Quantum Stock Price, News & Analysis

Quantum Corporation (NASDAQ: QMCO) reported a 9% year-over-year revenue increase to $97.1 million for Q1 FY2023, surpassing guidance. Subscription customers surged 200%, exceeding 450. GAAP net loss widened to $10.6 million or ($0.13) per share. Adjusted EBITDA was $0.3 million. Operating expenses decreased, contributing to a projected reduction of $1.5 to $2.0 million in Q2. Backlog surged to $67.2 million by July 31, 2022, indicating strong future demand.

Quantum Corporation (NASDAQ: QMCO) will release its financial results for Q1 FY2023, ending June 30, 2022, on August 4, 2022, after market close. A conference call, led by CEO Jamie Lerner and CFO Mike Dodson, will take place on the same day at 5:00 p.m. ET. Analysts and investors can join the call at 1-866-424-3436 for domestic calls and +1-201-689-8058 for international calls, using conference ID 13731301. Replay will be available until August 11, 2022. Quantum specializes in data management solutions across various sectors.

Quantum Corporation (NASDAQ: QMCO) reported a fourth quarter revenue of $95.2 million, a 3.0% increase year-over-year. The fiscal year 2022 revenue totaled $372.8 million, up 6.7%, primarily driven by subscription software growth. Although the GAAP net loss for Q4 was $7.8 million ($0.13 per share), this marked an improvement compared to the previous quarter. The company strengthened its balance sheet with a $67.5 million rights offering. Future guidance expects revenues around $94 million for Q1 2023, indicating continued momentum.

Quantum Corporation (NASDAQ: QMCO) will announce its fiscal fourth quarter and full year 2022 financial results on June 8, 2022, after market close. The results will be discussed in a conference call led by Chairman and CEO Jamie Lerner and CFO Mike Dodson at 5:00 p.m. ET. Investors can dial in using 1-866-424-3436 (international: +1-201-689-8058). The call will be accessible via webcast, with replay available until June 15, 2022.

Quantum Corporation (NASDAQ: QMCO) announced participation in two upcoming investor conferences. On May 10, Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO, will engage in 1x1 meetings at the Oppenheimer Emerging Growth Conference. On May 25, they will participate in a Fireside Chat at the B. Riley Institutional Investor Conference in Beverly Hills, CA, starting at 10:50 a.m. PT, along with additional 1x1 meetings throughout the day. Quantum specializes in data solutions, helping organizations manage and enrich video and unstructured data effectively.

Quantum Corporation (NASDAQ: QMCO) recognized top channel partners in North and Latin America during the annual NAB Partner Event on April 23, 2022. The awards celebrated the highest revenue achievements among Quantum's reseller partners in 2021. Top honors went to CineSys.io (North America Partner of the Year), Advanced Systems Group (Growth Partner of the Year), CDW Canada (Canadian Partner of the Year), and Seal Telecom (Latin America Partner of the Year). Quantum emphasizes the vital role of these partners in driving business growth and market leadership.

Quantum Corporation (Nasdaq: QMCO) has successfully closed its oversubscribed Rights Offering, raising a total of $67.5 million and issuing 30 million shares. This substantial capital will reduce debt by $20 million and enhance cash reserves by over $45 million, strengthening the company's financial position. Additionally, amendments were made to debt covenants, allowing for increased revolving credit facilities and favorable terms. The funds are designated for debt repayment and general corporate purposes, aiming to support revenue growth amidst supply chain challenges.

Quantum Corporation (NASDAQ: QMCO) announced a new solution integrating AI capabilities in its CatDV software, enhancing video content enrichment for broadcast and media workflows. This solution, showcased at the NAB Show from April 23-27 in Las Vegas, utilizes NVIDIA's AI technologies, enabling customers to automate video tagging, object recognition, and more, saving time and resources. This on-premises alternative to cloud services leverages NVIDIA's A2 Tensor Core GPUs and aims to maximize the value of content libraries.

Quantum Corporation (NASDAQ: QMCO) has launched the F2100 NVMe storage appliance, offering unprecedented performance and storage capabilities in media production. This new technology provides up to 50GB/s for multi-client reads and can store up to 737TB of raw NVMe data, doubling previous generation speeds and capacities. Enhanced integration with Quantum Cloud-Based Analytics will improve system monitoring. The F2100 aims to streamline workflows for video production, rendering, and advanced applications in AR/VR and AI/ML. Orders are available immediately, with a showcase at NAB Show.