Quantum Corporation
QMCO Technology Computer Hardware
Quantum Corporation’s revenue for fiscal 2026 (year ended March 2026) was $279.6 million, up 2.02% from fiscal 2025. In the quarter to June 2026, revenue grew 25.7%, EPS fell 277.5%, free cash flow grew 103.1% and total debt rose 17.7%, each against the same quarter a year earlier.
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Quantum Corporation (QMCO) Beneish M-score
Quantum Corporation's Beneish M-score for fiscal 2026 is −4.11; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −4.11 | 1.39 |
| FY2025 | −5.51 | (2.10) |
| FY2024 | −3.41 | (0.86) |
| FY2023 | −2.55 | (1.90) |
| FY2022 | −0.65 | 2.45 |
| FY2021 | −3.10 | (0.82) |
| FY2020 | −2.28 | 1.15 |
| FY2019 | −3.43 | 0.31 |
| FY2018 | −3.74 | (3.00) |
| FY2017 | −0.75 | 3.68 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.30 | — | 1.20 | |
| Gross margin index | 1.09 | — | 0.57 | |
| Asset quality index | 0.84 | — | 0.34 | |
| Sales growth index | 1.02 | — | 0.91 | |
| Depreciation index | 0.88 | — | 0.10 | |
| SG&A index | 0.81 | — | −0.14 | |
| Total accruals to total assets | (0.40) | — | −1.88 | |
| Leverage index | 1.14 | — | −0.37 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −4.11 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| QMCO Quantum Corporation | −4.1× |
| CRCT Cricut, Inc. compare | −3.9× |
| SSYS Stratasys, Ltd. compare | −2.9× |
| CRSR Corsair Gaming, Inc. compare | −2.7× |
| NNDM Nano Dimension Ltd. compare | −1.7× |
| DDD 3D Systems Corporation compare | −1.3× |
| UMAC Unusual Machines, Inc. compare | 11.3× |
| VELO Velo3D, Inc. compare | — |
| QUBT Quantum Computing Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI