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) provides innovative data management solutions for enterprises managing large-scale unstructured data. This news hub delivers official updates and analysis on Quantum's strategic initiatives, financial performance, and technological advancements.
Investors and industry professionals will find timely updates including earnings reports, product launches, strategic partnerships, and leadership developments. Our curated collection ensures access to verified information about Quantum's scale-out storage solutions, archive technologies, and data protection systems.
Bookmark this page for structured insights into Quantum's progress across media, healthcare, and research sectors. Check regularly for updates on software-defined storage innovations and enterprise data management trends directly affecting QMCO's market position.
Quantum Corporation (Nasdaq: QMCO) announced a rights offering for holders of common stock and certain warrants, record date March 25, 2022. Each holder will receive subscription rights to buy approximately 0.4226 shares at $2.25 each, potentially generating around $67.5 million in gross proceeds. The offering includes an over-subscription feature, and an Investment Commitment Agreement with Neuberger Berman is in place for $53.5 million. Proceeds are intended for working capital and debt repayment. The offering will be registered with the SEC.
Quantum Corporation (NASDAQ: QMCO) has announced the launch of its Unified Surveillance Platform (USP) and Smart Network Video Recording Servers (NVRs) to enhance video surveillance solutions. The USP consolidates video recording infrastructure, reduces total cost of ownership, and offers flexibility in hardware choice for security integrators. Meanwhile, the Smart NVRs enable the running of multiple applications on a single server, further streamlining operations. These innovations are aimed at broadening Quantum's offerings and improving efficiencies in video data management.
Quantum Corporation (NASDAQ: QMCO) has introduced the Scalar i6H, a new tape storage system specifically engineered for hyperscale archive environments. Designed in collaboration with leading hyperscalers, it boasts best-in-class storage density and ease-of-use. The modular system, which can be shipped fully assembled, is geared towards web-scale companies aiming to build private clouds. Notably, it includes anti-ransomware features to enhance cybersecurity. The Scalar i6H exemplifies Quantum's commitment to advancing its position in hyperscale cloud infrastructure.
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.
