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) 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.
Quantum Corporation (NASDAQ: QMCO) will host a Virtual Analyst Day on November 9, 2021, at 8:00 AM PT. The event, led by CEO Jamie Lerner and CFO Mike Dodson, will focus on Quantum's long-term strategy and transition to a software-oriented business model. Additionally, Eric Burgener from IDC will present insights on the industry. Attendees can access the live webcast on Quantum's investor relations page.
Quantum Corporation (NASDAQ: QMCO) has announced a partnership with IBM to develop the next generation of LTO technology. This collaboration aims to enhance LTO-10 tape drives and media, improving capacity and performance while accelerating time-to-market. The specific terms of the agreement remain confidential. CEO Jamie Lerner emphasized the importance of LTO technology, especially amid increasing data growth and ransomware threats. Quantum aims to solidify its position in the market by providing low-cost, ultra-secure data storage solutions.
Quantum Corporation (NASDAQ: QMCO) will release its financial results for the second fiscal quarter ending September 30, 2021, on November 3, 2021, after market close. The announcement includes a conference call at 5:00 p.m. ET, featuring CEO Jamie Lerner and CFO Mike Dodson. Analysts and investors can join by calling 1-866-424-3436 or via international number +1-201-689-8058, using passcode 13724393. A replay will be accessible for a week following the call. Quantum operates in data management and solutions, focusing on video and unstructured data enhancements.
Quantum Corporation (NASDAQ: QMCO) announced the launch of the Quantum CatDV 2021 Platform Update, featuring significant enhancements for agile content production teams. Key improvements include a new review and approval workflow, real-time messaging, and clip stacking meta-folders for better content organization. The update also integrates with Quantum's Collaborative Workflow Solution and NVIDIA GPU-based transcoding for optimized performance. Customers can deploy these solutions in the cloud or on-premises, with support for various media formats and faster file operations.
Quantum Corporation (NASDAQ: QMCO) has launched the Quantum Collaborative Workflow Solution, optimized for Adobe Premiere Pro users. This integrated system addresses remote editing challenges for creative teams, offering a high-performance shared environment combined with asset management through CatDV. The solution provides customizable archiving options, including Quantum Scalar Tape and ActiveScale, ensuring project protection and easy access to assets. Quantum's partnership with Adobe emphasizes the importance of seamless integration for enhanced productivity in creative workflows.
On Oct. 5, 2021, Quantum Corporation (QMCO) unveiled two innovations: ActiveScale Cold Storage and new Object Storage Services, designed for efficient data management. ActiveScale Cold Storage offers low-cost, durable, cloud-compatible storage for inactive data, reducing cold storage costs by 80%. These solutions aim to help organizations face the growing volume of cold data, with an expected 30% annual growth in enterprise storage needs. The products will be available in Q1 2022, enhancing customer control over data and promoting digital transformation.
Quantum Corporation (NASDAQ: QMCO) has appointed Emily White to its Board of Directors, enhancing its expertise in data management and analytics. White, currently at NIKE, brings substantial experience in enterprise data and analytics. Her role is critical as Quantum aims to expand its solutions portfolio and strengthen its software capabilities. The company positions itself to aid organizations in efficiently managing unstructured data, supporting its growth as a global company.
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