Page 1

Quantum Quantum Reports Second Quarter Fiscal 2022 Results November 3 , 2021 Revenue Increases 5 % Sequentially to $ 93.2 Million Guides For 12 % Sequential Growth in Third Fiscal Quarter SAN JOSE , Calif . , Nov. 3 , 2021 / PRNewswire / -- Quantum Corporation ( NASDAQ : QMCO ) announced today financial results for its fiscal second quarter ended September 30 , 2021 . Quantum . Second Quarter Fiscal 2022 Financial Summary and Recent Highlights • Revenue grew 9 % year - over - year to $ 93.2 million , exceeding the high - end of the guidance range • GAAP net loss was $ 9.3 million , or ( $ 0.16 ) per share ; adjusted non - GAAP net income was $ 0.1 million , or $ 0.00 per diluted share • Ended the quarter with $ 50.0 million in backlog , compared to $ 30.0 million in the prior quarter • Software and recurring licensing customers grew 30 % sequentially , while bookings were up greater than 70 % • Adjusted EBITDA was $ 5.3 million , exceeding the high - end of the guidance range • Acquired EnCloudEn , a hyperconverged software startup , expanding presence in video surveillance and driving shift towards recurring software revenue model Jamie Lerner , Chairman and CEO , Quantum commented , " Our second quarter results exceeded the high - end of our guidance range across all key metrics , supported by strong customer demand while increasing backlog to over $ 50 million . Orders from our hyperscale customers grew sequentially for the third consecutive quarter , and while not all orders will ship in the subsequent quarter , visibility into revenue contribution from this growing base has improved dramatically relative to a year ago . The ongoing industry supply constraints improved during the quarter , but still restricted our ability to meet all end customer demand . We anticipate supply chain constraints will see further improvement in our third fiscal quarter , which should allow the company to see a sequential reduction in current backlog levels . " Also , during the quarter , software and recurring licensing revenue increased significantly , with our CatDV software delivering a second consecutive quarter of increased bookings , driven by strong adoption across sports , entertainment and enterprise markets . Our recurring software and services customer base continued to accelerate with bookings 2 times greater than customers in the quarter , demonstrating a growing backlog of higher