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Extreme Networks, Inc. (EXTR) is a leading provider of software-driven networking solutions aimed at enhancing business operations by facilitating stronger connections among customers, partners, and employees. Founded in 1996 and headquartered in San Jose, California, Extreme Networks serves over 20,000 customers across more than 80 countries.
Extreme Networks offers a comprehensive range of products and services, including wired and wireless network infrastructure equipment and advanced software for network management, policy enforcement, analytics, and access controls. The company's solutions are designed to address the networking needs of various sectors, including business, education, government, healthcare, manufacturing, and hospitality.
Key offerings from Extreme Networks include high-density Wi-Fi solutions, centralized and cloud-based network management systems, and application analytics. These products are engineered to support both on-premise and cloud-based deployments, ensuring flexibility and scalability to meet diverse client requirements.
With a commitment to customer support, Extreme Networks provides 100% insourced call-in technical assistance, catering to organizations of all sizes. The company's customer base includes some of the world's leading enterprises, reinforcing its reputation for reliability and innovation in the networking industry.
Extreme Networks continues to drive growth and innovation through strategic partnerships and cutting-edge projects. The company's financial performance is bolstered by its significant presence in the Americas, which generates approximately half of its revenue, with the remainder coming from Europe, the Middle East, Africa, and the Asia-Pacific region. For more details, visit Extreme's website or call 1-888-257-3000.
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.
Extreme Networks (Nasdaq: EXTR), a leader in cloud networking, announced that several NFL clubs including the Packers, Texans, Vikings, and Chargers, are deploying its solutions to enhance fan experiences and operational efficiency. Utilizing Wi-Fi 6E and ExtremeCloud™ Business Insights, the teams aim to improve connectivity, mobile applications, and operational management.
The 2024 NFL season marks Extreme's 12th as the official Wi-Fi and Wi-Fi analytics provider. The Chargers will use Extreme's Wi-Fi 6E at their 150,000 sq. ft. practice facility, enhancing mobile app performance and data transfer. The Vikings will deploy AI-native cloud networking at their 66,000-seat stadium, improving mobile ticketing and video replays. The Packers upgraded Lambeau Field with Wi-Fi 6E for seamless fan connectivity. The Texans' NRG Stadium will also offer high-speed connectivity and leverage data insights for better operational management.
Extreme Networks (Nasdaq: EXTR) has announced its investor conference schedule for August and September 2024. The company's executives will participate in six major technology and investor conferences:
1. Oppenheimer's 27th Annual Technology, Internet & Communications Conference (Virtual, Aug 12)
2. 2024 Evercore ISI Semiconductor, IT Hardware & Networking Conference (Chicago, Aug 27)
3. Jefferies Semiconductor, IT Hardware & Communications Technology Conference (Chicago, Aug 28)
4. Piper Sandler Growth Frontiers Conference (Nashville, Sep 11)
5. B. Riley Securities 7th Annual Consumer & TMT Conference (New York, Sep 12)
6. Lake Street BIG8 Investor Conference (New York, Sep 12)
Presentations will be available via webcast on the company's Investor Relations website.
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