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 (NASDAQ: QMCO) is a technology company focused on end-to-end data management for unstructured data in the AI era. Its news flow reflects this focus, with regular updates on product enhancements, financial performance, capital structure, and strategic collaborations that shape its role in AI-aligned storage and data infrastructure.
Investors and industry observers following QMCO news will see earnings announcements and preliminary financial results, where Quantum reports revenue, gross margin, operating expenses, and non-GAAP metrics such as adjusted operating expenses and adjusted EBITDA. These releases often include management commentary on restructuring efforts, cost structure changes, and balance sheet initiatives, including debt exchanges and term loan amendments.
Quantum’s news also highlights product and platform developments. Recent announcements include enhancements to the ActiveScale object storage platform, such as Ranged Restore for Glacier-class archives and performance improvements for small object restores, as well as updates to Scalar tape libraries like the Scalar i3 and the Scalar iSCSI Bridge for Ethernet connectivity. These stories provide insight into how the company is evolving its storage technologies for AI, analytics, and cold data use cases.
Another recurring theme in QMCO news is strategic and capital markets activity. Quantum has issued press releases on shareholder approvals for debt exchanges, the issuance of senior secured convertible notes, and its participation in investor conferences hosted by firms such as Needham and Northland. The company also discloses strategic partnerships, including an MOU with Entanglement, Inc. to advance quantum logic, post-quantum encryption, and regionalized AI data storage services.
By monitoring Quantum’s news feed, readers can track how the company’s financial results, storage innovations, and financing transactions interact with its broader strategy in AI-era unstructured data management. This page aggregates those updates in one place for convenient review.
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.
Quantum Corporation (NASDAQ: QMCO) has launched its StorNext file system as a subscription offering on AWS Marketplace, enabling remote collaborative video editing. This innovation allows users to set up shared storage swiftly without hardware or custom configurations. StorNext is available in configurations from 12TB to 62.5TB with various subscription plans, supporting data tiering to Amazon S3. The initiative is part of Quantum's broader cloud strategy aimed at enhancing agility in production operations.
Quantum Corporation (Nasdaq: QMCO) announced the appointment of Christopher D. Neumeyer to its Board of Directors, effective August 22, 2022. Neumeyer, who has served as a non-voting Board observer since 2016, brings extensive corporate finance and governance experience to the position. His addition aims to enhance Quantum's strategic initiatives and improve financial performance and shareholder value. Notably, funds managed by Neumeyer’s employer, PIMCO, hold 15.4% of Quantum's common stock, indicating strong alignment with shareholder interests.
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.
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