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Qumu Corp (QUMU) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Qumu Corp

CIK: 892482 Ticker: QUMU
EXHIBIT 99.1

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Qumu Reports Fourth Quarter and Full Year 2020 Financial Results
2020 Revenue Up 15% to $29.1 Million and Subscription ARR Up 29% to $11.6 Million;
Management Reaffirms 20%+ Revenue Growth Target for 2021

MINNEAPOLIS – March 4, 2021 – Qumu Corporation (Nasdaq: QUMU)
, a leading provider of cloud-based enterprise video technology for organizations of all sizes, today reported financial results for the fourth quarter and full year ended December 31, 2020.
Q4 2020 and Recent Operational Highlights
Hosted 32 million viewers on Qumu Cloud during the quarter, up 6% from Q3 2020 and up 880% from Q4 2019.
Implemented a “Work from Wherever, Forever” policy for Qumu employees, phasing out dedicated office space in Minneapolis, London and Hyderabad and significantly reducing financial overhead in future years.
Leveraged new geography-agnostic policy to attract major executive talent, strengthening and diversifying leadership team across sales, marketing, and customer success.
Named a leader in 2021 Aragon Research Globe for Enterprise Video for the sixth time.
Launched new Diversity, Equity and Inclusion Committee focused on increasing internal and third-party diversity and helping ensure a fully inclusive work environment.
Solidified the balance sheet with the closing of a public offering of common stock on January 29, 2021, which provided approximately $23.1 million in cash to accelerate the company’s strategic roadmap.
Secured a $10 million revolving credit facility with Wells Fargo Bank with availability determined by recurring revenue, maturing January 15, 2023; the company received an advance of $1.8 million and repaid the face amount of the note payable to ESW Holdings, Inc.
Reiterated financial guidance for 2021 of at least 20% revenue growth compared to 2020.

Q4 2020 Financial Highlights
Subscription, maintenance, and support revenue in Q4 2020 increased 23% to $5.4 million, compared to $4.4 million in Q4 2019.
Total revenue in Q4 2020 increased 10% to $6.9 million, compared to $6.2 million in Q4 2019.
Gross margin improved to 76% in Q4 2020 from 69% in Q4 2019.

Q4 2020 Key Performance Indicators
Subscription Annual Recurring Revenue (ARR) increased 29% to $11.6 million in Q4 2020 from $9.0 million in Q4 2019.
Software-as-a-Service (SaaS) customer retention:
Gross Renewal Rate (GRR): 94% at end of Q4 2020 compared to 90% at end of Q4 2019.
Net Renewal Rate (NRR): 128% at end of Q4 2020 compared to 115% at end of Q4 2019.
Dollar Value Retention: 103% at end of Q4 2020 compared to 90% at end of Q4 2019.

Management Commentary
“In a transformative period for our business and the world, we finished the year strong and are well-positioned to meet our long-term growth goals,” said Qumu President and CEO TJ Kennedy. “Our improved quarterly and annual financial results demonstrate traction that is driving high-margin subscription ARR, which increased 29% to a record $11.6 million in 2020. Growing this valuable revenue base is a key priority within our long-term strategic roadmap, which is designed to position Qumu as a leader in cloud-first enterprise video. Combined with our healthy increase in gross and net renewal rates, we are setting the course for sustainable growth and high-margin, recurring SaaS
1

The following information was filed by Qumu Corp (QUMU) on Monday, March 8, 2021 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 Qumu Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

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)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies Lease Assets And Liabilities (Details)
Commitments And Contingencies Narrative (Details)
Commitments And Contingencies Schedule Of Lease Cost (Details)
Commitments And Contingencies Schedule Of Minimum Lease Payments (Details)
Commitments And Contingencies Subleases (Details)
Commitments And Contingencies Supplemental Cash Flow Information (Details)
Commitments And Contingencies Term Loan (Details)
Computation Of Net Loss Per Share Of Common Stock (Notes)
Computation Of Net Loss Per Share Of Common Stock (Tables)
Computation Of Net Loss Per Share Of Common Stock Antidilutive Shares Excluded From The Computation Of Earnings Per Share (Details)
Computation Of Net Loss Per Share Of Common Stock Components Of Net Loss From Continuing Operations Per Basic And Diluted Share (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Measurements Levels (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Rollforward (Details)
Fair Value Measurements - Unobservable Inputs (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 Assets Future Amortization Expense (Details)
Intangible Assets And Goodwill Narrative (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)
Revenue
Revenue (Tables)
Revenue - Remaining Performance Obligation (Details)
Revenue Contract Balances (Details)
Revenue Nature Of Products And Services (Details)
Revenue Revenue By Product Category And Geography (Details)
Sale Of Investment In Software Company
Sale Of Investment In Software Company (Details)
Significant Customers And Geographic Data
Significant Customers And Geographic Data (Tables)
Significant Customers And Geographic Data Property And Equipment By Region (Details)
Significant Customers And Geographic Data Revenues And Accounts Receivable By Customers (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 Performance Stock Units (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)
Stockholders' Equity
Stockholders' Equity Common Stock Offering (Details)
Stockholders' Equity Common Stock Repurchase Program (Details)
Subsequent Event
Subsequent Event - Hale Warrant Exercise (Details)
Subsequent Event - Public Offering (Details)
Subsequent Event - Wells Fargo Credit Facility (Details)
Termination Of Merger Agreement With Synacor, Inc. - Narrative (Details)
Ticker: QUMU
CIK: 892482
Form Type: 10-K Annual Report
Accession Number: 0000892482-21-000008
Submitted to the SEC: Tue Mar 09 2021 6:58:50 PM EST
Accepted by the SEC: Wed Mar 10 2021
Period: Thursday, December 31, 2020
Industry: Prepackaged Software

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