stocktools
Dilution profile // every instrument, one screen, from SEC filings

QUANTUM CORP /DE/ (QMCO)

CIK 709283 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$259M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
LOWwarrants = 2% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW-59% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
MEDIUM~17.3 months of runway
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-07-312026-08-06

Latest: 39.4M shares as of Aug 6, 2026 (10-Q). Share count fell from 95.8M to 4.8M between Jun 25, 2024 and Aug 13, 2024, a pattern consistent with a reverse split (roughly 1-for-20); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Funded — but tight

~17 months of cash · watch

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Forbearance Warrants2.7M$5.1946.2yFV $30.4M
Conversion Warrants105,911$5.1944.9yFV $1.3M
July2024 Warrants50,000$8.2——
Term Loan Warrantnot tagged$20——
Conversion Warrant Liabilitiesnot taggednot tagged—FV $1.3M

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 11, 2026 →. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 678,000 underlying shares, as reported Dec 31, 2024 (10-Q).

Reported exercise price: $1.33 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $31.7M as of Jun 30, 2026.

Down-round (price protection) accounting has been tagged in this filer’s XBRL: some instrument carries repricing protection. Which tranche requires reading the exhibits.

Rough fully diluted estimate: 40.1M = 39.4M O/S + 678,000 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

NotePrincipalCarryingConv. priceRateIf converted
Convertible Debtnot tagged—$5.19410%—

Notes exactly as the company dimensioned them in its 10-Q filed Aug 11, 2026 →. Principal is face amount as tagged, not what remains after repurchases unless the filer updated the tag. A note the filer did not dimension is absent here, not absent from the balance sheet; the exhibits stay the ground truth.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding39.4MAug 6, 2026
+ Forbearance Warrants (if exercised)2.7MSep 23, 2025
+ Conversion Warrants (if exercised)105,911Jun 1, 2026
+ July2024 Warrants (if exercised)50,000Jul 11, 2024
Fully diluted estimate42.2M+7.1% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $259.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-1Jul 14, 2026$138.6M registeredfiling →
S-1Feb 19, 2026$101.2M registeredfiling →
S-1Nov 17, 2025$19.1M registeredfiling →

Last 12 months: 3 executed · 3 registered.

UPDATEJul 27, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEJul 24, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDJul 14, 2026S-1 registration — capacity to sell shares, not a sale yetS-1 →
EXECUTEDJun 2, 2026Unregistered share sale disclosed (8-K item 3.02)8-K →
UPDATEFeb 24, 2026Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVEFeb 23, 2026SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDFeb 19, 2026S-1 registration — capacity to sell shares, not a sale yetS-1 →
EXECUTEDDec 18, 2025Unregistered share sale disclosed (8-K item 3.02)8-K →
UPDATENov 24, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →
EFFECTIVENov 21, 2025SEC declared a registration effective — selling can beginEFFECT →
REGISTEREDNov 17, 2025S-1 registration — capacity to sell shares, not a sale yetS-1 →
UPDATEOct 1, 2025Prospectus update — often a resale registration, not necessarily new capital424B3 →

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

Keep going: float checker · offering calendar · short-squeeze screener · full QMCO workspace