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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.
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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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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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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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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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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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Quantum Corporation (Nasdaq: QMCO) has been granted an extension to file its Form 10-Q for the period ended September 30, 2023, on or before May 7, 2024, after its plan to regain compliance was approved by the Nasdaq Stock Market LLC. This announcement was made on January 27, 2024.
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Quantum Corporation (QMCO) has submitted a plan to regain compliance with Nasdaq Listing Rules, expecting an extension of up to 180 days to file its quarterly reports. The delay is due to a re-evaluation of the Company's application of standalone selling price under Accounting Standards Codification Topic 606 ('Topic 606'). Quantum aims to complete the re-evaluation by March 31, 2024, and file the second fiscal quarter 10-Q by May 7, 2024. The delay will also affect the filing of the third fiscal quarter 10-Q.
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Quantum (QTM) announces MR Datentechnik's implementation of Quantum ActiveScale™ object storage as the foundation of their new MR S3 Storage Service, driving rapid growth, profitable new revenue, and high customer satisfaction.
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Quantum Corporation (QMCO) announces the availability of Quantum Myriad™, an all-flash, scale-out file and object storage software platform for the enterprise. The cloud-native solution has demonstrated high performance in early-access testing, offering deployment flexibility and consistent high performance for data-intensive workloads. Eikon Therapeutics, a life sciences company, has evaluated Myriad on their informatics and omics research workloads and found it to be extremely performant, with many enterprise features and a polished interface.
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FAQ
What does Quantum Corporation do?
Quantum Corporation specializes in scale-out storage, archive, and data protection solutions for both small businesses and large multinational enterprises.
Where is Quantum Corporation headquartered?
Quantum Corporation is headquartered in the United States.
What is the primary technology behind Quantum's products?
Quantum's primary technology is based on tape, which provides a reliable and cost-effective medium for data storage.
Who are Quantum Corporation's main customers?
Quantum serves a diverse range of customers, including small businesses and large multinational enterprises.
What geographic regions generate the most revenue for Quantum?
The majority of Quantum's revenue is generated in the Americas, with additional revenue coming from Europe and the Asia-Pacific region.
What recent achievements has Quantum Corporation made?
Quantum has made significant advancements in enhancing its product offerings, expanding its market reach, and forming strategic partnerships.
What are the core strengths of Quantum's solutions?
Quantum's solutions excel in managing large unstructured data sets, providing real-time collaboration, scalability, data ingestion, and robust protection.
How does Quantum's scale-out storage benefit businesses?
Quantum's scale-out storage allows businesses to efficiently manage their digital assets and maximize their value over the entire data lifecycle.
What makes Quantum's data protection solutions unique?
Quantum offers a unique approach to data protection that ensures data is safeguarded from capture to long-term preservation.
What type of data does Quantum help manage?
Quantum helps manage large sets of unstructured data, providing solutions for its capture, sharing, management, and long-term preservation.
Quantum Corporation
Nasdaq:QMCO
QMCO Rankings
QMCO Stock Data
38.34M
95.85M
14.14%
52.69%
0.14%
Computer Storage Device Manufacturing
Manufacturing
United States of America
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