Jamie Lerner, Quantum President, CEO, Addresses COVID-19 Business Update

Quantum has published a letter to employees, customers, suppliers, partners and shareholders on the actions the company will take in response to the COVID-19 pandemic, Quantum announced on Monday.

“As part of our commitment to flatten the curve of COVID-19 and keep communities safe, Quantum employees around the world are working from home and in almost all cases, they have the requisite IT infrastructure to remain productive using our collaboration tools, cloud-based software, and global networking infrastructure,” said Jamie Lerner, president and CEO of Quantum. 

Quantum’s core data center will continue to operate with a select group of essential personnel to keep our sites sterile while maintaining 24/7 global customer support. The company’s engineers are productive and inventing new software-defined storage features and other innovations. 

The company’s manufacturing partners in the U.S. and Mexico are currently staffed and running, and its supply chain is generally healthy. While Quantum has not experienced any major supply chain issues to date, the company will prepare for disruptions and anticipate some customers may pause purchases as we navigate this crisis.

Quantum has over $130 million of annual recurring high gross margin revenue from our service business and installed base and approximately $20 million annually from LTO royalties. Quantum's data protection solutions are core to many of its customers' business continuity foundation. The company will continue its contracts with the world's top television networks, national governments around the world, the US Navy, US Air Force, NASA, National Institutes of Health and more. 

“We continue to maintain a productive and positive dialogue with our lenders. We have worked with them to reach accommodations in the past, when we were in a far weaker position. Now that we have achieved profitability and built a positive track record with our lenders, we believe we are in a far better position today to work with them as necessary to navigate the current environment,” added Lerner. 

About Quantum

Quantum technology and services help customers capture, create and share digital content – and preserve and protect it for decades.  With solutions built for every stage of the data lifecycle, Quantum's platforms provide the fastest performance for high-resolution video, images, and industrial IoT.  That's why the world's leading entertainment companies, sports franchises, researchers, government agencies, enterprises, and cloud providers are making the world happier, safer, and smarter on Quantum.

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