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• | Operating loss decreased by $3.3 million in the three months ended March 31, 2019, compared to corresponding 2018 period. |
• | Gross margin for the first quarter 2019 was 78.3%, compared to 56.3% for first quarter 2018. |
• | Cash and cash equivalents totaled $8.6 million as of March 31, 2019, compared to $8.6 million as of December 31, 2018. |
• | Software license and appliance revenue was $1.0 million and $451,000 for the three months ended March 31, 2019 and 2018, respectively. |
• | Subscription, maintenance and support revenue was $5.6 million and $4.0 million for the three months ended March 31, 2019 and 2018, respectively. |
• | Operating expenses decreased $503,000 during the three months ended March 31, 2019, compared to the corresponding 2018 period, reflecting the impact of the Company's improved operating efficiencies. |
• | Annual contract value bookings growth is expected to be 20% to 25% in 2019 compared to 2018. |
• | Revenue for 2019 is expected to be approximately $27 million. Gross margin percentage is expected to be in the high 60s to low 70s. |
• | Net loss for 2019 is expected to be approximately $(5.1) million. Adjusted EBITDA for 2019 is expected to be approximately $(1.5) million. Forecasted adjusted EBITDA for 2019 excludes forecasted interest expense of approximately $1.0 million, income tax benefit of approximately $(0.2) million, depreciation expense of approximately $0.3 million, amortization of acquired intangible assets of approximately $1.2 million, stock-based compensation of approximately $0.9 million, and increase in warrant liability of approximately $0.4 million. |
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Qumu Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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While the current authorization remains in effect, the Company expects its primary use of cash will be to fund operations in support of the Companys goals for revenue growth and operating margin improvement.
The following is a summary of operating expenses (dollars in thousands): Operating expenses for the three months ended March 31, 2019 compared to the corresponding 2018 period reflected lower employee costs due to fewer personnel and continued improvement in the Company's operational efficiency.
Future gross profit margins will fluctuate quarter to quarter and will be impacted by the rate of growth and mix of the Company's product and service offerings, utilization of service personnel, and foreign currency exchange rate fluctuations.
The decrease in expenses of $229,000 in the three months ended March 31, 2019 compared to the corresponding 2018 period was driven primarily by lower employee costs due to fewer research and development personnel.
The operating cash flows for the 2019 period were favorably impacted by the change in receivables, offset by unfavorable changes in contract assets, deferred income and customer deposits, and accrued compensation.
The Company's platform enables global...Read more
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Financial Statements, Disclosures and Schedules
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Qumu Corp provided additional information to their SEC Filing as exhibits
Ticker: QUMU
CIK: 892482
Form Type: 10-Q Quarterly Report
Accession Number: 0000892482-19-000027
Submitted to the SEC: Tue May 07 2019 2:31:30 PM EST
Accepted by the SEC: Wed May 08 2019
Period: Sunday, March 31, 2019
Industry: Prepackaged Software