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Quantum Reports 14% Sequential Growth in Third Quarter Fiscal 2021
Represents Second Consecutive Quarter of Sequential Growth; Business Transformation Continues with Addition of New Software Solutions
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SAN JOSE, Calif., Jan. 27, 2021 /PRNewswire/ Quantum Corporation (NASDAQ: QMCO) announced today financial results for its fiscal third quarter ended December 31, 2020.
Third Quarter Fiscal 2021 Financial Summary
Revenue grew 14% sequentially to $98.0 million
Gross margin was 43.1%
Non-GAAP adjusted net income improved to $0.01 million, $0.00 per share
Adjusted EBITDA increased $0.6 million sequentially to $9.4 million
Jamie Lerner, Chairman and CEO, Quantum commented, Revenue in the third quarter once again exceeded our guidance due to continued growth across our traditional market verticals, including with our hyperscale customers, as well as an initial recovery in our Media and Entertainment business, coupled