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.
Quantum Corporation (NASDAQ: QMCO) announced that James Mundle, its Global Channel Chief, has been named a 2022 Channel Chief by CRN for the second consecutive year. This recognition highlights Mundle's expertise and contributions to the channel partner community, particularly through the Quantum Alliance program, which was awarded a 5-Star rating by CRN for its extensive support and resources available to partners. Mundle emphasized Quantum's commitment to enhancing partner profitability and success in a rapidly evolving industry.
Quantum Corporation (NASDAQ: QMCO) reported a fiscal Q3 2022 revenue of $95.3 million, up 2% sequentially. Backlog hit a record $62 million, driven by a 30% increase in subscription customers. However, the company faced supply chain constraints, impacting revenue growth. Gross profit was $35.2 million, a 37% margin, while total operating expenses rose to $42.4 million. The GAAP net loss was $11.1 million, or ($0.19) per share. Looking ahead, Quantum expects Q4 revenues between $92 million and $97 million.
Quantum Corporation (NASDAQ: QMCO) will release its financial results for the third fiscal quarter ended December 31, 2021, on February 9, 2022. A conference call led by CEO Jamie Lerner and CFO Mike Dodson is scheduled for 5:00 p.m. ET. Investors can access the call via phone or webcast, with a replay available until February 16, 2022. Quantum focuses on technology solutions for managing unstructured data, serving various sectors including cloud services and entertainment. The company is traded on Nasdaq and is part of the Russell 2000 Index.
Quantum Corporation (NASDAQ: QMCO) is enhancing autonomous vehicle research at the Center for Advanced Vehicular Systems (CAVS) at Mississippi State University. Their R-Series Edge Storage solution supports the collection and analysis of large data volumes generated by vehicles. CAVS estimates that by 2030, 20% of new cars will feature Level 3 autonomy, producing up to 10TB of data daily. This partnership is essential for developing navigation software and validating algorithms for military and various sectors, underscoring the significance of reliable data storage in the growing autonomous vehicle market.
Quantum Corporation (NASDAQ: QMCO) has released an update to its VS-HCI Series Acuity software platform, version 10.9, enhancing mission-critical video surveillance systems. The update introduces features like automated system health checks, faster drive rebuilds, improved disk drive analytics, and enhanced AI for predictive drive management. These advancements aim to increase system availability, simplify management, and reduce overall costs. The platform is designed for organizations needing reliable video surveillance capabilities.
Quantum Corporation (NASDAQ: QMCO) has launched the DXi V5000 virtual backup appliance and its free DXi V5000 Community Edition, designed to simplify data protection for small businesses and remote sites. The DXi V5000 allows for easy deployment as a virtual machine with features like scalable capacity from 5 to 256 TB and advanced deduplication technology. The Community Edition lets users protect up to 100 TB of data for free, fostering broader access to Quantum's solutions. Users can seamlessly transition from the Community Edition to a full DXi V5000 subscription.
Quantum Corporation (NASDAQ: QMCO) has achieved the AWS Outposts Ready designation for its ActiveScale object storage solution, enabling integration with AWS services in on-premises environments. This validated solution allows enterprise organizations to maintain data sovereignty while benefitting from a hybrid cloud strategy. ActiveScale provides Amazon S3 compliant storage, efficient data protection, consistent performance, and a low total cost of ownership. The certification positions Quantum to meet the growing demands for effective data management across various industries.
Quantum Corporation (NASDAQ: QMCO) reported a 9% revenue growth, reaching $93.2 million for Q2 FY2022, exceeding guidance. However, the company faced a GAAP net loss of $9.3 million or ($0.16) per share. Backlog increased to $50 million, up from $30 million in the previous quarter. Adjusted EBITDA was $5.3 million, also above guidance. The acquisition of EnCloudEn aims to enhance the software revenue model. Future guidance estimates revenues between $380-$420 million for FY2022, contingent on supply chain improvements.
Quantum Corporation (QMCO) has unveiled Scalar® Ransom Block, an innovative feature designed to protect data from ransomware and cyber threats. This patent-pending solution creates a hardware barrier between stored data on tapes and network-connected devices, ensuring data integrity even if the tape library is compromised. The Scalar Ransom Block can be initiated remotely, enhancing security without requiring physical interaction with tapes. Other innovations include Logical Tape Blocking, further securing data during loading processes. Both features enhance Quantum's Scalar Security Framework and will be available on new Scalar i6 and i3 tape libraries starting December 2021.
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