Welcome to our dedicated page for Quantum Corporation news (Ticker: QMCO), a resource for investors and traders seeking the latest updates and insights on Quantum Corporation stock.
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.
On August 23, 2021, Quantum Corporation (NASDAQ: QMCO) announced that its Chairman and CEO, Jamie Lerner, along with CFO Mike Dodson, will participate in two upcoming investor conferences.
The Jefferies Semiconductor, IT Hardware & Communications Infrastructure Summit is scheduled for September 1, followed by the Lake Street Best Ideas Growth Conference on September 15. Both events will feature virtual one-on-one meetings.
Interested portfolio managers and analysts can schedule meetings through their respective sales representatives.
Quantum Corporation (NASDAQ: QMCO) has appointed John Hurley as the new Chief Revenue Officer. With over 25 years of experience in enterprise sales and a background at Cisco, Hurley aims to drive the company’s growth as it transitions from a hardware vendor to a subscription-based software provider. CEO Jamie Lerner emphasized Hurley’s expertise will be crucial for Quantum's expansion in diverse sectors including cloud services and government. The company seeks to harness video and data management to enhance client operations globally.
Quantum Corporation (NASDAQ: QMCO) reported a 22% year-over-year revenue growth to $89.1 million for its fiscal first quarter ending June 30, 2021. Despite this growth, the GAAP net loss was $4.2 million, or ($0.07) per share. Adjusted EBITDA increased to $5.4 million. The company faced supply chain challenges but saw a significant backlog rise to $30 million, indicating strong demand. It also acquired Pivot3's video surveillance assets, adding over 500 customers. Future guidance includes expected revenues of $88 million +/- $4 million for the next quarter.
Quantum Corporation (NASDAQ: QMCO) announced the successful refinancing of its senior secured term loan, replacing its previous facility with a new $100 million loan maturing in 2026. This refinancing will reduce annual interest expenses by $7 million and improve restrictive financial covenants. CEO Jamie Lerner emphasized that this move enhances financial flexibility and demonstrates strong financial management. The announcement seeks to reassure investors by highlighting Quantum's commitment to addressing customer data storage challenges and improving overall financial health.
Quantum Corporation (NASDAQ: QMCO) announced participation in two upcoming investor conferences. Jamie Lerner, Chairman and CEO, alongside Mike Dodson, CFO, will attend the Oppenheimer Technology, Internet & Communications Conference on August 11 at 1:15 p.m. ET and the B. Riley Securities Summer Summit on August 19, with in-person meetings in Santa Monica, CA. Webcasts of presentations will be available on Quantum's investor website. Quantum focuses on advanced technology for digital content management, supporting various industries.
Quantum Corporation (NASDAQ: QMCO) will release its financial results for the first fiscal quarter ended June 30, 2021, on August 9, 2021, after market close. A conference call led by Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO, will occur at 5:00 p.m. ET to discuss results. Investors can access the call via the provided dial-in numbers or listen online. A replay will be available shortly after the call and for one week following the event. Interested parties can visit investors.quantum.com for more details.
Quantum Corporation (NASDAQ: QMCO) announced its agreement to acquire the video surveillance portfolio and assets of Pivot3 for approximately $8.9 million. This acquisition is expected to enhance Quantum's position in the multi-billion-dollar video surveillance market, expanding its customer base and product offerings under the Quantum VS-Series. The deal is projected to be slightly accretive to EBITDA through the rest of Fiscal 2022 and aims to bolster Quantum's capabilities in managing the video data lifecycle.
Quantum Corporation (NASDAQ: QMCO) announced the deployment of its end-to-end software platform by EFD Digital, enhancing video post-production services. This subscription-based solution, powered by Quantum's StorNext software, has been recognized as the fastest file system for video workloads. EFD Digital aims to improve collaboration among its creative professionals, allowing faster project delivery. The initial deployment includes 1 PB of storage, with plans to scale to 3 PB within a year, catering to rising demand for video content in a post-pandemic environment.
Quantum Corporation (QMCO) announced the appointment of Ross Fujii as General Manager of Emerging Markets and Product Marketing, effective June 28, 2021. With significant experience in data management and software distribution, Fujii aims to transition Quantum from a hardware-centric model to a subscription-based service provider. His focus will be on expanding into emerging markets such as video surveillance and advanced driver-assistance systems (ADAS). CEO Jamie Lerner emphasized Fujii's role in the company's strategic shift towards digital transformation and data solutions.
Quantum Corporation (NASDAQ: QMCO) has teamed up with Supermicro to provide scalable object storage solutions, allowing customers to manage vast amounts of unstructured data efficiently. This partnership combines Quantum's ActiveScale software with Supermicro's high-capacity servers, optimizing performance for data-heavy applications like enterprise archiving and AI research. The new technology aims to help organizations leverage their data without proportional budget increases, addressing the challenges posed by massive data growth.
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