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 Nov. 17, 2020, Quantum Corp. (NASDAQ: QMCO) announced the launch of StorNext 7, featuring the new File System Pools to enhance data management across NVMe and HDD storage. This version aims to provide high-throughput and low-latency performance, particularly for video workflows. The user interface has been redesigned for ease of use, and a simplified capacity-based licensing model has been introduced. Key developments include new web services APIs and a focus on optimizing storage solutions to manage the growing data landscape efficiently.
Quantum Corp. (NASDAQ: QMCO) launched its new data management platform, All-Terrain File System (ATFS), on November 12, 2020. This innovative network-attached storage solution integrates real-time data classification for improved resource allocation and management in both local and cloud environments. ATFS addresses challenges such as ineffective data management and storage resource optimization, enhancing performance and reducing costs. It is available for order starting this December. The platform aims to streamline workflows in various sectors, including media, finance, and life sciences.
Quantum Corp. (NASDAQ: QMCO) announced the expansion of its solutions portfolio aimed at enhancing the management and protection of unstructured data. Key additions include the Quantum ATFS, a new file-based storage platform with integrated data classification; the latest version of Quantum StorNext® 7 File System, optimized for high-throughput workloads; and an expanded ActiveScale™ Object Storage offering. These solutions will be showcased during the upcoming VirtualQ I Transform events on November 17 and 19, reinforcing Quantum's commitment to delivering effective unstructured data solutions.
Quantum Corporation (NASDAQ: QMCO) reported a revenue of $85.8 million for Q2 FY2021, a 19% decline year-over-year. Despite this, the company exceeded its revenue guidance. Gross margin improved to 45.1%, with a net loss of $4.6 million or $(0.11) per diluted share. Adjusted EBITDA was $8.9 million, down from $12.7 million in the prior year. The company anticipates Q3 revenue between $93 million and $95 million, with an adjusted net loss forecast of $(1 million).
Quantum Corp. (NASDAQ: QMCO) announced that its StorNext® file system won the 2020 NAB Show Product of the Year Award in the Storage category, highlighting the company's focus on innovation in managing video data. This follows the release of StorNext 6.4, which enhances performance for cloud data management, essential for the media industry. Earlier this year, Quantum also received a Technology & Engineering Emmy® Award, reaffirming its role in advancing data management technologies.
Quantum Corporation (QMCO) will announce its financial results for the second fiscal quarter ending September 30, 2020 on October 28, 2020, post-market. The company will host a conference call at 4:30 p.m. ET to discuss the results, available via dial-in and webcast. Quantum provides technology and services for digital content management, catering to various sectors including entertainment and IoT. Recently, it was added to the Russell 2000® Index. For more information, visit www.quantum.com.
Quantum Corp. (NASDAQ: QMCO) announced that Noemi Greyzdorf, its director of product marketing, will participate in a panel discussion titled "Managing Unstructured Data to Unlock Enterprise Value" on October 20, 2020. This event highlights Quantum's leadership in managing unstructured data, complemented by the introduction of ActiveScale object storage software earlier this year. The panel will explore the significance of unstructured data in driving enterprise value, emphasizing the necessity for organizations to rethink data storage and analytics.
Quantum Corp. (NASDAQ: QMCO) announced the deployment of its storage solutions by Studio FAMU, enhancing their storage capabilities for high-resolution video projects. This includes the StorNext scale-out file storage and Scalar tape archive, enabling centralized management and long-term preservation of student projects. With an initial capacity of 2 PB, the solution allows easy remote access for students and faculty, seamlessly integrated with Media Asset Management systems. The implementation aids in safeguarding projects and teaching storage discipline, crucial during the pandemic.
Quantum Corp. (NASDAQ: QMCO) announced an expansion of its ActiveScale object storage solution by Genomics England, which now supports up to 100 PB of genomic data. This upgrade enhances their capability to analyze genomes, especially to assist in COVID-19 research. Genomics England has significantly reduced storage costs by 75% per genome and is projected to reduce costs by 96% by 2023. The storage solution provides high data durability and simplifies access for over 3,000 researchers, addressing the limitations of their previous NAS system.
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