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 (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.
Quantum Corporation (NASDAQ: QMCO) has announced its ActiveScale™ S3-compatible object storage system achieved Veeam® Ready qualification for Object and Object with Immutability. This qualification enhances data security for enterprises managing unstructured data. Quantum ActiveScale offers features like Object Lock, ensuring data protection against ransomware threats. The product supports end-to-end encryption and is designed for various industries, enhancing compliance and data availability. This partnership with Veeam solidifies Quantum's commitment to delivering robust data protection solutions.
Quantum Corporation (Nasdaq: QMCO) has successfully closed its underwritten public offering of 15,109,489 shares, including 1,970,803 additional shares due to the underwriters' option, priced at $6.85 per share. The offering generated gross proceeds of approximately $103.5 million. Quantum intends to use the net proceeds to repay part of its senior secured term loan, aiming to strengthen its financial position. The offering was facilitated by B. Riley Securities and Oppenheimer & Co. as joint managers.
Quantum Corporation (Nasdaq: QMCO) has announced a public offering of 13,138,686 shares at $6.85 each, aiming to raise approximately $90 million. The offering is scheduled to close on February 8, 2021, pending customary conditions. Quantum plans to utilize the proceeds to reduce a portion of its senior secured term loan debt. Additionally, underwriters have a 30-day option to purchase up to 1,970,803 additional shares to enhance capital raising. B. Riley Securities and Oppenheimer & Co. are leading the offering, with a registration statement effective since December 9, 2020.
Quantum Corp. (Nasdaq: QMCO) announced a public offering of its common stock aimed at repaying a portion of its senior secured term loan. The share offering is underwritten and subject to market conditions, with no assurance of completion or specific terms. B. Riley Securities and Oppenheimer & Co. are the lead managers for the offering. A previously filed shelf registration statement became effective on December 9, 2020. The company emphasizes that this press release does not constitute an offer to sell these securities in jurisdictions where it would be unlawful.
Quantum Corp. (NASDAQ: QMCO) announced the adoption of the 2021 Inducement Plan, effective February 1, 2021. This plan allows for granting equity awards to new employees as a recruitment incentive. The company granted a total of 320,000 restricted stock awards (RSUs) to eight new hires, with a three-year vesting schedule. Additionally, three employees received 200,000 performance stock awards (PSUs) that will vest based on performance criteria over five years. Quantum's technology aids in managing unstructured data, serving various industries.
Quantum Corporation (NASDAQ: QMCO) reported fiscal Q3 2021 results, achieving revenue of $98.0 million, a 14% sequential increase, exceeding guidance of $91-95 million. The gross margin was 43.1%, with a GAAP net loss of $2.7 million or ($0.07) per share. Notably, non-GAAP adjusted net income reached $0.01 million, showing improvement over the previous quarter. The company also introduced new products and acquired Square Box Systems, enhancing software offerings. For Q4, Quantum expects revenues of approximately $98 million with breakeven net income.
Quantum Corp (NASDAQ: QMCO) announced the launch of its new H2000 Series hybrid storage arrays, enhancing performance and scalability for data-intensive workflows. These systems utilize both SSD and HDD technologies, optimizing cost and effectiveness for various business applications. The H2000 Series integrates seamlessly with Quantum's StorNext File System, improving productivity for users. This launch follows Quantum's subscription-based software strategy announced in November 2020, reinforcing its commitment to delivering cutting-edge solutions for unstructured data management.
Quantum Corporation (NASDAQ: QMCO) will release its financial results for the third fiscal quarter ended December 31, 2020, on January 27, 2021, after market close. CEO Jamie Lerner and CFO Mike Dodson will discuss the results in a conference call at 4:30 p.m. ET. Analysts and investors can join using the provided dial-in numbers or via webcast. A replay will be available for two hours post-call and accessible until February 3. Quantum, known for its data capture and preservation solutions, was added to the Russell 2000® Index in 2020.
Quantum Corp. (NASDAQ: QMCO) has joined the DNA Data Storage Alliance, aiming to enhance the future of DNA data storage. This partnership supports the development of a commercial archival storage system, crucial for managing the escalating volumes of digital data. Quantum, renowned for its vast digital archives, believes DNA storage can provide a stable and durable format for data preservation, with estimates suggesting that by 2024, 30% of digital businesses will require DNA storage trials. The alliance seeks to promote awareness and adoption of this innovative technology.
Quantum Corporation (NASDAQ: QMCO) announced its participation at the 23rd Annual Needham Growth Conference on January 13-14, 2021. Both Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO, will represent the company at this virtual event. Portfolio managers and analysts interested in meetings with management can contact conferences@needhamco.com. Quantum specializes in technology and services that help customers manage digital content, enhancing performance for sectors including entertainment and cloud services.
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