665054

(State or other jurisdiction of incorporation or organization)

(Commission File No.)

(I.R.S. Employer Identification No.)

10770 E. Briarwood Avenue

Centennial,

CO

80112

(Address of Principal Executive Offices)

(Zip Code)

(408)			944-4000
Registrant's telephone number, including area code

N/A

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, $0.01 par value per share

QMCO

Nasdaq Global Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On August 21, 2025, Quantum Corporation (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications staff of the Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company’s failure to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2025 (the “Quarterly Report”) with the Securities and Exchange Commission (the “SEC”).

On August 15, 2025, the Company filed a Notification of Late Filing on Form 12b-25 with the SEC indicating that the Quarterly Report would be delayed due to additional time being needed to finalize, and for its independent registered public accounting firm to complete their review of, the Company’s financial statements, including financial statements for the annual and quarter periods included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2025.

The Company is working diligently to complete its review and file the Quarterly Report within the timeline prescribed by Nasdaq.

The Notice has no immediate impact on the listing of the Company’s common stock, which will continue to trade on Nasdaq, subject to the Company’s compliance with other continued listing requirements of Nasdaq.

Item 8.01 Other Items.

On August 26, 2025, the Company issued a press release announcing its receipt of the Notice. The press release is attached hereto as Exhibit 99.1 hereto and is hereby incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.						Description
99.1						Press release dated August 26, 2025.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Quantum Corporation

(Registrant)

August 26, 2025

/s/ Laura A. Nash

(Date)

Laura A. Nash

Chief Accounting Officer

FAQ

What did Quantum (QMCO) disclose about the Nasdaq notice?

Quantum disclosed that on August 21, 2025 it received a Nasdaq notice for noncompliance with Rule 5250(c)(1) because it did not timely file its Quarterly Report for the period ended June 30, 2025.

Will Quantum's stock stop trading after the Nasdaq notice?

No. The notice has no immediate impact on the listing and the company's common stock will continue to trade on Nasdaq while the company works to regain compliance.

Why is the Quarterly Report delayed for QMCO?

The company filed Form 12b-25 on August 15, 2025 stating the delay is because additional time is needed to finalize financial statements and for the independent registered public accounting firm to complete its review, including periods in the Annual Report for the year ended March 31, 2025.

Did Quantum issue any public statement about the Nasdaq notice?

Yes. Quantum issued a press release on August 26, 2025 announcing receipt of the Nasdaq notice; that release is included as Exhibit 99.1.

What should investors monitor next for QMCO?

Investors should monitor the filing of the delayed Quarterly Report and any further Nasdaq correspondence or updates on the auditor's review timeline.