Extreme Networks Inc Stock Price, News & Analysis

Extreme Networks (Nasdaq: EXTR) has been named a Leader in the 2021 Gartner Magic Quadrant for Enterprise Wired and Wireless LAN Infrastructure, marking its fourth consecutive year in this position. The company reported a remarkable 96% year-on-year growth in subscription bookings, becoming the fastest-growing player in its category. The recent acquisition of Ipanema is expected to enhance its ExtremeCloud offering with SD-WAN capabilities, further boosting its SaaS business. Extreme also achieved a customer satisfaction rating of 4.7 out of 5 in Gartner Peer Insights.

Extreme Networks (Nasdaq: EXTR) has announced its investor conference schedule for November and December 2021. Key events include the Needham Virtual Security, Networking, & Communications Conference on November 16, featuring CEO Ed Meyercord, and the 12th Annual Craig-Hallum Alpha Select Virtual Conference on the same day with CFO Rémi Thomas. Additionally, the 13th Annual Southwest IDEAS Investor Conference will take place in Dallas on November 18, and the Raymond James Virtual Technology Investors Conference on December 8. Live webcasts will be available on their website.

Extreme Networks (Nasdaq: EXTR) has partnered with NASCAR to enhance fan experiences and streamline operations through advanced networking solutions. The collaboration includes deploying Wi-Fi 6 technology and real-time analytics across 12 NASCAR venues. This initiative aims to improve mobile ticketing, concessions, and sports betting capabilities, while providing valuable insights into fan behaviors and venue operations. Key components include ExtremeAnalytics for network performance monitoring and ExtremeCloud IQ for centralized management, positioning NASCAR to create engaging, immersive experiences.

Extreme Networks (EXTR) reported a robust financial performance for Q1 FY2022, with revenues reaching $267.7 million, a 14% increase year-over-year. GAAP EPS improved to $0.10 from (0.07), showing strong profitability growth. Non-GAAP EPS rose to $0.21, up 133% compared to the previous year. Operating cash flow was $40.3 million, and free cash flow increased by 70% to $36.8 million. Despite supply chain challenges, Extreme doubled its backlog to over $200 million. The company is optimistic about future growth, expecting double-digit organic revenue growth for FY22.

Extreme Networks (Nasdaq: EXTR) announced that Novant Health has deployed its enterprise-grade Wi-Fi 6E solution, the AP4000 access point, enhancing high-speed Wi-Fi across its facilities. This implementation supports secure connectivity for critical healthcare applications and devices, addressing the needs of a high-density network environment. Wi-Fi 6E's advanced features enable better reliability and security, leveraging 6 GHz channels to alleviate congestion. This deployment marks an important step in delivering innovative healthcare services and improving patient care experiences.

Extreme Networks (Nasdaq: EXTR) extended its Lending Enablement and Assistance Program (LEAP) until June 2022, aimed at providing operational and financial support to channel partners and customers in the US and Canada. Initially launched in response to COVID-19, LEAP offers flexible financing, with first payments deferred up to 180 days and loans starting at 0% interest. Partners can access complimentary training and maintain partner program status with attractive rebates. This extension reflects Extreme's commitment to supporting partners in meeting growing demands for cloud-managed networking solutions.

Extreme Networks (Nasdaq: EXTR) announced plans to release its financial results for the first fiscal quarter ending September 30, 2021. The announcement will occur on November 2, 2021, prior to market open. This will be followed by an earnings conference call at 8:00 a.m. ET. Investors can participate by accessing the webcast via their investor site. The company continues to enhance cloud-driven networking solutions and supports over 50,000 customers globally, leveraging machine learning and AI.

Extreme Networks (Nasdaq: EXTR) has partnered with Stanford Athletics to enhance the fan experience at Stanford Stadium and Maples Pavilion through high-density Wi-Fi 6 networks. The installation includes Wi-Fi access points, enabling improved connectivity for fans. Using ExtremeAnalytics™, Stanford can monitor Wi-Fi usage and streamline gameday operations. The network supports mobile ticketing and will facilitate the rollout of new digital services for fans. Comcast Business is the systems integrator and managed services provider for this deployment.

Extreme Networks (Nasdaq: EXTR) announced the successful implementation of WBA OpenRoaming technology at the Polytechnic Institute of Viseu (IPV) in Portugal, enabling seamless and secure connections to a high-speed Wi-Fi 6 network for students and faculty. IPV is the first institution in Portugal to adopt OpenRoaming, which simplifies user connectivity, reduces IT workload, and enhances network security. This collaboration aims to improve educational resources, provide uninterrupted internet access, and support future programming without extensive manual user management.