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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 has announced a partnership with Kroger to enhance in-store operations through cloud networking solutions. By deploying ExtremeCloud IQ and Wi-Fi 6E access points, Extreme aims to create more engaging shopping experiences and streamline operations at Kroger stores. Key features include services like 'scan-as-you-go' and inventory location applications, which will leverage network capacity and improve IoT device performance. The initiative is expected to transform the network into a profit center rather than a cost center, providing Kroger with a comprehensive view of its network performance.
Extreme Networks reported record financial results for Q3 FY23, with revenue reaching $332.5 million, a 16% year-over-year increase. SaaS ARR also grew by 22%, totaling $117 million. GAAP diluted EPS rose to $0.17, up 70% from last year. The company achieved a 57.7% GAAP gross margin and 8.9% operating margin, reflecting improvements in supply chain management and operational execution.
Management raised the full-year revenue outlook to a midpoint of 16% growth and anticipates Q4 revenue growth exceeding 20% year-over-year. The company also repurchased 1.35 million shares for $25 million, reducing net debt to $34 million.
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