QUMU - QUMU STOCK NEWS

Qumu Corporation has appointed Tom Krueger as its new Chief Financial Officer, effective December 6, 2021. Krueger brings over 20 years of finance experience from notable companies such as Khoros, Meltwater, and Salesforce. His expertise in managing finance for SaaS organizations is expected to be pivotal as Qumu transitions to a SaaS-first model. The company aims to enhance its growth trajectory and establish itself as a profitable player in the cloud-based video technology sector.

Qumu Corporation (Nasdaq: QUMU) reported a 19% increase in Subscription ARR, reaching $13.1 million for Q3 2021, driven by strategic partnerships and enhanced customer engagement.

Q3 revenue grew 10% to $6.4 million, with a gross margin improvement to 76%. The company achieved a 94% Gross Renewal Rate and a 119% Net Renewal Rate. Notably, operating expenses decreased by 9%, enhancing cash flow.

Despite a net loss of $(3.7) million, the outlook remains positive, aiming for continued SaaS revenue growth.

Qumu Corporation (NASDAQ: QUMU) has partnered with Speaker Dynamics to provide online speaker training for enterprise video customers. This training, available through the Speaker Dynamics University, aims to enhance communication skills on camera, a crucial requirement in today's corporate video-centric world. The Qumu Video Engagement Platform will now include this training option, designed to help users effectively convey messages and engage audiences. The initiative reflects Qumu's commitment to empowering enterprises with effective video communication tools.

Qumu Corporation has partnered with TD SYNNEX to distribute its Video Engagement Platform through TD SYNNEX's network of over 150,000 resellers. This partnership aims to meet the growing demand for scalable and secure enterprise video solutions, enabling organizations to enhance communication and collaboration. TD SYNNEX, a leader in IT distribution, will leverage its reseller market expertise to drive technology adoption among enterprise clients. The initiative aligns with Qumu's strategic goal of expanding its channel program and provides resellers with a competitive video technology offering.

Qumu Corporation (NASDAQ: QUMU) will hold a conference call on October 28, 2021, at 4:30 p.m. ET to discuss its third-quarter financial results for the period ending September 30, 2021. The call will include an executive management presentation followed by a Q&A session. Investors can join via dial-in or through a webcast available on the Qumu investor relations website, which will also archive the session for one year.

Qumu Corporation (NASDAQ: QUMU) has launched a new feature called Moderated Q&A, enhancing its Video Engagement Platform. This cloud-based widget allows viewers to ask questions before, during, and after live video events, fostering increased interaction and engagement. The tool enables event hosts to prepare by analyzing audience questions in advance, tailoring content to audience interests. This addition aims to improve communication and collaboration within organizations, helping to modernize the way businesses engage with their audiences.

iA has announced a new executive leadership team to enhance customer experience and address increased market demand amid COVID-19. Key appointments include Dave Ristow as CFO, formerly of Qumu (Nasdaq: QUMU), Tim Canning as Chief Revenue Officer, and Ryan Bingham as Group President of Systems Integration. iA is reorganizing into two divisions to focus on pharmacy fulfillment solutions and improve patient services. The company aims to drive growth and efficiency through its Pharmacy Fulfillment by iA offering.

Qumu Corporation (NASDAQ: QUMU) announced that CFO Dave Ristow will resign effective September 10, 2021, to pursue another opportunity in the pharmaceutical sector. Matt Walker, the corporate controller, will take over as interim CFO. Ristow's tenure included successful equity raises and debt reduction, contributing to Qumu's transformation into a SaaS-focused business. The company also plans to engage Mark Culhane as a consultant to support its SaaS strategy.

Qumu Corporation (Nasdaq: QUMU) has launched on-demand video transcriptions and AI-powered automatic captioning for its video platform. These features enhance content consumption options, facilitating knowledge transfer and improving video accessibility. Transcriptions enable users to quickly skim for important details, while automatic captions build upon previously introduced live captioning. The initiatives aim to boost workplace productivity and adapt to the evolving needs of employees managing back-to-back meetings.