/PRNewswire/ Quantum Corporation (NASDAQ: QMCO) announced today financial results for its fiscal fourth quarter and fiscal year 2021 results ended March 31,.
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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
Technuter
Quantum has announced that it has acquired Square Box Systems Ltd, a specialist in data cataloging, user collaboration, and digital asset management software. The acquisition builds on Quantum’s recently expanded portfolio that classifies, manages, and protects data across its lifecycle by adding technology advancements to further enrich video, digital images and other forms of unstructured data. This acquisition will strengthen Quantum’s ability to provide software solutions to help companies unlock the business value contained in their data, both on-premises and in the cloud.
Square Box Systems’ flagship product is CatDV , an agile media management and workflow automation software platform that helps organizations with large volumes of media and metadata to organize, communicate and collaborate more effectively. CatDV leverages artificial intelligence and machine learning technology to make it easier for businesses of any size to catalog and analyze digital as