8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (date of earliest event reported): October 11, 2022

Qumu Corporation

(Exact name of Registrant as Specified in its Charter)

Minnesota

(State Or Other Jurisdiction Of Incorporation)

000-20728	41-1577970
(Commission File Number)	(I.R.S. Employer Identification No.)
400 S. 4th Street, Suite 401-412
Minneapolis, MN	55415
(Address Of Principal Executive Offices)	(Zip Code)

(612) 638-9100

Registrant’s Telephone Number, Including Area Code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol	Name of each exchange on which registered
Common stock, par value $0.01	QUMU	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934. ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Items under Sections 1 through 6 and 8 are not applicable and therefore omitted.

Item 7.01 Regulation FD Disclosure.

On October 11, 2022, Qumu Corporation (the “Company”) published a “CEO Dispatch” from Rose Bentley, the Company’s Chief Executive Officer, on the Company’s LinkedIn account (www.linkedin.com/company/qumu). The CEO Dispatch is furnished with this Item 7.01 as Exhibit 99.1.

The information furnished in this Item 7.01 and Exhibit 99.1 attached hereto shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Forward-Looking Statements

The CEO Dispatch contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in the CEO Dispatch that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” or “estimate” or comparable terminology are intended identify forward-looking statements. Forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements.

Such forward-looking statements include, for example, statements about: the success of go-to-market strategies or the other initiatives in the company’s strategic plan, the company’s ability to continue as a going concern, the expected use and adoption of video in the enterprise, the ability to obtain additional capital as needed, the ability to attract and retain necessary personnel, the company’s future revenue and operating performance, cash balances or cash burn, future product mix or the timing of recognition of revenue, or the demand for the company’s products or software. The risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements include the risk factors described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, and other factors set forth in the Company’s filings with the Securities and Exchange Commission.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
99.1	Qumu Corporation CEO Dispatch Published on October 11, 2022.
104.1	Cover Page Interactive Data File (formatted as inline XBRL).

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	QUMU CORPORATION
	By:	/s/ Thomas A. Krueger
		Thomas A. Krueger
		Chief Financial Officer
Date: October 12, 2022

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EX-99.1

EXHIBIT 99.1

From the desk of Rose Bentley

Published on October 11, 2022

Welcome to autumn. I’m looking forward to reporting to you on the results for our third quarter, which ended September 30, later this month. We currently plan to announce our third quarter results the week of October 24. Stay tuned for the exact date and the conference call dial-in details.

100 Days In …

Early in our third quarter, I completed the proverbial “first 100 days” as Qumu’s CEO. Those days went by in a flash.

I was fortunate to have during this critical time a departing CEO committed to a smooth transition, a supportive board, an engaged leadership team, and a roster of blue chip customers and partners invested in Qumu’s success.

Most important, I was (and still am!) surrounded by a Qumu team that did not let the leadership transition distract them from the urgent work of continuing Qumu’s transformation into a cloud-based provider of an enterprise-capable video engagement platform.

By focusing on execution through those first 100 days plus, we have nearly completed the planned transformation of Qumu. The benefits of that transformation will become increasingly evident in margin expansion and growth in recurring revenues later this year and into next. In addition, we have also reduced expenses and curtailed our cash consumption considerably without compromising our ability to serve existing customers, win new ones and continue investment in the Qumu Video Engagement Platform.

  

… Looking Three Years Out

Thanks to the progress we have made working IN the business – building a healthy pipeline in collaboration with partners, closing sales, winning renewals, and improving our core offering – we now have the opportunity to work ON the business.

One critical aspect of that is articulating a vision for the company that brings clarity to what we are building now and provides an overview of what our business will look like, feel like and act like three years out.

During the quarter, our leadership team came together to formulate that vision and the values underlying it. Our shared vision for Qumu is that by December 31, 2025, we are a profitable company with $50 million in revenue and predictable growth. As a team, we bond over an award-winning culture of meaningful interactions and professional development while enjoying the freedom and flexibility of remote work.

Our product gives customers back their precious time with innovative features that deliver actionable insights and optimize engagement. We take pride in providing a best-in-class customer experience through a secure, reliable and engaging platform.

I encourage you to learn more about our vision here.

Meanwhile, I look forward to updating you on our progress later this month.

XML

Cover	Oct. 11, 2022
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Oct. 11, 2022
Entity File Number	000-20728
Entity Registrant Name	Qumu Corporation
Entity Central Index Key	0000892482
Entity Tax Identification Number	41-1577970
Entity Incorporation, State or Country Code	MN
Entity Address, Address Line One	400 S. 4th Street
Entity Address, Address Line Two	Suite 401-412
Entity Address, City or Town	Minneapolis
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55415
City Area Code	(612)
Local Phone Number	638-9100
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock, par value $0.01
Trading Symbol	QUMU
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false