Quantum Corporation (QMCO) saw a decrease of 29.90% in aftermarket following the announcement of Third Quarter Fiscal 2022 Results. However, the last trading session concluded at $4.95 with an increase of 5.10%.
Third Quarter Fiscal 2022 Results – More About it
QMCO announced Third Quarter Fiscal 2022 Results on 9th February 2022. The company recorded revenue of about $95.3 million with an incline of 2%. Moreover, the total operating expenses came out to be $42.4 million with selling and administrative expenses around $27.3 million. Furthermore, GAAP net loss recorded was $11.1 million. Last but not the least, the cash and cash equivalents are $4.3 million.
Data-Intensive Autonomous Vehicle Research by QMCO – What’s up?
On 5th January 2022, QMCO announced its contribution to the Center for Advanced Vehicular Systems (CAVS) at Mississippi State University (MSU) in boosting all-terrain autonomous vehicle research. Quantum R-Series Edge Storage, a high-performance is a ruggedized system designed for capturing enormous data volumes in edge locations. It will be used by CAVS to capture massive quantities of information. Moreover, vehicles that gather data are then analyzed and used in the CAVS data center to construct machine learning (ML) models.
Furthermore, CAVS engineers can make data easily accessible to numerous development groups by combining the Quantum R-Series Edge Storage into a single storage platform. Technicians can help eliminate the memory magazine from the in-car backup system and slide it into a data center chassis, or they can use the 10-GbE network interface to offload the acquired vehicle data.
Now what?
Data is a critical component in enabling the automated car market’s continuous survival and prosperity. In addition, partnering with the CAVS team is a fantastic chance and would provide a data analysis solution that simplifies and streamlines the storage, movement, and analysis of crucial field data for the CAVS engineering team.
About QMCO
Quantum’s end-to-end platform is built on more than 40 years of the invention. Not only this but it is ideally positioned to organize, safeguard, and enrich data throughout its lifecycle. This further results in enhanced intelligence and actionable insights. Because data makes life better, safer, and smarter, leading companies in cloud services, entertainment, government, research, education, transportation, and business IT entrust Quantum with bringing their data to life.
