Quantum Corporation

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Quantum Reports Decline in Revenue, Focuses on Cost Efficiency

Quantum Corporation's fiscal 2024 faced significant financial challenges, including a major revenue decline and a widening net loss. Despite these hurdles, the company is taking strategic steps to stabilize its financial position by enhancing profitability through cost savings and focusing on high-margin products. The outlook for fiscal 2025 is cautiously optimistic, with expectations of stable revenue and better profitability.

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Quantum Corp. engages in the manufacture of computer storage devices. It provides solutions for storing and protecting information in physical, virtual and cloud environments. Its product portfolio includes Myriad All-Flash File and Object Storage Software, StorNext Hybrid Flash and Disk File Storage Software, and Unified Surveillance Platform Software. The company was founded by Joel N. Harrison and James M. McCoy in 1980 and is headquartered in San Jose, CA.

SAN JOSE, Calif.--(BUSINESS WIRE)--Quantum Corporation (NASDAQ: QMCO) (“Quantum or the “Company”) today filed a Form 8-K detailing amendments to the Company's term loan and revolving credit agreements. These amendments, among other things, waived the covenant requirements related to financial statements prepared in accordance with GAAP for the fiscal quarter ended December 31, 2023. The amendments also waived financial covenants related to the Company's total net leverage ratio for the same fis.

Quantum Announces Waiver and Amendment to Term Loan and Revolving Credit Agreements

SAN JOSE, Calif.--(BUSINESS WIRE)--Quantum Corporation (NASDAQ: QMCO) (“Quantum or the “Company”) announced today that it has filed a Form 12b-25 Notification of Late Filing for the quarter ended December 31, 2023 (the “Form 10-Q”) by February 9, 2024, the original due date for such filing. As previously disclosed, the Company is in the process of re-evaluating its application of Standalone Selling Price as part of Accounting Standards Codification (ASC) Topic 606 that has resulted in the delay.

Quantum Announces Delayed Form 10-Q Filing for Quarter Ending December 31, 2023

Quantum (NASDAQ: QMCO ) stock is down on Wednesday despite the digital video and unstructured data storage and management company announcing a deal with XENON Systems. Quantum reached an agreement with XENON Systems that has the latter purchasing its Quantum Myriad software.

Why Is Quantum (QMCO) Stock Down 5% Today?

All-flash file and object software delivers hot-to-cold data solution in tandem with Quantum ActiveScale SAN JOSE, Calif. , Feb. 13, 2024 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) announces that XENON Systems, a leading high-performance computing and complex data storage specialist, has purchased Quantum Myriad™, an all-flash, scale-out file and object storage software platform.

XENON Systems Purchases Myriad All-Flash Cloud-Native Solution to Fuel AI, Power Research and Data Science Workloads

Leading managed services provider deploys Quantum ActiveScale for active and cold data use cases after success with other Quantum solutions SAN JOSE, Calif. , Jan. 30, 2024 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), the leader in solutions for unstructured data, today announced that Amidata, a leading managed services provider, has implemented Quantum ActiveScale™ object storage as the foundation for their new Amidata Secure Cloud Storage Service.

Amidata Expands Offerings Based on Quantum End-to-End Solutions, Launches New Cloud Storage Service Built on ActiveScale Object Storage

SAN JOSE, Calif. , Jan. 27, 2024 /PRNewswire/ -- Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company") announced today that it has been notified by the Listing Qualifications Department of the Nasdaq Stock Market LLC ("Nasdaq") that the Company's plan to regain compliance submitted on January 16, 2024 has been approved.

Nasdaq Accepts Quantum's Plan to Regain Listing Compliance

SAN JOSE, Calif. , Jan. 17, 2024 /PRNewswire/ -- Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company") announced today that in accordance with Nasdaq Listing Rules, the Company has submitted its plan to regain compliance on January 16, 2024.

Quantum Announces Update on Plan to Regain Nasdaq Compliance and Delayed Form 10-Q Filing

SAN JOSE, Calif. , Dec. 12, 2023 /PRNewswire/ -- Quantum, the leader in solutions for unstructured data, today announced that MR Datentechnik, a leading German IT solutions and managed services provider, has implemented Quantum ActiveScale™ object storage as the foundation of their new MR S3 Storage Service supporting customers' needs for backup and recovery, archiving, and data security.

MR Datentechnik Builds a Scalable, S3-Compatible Storage Service with Quantum ActiveScale to Drive New Revenue Streams

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In early-access testing, cloud-native solution demonstrates high performance, ease of use SAN JOSE, Calif. , Nov. 29, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), the leader in solutions for video and unstructured data, announces that Quantum Myriad™, an all-flash, scale-out file and object storage software platform for the enterprise, is now generally available for purchase.

Quantum Myriad™ All-Flash File and Object Solution Now Generally Available

SAN JOSE, Calif., Nov. 17, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) ("Quantum" or the "Company") announced today that it received a notice (the "Notice") from the Listing Qualifications staff of the Nasdaq Stock Market LLC ("Nasdaq") on November 14, 2023 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the Company's delay in filing its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2023 (the "Quarterly Report") with the Securities and Exchange Commission.

