Quik is from a newer generation of video editor apps. It's halfway decent if you need something simple. The way it works is you add up to 50 photos and video clips into the app. The app then analyzes them and spits out a short video from them. Quik contains about two dozen video styles and you can re-order and customize your video before you export it. It’s not nearly as powerful as something like Adobe Premiere Clip or PowerDirector, but not everyone needs something that intense. It's free to download with no in-app purchases.
You can also use the build-in video converter tools to freely convert video/audio format to another format. It is a non-linear tool, which means you can place video clips in the timeline freely. You can also export your video to IG, FB and YouTube, which is powerful as a free video editor. You can also edit 4K and HD videos. For this point, not every free video editor can do.
If your camera exports a spherical fisheye or dual fisheye footage, some editing softwares require you to convert your footage into equirectangular format before you can edit them. Others, like Pinnacle Studio will work with these and convert them into equirectangular format for editing. If you have a device that captures your footage by stitching multiple cameras together (ex. a device that holds 6 GoPros to capture all 360 degrees), you will still be required to use stitching software to create a 360 file, video editing and stitching software are two very different things.