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 its fiscal fourth quarter and year 2021 results, revealing a 5% increase in revenue year-over-year to $92.4 million. Despite a GAAP net loss of $17.5 million ($0.35 per share), adjusted net income rose to $2.1 million ($0.03 per share). Adjusted EBITDA increased to $8.3 million. The company experienced strong demand with customer orders returning to pre-COVID levels; however, supply chain shortages hampered order fulfillment. Cash reserves improved to $33.1 million, bolstered by a successful secondary offering.
Quantum Corporation (NASDAQ: QMCO) will release its financial results for the fiscal fourth quarter and full year on May 26, 2021, after market close. The results will cover the period ending March 31, 2021. Chairman and CEO Jamie Lerner and CFO Mike Dodson will discuss the outcomes in a conference call at 4:30 p.m. ET. Analysts and investors can access the call via specified phone numbers or by webcast. A replay will be available shortly after the call and can be accessed until June 2, 2021.
Quantum Corporation (NASDAQ: QMCO) announced the launch of its new StorNext architecture and H4000 Series appliances designed to simplify the management and protection of video content and critical data. This innovative architecture aims to reduce power and cooling costs by consolidating components, resulting in a 66% reduction in components and 50% less rack space needed. The new StorNext 7 software enhances usability with improved monitoring and management features. The H4000 Series is available for purchase, with shipments expected by the end of May 2021.
Quantum Corporation (NASDAQ: QMCO) has appointed Brian Cabrera as General Counsel and Chief Compliance Officer as of April 19, 2021. Cabrera has over 25 years of experience in the legal and regulatory sectors, previously serving as General Counsel at NVIDIA. His expertise is expected to aid Quantum in its transition to software-defined solutions for managing video and unstructured data. CEO Jamie Lerner highlighted Cabrera's history of facilitating growth at NVIDIA, which increased in value from $15 billion to over $100 billion under his guidance.
Quantum Corporation (NASDAQ: QMCO) has launched a new reference architecture for large-scale surveillance workloads designed for high-performance shared storage. This solution integrates Quantum's StorNext®, recognized as the world's fastest file system for video workloads. The architecture supports 500 to 2,000 cameras and data retention from 30 days to 1 year. This innovation aims to meet the growing demands of surveillance data management, ensuring no dropped frames during recording. Quantum continues to invest in this sector, recently enhancing its business development team in the Middle East, India, and Asia Pacific.
Quantum Corporation (NASDAQ: QMCO) will participate in the Loop Capital Markets Virtual Consumer, Industrials & TMT Conference on March 12, 2021. Management, including Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO, will be available for investor calls throughout the event. Quantum specializes in technology that helps capture, create, and protect digital content across various sectors, being a key player in high-resolution video and industrial IoT solutions. The company was added to the Russell 2000® Index in 2020.
Quantum Corporation (NASDAQ: QMCO) announced its StorNext® File System as the fastest for video workloads, achieving record performance metrics in the SPEC SFS 2014 benchmark. It outperformed competitors with the highest throughput at 34,391 MB/sec, lowest latency at 0.9 milliseconds, and 7,450 concurrent streams, using 57% fewer storage nodes. This positions StorNext favorably for industries requiring extensive video data management, including media, surveillance, and earth sciences. Quantum's technology is well-suited for growing demands in high-performance storage.
Quantum Corporation (NASDAQ: QMCO) has announced its ActiveScale™ S3-compatible object storage system achieved Veeam® Ready qualification for Object and Object with Immutability. This qualification enhances data security for enterprises managing unstructured data. Quantum ActiveScale offers features like Object Lock, ensuring data protection against ransomware threats. The product supports end-to-end encryption and is designed for various industries, enhancing compliance and data availability. This partnership with Veeam solidifies Quantum's commitment to delivering robust data protection solutions.
Quantum Corporation (Nasdaq: QMCO) has successfully closed its underwritten public offering of 15,109,489 shares, including 1,970,803 additional shares due to the underwriters' option, priced at $6.85 per share. The offering generated gross proceeds of approximately $103.5 million. Quantum intends to use the net proceeds to repay part of its senior secured term loan, aiming to strengthen its financial position. The offering was facilitated by B. Riley Securities and Oppenheimer & Co. as joint managers.
Quantum Corporation (Nasdaq: QMCO) has announced a public offering of 13,138,686 shares at $6.85 each, aiming to raise approximately $90 million. The offering is scheduled to close on February 8, 2021, pending customary conditions. Quantum plans to utilize the proceeds to reduce a portion of its senior secured term loan debt. Additionally, underwriters have a 30-day option to purchase up to 1,970,803 additional shares to enhance capital raising. B. Riley Securities and Oppenheimer & Co. are leading the offering, with a registration statement effective since December 9, 2020.