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Quantum Corporation (QMCO) provides innovative data management solutions for enterprises managing large-scale unstructured data. This news hub delivers official updates and analysis on Quantum's strategic initiatives, financial performance, and technological advancements.
Investors and industry professionals will find timely updates including earnings reports, product launches, strategic partnerships, and leadership developments. Our curated collection ensures access to verified information about Quantum's scale-out storage solutions, archive technologies, and data protection systems.
Bookmark this page for structured insights into Quantum's progress across media, healthcare, and research sectors. Check regularly for updates on software-defined storage innovations and enterprise data management trends directly affecting QMCO's market position.
Quantum (NASDAQ: QMCO) will announce its fiscal year 2024 financial results on June 17, 2024, after market close.
Chairman and CEO Jamie Lerner and CFO Kenneth Gianella will host a conference call at 5:00 p.m. Eastern Time to discuss the results, including the ASC-606 re-evaluation process, and provide a business update.
The call will be accessible via phone and webcast, with replay options available until June 24, 2024.
Quantum (Nasdaq: QMCO) will release its financial results for fiscal 2024 on June 17, 2024, after market close. This follows the conclusion of a review of its previously announced accounting matters. An analysis of standalone selling price (SSP) under ASC 606 has led to estimated revenue and net income increases for fiscal years 2022, 2023, and the first quarter of fiscal 2024. Adjustments will decrease deferred revenue on the balance sheet but have no impact on invoicing, cash, or customer obligations. The company also identified outstanding warrant agreements that have now been reclassified from equity to liability based on ASC 815, resulting in increased net income for the restated periods. These adjustments do not affect ongoing operations or lender obligations. Annual reports covering these periods will be filed on June 17. Quantum also amended its term loan and revolving credit agreements, waiving the total net leverage ratio covenant for Q1 2024.
Quantum (Nasdaq: QMCO) provided an update on its efforts to become current with SEC financial reports, securing a stay on the delisting of its common stock by Nasdaq. The company outlined plans to comply with Nasdaq listing criteria, including progress towards applying ASC Topic 606 and updated timelines for filing quarterly and annual reports.
Quantum (NASDAQ: QMCO) has introduced Quantum GO, a subscription model aimed at meeting the increasing data management needs of organizations, particularly in the AI and ML era. This innovative solution offers low upfront payments, flexible payment options, and a 'pay-as-you-grow' model, providing a private cloud experience at a low entry point. Quantum GO is managed and monitored by Quantum Support and is available for various storage solutions, catering to customers' diverse needs.
Quantum (NASDAQ: QMCO) has announced an expansion of its global partnership model in Asia-Pacific markets including South Korea, Japan, Australia, and New Zealand. The company aims to reach a broader customer base with its end-to-end data management solutions by entering into exclusive distributor agreements with TS Line Systems, ACA Pacific, and NGC. This move is intended to scale Quantum's footprint faster and more efficiently, providing enhanced customer experience and optimizing growth opportunities in the AI and machine learning-driven market.
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