Why Quantum Corp. Stock Plunged In Today's After-Hours

Shares of micro-cap Quantum Corp. (QMCO) declined sharply in the after-hours session on Wednesday following its disappointing quarterly results.

Quantum stock ended the after-hours session down 15.40% but has since then trimmed some of the losses in overnight trading.

Retail users of Stocktwits have shrugged off the stock drop and remained 'extremely bullish' (92/100) as of late Wednesday, and the message volume improved to 'extremely high.' The 24-hour message volume change leading up to late Wednesday was over 500%.

Quantum, a data management platform company, reported an adjusted loss per share of $1.58 for the first quarter of fiscal year 2026, slightly narrower than the $1.59 loss reported for the year-ago quarter.

Revenue fell to $64.3 million from $72.3 million reported for the year-ago quarter. Analysts, on average, expected a loss per share of $0.43 and revenue of $70.7 million for the quarter, according to Fiscal.

The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) widened to a negative $6.5 million from a negative $2.2 million last year. The company's cash position improved to $37.5 million at the end of the quarter from $16.6 million at the end of the March quarter.

Looking forward, Quantum guided to second-quarter revenue of $61 million, plus or minus $2 million, below the analysts' consensus of $72.35 million. The company's adjusted loss per share guidance is $0.26, plus or minus $0.10, compared to the analysts' $0.40 loss per share estimate. It aims to achieve breakeven EBITDA for the quarter.

Hugues Meyrath, who assumed the CEO role at the company in June, said,“Leveraging extensive industry experience and my familiarity of the Company as a board member, the Company has implemented immediate and ongoing actions aimed at further improving the cost structure and balance sheet.”

“Despite the disappointing performance in [the] fiscal first quarter, we are encouraged by positive developments and renewed business prospects following the refresh of our leadership team. We expect our decisive actions to result in noticeably improved bottom-line performance beginning in the September quarter.”

Quantum stock is down about 85% this year.

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