AI solutions co Quantum says Q3 preliminary revenue exceeds its guidance

Overview

• AI solutions provider's preliminary fiscal Q3 revenue exceeds high-end of its guidance range

• Preliminary Non-GAAP adjusted operating expenses within guidance range

Outlook

• Company did not provide specific guidance for future quarters or full-year outlook

Result Drivers

• REVENUE EXCEEDS GUIDANCE - Quantum estimates Q3 revenue of $72.7 mln, surpassing the high-end of its guidance range

• OPERATING EXPENSES WITHIN RANGE - Preliminary Non-GAAP adjusted operating expenses of about $26.9 mln were within the provided guidance range

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the computer hardware peer group is "buy"

• Wall Street's median 12-month price target for Quantum Corp is $11.00, about 46.9% above its January 14 closing price of $7.49

Press Release: ID:nBw2FkQTGa

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.