Welcome to our dedicated page for Quantum news (Ticker: QMCO), a resource for investors and traders seeking the latest updates and insights on Quantum stock.
Quantum Corporation reports developments in data management systems and software for unstructured data used in AI, media, government, research, life sciences, and industrial technology workflows. Its news commonly covers high-performance ingest, object storage, cold storage, tape libraries, data lakes, media asset management, and workflow orchestration across products such as ActiveScale, CatDV, Scalar, and StorNext.
Company updates also address customer deployments, technology integrations, partner certifications, archive and cyber-resilience use cases, quarterly financial results, operating efficiency initiatives, investor conference participation, and executive or finance organization changes.
Quantum Corporation (NASDAQ: QMCO) announced the launch of the Quantum CatDV 2021 Platform Update, featuring significant enhancements for agile content production teams. Key improvements include a new review and approval workflow, real-time messaging, and clip stacking meta-folders for better content organization. The update also integrates with Quantum's Collaborative Workflow Solution and NVIDIA GPU-based transcoding for optimized performance. Customers can deploy these solutions in the cloud or on-premises, with support for various media formats and faster file operations.
Quantum Corporation (NASDAQ: QMCO) has launched the Quantum Collaborative Workflow Solution, optimized for Adobe Premiere Pro users. This integrated system addresses remote editing challenges for creative teams, offering a high-performance shared environment combined with asset management through CatDV. The solution provides customizable archiving options, including Quantum Scalar Tape and ActiveScale, ensuring project protection and easy access to assets. Quantum's partnership with Adobe emphasizes the importance of seamless integration for enhanced productivity in creative workflows.
On Oct. 5, 2021, Quantum Corporation (QMCO) unveiled two innovations: ActiveScale Cold Storage and new Object Storage Services, designed for efficient data management. ActiveScale Cold Storage offers low-cost, durable, cloud-compatible storage for inactive data, reducing cold storage costs by 80%. These solutions aim to help organizations face the growing volume of cold data, with an expected 30% annual growth in enterprise storage needs. The products will be available in Q1 2022, enhancing customer control over data and promoting digital transformation.
Quantum Corporation (NASDAQ: QMCO) has appointed Emily White to its Board of Directors, enhancing its expertise in data management and analytics. White, currently at NIKE, brings substantial experience in enterprise data and analytics. Her role is critical as Quantum aims to expand its solutions portfolio and strengthen its software capabilities. The company positions itself to aid organizations in efficiently managing unstructured data, supporting its growth as a global company.
Quantum Corporation (NASDAQ: QMCO) announced the grant of 250,000 restricted stock units (RSUs) to John Hurley, the newly-appointed Chief Revenue Officer, under its 2021 Inducement Plan. This grant, effective September 1, 2021, is designed to attract talent and is compliant with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over three years in installments of 34% after the first year and 33% in each of the following years, contingent upon Hurley's continued employment. Quantum aims to enhance data management solutions in various sectors, reinforcing its commitment to innovation.
Quantum Corporation (NASDAQ: QMCO) has announced a new end-to-end reference architecture aimed at enhancing Advanced Driver-Assistance Systems (ADAS) and Autonomous Driving (AD) development. This architecture focuses on optimizing data acquisition, storage, and management, crucial for developing sophisticated autonomous vehicle software. The R6000, designed for high-speed data capture in rugged conditions, complements Quantum's award-winning StorNext™ File System, enabling efficient processing of terabytes of data. This innovation positions Quantum as a leader in supporting the growing needs of autonomous vehicle developers.
Quantum Corporation (NASDAQ: QMCO) has announced a definitive agreement to acquire the assets of EnCloudEn, a hyperconverged infrastructure software company. This acquisition aims to enhance Quantum's video surveillance portfolio by providing flexible, subscription-based software solutions compatible with various server hardware. Following the recent acquisition of Pivot3's surveillance business, Quantum intends to leverage EnCloudEn's technology to broaden its market reach, particularly in India and Asia. The deal is expected to close later this quarter, subject to customary conditions.
On August 23, 2021, Quantum Corporation (NASDAQ: QMCO) announced that its Chairman and CEO, Jamie Lerner, along with CFO Mike Dodson, will participate in two upcoming investor conferences.
The Jefferies Semiconductor, IT Hardware & Communications Infrastructure Summit is scheduled for September 1, followed by the Lake Street Best Ideas Growth Conference on September 15. Both events will feature virtual one-on-one meetings.
Interested portfolio managers and analysts can schedule meetings through their respective sales representatives.
Quantum Corporation (NASDAQ: QMCO) has appointed John Hurley as the new Chief Revenue Officer. With over 25 years of experience in enterprise sales and a background at Cisco, Hurley aims to drive the company’s growth as it transitions from a hardware vendor to a subscription-based software provider. CEO Jamie Lerner emphasized Hurley’s expertise will be crucial for Quantum's expansion in diverse sectors including cloud services and government. The company seeks to harness video and data management to enhance client operations globally.
Quantum Corporation (NASDAQ: QMCO) reported a 22% year-over-year revenue growth to $89.1 million for its fiscal first quarter ending June 30, 2021. Despite this growth, the GAAP net loss was $4.2 million, or ($0.07) per share. Adjusted EBITDA increased to $5.4 million. The company faced supply chain challenges but saw a significant backlog rise to $30 million, indicating strong demand. It also acquired Pivot3's video surveillance assets, adding over 500 customers. Future guidance includes expected revenues of $88 million +/- $4 million for the next quarter.