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Quantum Corp - QMCO STOCK NEWS

Welcome to our dedicated news page for Quantum (Ticker: QMCO), a resource for investors and traders seeking the latest updates and insights on Quantum.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Quantum's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Quantum's position in the market.

Rhea-AI Summary
Quantum (NASDAQ: QMCO) announces DXi T-Series all-flash backup appliances to enhance data protection processes for organizations facing cyberattacks and data risks. The new solution aims to improve data preparedness, protection, and recovery, especially for data-intensive workflows like AI. The DXi T-Series provides efficient protection and recovery capabilities, with ingest rates up to 113 terabytes per hour, significantly faster than competitor solutions. The appliances offer up to 70 times more efficient use of flash resources and are designed for edge deployments, SMBs, and mission-critical data storage infrastructure.
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Quantum (Nasdaq: QMCO) provided updates on its business, including fiscal fourth quarter 2024 liquidity, debt reduction, ERP system implementation, Nasdaq listing status, and board of directors transition. Cash and cash equivalents were $26.1 million, with outstanding debt of $87.9 million. Quantum completed a transaction to improve financial flexibility by selling assets for $15 million and paying down $12.3 million of debt. The new ERP system is expected to reduce capital expenditures and improve operational efficiencies. Nasdaq granted Quantum's request to stay delisting pending a hearing. Board member Marc E. Rothman will retire in August 2024 or at the 2024 annual meeting.
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-10.64%
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Quantum (QMCO) introduces advanced file service technology for StorNext and Myriad, enhancing cross-platform file sharing capabilities. The integration with Tuxera's SMB technology promises high performance, stability, and advanced features like SMB Direct RDMA and SMB Multichannel.
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Quantum introduces ActiveScale Z200 all-flash object storage to enhance AI pipelines and data workflows, providing high performance and cost efficiency for large-scale data management.
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-3.57%
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Quantum (Nasdaq: QMCO) provides business updates, emphasizing efforts to comply with Nasdaq listing requirements by May 7, 2024. The company is working on improving financial flexibility through asset disposition proceeds and prioritizing projects for working capital enhancement and new product acceleration. Quantum is re-evaluating its application of ASC 606, causing delays in filing Form 10-Qs for fiscal quarters.
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-10.45%
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Quantum introduces Scalar i7 RAPTOR, a cutting-edge tape innovation to support AI workflows for hyperscale customers and enterprises. The product offers maximum storage density, security, and sustainability, catering to the growing need for cost-effective and secure archival storage solutions for data lakes and AI model training.
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-2.13%
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Quantum Corporation (NASDAQ: QMCO) filed a Form 8-K detailing amendments to its term loan and revolving credit agreements. The amendments waived covenant requirements related to financial statements for the quarter ended December 31, 2023. Quantum has until May 15, 2024, to resume financial compliance. The company aims to reach a resolution on ASC 606 by March 31, 2024, and be current with SEC filings by May 7, 2024. Quantum is focusing on improving working capital, new product acceleration, and business focus.
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-12.5%
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Quantum Corporation (NASDAQ: QMCO) announced a delay in filing its Form 10-Q for the quarter ended December 31, 2023, due to re-evaluation of ASC Topic 606. The company aims to complete the assessment by March 31, 2024. Additionally, Quantum received a notice from Nasdaq for non-compliance with listing rules. Financial data shows a decrease in cash and equivalents, an increase in term loan debt, and interest expenses.
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Quantum Corporation (NASDAQ: QMCO) announces XENON Systems' purchase of Quantum Myriad™, an all-flash file and object storage software platform. XENON will offer Myriad to customers with data-intensive workloads, complementing Quantum ActiveScale™. Myriad's innovative architecture provides high-speed performance using flash technologies, inline data services, and cloud technologies. XENON plans to showcase Myriad at upcoming tradeshows to demonstrate its capabilities to prospective customers.
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2.08%
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Quantum Corporation (NASDAQ: QMCO) announced that Amidata, a leading managed services provider, has implemented Quantum ActiveScale™ object storage as the foundation for their new Amidata Secure Cloud Storage Service. By deploying ActiveScale, Amidata achieves simple operational efficiency, seamless scalability, and the ability to address customer needs across a wide range of use cases, workflows, and price points. The adoption of object storage aligns with current IT trends, providing a durable, cost-effective approach for backing up and archiving fast-growing data volumes while also protecting data from ransomware attacks. Quantum's tape libraries are integrated with ActiveScale Cold Storage, providing a lower cost storage class to efficiently store cold and archived data sets. With 7x24 support, no egress charges, and a flexible set of professional services, Amidata maximizes the benefits their customers achieve working with their cloud storage offering.
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-7.32%
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Quantum Corp

Nasdaq:QMCO

QMCO Rankings

QMCO Stock Data

44.58M
81.96M
13.61%
55.27%
0.26%
Computer Storage Device Manufacturing
Manufacturing
Link
US
San Jose

About QMCO

we're global experts in scale-out storage, archive and data protection. we have a different approach to storage, enabling customers to maximize business value by storing, sharing and preserving data over their entire lifecycle.