Extreme Networks - EXTR STOCK NEWS

Extreme Networks (Nasdaq: EXTR) has announced its upcoming investor conference schedule for November and December 2024. The company will participate in four major events: the Oppenheimer AI Impact on Cloud and Communications Summit (Nov 15), the Needham Security, Networking & Communications Conference (Nov 19), the UBS Global Technology Conference (Dec 4), and the Raymond James TMT & Consumer Conference (Dec 11). Key executives including CFO Kevin Rhodes, SVP Cristina Tate, and CEO Ed Meyercord will represent the company. Live webcasts of the presentations will be available on the company's investor relations website and archived for 30 days.

Extreme Networks (EXTR) reported Q1 FY2025 results with revenue of $269.2 million, down 23.8% year-over-year but up 4.9% quarter-over-quarter. SaaS ARR grew 23.4% year-over-year to $174.1 million. The company reported a GAAP loss per share of $0.08, compared to EPS of $0.21 last year. Non-GAAP EPS was $0.17. Gross margin improved to 63.0% GAAP and 63.7% non-GAAP. The company generated $18.6 million in operating cash flow and $11.7 million in free cash flow. Management expects continued sequential growth in Q2 and revenue growth for the full year.

Extreme Networks (Nasdaq: EXTR) has enhanced its ExtremeCloud Universal ZTNA, introducing new features to strengthen network security and simplify management. The solution unifies cloud Network Access Control and Zero Trust Network Access in a single SaaS offering. Key improvements include automated identification of private applications to reduce shadow IT risks, streamlined troubleshooting capabilities, and automated policy enforcement across Extreme's portfolio and third-party devices. According to a recent survey, 96% of CIOs consider the network fundamental for cybersecurity strategy. The solution aims to deliver consistent security policies, unified observability, and seamless experience for both remote and on-site users.

Rigrodsky Law, P.A. has announced an investigation into potential claims against Extreme Networks (NASDAQ: EXTR) officers and directors on behalf of stockholders. The investigation concerns shareholders who purchased or acquired Extreme Networks shares on or before June 27, 2022. Stockholders can learn more about their rights and the investigation through the law firm's website or by contacting Leah Wihtelin.

Extreme Networks released a research report titled 'CIO Insights Report: Priorities and Investment Plans in the Era of Platformization', surveying 200 CIOs and senior IT leaders. Key findings include:

1. Security remains the top priority, with 34% of CIOs ranking network security as their primary concern.

2. AI implementation faces challenges, including network bandwidth issues and security concerns.

3. 88% of respondents prefer a single integrated platform for networking, AI, and security.

4. Cloud networking is evolving, with 36% prioritizing a seamless transition to cloud networking.

5. IT responsibilities are expanding, with 58% citing device management and security as a top complexity.

6. Sustainability is gaining importance, with 88% agreeing that IT departments should recommend technology to mitigate carbon footprints.

Extreme Networks (Nasdaq: EXTR) has announced plans to release its first fiscal quarter 2025 financial results on Wednesday, October 30, 2024. The company will release the results before the market opens, followed by an earnings conference call and webcast at 8:00 a.m. ET (5:00 a.m. PT).

Interested parties can access the call and webcast through a registration link provided by the company. To avoid delays, participants are encouraged to dial into the conference call fifteen minutes before the scheduled start time. A separate registration link is available for those who wish to participate in the Q&A session.

Extreme Networks (Nasdaq: EXTR) has announced the strategic hire of David Nuti as Head of Security Sales. Nuti, a recognized expert in SASE best practices and strategies, brings extensive experience in scaling disruptive technologies in cybersecurity. He will focus on advancing Extreme's cybersecurity revenue growth and driving the strategy and expansion of the company's Universal Zero Trust Network Access (UZTNA) solution.

Extreme is at the forefront of converging networking, security, and AI with solutions like Extreme Network Fabric, ExtremeCloud™ Universal ZTNA, Extreme Air Defense™, and ExtremeCloud SD-WAN. Over 5,000 customers have deployed Extreme Fabric to enhance security through network segmentation and automation. The company aims to set a new standard for robust, proactive cybersecurity in a hyperconnected world.

The Schall Law Firm has announced a class action lawsuit against Extreme Networks, Inc. (NASDAQ:EXTR) for alleged violations of securities laws. The lawsuit covers investors who purchased the company's securities between July 27, 2022 and January 30, 2024. The firm encourages affected shareholders to contact them before October 15, 2024.

The complaint alleges that Extreme Networks made false and misleading statements to the market. Specifically, it claims the company faced weak client demand due to over-ordering during the COVID-19 pandemic and attempted to offset this by misrepresenting backlog orders. The lawsuit asserts that these actions led to materially false public statements throughout the class period, resulting in investor damages when the truth was revealed.

The Schall Law Firm has announced a class action lawsuit against Extreme Networks, Inc. (NASDAQ:EXTR) for alleged violations of securities laws. The lawsuit covers investors who purchased Extreme Networks securities between July 27, 2022, and January 30, 2024. The complaint alleges that the company made false and misleading statements about client demand trends and backlog orders. Specifically, it claims Extreme Networks faced weak demand due to customers over-ordering during the COVID-19 pandemic and attempted to offset this by misrepresenting backlog orders. Affected investors are encouraged to contact the firm before October 15, 2024, to participate in the case.