Quantum corp CFO Kenneth Gianella sells $53,056 in inventory

Kenneth P. Gianella, Chief Monetary Officer of Quantum Corp (NASDAQ:QMCO), bought 1,487 shares of the corporate’s widespread inventory on January 16, 2025. The shares have been bought at a worth of $35.68 every, totaling $53,056. The transaction comes amid Quantum’s outstanding 462% inventory surge over the previous 12 months, although InvestingPro evaluation signifies the corporate faces important monetary well being challenges with a weak general rating. Put up-transaction, Gianella holds 33,681 shares straight. The sale was performed on a non-discretionary foundation to cowl tax withholding obligations associated to the vesting of restricted inventory items from January 2024. With the corporate’s market cap at $158 million and analysts just lately revising earnings downward, buyers can entry complete insider buying and selling patterns and 13 extra key insights by way of InvestingPro‘s detailed analysis stories.

In different latest information, Quantum Company unveiled the Scalar i7 RAPTOR, a high-density tape storage system geared toward assembly the rising wants of AI and cloud storage. The system provides a storage density claimed to be as much as 200% increased than conventional enterprise tape libraries. Preliminary items of the Scalar i7 RAPTOR are already in buyer testing and certification. The corporate additionally introduced the event of a brand new parallel file system consumer for its Quantum Myriad all-flash file system, designed to boost NVIDIA (NASDAQ:NVDA) GPUDirect Storage® capabilities. The consumer is optimized for GPU-intensive duties equivalent to AI/ML mannequin coaching and inferencing, high-performance computing visualization and modeling, and video rendering. In monetary information, Quantum Company reported combined Q2 outcomes with a 7% lower in year-over-year income, totaling $70.5 million. Regardless of this, the corporate achieved roughly breakeven adjusted EBITDA and noticed a major enhance in its backlog, now standing at $14 million. The corporate anticipates $40 million in complete financial savings by the tip of FY 2025 on account of operational enhancements and cost-saving measures. Quantum Company adjusted its FY 2025 income outlook to $280 million, with adjusted EBITDA anticipated at $3 million. These are the latest developments for Quantum Company.

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