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) will host a Virtual Analyst & Investor Day on August 26, 2020, from 11:00 a.m. to 2:00 p.m. ET. The event will feature presentations by the executive team, followed by an interactive Q&A session. Interested participants can register here and watch the event via the webcast. Quantum is known for its innovative solutions in video and unstructured data, aimed at enhancing digital content management and preservation.
Quantum Corp. (NASDAQ: QMCO) has launched the DXi 4.1 software for its backup appliances, enhancing backup and restore performance significantly. This update integrates with Veeam Backup & Replication v10, allowing for ultra-fast synthetic full backups, improving efficiency for large enterprises. The cloud-based analytics feature enables remote monitoring of system health, while the software also supports Veritas NetBackup and offers improved replication capabilities. DXi 4.1 is available as a complimentary upgrade for DXi4800 and DXi9000 appliances.
Quantum Corporation (NASDAQ: QMCO) reported financial results for Q1 FY2021, with revenue of $73.3 million, down 31% year-over-year. The GAAP net loss was $10.7 million or $(0.27) per share, compared to a net loss of $3.8 million in the same quarter last year. Gross margin slightly decreased to 42.1%. Operating expenses fell by 20% to $34.3 million. The company holds $29.1 million in cash and reduced debt through amended credit facilities. For Q2 FY2021, Quantum anticipates revenue of $83 million and an adjusted net loss of $3 million.
Quantum Corp. (NASDAQ: QMCO) announced that its ActiveScale™ S3-compatible object store software is now a verified Veeam Ready Object Solution. This status reinforces Quantum's role in managing unstructured data through a software-defined approach. Acquired in March 2020, ActiveScale offers scalable, durable storage ideal for long-term data retention. The partnership with Veeam enhances operational compatibility, benefiting customers who utilize Veeam’s Cloud Data Management solutions.
Quantum Corp. (NASDAQ: QMCO) has launched new multi-factor authentication software for its Scalar® i3 and i6 tape libraries to enhance security against ransomware attacks. This innovation emphasizes Quantum's commitment to protecting customer data. The new Ransomware Protection Packs, starting at $9,999, bundle various security features, leveraging Active Vault and AES-256 encryption. The offerings aim to facilitate data protection across organizations of varying sizes. Positive initial reception from customers and channel partners has been reported since January.
Quantum Corporation (NASDAQ: QMCO) reported fiscal 2020 financial results, with revenue of $402.9 million, a slight increase from $402.7 million in fiscal 2019. Gross margins improved to 42.8% from 41.6%. Despite a net loss of $5.2 million or $(0.14) per diluted share, adjusted net income rose to $15.4 million, showing a significant improvement year-over-year. Operating expenses decreased by 12% to $151.3 million. The company anticipates a challenging outlook for the first fiscal quarter of 2021 due to COVID-19 disruptions, expecting revenues around $73 million.
Quantum Corp. (NASDAQ: QMCO) announced that Eric Bassier, the senior director of product marketing, will present at ISC 2020 Digital from June 22-25, 2020. His presentation will focus on machine learning and its data storage requirements, discussing key considerations for machine learning at scale, reference architectures, and long-term data preservation options. This event highlights Quantum's advancements following the addition of ActiveScale object storage to its portfolio, which supports high-performance computing needs.