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Qumu Reports Fourth Quarter and Full Year 2021 Financial Results

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Qumu Corporation (QUMU) has reported a 35% increase in SaaS revenue, reaching $10.2 million for 2021, and a 16% growth in SaaS Annual Recurring Revenue (ARR) to $12.8 million. Despite a net loss of $(16.4 million) for the year, the company is seeing positive momentum with 90% Gross Retention Rate and 114% Net Retention Rate. The leadership is optimistic, setting a goal for SaaS recurring revenue to reach 65% by the end of 2022. Cash and equivalents stood at $20.6 million at year-end.

Positive
  • SaaS revenue grew by 35% to $10.2 million in 2021.
  • SaaS ARR increased 16% to $12.8 million.
  • Gross margin improved to 74% in 2021 from 71% in 2020.
  • Overall operating expenses decreased by 4% in Q4 2021 compared to Q3 2021.
  • Achieved a 40% CAGR in SaaS ARR from 2019 to 2021.
Negative
  • Net loss increased to $(16.4 million) in 2021 from $(9.2 million) in 2020.
  • Revenue for full year 2021 declined to $24 million from $29.1 million in 2020.
  • Adjusted EBITDA loss widened to $(15.2 million) in 2021 from $(2.3 million) in 2020.
  • Revenue for Q4 2021 was $5.9 million, lower than $6.9 million in Q4 2020.

Continued Execution of Cloud Growth Strategy Drives 35% Increase in SaaS Revenue and 16% Increase in SaaS Annual Recurring Revenue (ARR)

MINNEAPOLIS--(BUSINESS WIRE)-- Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology, today reported financial results for the fourth quarter and full year ended December 31, 2021.

Q4 2021 and Recent Operational Highlights

  • Recognized by Aragon Research in the “Leader” category of the 2022 Aragon Research Globe for Enterprise Video.
  • Partnered with Kollective, a provider of enterprise content delivery networking, and introduced the new Qumu Partner Program to meet growing enterprise video needs of global organizations.
  • Unveiled the latest capabilities for the Qumu Video Engagement Platform that provides system administrators with improved monitoring and management capabilities.
  • Named a finalist in the 2021-2022 Cloud Awards, the international cloud computing awards program.
  • Strengthened the leadership team with the appointment of Tom Krueger as the company’s new CFO to drive success of Qumu’s continued SaaS transformation.
  • Partnered with GovSmart to bring Qumu’s Video Engagement Platform to government agencies as they work to modernize IT systems and communicate via video with their wide networks.

Q4 2021 and Full Year 2021 Financial Highlights

  • Software-as-a-Service (SaaS) ARR growth from 2019 to 2021 resulted in a 40% compound annual growth rate (CAGR).
  • SaaS revenue increased 35% to $10.2 million in 2021, compared to $7.6 million in 2020.
  • SaaS Annual Recurring Revenue (SaaS ARR) grew to $12.8 million, up 16% year-over-year.
  • Q4 2021 operating expenses decreased 4% compared to Q3 2021.
  • $20.6 million of cash and cash equivalents at quarter end.

Q4 2021 Key Performance Indicators

  • SaaS revenue accounted for 56% of recurring revenue, exceeding the company’s guidance of 50% for 2021.
  • SaaS ARR increased 16% to $12.8 million in Q4 2021 from $11.1 million in Q4 2020.
  • SaaS customer retention metrics:
    • Gross Retention Rate (GRR): 91% at end of Q4 2021 compared to 80% at end of Q4 2020.
    • Net Retention Rate (NRR): 114% at end of Q4 2021 compared to 141% at end of Q4 2020.

Management Commentary

“Our results for the fourth quarter and full year demonstrate the continued execution of our strategic roadmap, which emphasizes growing our cloud business and scaling our SaaS revenue base,” said Qumu President and CEO TJ Kennedy. “Highlighting this success is the 35% SaaS revenue growth we delivered in 2021, bringing our total SaaS revenue to a record $10.2 million at year end. Additionally, SaaS revenue accounted for 56% of our recurring revenue and 48% of our total revenue in Q4 2021, with the percent of total recurring revenue metric exceeding our guidance for the year-end and giving us encouraging momentum as we begin 2022. SaaS annual recurring revenue also grew by 16% in 2021, bringing the growth rate for SaaS ARR over the last two years to 40%, which we expect to serve as a strong benchmark going forward.”

