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Qumu Corp (QUMU) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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QUMU Quarterly Reports

Qumu Corp

CIK: 892482 Ticker: QUMU
EXHIBIT 99.1

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Qumu Reports First Quarter 2022 Financial Results
Continued Execution of Transformational Cloud Growth Strategy Drives 15% Increase in Quarterly SaaS Revenue and 10% Increase in SaaS Annual Recurring Revenue (ARR)
SaaS Revenue Accounted for 54% of Total Q1 Revenue

MINNEAPOLIS – May 12, 2022 – Qumu Corporation (Nasdaq: QUMU)
, a leading provider of cloud-based enterprise video technology, today reported financial results for the first quarter ended March 31, 2022.
Q1 2022 and Recent Operational Highlights
Partnered with AT&T to launch managed unified streaming for the enterprise.
Secured several new business and key expansions, marketing the company’s new customer and expansion sales to large enterprises located in the U.S., Asia-Pacific and EMEA.
Appointed Chief Operating Officer and SaaS veteran Rose Bentley as the Company’s new President and Chief Executive Officer.
Teamed up with LiveU to expand enterprise live video capabilities.
Named a “Top Streaming Engine” by Wainhouse Research.
Q1 2022 Financial Highlights
SaaS revenue increased 15% to $2.7 million in Q1 2022, compared to $2.3 million in Q1 2021
SaaS Annual Recurring Revenue (SaaS ARR) grew to $13.0 million, up 10% year-over-year
Operating expenses decreased 3% sequentially and 10% year-over-year
Strong balance sheet with $15.5 million of cash and cash equivalents at quarter end
Q1 2022 Key Performance Indicators
SaaS revenue accounted for 60% of recurring revenue, up from 56% in Q4 2021 and 46% in Q1 2021
SaaS ARR increased to $13.0 million in Q1 2022 from $12.8 million in Q4 2021 and $11.8 million in Q1 2021
SaaS customer retention metrics:
Gross Retention Rate (GRR): 88% at end of Q1 2022 compared to 81% at end of Q1 2021
Net Retention Rate (NRR): 107% at end of Q1 2022 compared to 151% at end of Q1 2021
Management Commentary
“Our first quarter results show the continued execution of our strategy to grow our cloud business and scale our SaaS revenue base,” said Qumu President and CEO Rose Bentley. “Our ongoing success is highlighted by the 15% SaaS revenue growth we generated in the first quarter, bringing our total SaaS revenue as a percentage of our total revenue to 54%. During Q1, we landed several new wins and key customer expansions, both of which support our view that Qumu’s transformation is well underway. Our partner-led sales motions are working, demonstrated by the fact that 75% of our wins in Q1 were through channel partners, including Kollective, BT, and Socialive. The traction we realized also demonstrates our execution against our strategy around customers, product adoption, innovation, and partners.”
Qumu CFO Tom Krueger commented: “Our commitment to driving our cloud business and scaling our SaaS revenue base continues to translate to robust growth across our key metrics, a trend we expect to continue in 2022 and beyond. Our encouraging SaaS and recurring revenue growth is supported by our solid balance sheet, including $15.5 million of cash, a level that provides sufficient runway to execute our growth strategy. In addition to
1

The following information was filed by Qumu Corp (QUMU) on Friday, May 13, 2022 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-Q Quarterly 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-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity
Commitments And Contingencies
Commitments And Contingencies (Components Of Lease Cost) (Details)
Commitments And Contingencies (Future Payments Used In Measurement Of Lease Liabilities) (Details)
Commitments And Contingencies (Lease Narrative) (Details)
Commitments And Contingencies (Svb Loc) (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies (Wells Fargo Loc) (Details)
Computation Of Net Loss Per Share Of Common Stock
Computation Of Net Loss Per Share Of Common Stock (Components Of Net Income (Loss) Per Basic And Diluted Share) (Details)
Computation Of Net Loss Per Share Of Common Stock (Schedule Of Antidilutive Securities Excluded From The Computation Of Earnings Per Share) (Details)
Computation Of Net Loss Per Share Of Common Stock (Tables)
Fair Value Measurements
Fair Value Measurements (Measurement Levels) (Details)
Fair Value Measurements (Narrative) (Details)
Fair Value Measurements (Rollforward) (Details)
Fair Value Measurements (Tables)
Fair Value Measurements (Unobservable Inputs) (Details)
Fair Value Measurements (Warrants Outstanding) (Details)
Income Taxes
Income Taxes (Details)
Intangible Assets And Goodwill
Intangible Assets And Goodwill (Amortization Expense) (Details)
Intangible Assets And Goodwill (Components Intangible Assets) (Details)
Intangible Assets And Goodwill (Intangible Assets Rollforward) (Details)
Intangible Assets And Goodwill (Narrative) (Details)
Intangible Assets And Goodwill (Tables)
Nature Of Business And Basis Of Presentation
Nature Of Business And Basis Of Presentation (Details)
Nature Of Business And Basis Of Presentation (Policies)
Revenue
Revenue (Contract Assets And Liabilities) (Details)
Revenue (Disaggregation Of Revenue) (Details)
Revenue (Narrative) (Details)
Revenue (Policies)
Revenue (Tables)
Stock-Based Compensation
Stock-Based Compensation (Schedule Of Allocation Of Share-Based Compensation Costs) (Details)
Stock-Based Compensation (Schedule Of Stock-Based Awards Granted) (Details)
Stock-Based Compensation (Tables)

Material Contracts, Statements, Certifications & more

Qumu Corp provided additional information to their SEC Filing as exhibits

Ticker: QUMU
CIK: 892482
Form Type: 10-Q Quarterly Report
Accession Number: 0000892482-22-000024
Submitted to the SEC: Mon May 16 2022 4:26:44 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Prepackaged Software

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