Qumu reaffirms FY20 revenue outlook

Jul. 29, 2020 1:15 AM ETQumu Corporation (QUMU)By: SA News Team
  • Qumu (NASDAQ:QUMU) down 2% after Q2 results miss top and bottom line estimates.
  • Q2 highlights: Revenue increased 74% y/y to $9.3M.
  • Adjusted EBITDA for the quarter was $0.81M, an improvement compared to adjusted EBITDA loss of $1.4M year-ago.
  • Gross margin for the quarter was 68.5% compared to 70.9% for Q219.
  • Cash and cash equivalents totaled $9.9M at the end of quarter, compared to $8.4M in prior quarter.
  • QUMU reaffirms its 2020 revenue outlook of $29.0M (consensus: $28.65M), representing 14% y/y growth and an increase from previous revenue outlook of $28M.
  • Previously: Qumu EPS misses by $0.07, misses on revenue (July 28)

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