Qumu CFO Tom Krueger commented: “As expected, our overall topline was down for the year, which was a direct result of certain legacy, on-prem contracts sunsetting as we focus our attention on higher margin, recurring revenue deals. Our partner-led sales motions and customer success efforts are gaining momentum and driving new customers, deeper relationships, and cloud conversions. In 2021, we completed five on-prem to SaaS conversions and expect to complete a similar number this year. Partner generated revenue grew 25% compared to 2020 and accounted for more than 30% of our total revenue in 2021. Looking at our costs, the optimization measures we implemented in the second half of 2021 have made us a more nimble and efficient organization, reflected by strong margins and reduced operating expenses, which we expect to further reduce in 2022.”

Kennedy continued: “2021 was a transformative year for our organization, and I am incredibly proud of what the team accomplished. We scaled our cloud offerings, expanded our partner network, converted key on-prem customers, and delivered robust SaaS revenue growth, all of which allowed us to enter 2022 with solid momentum.

“Looking ahead, the progress we’re making with partners and strategic alliances is gaining traction, which we believe will translate to even more results starting in the second quarter of this year. As we continue to transform our business, we are focused on delivering robust SaaS revenue growth, which will be driven by new customer and expansion bookings sourced through the channel in 2022. Based on our success driving SaaS revenue and ARR in 2021, we are increasing our goals for 2022. We now expect our SaaS recurring revenue as a percentage of our recurring revenue to be at least 65% by the end of 2022 and 75% by the end of 2023. Longer term, we are confident that Qumu will emerge as a subscription-driven growth company operating at scale, benefiting from high-margin recurring revenues, sustainable and growing cash flow and Adjusted EBITDA and net income profitability.”

Fourth Quarter 2021 Financial Results

Revenue for Q4 2021 was $5.9 million, compared to $6.4 million in Q3 2021 and $6.9 million in Q4 2020. The year-over-year decrease was expected and due to the company’s strategic shift away from perpetual license sales, where revenue is recognized upon delivery, and toward SaaS sales, which results in ratable recognition of revenue through subscription terms.

Service revenue for Q4 2021 was $5.8 million, compared to $5.7 million in Q3 2021 and $6.1 million in Q4 2020. The year-over-year decrease resulted from customer contracts sunsetting, impacting maintenance revenue associated with the company’s on-premise solution.

Gross margin in Q4 2021 was 75%, compared to gross margin of 76% for both Q3 2021 and Q4 2020. The gross margin percentage was impacted by lower overall revenue relative to the comparative periods.

Net loss in Q4 2021 totaled $(3.8) million, or $(0.21) loss per basic and diluted share. This compares to net loss of $(3.7) million, or $(0.21) loss per basic and diluted share, for Q3 2021 and net loss of $(4.0) million, or $(0.29) loss per basic and diluted share, in Q4 2020.

Adjusted EBITDA loss, a non-GAAP measure, in Q4 2021 was $(3.1) million, compared to $(3.5) million in Q3 2021 and $(1.1) million in Q4 2020.

As of December 31, 2021, the company had cash and cash equivalents of $20.6 million and borrowings of $5.0 million on the company’s revolving credit facility.

Full Year 2021 Financial Results

Revenue for full year 2021 was $24.0 million, compared to $29.1 million in full year 2020. The decrease was expected and due to a large on-premise deal recognized in 2020 as well as the company’s strategic shift away from perpetual license sales, which revenue is recognized upon delivery, and toward SaaS sales, which results in ratable recognition of revenue through subscription terms.

Service revenue for full year 2021 was $22.8 million, compared to $21.5 million in 2020. The year-over-year increase resulted from shifting customers to the cloud and growing SaaS ARR and SaaS revenue.

Gross margin in 2021 was 74%, an improvement from gross margin of 71% for 2020.

Net loss in 2021 totaled $(16.4) million, or $(0.93) loss per basic and $(1.01) loss per diluted share. This compares to net loss of $(9.2) million, or $(0.68) loss per basic and $(0.70) loss per diluted share in 2020.

