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Quantum Corporation (NASDAQ:QMCO) today announced the filing of its Annual Report on Form 10-K for the fiscal year ended March 31, 2025, with the U.S. Securities and Exchange Commission (the "SEC"). As previously indicated, the Annual Report includes the results of the review of the Company's accounting related to certain revenue contracts, as well as the application of standalone selling price under applicable accounting standards.
The Company also announced that it filed a Form 12b-25 Notification of Late Filing on August 15, 2025 because it was 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. The extension is necessary to allow for 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.
The Company subsequently received a notice (the "Notice") from the Listing Qualifications staff of the Nasdaq Stock Market LLC ("Nasdaq") on August 21, 2025 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's delay in filing the Form 10-Q. The Company must file the Form 10-Q or submit a plan to Nasdaq to regain compliance on or before September 15, 2025 in accordance with the Nasdaq Listing Rules. 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.
The Company is working diligently to finalize its fiscal first quarter 2026 financial statements and intends to file its Form 10-Q as soon as practicable. The Company expects to host its next conference call in conjunction with the reporting of its fiscal first quarter 2026 financial results.
The Annual Report on Form 10-K can be accessed on the SEC's website at www.sec.gov and in the investor relations section of the Company's website at investors.quantum.com.
Posted In: QMCO
