Welcome to our dedicated page for Quantum Corporation news (Ticker: QMCO), a resource for investors and traders seeking the latest updates and insights on Quantum Corporation stock.
Quantum Corporation (QMCO) is a leading provider of innovative data storage and management solutions. Headquartered in the United States, Quantum specializes in scale-out storage, archive, and data protection services aimed at small businesses and large multinational enterprises alike. The company offers a unique approach to managing data throughout its entire lifecycle, from capture and sharing to long-term preservation.
Quantum's solutions are designed to handle large unstructured data sets and provide capabilities such as data ingestion, real-time collaboration, scalability, and robust protection. A significant portion of the company's revenue is derived from products based on tape technology, which remains a reliable and cost-effective medium for data storage.
One of the core strengths of Quantum is its scale-out portfolio, which allows businesses to manage digital assets efficiently and maximize their value. The company serves a global market, with the majority of its revenue generated in the Americas, followed by significant contributions from Europe and the Asia-Pacific region.
In recent developments, Quantum has made strides in enhancing its product offerings and expanding its market reach. The company has formed strategic partnerships and continues to innovate in the data management sector. Quantum's commitment to providing high-quality, reliable storage solutions has solidified its position as a trusted partner for businesses looking to protect and manage their data assets.
Quantum (Nasdaq: QMCO) has announced a 1-for-20 reverse stock split of its common stock, effective August 26, 2024. This move aims to increase the per-share trading price to meet Nasdaq's continued listing standards. The split will reduce outstanding shares from approximately 95,849,938 to 4,792,497. Trading on a split-adjusted basis will begin on August 27, 2024, under the same symbol QMCO but with a new CUSIP number (747906600). Proportionate adjustments will be made to equity awards, warrants, and shares issuable under equity incentive plans. Shareholders with book-entry or beneficially held shares need not take action, while those with certificated shares will receive instructions from Computershare Trust Company, N.A., the exchange agent.
Quantum (Nasdaq: QMCO) reported its fiscal Q1 2025 results, with revenue of $71.3 million, down from $92.5 million in Q1 2024. The company faced challenges, including a GAAP net loss of $20.8 million ($0.22 per share) and an adjusted non-GAAP net loss of $8.4 million ($0.09 per share). Despite these setbacks, Quantum saw a 29% year-over-year increase in Subscription ARR to $18.8 million.
CEO Jamie Lerner noted improving traction for Myriad and ActiveScale products, but highlighted temporary headwinds affecting gross margins. The company has reached an agreement with lenders to improve liquidity and restructure financing. For Q2 2025, Quantum projects revenues of $73.0 million (±$2.0 million) and a non-GAAP adjusted basic net loss per share of ($0.06) (±$0.02).
Quantum (NASDAQ: QMCO), a leader in AI and unstructured data solutions, has announced the release of its fiscal first quarter 2025 financial results on Tuesday, August 13, 2024, after market close. The company will host a conference call at 5:00 p.m. ET (2:00 p.m. PT) to discuss the results, led by Jamie Lerner, Chairman and CEO, and Kenneth Gianella, CFO.
Analysts and investors can join the call using the following details:
- Conference Call Number: 1-866-424-3436
- International Call Number: +1-201-689-8058
- Conference ID: 13748092
Quantum (Nasdaq: QMCO) announced its fiscal year 2024 financial results, reporting a revenue of $311.6 million, a 26.2% decrease from the previous year. The GAAP net loss was $41.3 million or ($0.43) per share. The adjusted non-GAAP net loss was $27.5 million or ($0.29) per share. Adjusted EBITDA stood at ($5.3) million.
Annual recurring revenue reached $145 million, with subscription ARR up 33% to $17.8 million. The company highlights significant operational restructuring, expecting $16 million in annualized savings. Gross margins improved by over 600 basis points year-over-year.
Cash and cash equivalents ended at $25.9 million, with outstanding term loan debt at $87.9 million. For fiscal year 2025, Quantum anticipates revenues of $310 million ± $10 million, with adjusted EBITDA projected at $15 million ± $5 million.
Quantum (NASDAQ: QMCO) will announce its fiscal year 2024 financial results on June 17, 2024, after market close.
Chairman and CEO Jamie Lerner and CFO Kenneth Gianella will host a conference call at 5:00 p.m. Eastern Time to discuss the results, including the ASC-606 re-evaluation process, and provide a business update.
The call will be accessible via phone and webcast, with replay options available until June 24, 2024.
Quantum (Nasdaq: QMCO) will release its financial results for fiscal 2024 on June 17, 2024, after market close. This follows the conclusion of a review of its previously announced accounting matters. An analysis of standalone selling price (SSP) under ASC 606 has led to estimated revenue and net income increases for fiscal years 2022, 2023, and the first quarter of fiscal 2024. Adjustments will decrease deferred revenue on the balance sheet but have no impact on invoicing, cash, or customer obligations. The company also identified outstanding warrant agreements that have now been reclassified from equity to liability based on ASC 815, resulting in increased net income for the restated periods. These adjustments do not affect ongoing operations or lender obligations. Annual reports covering these periods will be filed on June 17. Quantum also amended its term loan and revolving credit agreements, waiving the total net leverage ratio covenant for Q1 2024.
Quantum (Nasdaq: QMCO) provided an update on its efforts to become current with SEC financial reports, securing a stay on the delisting of its common stock by Nasdaq. The company outlined plans to comply with Nasdaq listing criteria, including progress towards applying ASC Topic 606 and updated timelines for filing quarterly and annual reports.
Quantum (NASDAQ: QMCO) has introduced Quantum GO, a subscription model aimed at meeting the increasing data management needs of organizations, particularly in the AI and ML era. This innovative solution offers low upfront payments, flexible payment options, and a 'pay-as-you-grow' model, providing a private cloud experience at a low entry point. Quantum GO is managed and monitored by Quantum Support and is available for various storage solutions, catering to customers' diverse needs.
Quantum (NASDAQ: QMCO) has announced an expansion of its global partnership model in Asia-Pacific markets including South Korea, Japan, Australia, and New Zealand. The company aims to reach a broader customer base with its end-to-end data management solutions by entering into exclusive distributor agreements with TS Line Systems, ACA Pacific, and NGC. This move is intended to scale Quantum's footprint faster and more efficiently, providing enhanced customer experience and optimizing growth opportunities in the AI and machine learning-driven market.
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