Adjusted EBITDA loss, a non-GAAP measure, in 2021 was $(15.2) million, compared to $(2.3) million in 2020.

Business Outlook

Qumu provides guidance based on current market conditions and expectations. The company emphasizes that its guidance is subject to various important cautionary factors referenced in the section entitled "Forward-Looking Statements" below, including risks and uncertainties associated with the company’s strategic plan, transition to SaaS recurring revenue through channel partners, and the COVID-19 pandemic, such as trends in distributed remote and hybrid work impacting enterprise technology adoption and procurement.

To give insight into the progress of Qumu’s SaaS business transformation, the company provides a business outlook based on the percentage of recurring revenue comprised of SaaS revenue. Qumu management now expects that SaaS recurring revenue will comprise approximately 65% of its overall recurring revenue mix by the end of 2022, with targeted growth to approximately 75% of recurring revenue mix by the end of 2023.

Conference Call

Qumu executive management will host a conference call today (March 17, 2022) at 4:30 p.m. Eastern time.

U.S. Dial-In Number: +1.833.644.0679
International Dial-In Number: +1.918.922.6755

Investors can also access a webcast of the live conference call by linking through the investor relations section of the Qumu website at https://ir.qumu.com. The webcast will be archived on Qumu’s website for one year.

Non-GAAP Information

To supplement the company's condensed consolidated financial statements presented on a GAAP basis, the company uses Adjusted EBITDA, a non-GAAP measure, which excludes certain items from net loss, a GAAP measure. Adjusted EBITDA excludes items related to interest income and expense, the impact of income-based taxes, depreciation and amortization, stock-based compensation, change in fair value of derivative and warrant liabilities, foreign currency gains and losses, other non-operating income and expenses, and transaction-related expenses.

The company uses both GAAP and non-GAAP measures when planning, monitoring, and evaluating the company’s performance. The company believes that Adjusted EBITDA is useful to investors because it provides supplemental information that allows investors to review the company's results of operations from the same perspective as management and the company's board of directors. Non-GAAP results are presented for supplemental informational purposes only for understanding our operating results. The non-GAAP results should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies.

See the attached Supplemental Financial Information for a reconciliation of net loss, a GAAP measure, to Adjusted EBITDA, a non-GAAP measure, for the three months and year ended December 31, 2021 and 2020.

About Qumu

Qumu (Nasdaq: QUMU) is a leading provider of best-in-class tools to create, manage, secure, distribute and measure the success of live and on-demand video for the enterprise. The Qumu Cloud platform enables global organizations to drive human engagement, increase access to and insights from video use, and modernize the workplace by providing a more efficient and effective way to share knowledge.

Forward-Looking Statements

This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” or “estimate” or comparable terminology are intended to identify forward-looking statements. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements.

Such forward-looking statements include, for example, statements about: the expected use and adoption of video in the enterprise, the impact of COVID-19 on the use and adoption of video in the enterprise, the company’s future revenue and operating performance, cash balances, future product mix or the timing of recognition of revenue, the demand for the company’s products or software, or the success of go-to-market strategies or the other initiatives in the company’s strategic plan. The risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements include the risk factors described in the company’s Annual Report on Form 10-K for the year ended December 31, 2020, and other factors set forth in the company’s filings with the Securities and Exchange Commission.

The forward-looking statements in this press release speak only as of the date of this press release. Except as required by law, Qumu assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future, except as required by law.

QUMU CORPORATION

Condensed Consolidated Statements of Operations

(unaudited - in thousands, except per share data)

 

 

Three Months Ended
December 31,

 

Year Ended
December 31,

 

2021

 

2020

 

2021

 

2020

Revenues:

 

 

 

 

 

 

 

Software licenses and appliances

$

95

 

 

$

811

 

 

$

1,186

 

 

$

7,547

 

Service

 

5,815

 

 

 

6,070

 

 

 

22,836

 

 

 

21,525

 

Total revenues

 

5,910

 

 

 

6,881

 

 

 

24,022

 

 

 

29,072

 

Cost of revenues:

 

 

 

 

 

 

 

Software licenses and appliances

 

32

 

 

 

184

 

 

 

222

 

 

 

2,528

 

Service

 

1,476

 

 

 

1,488

 

 

 

5,946

 

 

 

