Credit agreement replaces existing credit facility, defers covenant measurements for 12 months and provides additional cash for operations
Minneapolis, January 16, 2018 - Qumu (NASDAQ: QUMU), today announced that it closed a $10 million credit agreement with ESW Capital, LLC (through its ESW Holdings, Inc. subsidiary) on January 12, 2018. The new agreement replaces the Company's existing $8.0 million term loan credit agreement with Hale Capital Partners, LP, the outstanding balance of which was paid with proceeds from the new term loan.Read more
Minneapolis, January 8th, 2017 - Qumu (NASDAQ: QUMU), a leader in enterprise video, announced the hiring of video delivery and new media innovator Chance Mason to lead worldwide sales and business development. As Executive Vice President of Worldwide Sales and Business Development, Mason will leverage his 15 years of sales and operational leadership experience in the video platform market to accelerate Qumu’s customer acquisition, maximize existing customer revenue growth, and expand Qumu’s partner network.
Harbert Nominated Kenan Lucas and Neil E. Cox Bring Experience and Expertise to Qumu Board
Minneapolis, December 19, 2017 - Qumu (NASDAQ: QUMU), a leading provider of enterprise video solutions, has announced that it has elected Kenan Lucas and Neil E. Cox to its board of directors, effective immediately. The election of Messrs. Lucas and Cox brings the total number of directors on the Qumu board to nine.Read more
Minneapolis, December 18, 2017 - Qumu (NASDAQ: QUMU), a leading provider of enterprise video solutions to the Global 2000, has named David Ristow as the Company’s Chief Financial Officer effective December 15, 2017. Ristow has been Qumu’s Interim Chief Financial Officer since November 7, 2017.Read more
Minneapolis, November 9th, 2017 - Qumu (NASDAQ: QUMU), a leading provider of enterprise video solutions, has announced the closing of twelve (12) new enterprise video clients in the third quarter of 2017. These wins mark one of the company’s most positive sales quarters in nearly two years, and represent both emerging and Global 2000 companies located in the United States, Asia-Pacific and EMEA.
Minneapolis, November 6, 2017 - Qumu Corporation (NASDAQ: QUMU) today announced, after completing its full monthly compliance analysis following October 31, 2017, that the Company was in compliance with the cash and eligible accounts receivable covenant of its term loan credit agreement with HCP-FVD, LLC and Hale Capital Partners, LP. Accordingly, the Company was not in default of the credit agreement at October 31, 2017. Qumu has maintained compliance with all financial covenants of the term loan credit agreement since it was signed in October 2016.Read more
Minneapolis, MN – October 31, 2017 – Qumu Corporation (NASDAQ: QUMU) today reported financial results for the third quarter 2017.
Third quarter revenue was $7.6 million, compared to $7.1 million in the third quarter 2016, and net loss was $(2.3) million, or a loss of $(0.25) per share, compared to $(2.5) million, or a loss of $(0.27) per share, in the third quarter 2016. Third quarter 2017 results included foreign currency losses of $(0.02) per share. Third quarter adjusted EBITDA (a non-GAAP measure) was a loss of $(0.9) million, compared to an adjusted EBITDA loss of $(1.4) million for the third quarter 2016.
Minneapolis, October 24, 2017 - Qumu (NASDAQ: QUMU), a leader in enterprise video, announced that CFO Peter Goepfrich will be leaving the company to join a private equity portfolio company, effective November 6, 2017. The Company expects to identify a candidate to act as interim CFO in the short term. The Company will also engage a search firm to recruit a successor Chief Financial Officer.Read more
Minneapolis, MN – October 10, 2017 – Qumu Corporation (NASDAQ: QUMU) today announced that it will hold its conference call and webcast to review financial results for the third quarter ended September 30, 2017, on Wednesday, November 1, 2017 at 10:00 a.m. Eastern Time. The earnings announcement will be issued after the market closes on October 31, 2017.
Minneapolis, October 4th, 2017 - Qumu (NASDAQ: QUMU), a leading provider of enterprise video solutions, has been named one of the 20 Most Promising Collaboration Technology Solution Providers of 2017 by CIOReview magazine. This annual ranking places Qumu alongside other collaboration power houses like Cisco, Polycom and Slack. CIOReview Magazine has recognized Qumu as an innovator, in part, for its enterprise video platform’s ability to “streamline video creation, management, and delivery across enterprise collaboration and social business tools” for Global 2000 firms.