Qumu (NASDAQ:QUMU) down 2% after Q2 results miss top and bottom line estimates.
Q2 highlights: Revenue increased 74% y/y to $9.3M.
Adjusted EBITDA for the quarter was $0.81M, an improvement compared to adjusted EBITDA loss of $1.4M year-ago.
Gross margin for the quarter was 68.5% compared to 70.9% for the Q219.
Cash and cash equivalents totaled $9.9M at the end of quarter, compared to $8.4M in prior quarter.
QUMU reaffirms its 2020 revenue outlook of $29.0M (consensus: $28.65M), representing 14% y/y growth and an increase from previous revenue outlook of $28M.
Previously: Qumu EPS misses by $0.07, misses on revenue (July 28)