5,825

 

Total cost of revenues

 

1,508

 

 

 

1,672

 

 

 

6,168

 

 

 

8,353

 

Gross profit

 

4,402

 

 

 

5,209

 

 

 

17,854

 

 

 

20,719

 

Operating expenses:

 

 

 

 

 

 

 

Research and development

 

1,907

 

 

 

2,279

 

 

 

8,426

 

 

 

8,252

 

Sales and marketing

 

4,339

 

 

 

2,612

 

 

 

18,478

 

 

 

9,055

 

General and administrative

 

2,046

 

 

 

3,004

 

 

 

8,596

 

 

 

10,059

 

Amortization of purchased intangibles

 

161

 

 

 

165

 

 

 

649

 

 

 

657

 

Total operating expenses

 

8,453

 

 

 

8,060

 

 

 

36,149

 

 

 

28,023

 

Operating loss

 

(4,051

)

 

 

(2,851

)

 

 

(18,295

)

 

 

(7,304

)

Other income (expense):

 

 

 

 

 

 

 

Interest expense, net

 

(19

)

 

 

(35

)

 

 

(100

)

 

 

(73

)

Decrease (increase) in fair value of derivative liability

 

 

 

 

(1

)

 

 

37

 

 

 

103

 

Decrease (increase) in fair value of warrant liability

 

80

 

 

 

(1,096

)

 

 

1,549

 

 

 

(1,826

)

Gain on sale of BriefCam

 

 

 

 

 

 

 

50

 

 

 

 

Other, net

 

25

 

 

 

(154

)

 

 

2

 

 

 

(406

)

Total other income (expense), net

 

86

 

 

 

(1,286

)

 

 

1,538

 

 

 

(2,202

)

Loss before income taxes

 

(3,965

)

 

 

(4,137

)

 

 

(16,757

)

 

 

(9,506

)

Income tax benefit

 

(116

)

 

 

(159

)

 

 

(392

)

 

 

(306

)

Net loss

$

(3,849

)

 

$

(3,978

)

 

$

(16,365

)

 

$

(9,200

)

 

 

 

 

 

 

 

 

Net loss per share – basic:

 

 

 

 

 

 

 

Net loss per share – basic

$

(0.21

)

 

$

(0.29

)

 

$

(0.93

)

 

$

(0.68

)

Weighted average shares outstanding – basic

 

17,978

 

 

 

13,781

 

 

 

17,514

 

 

 

13,612

 

Net loss per share – diluted:

 

 

 

 

 

 

 

Loss attributable to common shareholders

$

(3,849

)

 

$

(3,978

)

 

$

(17,913

)

 

$

(9,494

)

Net loss per share – diluted

$

(0.21

)

 

$

(0.29

)

 

$

(1.01

)

 

$

(0.70

)

Weighted average shares outstanding – diluted

 

17,978

 

 

 

13,781

 

 

 

17,650

 

 

 

13,627

 

QUMU CORPORATION

Condensed Consolidated Balance Sheets

(unaudited - in thousands)

 

 

December 31,

 

December 31,

Assets

2021

 

2020

Current assets:

 

 

 

Cash and cash equivalents

$

20,563

 

 

$

11,878

 

Receivables, net

 

3,709

 

 

 

5,612

 

Contract assets

 

446

 

 

 

467

 

Income taxes receivable

 

556

 

 

 

479

 

Prepaid expenses and other current assets

 

2,184

 

 

 

2,302

 

Total current assets

 

27,458

 

 

 

20,738

 

Property and equipment, net

 

337

 

 

 

249

 

Right of use assets – operating leases

 

146

 

 

 

332

 

Intangible assets, net

 

1,388

 

 

 

2,143

 

Goodwill

 

7,388

 

 

 

7,455

 

Deferred income taxes, non-current

 

17

 

 

 

19

 

Other assets, non-current

 

362

 

 

 

490

 

Total assets

$

37,096

 

 

$

31,426

 

Liabilities and Stockholders’ Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable and other accrued liabilities

$

2,742

 

 

$

2,705

 

Accrued compensation

 

1,725

 

 

 

2,145

 

Deferred revenue

 

10,862

 

 

 

12,918

 

Operating lease liabilities

 

597

 

 

 

735

 

