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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 announced that Jefferson County Public Schools (JCPS) in Kentucky has deployed nearly 8,400 Wi-Fi 6 access points and ExtremeCloud IQ network management, enhancing digital education for 200,000 users across 169 schools. This upgrade facilitates remote learning, data-driven safety measures, and supports various educational initiatives, including iPads and Chromebooks for students. JCPS utilized E-Rate funds for this project, ensuring a secure and resilient network, essential during the ongoing COVID-19 crisis.
Extreme Networks (EXTR) announces its upcoming financial results for the second fiscal quarter ending December 31, 2020. The earnings release will occur before the market opens on January 27, 2021, followed by a live conference call at 8:00 a.m. ET. In addition, a Virtual Investor Day is scheduled for February 23, 2021, to discuss the company's market position and long-term strategy as it navigates the 5G era and increasing cloud demand.
Extreme Networks (EXTR) has launched its ExtremeCloud IQ management platform hosted in Microsoft Azure data centers in Toronto, enhancing data privacy for Canadian clients. This initiative allows enterprises to manage networks locally, fostering compliance with data sovereignty regulations. Additionally, Extreme is expanding its software engineering workforce in Thornhill, Ontario, by 10%. The platform manages over 1.1 million devices daily and offers unprecedented cloud deployment options, making it the fastest-growing provider in cloud-managed networking.
Extreme Networks (EXTR) announced the launch of Extreme Academy Live, a free eight-week training program starting December 3, aimed at providing students with essential networking and technology skills. This initiative is part of a broader effort to bridge the digital divide and respond to the growing demand for IT professionals, with a reported 278% increase in job postings for enterprise architects since 2019. Partnering with various colleges and IT firms globally, Extreme Academy offers industry certifications, ensuring participants are equipped for high-demand technology careers.
Extreme Networks (EXTR) has partnered with Deutsche Telekom to launch NBLS 2.0, an advanced managed net-based LAN service using ExtremeCloud IQ. This innovative platform offers unlimited data access, proactive monitoring, and improved performance metrics for customers in over 20 countries. Existing Telekom customers will migrate to this new service at no additional cost, gaining enhanced data security, flexibility, and streamlined network management. The collaboration aims to support digital transformation efforts and meets the increasing demand for reliable cloud-based networking solutions.
Extreme Networks (Nasdaq: EXTR) announced that NJ TRANSIT, New Jersey's public transportation system, has implemented its networking solutions to enhance connectivity and passenger security. The deployment includes advanced management software and switching solutions, allowing NJ TRANSIT to maintain operational uptime during approximately 270 million rides annually. The network covers a vast area with 5,325 miles, facilitating the management of 251 bus routes and 12 rail lines. This collaboration aims to simplify network operations and improve safety for millions of passengers.
Extreme Networks, Inc. (Nasdaq: EXTR) has been recognized as a Leader by Gartner in the 2020 Magic Quadrant for Wired and Wireless LAN Access Infrastructure, marking the third consecutive year in this position. The report indicates the company's strong ability to meet diverse customer needs and its well-rounded product portfolio. Additionally, Extreme's ExtremeCloud™ IQ platform enhances network management through advanced cloud capabilities. The company also earned a 4.9 out of 5 rating from customers on Gartner Peer Insights, reflecting high satisfaction across various sectors.
Extreme Networks (Nasdaq: EXTR) has announced its virtual conference schedule for November and December 2020, featuring CEO Ed Meyercord and CFO Rémi Thomas presenting at various events. Key dates include the Water Tower Research Virtual Conference on October 30, the JMP Small Cap Tech Forum on November 10, and the Credit Suisse Annual Technology Virtual Conference on December 2. Webcasts of these presentations will be available on the company's investor relations site and archived for 30 days.
Extreme Networks reported fiscal Q1 2021 results, revealing revenue of $235.8 million, down 8% year-over-year but up 9% sequentially. GAAP EPS improved to $(0.07) from $(0.31) last year, while non-GAAP EPS increased to $0.09 from $0.07.
Gross margins also showed improvement, with GAAP gross margins at 57.3% and non-GAAP at 60.3%. The company achieved a net cash flow of $24.7 million and free cash flow of $21.7 million, reflecting a strong operational performance.
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