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Qumu Corporation (Nasdaq: QUMU) has announced the launch of customer-defined encryption keys for its video platform, enhancing user control and security for video content. This feature complements existing automatic encryption and is designed to meet various industry regulations and internal policies. The move is particularly relevant in the context of increasing remote work and regulatory changes. Qumu aims to provide multi-layered security solutions, empowering organizations across sectors like financial services and healthcare to securely deliver video content at scale.
Qumu Corporation (Nasdaq: QUMU) has announced a strategic partnership with JS Group to launch a global channel program aimed at enhancing market penetration for its cloud-based enterprise video technology. The partnership aims to provide partner incentives, operational support, and a market development fund to connect with a wider range of channel partners. With the growing demand for enterprise video solutions due to remote work trends, this collaboration is set to expand Qumu's reach and expedite its digital transformation initiatives.
Qumu Corporation (Nasdaq: QUMU) reported its Q2 2021 results, revealing revenue of $5.9 million, up slightly from Q1 2021. Subscription revenue rose 9% to $5.1 million, contributing to a gross margin improvement to 74%. SaaS Annual Recurring Revenue surged 28% to $12.4 million. Despite this growth, the net loss widened to $(4.3) million due to strategic investments. The company is focused on transforming into a SaaS-first organization, with leadership changes and cost-optimization initiatives underway. Qumu maintains a robust cash position of $21.3 million.
Qumu Corporation (Nasdaq: QUMU) has appointed Andi Mann as its new chief technology officer. Mann, with over 30 years of experience in digital transformation from companies like Splunk and CA Technologies, will lead Qumu's technology team to enhance its enterprise video technology, focusing on advanced video analytics and cloud security. CEO TJ Kennedy highlighted Mann's expertise in cloud-based technology as vital for Qumu's growth in video content management and distribution. Mann aims to help organizations realize the full potential of enterprise video in today's digital landscape.
Qumu Corporation (Nasdaq: QUMU) is set to hold a conference call on July 29, 2021, at 4:30 p.m. Eastern Time to discuss its financial results for Q2 2021, ending June 30, 2021. A press release detailing these financial results will be issued prior to the call. Investors can participate via a U.S. dial-in number or an international dial-in. Additionally, the call will be accessible via a live webcast, which will be archived on Qumu's website for one year. Qumu specializes in cloud-based enterprise video technology, aiming to enhance workplace video engagement.
Qumu Corporation (Nasdaq: QUMU) and Socialive have launched a new SaaS video streaming integration aimed at enhancing video content creation for businesses of all sizes. This partnership combines Qumu's enterprise-grade video capabilities with Socialive's intuitive tools, allowing users to produce, manage, and deliver high-quality video content seamlessly. The integration supports a variety of video content types and enhances user engagement in hybrid work environments. This strategic move responds to the increasing demand for secure, scalable video solutions.
Qumu Corporation (Nasdaq: QUMU) has partnered with Socialive to launch a new SaaS video streaming integration, enhancing video content creation and management for businesses. This integration allows users to produce scalable, studio-quality videos, stream them, and analyze viewer engagement—all from the Qumu interface. The collaboration aims to meet the rising demand for secure, high-quality video in today's hybrid work environment, enabling businesses to create and distribute various video content types efficiently.
Qumu Corporation (Nasdaq: QUMU) reported preliminary financial results for Q2 2021, projecting revenue between $5.7 million and $5.9 million, a decline from $9.3 million in Q2 2020. Subscription, maintenance, and support revenue is expected to range from $4.9 million to $5.1 million, with an annual recurring revenue (ARR) of $12.0 million to $12.2 million. The company anticipates a net loss of $(4.9) million to $(4.3) million. Despite challenges in transforming its sales approach, Qumu aims to maximize subscription revenue and achieve long-term growth.
Qumu Corporation (Nasdaq: QUMU) announced a partnership with the Birmingham County Football Association (BCFA) to enhance video engagement and tracking capabilities for grassroots football in the West Midlands. This initiative will provide on-demand video content to around 70,000 players and 25,000 volunteers across 1,200 clubs. BCFA aims to deliver information on safeguarding policies and administrative tasks while leveraging Qumu's video on demand capabilities for effective content distribution and tracking.
Qumu Corporation (Nasdaq: QUMU) has introduced 360° video on demand (VOD) to its Video Engagement Platform, enhancing the creation of immersive video content for better employee and customer engagement. This feature allows organizations to produce richer content, aiding industries like manufacturing and healthcare in reducing the need for in-person interactions. Importantly, this capability is available to all Qumu Cloud customers who have a 360-degree camera, at no extra cost, seamlessly integrating into existing workflows.
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