Financing obligations

 

5,502

 

 

 

406

 

Note payable

 

 

 

 

1,800

 

Derivative liability

 

 

 

 

37

 

Warrant liability

 

801

 

 

 

2,910

 

Total current liabilities

 

22,229

 

 

 

23,656

 

Long-term liabilities:

 

 

 

Deferred revenue, non-current

 

1,507

 

 

 

3,488

 

Income taxes payable, non-current

 

630

 

 

 

608

 

Operating lease liabilities, non-current

 

21

 

 

 

554

 

Financing obligations, non-current

 

113

 

 

 

75

 

Other liabilities, non-current

 

 

 

 

160

 

Total long-term liabilities

 

2,271

 

 

 

4,885

 

Total liabilities

 

24,500

 

 

 

28,541

 

Stockholders’ equity:

 

 

 

Common stock

 

178

 

 

 

138

 

Additional paid-in capital

 

105,655

 

 

 

79,489

 

Accumulated deficit

 

(90,693

)

 

 

(74,328

)

Accumulated other comprehensive loss

 

(2,544

)

 

 

(2,414

)

Total stockholders’ equity

 

12,596

 

 

 

2,885

 

Total liabilities and stockholders’ equity

$

37,096

 

 

$

31,426

 

QUMU CORPORATION

Condensed Consolidated Statements of Cash Flows

(unaudited - in thousands)

 

 

Year Ended
December 31,

 

2021

 

2020

Operating activities:

 

 

 

Net loss

$

(16,365

)

 

$

(9,200

)

Adjustments to reconcile net loss to net cash provided by (used in) operating activities:

 

 

 

Depreciation and amortization

 

983

 

 

 

1,518

 

Loss on disposal of property and equipment

 

5

 

 

 

 

Stock-based compensation

 

2,067

 

 

 

1,178

 

Accretion of debt discount and issuance costs

 

40

 

 

 

85

 

Gain on sale of BriefCam, Ltd.

 

(50

)

 

 

 

Decrease in fair value of derivative liability

 

(37

)

 

 

(103

)

Increase (decrease) in fair value of warrant liability

 

(1,549

)

 

 

1,826

 

Deferred income taxes

 

2

 

 

 

2

 

Changes in operating assets and liabilities:

 

 

 

Receivables

 

1,911

 

 

 

(938

)

Contract assets

 

21

 

 

 

645

 

Income taxes receivable / payable

 

(50

)

 

 

(102

)

Prepaid expenses and other assets

 

752

 

 

 

157

 

Accounts payable and other accrued liabilities

 

(530

)

 

 

682

 

Accrued compensation

 

(419

)

 

 

972

 

Deferred revenue

 

(4,029

)

 

 

4,688

 

Other non-current liabilities

 

(160

)

 

 

160

 

Net cash provided by (used in) operating activities

 

(17,408

)

 

 

1,570

 

Investing activities:

 

 

 

Proceeds from sale of BriefCam, Ltd.

 

50

 

 

 

 

Purchases of property and equipment

 

(239

)

 

 

(128

)

Net cash used in investing activities

 

(189

)

 

 

(128

)

Financing activities:

 

 

 

Proceeds from line of credit

 

6,840

 

 

 

 

Payment on line of credit

 

(1,840

)

 

 

 

Principal payments on term loan

 

(1,833

)

 

 

 

Principal payments on financing obligations

 

(445

)

 

 

(372

)

Payment of debt issuance costs

 

(25

)

 

 

 

Net proceeds from common stock issuance

 

23,085

 

 

 

 

Proceeds from issuance of common stock under employee stock plans

 

545

 

 

 

440

 

Common stock repurchases to settle employee withholding liability

 

(51

)

 

 

(188

)

Net cash provided by (used in) financing activities

 

26,276

 

 

 

(120

)

Effect of exchange rate changes on cash

 

6

 

 

 

(83

)

Net increase in cash and cash equivalents

 

8,685

 

 

 

1,239

 

Cash and cash equivalents, beginning of period

 

11,878

 

 

 

10,639

 

Cash and cash equivalents, end of period

$

20,563

 

 

$

11,878

 

QUMU CORPORATION

Supplemental Financial Information

(unaudited - in thousands)

 

