Quantum Corporation (NASDAQ:QMCO) reported its preliminary Q4 results, expecting revenue to range from $92 million to $94 million, which is a tighter range with a higher midpoint from the company’s initial guidance of $87-97 million. The consensus estimate is $91.5 million. The company didn’t provide any other financial metrics.

The preliminary results reflect a modest decline from Q3 sales of $95.3 million and are roughly in line with Q2 sales of $93.2 million, suggesting current supply chain conditions can support this general level.

Analysts at Oppenheimer provided their views on the company, stating that there is no change to their thesis and Perform rating. Long term, the analysts are comfortable with the company’s direction and execution, seeing signs in recent results of use case expansion/vertical diversification, and exposure to multiple growth levers. Nearer term, the analysts continue to watch for clearer visibility into the timing of supply chain improvement. The company expects to report its complete Q4 results in early June.