Qumulusai Shares Down Sharply in NASDAQ Debut

Dow Jones01:14

Shares of cloud platform QumulusAI declined in their first trading day on Nasdaq after a direct listing.

The stock opened at $38 Thursday and recently traded at $15.60.

As of June 26, the Atlanta company had 31.7 million common shares outstanding.

QumulusAI's largest shareholders include ATW Partners. Last month, the company announced a second $45 million facility, increasing ATW's total commitment to $90 million.

The company said Tuesday that it expects fiscal 2026 forward annualized recurring revenue of about $300 million, representing growth of about 30 times from fiscal 2025.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

July 16, 2026 13:14 ET (17:14 GMT)

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