Qumu Corp (QUMU) 10-K Annual Report Tue Mar 15 2016

Fourth quarter revenue was $10.1 million, a 21% increase compared to the fourth quarter 2014. Full year 2015 revenue was $34.5 million, a 30% increase compared to last year. Fourth quarter net loss per share was $(0.50) compared to $(0.87) in the fourth quarter 2014. Fourth quarter 2015 results included severance expense of $743,000 or $(0.08) per share, a loss on a third party license agreement of $1.2 million or $(0.13) per share, and a tax benefit of $357,000 or $0.04 per share.

Fourth quarter adjusted EBITDA (a non-GAAP measure) was a loss of $3.7 million, compared to a loss of $7.2 million for the fourth quarter of 2014 and a loss of $6.2 million for the third quarter of 2015.

“I am proud of our performance in the fourth quarter. Our team delivered on revenue, gross margin and expense management while growing our customer base and increasing our technology lead. We are the clear leader in the enterprise video market, as can be seen from Qumu’s consistently high leadership ratings in analyst reports from Gartner, Forrester, Aragon, Frost & Sullivan, and our addressable market continues to grow within the segments we target: financial services, pharmaceutical, manufacturing, retail and other Global 5000 businesses,” said Vern Hanzlik, Qumu’s President and Chief Executive Officer. “We will continue to improve our financial metrics without compromising our ability to grow. Our focus on the enterprise video market is our key differentiator, resulting in software solutions that deliver the best user experience to our customers.”

Other Information


•	Fourth quarter subscription, maintenance and support revenue was $5.2 million compared to $4.2 million in the fourth quarter 2014. Full year subscription, maintenance and support revenue was $18.8 million compared to $12.2 million last year.


•	Fourth quarter gross margin was 57% compared to 46% the fourth quarter 2014. Full year 2015 gross margin was 49% compared to 45% last year.


•	Total headcount was 192 as of December 31, 2015 compared to 194 as of September 30, 2015 and 222 as of December 31, 2014.


•	Cash, marketable securities and restricted cash were $13.3 million as of December 31, 2015, compared to $15.1 million as of September 30, 2015, reflecting the fourth quarter operating loss and the impact on cash from changes in working capital.

Guidance

For the first quarter of 2016, revenue is expected to be in the range of $8.0 million to $9.0 million. First quarter net loss per diluted share is expected to be in the range of $(0.53) to $(0.49) with fully diluted weighted average shares outstanding of approximately 9.2 million shares. Adjusted EBITDA is expected to be in the range of a loss of $3.5 million to $3.0 million compared to a loss of $8.7 million in the first quarter 2015.

The following information was filed by Qumu Corp (QUMU) on Wednesday, March 9, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Qumu Corp provided additional information to their SEC Filing as exhibits

Exhibit 21.1: Subsidiaries Of Qumu Corporation

Exhibit 23.1: Consent Of Kpmg Llp

Exhibit 31.1: Certification Of Ceo Pursuant To Section 302

Exhibit 31.2: Certification Of Cfo Pursuant To Section 302

Exhibit 32: Certification Of Ceo / Cfo Pursuant To Section 906

Ticker: QUMU
CIK: 892482
Form Type: 10-K Annual Report
Accession Number: 0000892482-16-000029
Submitted to the SEC: Tue Mar 15 2016 5:08:26 PM EST
Accepted by the SEC: Tue Mar 15 2016
Period: Thursday, December 31, 2015
Industry: Prepackaged Software