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January 27 , 2021 Quantum Quantum Reports 14 % Sequential Growth in Third Quarter Fiscal 2021 SAN JOSE , Calif . , Jan. 27 , 2021 / PRNewswire / -- Quantum Corporation ( NASDAQ : QMCO ) announced today financial results for its fiscal third quarter ended December 31 , 2020 . Quantum Third Quarter Fiscal 2021 Financial Summary • Revenue grew 14 % sequentially to $ 98.0 million • Gross margin was 43.1 % • GAAP net loss was $ 2.7 million , or ( $ 0.07 ) per share • 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 with increasing evidence that our new strategy is resonating with customers . Notably , the higher - than - expected revenue resulted in continued improvement in adjusted EBITDA and our achievement of breakeven on an adjusted basis ahead of plan . These accomplishments are particularly noteworthy considering the higher sales and channel expenses incurred in the quarter to support our new product introductions as well as the expansion of our leadership team . " " In addition to our strong financial results , our business transformation continued with the introduction of multiple new products to classify , manage and protect unstructured data , on premise or in the cloud . We closed our first ATFS and StorNext 7 deals with the subscription software pricing , and we expect these solutions will drive a growing contribution of recurring revenue and higher margins , while also increasing the total addressable market of Quantum's solutions . Also during the quarter , we further expanded our software offerings