Quantum Stock Price, News & Analysis

Quantum Corporation (NASDAQ: QMCO) reported a strong fiscal Q3 2023, with revenue rising 16.6% year-over-year to $111.2 million. The GAAP net loss narrowed to $2.2 million or ($0.02) per share, while adjusted net income was $1.6 million, translating to $0.02 per diluted share. Adjusted EBITDA increased significantly to $6.3 million. Operational efficiencies contributed to improved margins, but the company anticipates slight gross margin compression in Q4, estimating revenues between $102 million and $104 million and a non-GAAP adjusted net loss per share of ($0.04).

Quantum Corporation (NASDAQ: QMCO) will announce its fiscal third quarter 2023 financial results on February 2, 2023, following market close. The announcement will be followed by a conference call at 5:00 p.m. ET led by CEO Jamie Lerner and CFO Kenneth Gianella. Analysts and investors can participate using the provided conference call numbers. A replay of the call will be available later and can be accessed through February 9, 2023. Quantum's innovative technology solutions aim to enhance data management across various industries, showcasing its commitment to data intelligence.

Quantum Corporation (NASDAQ: QMCO) announced participation in the 25th Annual Needham Growth Conference on January 12, 2023. Chairman and CEO Jamie Lerner and CFO Kenneth Gianella will present at 2:15 p.m. ET and will hold virtual meetings throughout the day. Portfolio managers and analysts can request meetings via email. A live and archived replay of the presentation will be available on Quantum's investor relations webpage.

Quantum specializes in data management solutions, serving diverse sectors including cloud services and entertainment.

Quantum Corporation (NASDAQ: QMCO) announced preliminary third-quarter fiscal 2023 results, with expected revenue of approximately $110 million, exceeding its guidance of $103 million. The company has appointed Kenneth Gianella as the new Chief Financial Officer, effective January 12, 2023, succeeding Mike Dodson, who will assist in the transition. Gianella's experience in operational finance is seen as valuable for Quantum's strategic priorities aimed at EBITDA expansion and shareholder value enhancement.

Quantum Corporation (NASDAQ: QMCO) reported second quarter fiscal 2023 revenue of $99.1 million, a 6% increase year-over-year and at the high end of guidance. The company's backlog reached a record $96.1 million, driven primarily by hyperscale customer orders. Despite a GAAP net loss of $11.9 million or ($0.13) per share, adjusted EBITDA improved to $4.1 million. Looking ahead, Quantum estimates revenues for the next quarter to exceed $103 million, with an anticipated adjusted net loss of ($1.5 million).

Quantum Corporation (Nasdaq: QMCO) will release its financial results for the second fiscal quarter 2023 on November 2, 2022, after market close. A conference call will follow the announcement at 5:00 p.m. ET, featuring Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO. Additionally, Quantum will host a Virtual Analyst Day on November 17, 2022, at 11:00 a.m. ET, focusing on its long-term strategy and data lifecycle solutions. The event will be available via webcast on the company's investor relations website.

Quantum Corporation (NASDAQ: QMCO) has expanded its partnership with Atempo to introduce validated solution bundles combining Atempo Tina software with Quantum's media servers and secondary storage solutions. The new capacity-based subscription model simplifies data protection for organizations, addressing their need for secure, scalable backup solutions. The bundles cater to both SMBs and enterprises, enhancing cybersecurity resilience while easing deployment and support. Available immediately, these solutions aim to improve data security against threats like ransomware.

Quantum Corporation (Nasdaq: QMCO) announced the appointments of Don Jaworski and Hugues Meyrath to its Board of Directors, effective November 9, 2022. Jamie Lerner, CEO, stated that their expertise in software product development will support Quantum's strategic vision and enhance shareholder value. Jaworski brings over 40 years of experience in scaling organizations and has previously held leadership roles at Lacuna Technologies and NetApp. Meyrath has significant experience in product management and development from ServiceChannel and Dell Technologies. This leadership expansion is expected to positively influence Quantum's data management solutions.