A summary of revenue is as follows:

 

 

Three Months Ended
December 31,

 

Year Ended
December 31,

 

2021

 

2020

 

2021

 

2020

Software licenses and appliances

$

95

 

$

811

 

$

1,186

 

$

7,547

Service

 

 

 

 

 

 

 

Subscription, maintenance and support

 

5,036

 

 

5,175

 

 

20,074

 

 

18,770

Professional services and other

 

779

 

 

895

 

 

2,762

 

 

2,755

Total service

 

5,815

 

 

6,070

 

 

22,836

 

 

21,525

Total revenue

$

5,910

 

$

6,881

 

$

24,022

 

$

29,072

A reconciliation from GAAP results to Adjusted EBITDA is as follows:

 

 

Three Months Ended
December 31,

 

Year Ended
December 31,

 

2021

 

2020

 

2021

 

2020

Net loss

$

(3,849

)

 

$

(3,978

)

 

$

(16,365

)

 

$

(9,200

)

Interest expense, net

 

19

 

 

 

35

 

 

 

100

 

 

 

73

 

Income tax benefit

 

(116

)

 

 

(159

)

 

 

(392

)

 

 

(306

)

Depreciation and amortization expense:

 

 

 

 

 

 

 

Depreciation and amortization in operating expenses

 

58

 

 

 

344

 

 

 

228

 

 

 

575

 

Total depreciation and amortization expense

 

58

 

 

 

344

 

 

 

228

 

 

 

575

 

Amortization of intangibles included in cost of revenues

 

26

 

 

 

74

 

 

 

106

 

 

 

286

 

Amortization of intangibles included in operating expenses

 

161

 

 

 

165

 

 

 

649

 

 

 

657

 

Total amortization of intangibles expense

 

187

 

 

 

239

 

 

 

755

 

 

 

943

 

Total depreciation and amortization expense

 

245

 

 

 

583

 

 

 

983

 

 

 

1,518

 

EBITDA

 

(3,701

)

 

 

(3,519

)

 

 

(15,674

)

 

 

(7,915

)

Gain on sale of BriefCam, Ltd.

 

 

 

 

 

 

 

(50

)

 

 

 

Increase (decrease) in fair value of derivative liability

 

 

 

 

1

 

 

 

(37

)

 

 

(103

)

Increase (decrease) in fair value of warrant liability

 

(80

)

 

 

1,096

 

 

 

(1,549

)

 

 

1,826

 

Other expense (income), net

 

(25

)

 

 

154

 

 

 

(2

)

 

 

406

 

Stock-based compensation expense:

 

 

 

 

 

 

 

Stock-based compensation included in cost of revenues

 

27

 

 

 

14

 

 

 

71

 

 

 

36

 

Stock-based compensation included in operating expenses

 

637

 

 

 

544

 

 

 

1,996

 

 

 

1,142

 

Total stock-based compensation expense

 

664

 

 

 

558

 

 

 

2,067

 

 

 

1,178

 

Non-cash office lease surrender costs

 

 

 

 

637

 

 

 

 

 

 

637

 

Transaction-related expenses

 

 

 

 

 

 

 

 

 

 

1,623

 

Adjusted EBITDA

$

(3,142

)

 

$

(1,073

)

 

$

(15,245

)

 

$

(2,348

)

 

Company Contact:

Tom Krueger

Chief Financial Officer

Qumu Corporation

Tom.Krueger@qumu.com

+1.612.638.9100

Investor Contact:

Matt Glover or Tom Colton

Gateway Investor Relations

QUMU@gatewayir.com

+1.949.574.3860

Source: Qumu Corporation

FAQ

What were Qumu's SaaS revenue results for 2021?

Qumu reported a 35% increase in SaaS revenue, totaling $10.2 million for 2021.

How much did Qumu's SaaS Annual Recurring Revenue (ARR) grow in Q4 2021?

SaaS ARR grew by 16% to $12.8 million in Q4 2021.

What are Qumu's financial losses for the year 2021?

Qumu reported a net loss of $(16.4 million), or $(0.93) per share, for the full year 2021.

What is Qumu's guidance for SaaS revenue in 2022?

Qumu expects SaaS recurring revenue to reach at least 65% of total recurring revenue by the end of 2022.

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