Quantum Announces Notification from Nasdaq Related to Delayed Form 10-Q Filing

Announces Postponement of Second Quarter Earnings Release and Conference Call SAN JOSE, Calif. , Nov. 13, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) ("Quantum or the "Company") announced today that it has filed a Form 12b-25 Notification of Late Filing because it is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 (the "Form 10-Q") by November 9, 2023, the original due date for such filing.

Quantum Files Form 12b-25 Notification of Late filing

New backup appliance bundles provide highly optimized data replication and cloud tiering capabilities with up to 70X greater storage and networking efficiency SAN JOSE, Calif. , Oct. 11, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), the leader in solutions for unstructured data, today announced new bundled offerings for organization-wide data protection based on Quantum DXi-Series Backup Appliances, the industry's most efficient backup data management platform.

Quantum Announces New DXi Edge-Core-Cloud Bundles for Comprehensive Data Protection and Ransomware Recovery to Safeguard Business Operations Across the Distributed Enterprise

Award-winning object storage solution is key part of Quantum's end-to-end data platform that enables flexible hybrid cloud workflows SAN JOSE, Calif. , Sept. 13, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), the leader in solutions for unstructured data, today announced new pre-configured bundles to make it even easier to purchase and deploy Quantum ActiveScale™ Cold Storage, the industry's only S3-enabled object storage solution architected for both active and cold data sets that reduces cold storage costs by up to 60 percent.

Quantum Announces New Pre-Configured ActiveScale Cold Storage Bundles to Make It Simple to Deploy On-Prem Cloud Resources and Unlock Value in Archived Data

SAN JOSE, Calif. , Sept. 9, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), today announced that Jamie Lerner, Chairman and CEO of Quantum, and Kenneth Gianella, Chief Financial Officer, will participate at the Northland Institutional Investor Conference, which will be held as a virtual event on September 19, 2023.

Quantum to Participate at the Northland Institutional Investor Conference on September 19

SAN JOSE, Calif. , Sept. 5, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), today announced that Jamie Lerner, Chairman and CEO of Quantum, and Kenneth Gianella, Chief Financial Officer, will attend the Lake Street BIG7 Best Ideas Growth Conference, which will be held at the New York Yale Club on September 14, 2023.

Quantum to Participate at the Lake Street BIG7 Best Ideas Growth Conference on September 14

New capabilities give customers choice in where and how they place their data to enhance agility, reduce business risks, and lower costs SAN JOSE, Calif. , Aug. 30, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), the leader in solutions for unstructured data, today announced new features in the company's end-to-end data platform, including advances to its policy-driven data movement technologies, to help customers build their ideal hybrid cloud workflow to seamlessly bridge on-prem deployments with multi-cloud integration.

Quantum Expands Hybrid Cloud Leadership with New Features across End-to-End Unstructured Data Platform

Joint solutions enable simple integration of cloud storage into video surveillance workflows for data analysis, compliance and business insights SAN JOSE, Calif. , Aug. 16, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), the leader in solutions for video and unstructured data, today announced a partnership with Tiger Surveillance, a leading provider of video surveillance data management and protection solutions, to deliver end-to-end solutions for long-term retention and archiving of video surveillance data.

Quantum Announces Partnership with Tiger Surveillance to Address Growing Need for Long-term Retention of Video Surveillance Data

Quantum Corporation (NASDAQ:QMCO ) Q1 2024 Earnings Conference Call August 8, 2023 9:00 AM ET Company Participants Brian Cabrera - SVP, Chief Legal & Administrative Officer and Secretary James Lerner - Chairman, President & CEO Kenneth Gianella - CFO Conference Call Participants George Iwanyc - Oppenheimer Craig Ellis - B. Riley Securities Eric Martinuzzi - Lake Street Capital Markets Nehal Chokshi - Northland Capital Markets Operator Welcome to Quantum's Fiscal First Quarter 2024 Financial Results Conference Call.

Quantum Corporation (QMCO) Q1 2024 Earnings Call Transcript

While the top- and bottom-line numbers for Quantum Corp. (QMCO) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Here's What Key Metrics Tell Us About Quantum Corp. (QMCO) Q1 Earnings

Quantum Corp. (QMCO) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to loss of $0.04 per share a year ago.

Quantum Corp. (QMCO) Reports Q1 Loss, Lags Revenue Estimates

SAN JOSE, Calif. , Aug. 8, 2023 /PRNewswire/ -- Quantum Corporation (Nasdaq: QMCO) announced today financial results for its fiscal first quarter ended June 30, 2023.

Quantum Reports First Quarter Fiscal 2024 Results

SAN JOSE, Calif. , July 31, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO), today announced that Jamie Lerner, Chairman and CEO of Quantum, and Kenneth Gianella, Chief Financial Officer, will be participating at the Oppenheimer Technology, Internet & Communications Conference on Wednesday, August 9, 2023, which is being held as a virtual event.

Quantum to Participate at the Oppenheimer Technology, Internet & Communications Conference on August 9

SAN JOSE, Calif. , July 25, 2023 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) announced today it will release financial results for its fiscal first quarter 2024 on Tuesday, August 8, 2023, before the market open.

Quantum to Release Fiscal First Quarter 2024 Financial Results on Tuesday, August 8, 2023

If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Quantum Corp. (QMCO) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.

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