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) 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.
Quantum Corporation (NASDAQ: QMCO) announced the successful refinancing of its senior secured term loan, replacing its previous facility with a new $100 million loan maturing in 2026. This refinancing will reduce annual interest expenses by $7 million and improve restrictive financial covenants. CEO Jamie Lerner emphasized that this move enhances financial flexibility and demonstrates strong financial management. The announcement seeks to reassure investors by highlighting Quantum's commitment to addressing customer data storage challenges and improving overall financial health.
Quantum Corporation (NASDAQ: QMCO) announced participation in two upcoming investor conferences. Jamie Lerner, Chairman and CEO, alongside Mike Dodson, CFO, will attend the Oppenheimer Technology, Internet & Communications Conference on August 11 at 1:15 p.m. ET and the B. Riley Securities Summer Summit on August 19, with in-person meetings in Santa Monica, CA. Webcasts of presentations will be available on Quantum's investor website. Quantum focuses on advanced technology for digital content management, supporting various industries.
Quantum Corporation (NASDAQ: QMCO) will release its financial results for the first fiscal quarter ended June 30, 2021, on August 9, 2021, after market close. A conference call led by Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO, will occur at 5:00 p.m. ET to discuss results. Investors can access the call via the provided dial-in numbers or listen online. A replay will be available shortly after the call and for one week following the event. Interested parties can visit investors.quantum.com for more details.
Quantum Corporation (NASDAQ: QMCO) announced its agreement to acquire the video surveillance portfolio and assets of Pivot3 for approximately $8.9 million. This acquisition is expected to enhance Quantum's position in the multi-billion-dollar video surveillance market, expanding its customer base and product offerings under the Quantum VS-Series. The deal is projected to be slightly accretive to EBITDA through the rest of Fiscal 2022 and aims to bolster Quantum's capabilities in managing the video data lifecycle.
Quantum Corporation (NASDAQ: QMCO) announced the deployment of its end-to-end software platform by EFD Digital, enhancing video post-production services. This subscription-based solution, powered by Quantum's StorNext software, has been recognized as the fastest file system for video workloads. EFD Digital aims to improve collaboration among its creative professionals, allowing faster project delivery. The initial deployment includes 1 PB of storage, with plans to scale to 3 PB within a year, catering to rising demand for video content in a post-pandemic environment.
Quantum Corporation (QMCO) announced the appointment of Ross Fujii as General Manager of Emerging Markets and Product Marketing, effective June 28, 2021. With significant experience in data management and software distribution, Fujii aims to transition Quantum from a hardware-centric model to a subscription-based service provider. His focus will be on expanding into emerging markets such as video surveillance and advanced driver-assistance systems (ADAS). CEO Jamie Lerner emphasized Fujii's role in the company's strategic shift towards digital transformation and data solutions.
Quantum Corporation (NASDAQ: QMCO) has teamed up with Supermicro to provide scalable object storage solutions, allowing customers to manage vast amounts of unstructured data efficiently. This partnership combines Quantum's ActiveScale software with Supermicro's high-capacity servers, optimizing performance for data-heavy applications like enterprise archiving and AI research. The new technology aims to help organizations leverage their data without proportional budget increases, addressing the challenges posed by massive data growth.
Quantum Corporation (NASDAQ: QMCO) announced the release of ActiveScale 6.0 object storage software, designed to enhance data management for unstructured data.
Key features include unlimited scalability and consistent performance across all scales, with a new ActiveScale X200 platform offering increased storage density and throughput.
With 78% greater storage density and 7X increased throughput, ActiveScale 6.0 aims to improve user productivity while reducing management costs. The software is available for purchase via Supermicro, providing flexible deployment options.
Quantum Corporation (NASDAQ: QMCO) will participate in the Craig-Hallum Institutional Investor Conference on June 2, 2021. CEO Jamie Lerner and CFO Mike Dodson are set to engage in discussions throughout the virtual event. Investors interested in meeting with the management can coordinate with their Craig-Hallum representatives. Quantum specializes in data lifecycle solutions, serving a diverse range of industries including entertainment and enterprise.