Quantum Corporation (QMCO) postpones June 30, 2025 quarterly 10-Q

Rhea-AI Filing Summary

Quantum Corporation filed a Form 12b-25 to notify that it will not meet the original due date for its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025. The company says it cannot file by August 14, 2025 without unreasonable effort or expense because it needs additional time to finalize its financial statements and for its independent auditor to complete their review, including financial statements in the Annual Report on Form 10-K for the year ended March 31, 2025.

The company highlights uncertainties around its ongoing review procedures, including accounting related to revenue contracts and application of standalone selling price, and notes that these processes could uncover additional information or lead to changes in assumptions. It also cites risks related to legal proceedings and investigations, stock exchange continued listing standards, and its ability to maintain effective internal control over financial reporting.

Positive

• None.

Negative

• Delayed Form 10-Q filing for the quarter ended June 30, 2025 because financial statements and auditor review, including those in the March 31, 2025 Form 10-K, are not yet complete.
• Accounting review focus on revenue contracts and standalone selling price creates uncertainty around the timing and presentation of revenue once the Form 10-Q is filed.
• Highlighted risk factors include potential issues with legal proceedings and investigations, continued stock exchange listing standards, and maintaining effective internal control over financial reporting.

Insights

Equity analyst – disclosure and accounting risk

Late 10-Q tied to revenue accounting review adds disclosure and control risk.

Quantum Corporation is delaying its Form 10-Q for the quarter ended June 30, 2025, saying it cannot file by the original August 14, 2025 deadline without unreasonable effort or expense. The delay stems from extra time needed to finalize financial statements and to allow the independent auditor to complete review work, including for the fiscal year ended March 31, 2025.

The forward-looking discussion flags that ongoing procedures involve accounting for revenue contracts and application of standalone selling price. That kind of review can affect when and how revenue is recorded, so the final outcome may influence reported results once the 10-Q is filed. The company also references risks around legal proceedings and investigations, continued stock exchange listing standards, and the effectiveness of internal control over financial reporting.

This combination makes the notice more than a routine short filing delay. The market impact will depend on whether the review results in changes to prior assumptions or disclosures, and whether any issues tie into listing standards or control weaknesses that the company may describe in the forthcoming Form 10-Q or related filings.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 12b-25

NOTIFICATION OF LATE FILING

(Check one):

o

Form 10-K

o

Form 20-F

o

Form 11-K

☒

Form 10-Q

o

Form 10-D

o

Form N-CEN

o

Form N-CSR

For Period Ended: June 30, 2025

o			Transition Report on Form 10-K
o			Transition Report on Form 20-F
o			Transition Report on Form 11-K
o			Transition Report on Form 10-Q
For the Transition Period Ended:

Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

If the notification relates to a portion of the filing checked above, identify the item(s) to which the notification relates:

PART I -- REGISTRANT INFORMATION

QUANTUM CORPORATION

(Full Name of Registrant)

N/A

(Former Name if Applicable)

10770 E. Briarwood Avenue

(Address of Principal Executive Office (Street and Number))

Centennial, Colorado 80112

(City, State and Zip Code)

PART II -- RULES 12b-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)

						(a)			The reason described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
			☒			(b)			The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-CEN or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
						(c)			The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III -- NARRATIVE

State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-CEN, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.

Quantum Corporation (the “Company”) has determined that it is unable to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the “Form 10-Q”) by August 14, 2025, the original due date for such filing, without unreasonable effort or expense due to the circumstances described below.

The Company’s delay in filing the Form 10-Q is principally due to the additional time required by the Company 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. 

As a result, the Company has been unable to complete its preparation and review of the Form 10-Q in time to file within the prescribed time period without unreasonable effort or expense.

PART IV -- OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this notification

Laura A. Nash			(408)			944-4000
(Name)			(Area Code)			(Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).

Yes o No ☒

Annual Report on Form 10-K for the fiscal year ended March 31, 2025

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof? 

Yes o No ☒

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

Cautionary Note Regarding Forward-Looking Statements:

Forward-Looking Statements: This Form 12b-25 contains “forward-looking” statements within the meaning of federal securities laws. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The Company advises caution in reliance on forward-looking statements. Forward-looking statements include, without limitation: statements related to the ongoing review procedures, including timing and expected outcome; and the Company’s plans, objectives and intentions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking statement, including without limitation: the outcome of the pending review of the Company’s accounting related to its revenue contracts and application of standalone selling price; the discovery of additional and unanticipated information during the procedures required to be completed before the Company is able to file the Form 10-Q; any changes to the assumptions underlying the Company’s closing process and auditors’ review; risks related to legal proceedings and investigations; risks related to the Company’s ability to meet stock exchange continued listing standards; and risks related to the Company’s ability to implement and maintain effective internal control over financial reporting. See also other risks that are described in “Risk Factors” in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K filed with the SEC for the fiscal year ended March 31, 2024, and any subsequent reports filed with the SEC. All forward-looking statements in this Form 12b-25 are based on information available to the Company as of the date of this filing. The Company expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

QUANTUM CORPORATION

(Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:  August 15, 2025			By:			/s/ Laura A. Nash
						Laura A. Nash
						Chief Accounting Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative’s authority to sign on behalf of the registrant shall be filed with the form.

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

FAQ

Why is Quantum Corporation (QMCO) delaying its June 30, 2025 Form 10-Q?

The company states it cannot file the Form 10-Q by the original August 14, 2025 due date without unreasonable effort or expense because it needs more time to finalize its financial statements and for its independent auditor to complete their review, including statements in the March 31, 2025 Form 10-K.

What period does the delayed Quantum Corporation (QMCO) Form 10-Q cover?

The delayed Form 10-Q covers Quantum Corporation’s quarter ended June 30, 2025.

Does Quantum Corporation link the Form 10-Q delay to its 2025 Form 10-K?

Yes. The delay is described as principally due to extra time needed to finalize, and for the auditor to review, financial statements for the annual and quarter periods included in the Annual Report on Form 10-K for the year ended March 31, 2025.

What accounting areas does Quantum Corporation say are under review?

The company notes risks related to the outcome of a review of its accounting for revenue contracts and the application of standalone selling price as part of its ongoing procedures.

What additional risks does Quantum Corporation (QMCO) highlight in this notice?

The company cites risks that new information may be discovered before it can file the Form 10-Q, as well as risks tied to legal proceedings and investigations, its ability to meet stock exchange continued listing standards, and its ability to implement and maintain effective internal control over financial reporting.

Has Quantum Corporation indicated when it expects to file the delayed Form 10-Q?

The notice is filed on Form 12b-25, which allows the company to seek a brief extension, and it discusses ongoing review procedures and their timing, but it does not provide a specific new filing date beyond that framework.