Quantum Corporation Plunges After Delayed 10-Q Filing, Nasdaq Compliance Warning

TigerAug 27, 2025 7:48 AM

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Quantum Corporation (Nasdaq: QMCO) saw its stock drop nearly 12% in overnight trading following the announcement of its fiscal year 2025 annual report (Form 10-K) and the delayed filing of its quarterly report (Form 10-Q) for the period ended June 30, 2025.

The company confirmed that its 10-K, filed with the U.S. SEC, includes the results of its review of accounting related to certain revenue contracts and the application of standalone selling prices under applicable accounting standards.

Quantum submitted a Form 12b-25 Notification of Late Filing on August 15, 2025, citing the need for additional time to finalize its quarterly financial statements and allow its independent auditors to complete their review.

Following this, Nasdaq’s Listing Qualifications staff issued a notice on August 21, stating that Quantum is not in compliance with Nasdaq Listing Rule 5250(c)(1) due to the delayed 10-Q filing. The company must either file the 10-Q or submit a plan to regain compliance by September 15, 2025. The notice does not immediately affect the trading of Quantum’s stock, which remains listed on Nasdaq.

Quantum said it is working to finalize its fiscal first quarter 2026 financial results and plans to hold its next earnings call alongside the release of those results.

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