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Qumu Corp (QUMU) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Qumu Corp

CIK: 892482 Ticker: QUMU


EXHIBIT 99.1

Qumu Announces Fourth Quarter and Full Year 2015 Results

Record Quarterly Revenue of $10.1 Million, a 21% year-over-year increase
Full Year 2015 Revenue of $34.5 Million, a 30% year-over-year increase
Initiates Fiscal 2016 Guidance

Conference Call Wednesday, March 9 at 10:00 a.m. ET

Minneapolis, MN – March 8, 2016 –
Qumu Corporation (NASDAQ: QUMU) today reported financial results for the fourth quarter and year ended December 31, 2015.

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.


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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

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders Equity
401 (k) Savings Plan
401 (k) Savings Plan (details)
Acquisition Of Kulu Valley, Ltd
Acquisition Of Kulu Valley, Ltd (tables)
Acquisition Of Kulu Valley, Ltd Narrative (details)
Acquisition Of Kulu Valley, Ltd Preliminary Purchase Accounting Allocation (details)
Common Stock (details)
Common Stock (notes)
Component Of Net Income Per Basic And Diluted Share (details)
Computation Of Net Loss From Continuing Operations Per Share Of Common Stock
Computation Of Net Loss From Continuing Operations Per Share Of Common Stock (tables)
Computation Of Net Loss From Continuing Operations Per Share Of Common Stock Narrative (details)
Contingencies And Commitments
Contingencies And Commitments (details)
Contingencies And Commitments (tables)
Contingencies And Commitments Narrative (details)
Contingencies And Commitments Schedule Of Minimum Lease Payments (details)
Divestiture Of Disc Publishing
Divestiture Of Disc Publishing (details)
Divestiture Of Disc Publishing (tables)
Divestiture Of Disc Publishing - Balance Sheet From Discontinued Operations (details)
Divestiture Of Disc Publishing - Net Income From Discontinued Operations (details)
Income Taxes
Income Taxes (tables)
Income Taxes Component Of Income Before Income Taxes (details)
Income Taxes Deferred Tax Assets And Liabilities (details)
Income Taxes Income Tax Expense (benefits) (details)
Income Taxes Income Tax Reconciliation (details)
Income Taxes Narrative (details)
Income Taxes Unrecognized Tax Benefits (details)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (tables)
Intangible Assets And Goodwill Amortization Expense (details)
Intangible Assets And Goodwill Changes In Intangible Assets (details)
Intangible Assets And Goodwill Intangible Asset Rollforward (details)
Intangible Assets And Goodwill Intangible Assets Future Amortization Expense (details)
Intangible Assets And Goodwill Narrative (details)
Marketable Securities
Marketable Securities (tables)
Marketable Securities Schedule Of Marketable Securities (details)
Nature Of Business And Summary Of Significant Accounting Policies
Nature Of Business And Summary Of Significant Accounting Policies (policies)
Nature Of Business And Summary Of Significant Accounting Policies (tables)
Nature Of Business And Summary Of Significant Accounting Policies Allowance For Doubtful Accounts (details)
Nature Of Business And Summary Of Significant Accounting Policies Narrative (details)
Property And Equipment
Property And Equipment (tables)
Property And Equipment Narrative (details)
Property And Equipment Schedule Of Property And Equipment (details)
Significant Customers And Geographic Data
Significant Customers And Geographic Data (tables)
Significant Customers And Geographic Data Revenues And Accounts Receivable By Customers (details)
Significant Customers And Geographic Data Revenues And Property, Plant, And Equipment By Region (details)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (tables)
Stock-based Compensation Nonvested Restricted Stocks (details)
Stock-based Compensation Schedule Of Assumptions (details)
Stock-based Compensation Schedule Of Restricted Stock Options (details)
Stock-based Compensation Schedule Of Share-based Compensation Rollforward (details)
Stock-based Compensation Schedule Of Share-based Payment Arrangements (details)
Stock-based Compensation Schedule Of Stock Options (details)
Supplemental Quarterly Data - Unaudited
Supplemental Quarterly Data - Unaudited (details)
Supplemental Quarterly Data - Unaudited (tables)
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

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