Seagate said it has successfully completed qualification testing for its HAMR-based Mozaic drives with several customers in the Mass Capacity markets, including a leading cloud service provider.

1. 01

   Seagate said it has successfully completed qualification testing for its HAMR-based Mozaic drives with several customers in the Mass Capacity markets, including a leading cloud service provider.

2. 02

   The company said it expects to begin shipping initial HAMR product volume to that cloud customer in the coming weeks.

3. 03

   Seagate said the process of bringing existing production equipment back online has taken longer than expected, and production output for the fiscal Q3 quarter ending March 28, 2025 will be lower than previously expected. The company said the resulting revenue impact for the quarter is up to $200 million.

4. 04

   Seagate said revenue and profitability for the fiscal Q2 quarter ending December 27, 2024 are currently trending in line with management's expectations and are not affected by the change in production output.

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