QUMU - QUMU STOCK NEWS

Qumu Corporation (NASDAQ: QUMU) has announced a partnership with Proprep to enhance e-learning for STEM students globally. The Qumu Video Engagement Platform will provide Proprep with centralized video management and distribution capabilities, improving access to over 12,000 video tutorials across more than 3,500 college-level courses. This collaboration aims to minimize latency and ensure high-quality content delivery, ultimately helping students improve their understanding and performance in STEM subjects. Proprep currently serves over 500,000 subscribers worldwide.

Qumu Corporation (NASDAQ: QUMU) has been recognized in the top right quadrant of Wainhouse Research’s vendor landscape for behind-the-firewall streaming solutions. This marks the seventh consecutive time Qumu has achieved this status. The report highlights Qumu as a leader in enterprise video technology, with clients creating over 10,000 videos per month and achieving more than 7 million views monthly. CEO Rose Bentley noted the critical role video plays in digital transformation amid ongoing global challenges.

Qumu Corporation held its 2022 Annual Meeting of Shareholders on June 2, 2022, with approximately 77.5% of shares represented. All director nominees were elected, and significant proposals were approved, including executive compensation and an amendment to the stock incentive plan increasing share issuance by 1,200,000. A shareholder proposal for engaging an investment bank to sell Qumu received 52% approval. Chairman Neil Cox expressed gratitude to shareholders for their input, emphasizing the board's commitment to maximizing long-term value.

Qumu Corporation (Nasdaq: QUMU) reported a 15% increase in SaaS revenue for Q1 2022, totaling $2.7 million, and a 10% rise in SaaS Annual Recurring Revenue (ARR) to $13.0 million. SaaS revenue represented 54% of total revenue. Despite a decrease in overall revenue to $4.9 million and a net loss of $(4.6) million, operational highlights include partnerships with AT&T and LiveU, as well as a new CEO appointment. The company anticipates continued growth as it shifts towards a subscription-based model, bolstered by a robust cash position of $15.5 million.

Qumu Corporation (NASDAQ: QUMU) will hold a conference call on May 12, 2022, at 4:30 p.m. Eastern Time, to discuss financial results for the first quarter ending March 31, 2022. A press release detailing the financial results will be issued prior to the call. Investors can join the call via dial-in or access a webcast through the Qumu investor relations website. The webcast will be archived for one year. Founded to provide enterprise video technology, Qumu focuses on enhancing engagement and modernizing workplace communication.

Qumu Corporation (NASDAQ: QUMU) has partnered with F33.ai to enhance its visibility in the Google Cloud Marketplace. This collaboration aims to boost Qumu's Video Engagement Platform awareness among enterprise customers. The partnership will streamline procurement processes for organizations seeking integrated solutions for their video needs. Qumu's existing relationship with Google Cloud underpins this effort, positioning the company to better serve future customer demands in a rapidly evolving digital landscape.

Qumu Corporation (QUMU) has appointed Rose Bentley as President and CEO, effective April 16, 2022, succeeding TJ Kennedy, who is transitioning to a new role in public safety. Bentley, previously COO since March 2021, has been instrumental in driving partner-led sales and increasing revenue by 25% year-over-year in 2021. The board expresses confidence in Bentley's leadership to scale cloud offerings and enhance SaaS revenue growth. The press release emphasizes the growing demand for enterprise video solutions amidst the rise of remote and hybrid work.