Quantum Corp (NASDAQ:QMCO) shares have reached a remarkable 52-week high, trading at $64.24. This milestone reflects a significant surge in the company's stock value, with InvestingPro data showing a striking 536% return over the past year. The stock has demonstrated exceptional momentum, posting a 408% gain in just the last six months, though investors should note the stock's high volatility rating. Investors have shown growing confidence in Quantum's strategic direction and market position, which is evident from the stock's robust performance. However, InvestingPro analysis indicates some caution is warranted, as analysts anticipate a sales decline this year and the company currently shows negative EBITDA of -$35.23M. The company's market capitalization stands at $302.35M, with comprehensive insights available in the Pro Research Report, which offers detailed analysis of what matters most for informed investment decisions.
In other recent news, Quantum Corporation has been the subject of various headlines. The company reported mixed Q2 results, with a 7% decrease in year-over-year revenue, totaling $70.5 million. Despite this, the company achieved approximately breakeven adjusted EBITDA and saw a significant increase in its backlog, now standing at $14 million. The company anticipates $40 million in total savings by the end of FY 2025 due to operational improvements and cost-saving measures. Quantum Corporation adjusted its FY 2025 revenue outlook to $280 million, with adjusted EBITDA expected at $3 million.
In addition to the financial results, Quantum Corporation recently unveiled the Scalar i7 RAPTOR, a high-density tape storage system aimed at meeting the growing needs of AI and cloud storage. The system offers a storage density claimed to be up to 200% higher than traditional enterprise tape libraries. Initial units of the Scalar i7 RAPTOR are already in customer testing and certification.
Furthermore, Quantum Corporation announced the development of a new parallel file system client for its Quantum Myriad all-flash file system. The client is designed to enhance the capabilities of NVIDIA (NASDAQ:NVDA) GPUDirect Storage® and is optimized for artificial intelligence (AI), machine learning (ML), high-performance computing (HPC), and life sciences applications. The new client will be available for evaluation through Quantum's Early Access Program in Q1 2025, with general availability projected for the second half of 2025. These are the recent developments for Quantum Corporation.
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