Shares of Quantum Corporation (NASDAQ:QMCO) rises by 140% after the firm presented the new hybrid data protection appliance, the DXi9200, and recording good financial performance.

New Product Announcement: DXi9200

This revolutionary hybrid data protection appliance provides a higher level of cyber security, data compression, and adaptive expansion needed by organizations to combat cyber threats. This new appliance isefficient for data backup and recovery too with flexible scalability starting with a 110 TB entry capacity that can expand up to 2.2 PB.

• Warning! GuruFocus has detected 7 Warning Signs with QMCO.

Positive Financial Results

Adjusted EBITDA has reached breakeven in the fiscal Q2 and non-GAAP operating expenses have cut down by 9 % signifying that the company is having a strict top-down operation focus. The above financial performance has been supported with the positive new product release, making strong investors' confidence, hence increasing Quantum Corp's stock price.

The two factors stated above are extremely important for QMCO's investors.

QMCO has suffered from bad efficiency, its operations results to no profit. The last profit was seen in 2022 and after that they suffer loss. To make it even worse, the revenue is also going down in the past decade.

With new product announcement and positive financial results, the investors feel seeing a glimpse of hope in the middle of gloomy past performance.

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This article first appeared on GuruFocus.