Extreme Networks - EXTR STOCK NEWS

Extreme Networks, Inc. (Nasdaq: EXTR) reported Q2 FY23 revenues of $318.3 million, a 13% increase year-over-year and 7% quarter-over-quarter. SaaS ARR reached $115 million, growing 29% year-over-year. GAAP diluted EPS was $0.13, up from $0.10 last year, while non-GAAP diluted EPS increased to $0.27 from $0.21. Gross margins improved to 57.1% GAAP and 58.5% non-GAAP. The company raised its FY23 revenue outlook to the higher end of 10-15%, citing strong demand mainly in government, education, and healthcare sectors. Operating cash flow was $70.6 million with free cash flow at $67.5 million.

Extreme Networks, Inc. (NASDAQ: EXTR) has announced that customers worldwide, including major locations like Harry Reid International Airport and Green Bay Area Public Schools, are using its network fabric solutions. These solutions simplify network management, enhance security, and improve operational efficiency. Key benefits include decreased attack surfaces, robust performance in varying environments, and advanced automation capabilities for scaling network services. The company’s innovations support connectivity across diverse sectors, ultimately turning networks into profit centers.

Extreme Networks (Nasdaq: EXTR) will release its financial results for the second fiscal quarter ended December 31, 2022 before market open on January 25, 2023. An earnings conference call will be held at 8:00 a.m. ET. Investors can access the webcast on the company’s investor relations website. Extreme Networks is a leader in cloud networking, serving over 50,000 customers globally with innovative solutions leveraging machine learning and analytics.

Extreme Networks has been recognized as a Leader in the Gartner Magic Quadrant for Enterprise Wired and Wireless LAN Infrastructure for the fifth consecutive year. Since the last report in 2021, it has expanded its product offerings, including the launch of the first outdoor Wi-Fi 6E access point and enhancements to its ExtremeCloud IQ platform. Customers benefit from increased deployment flexibility, reduced configuration time, and dedicated support throughout the network lifecycle. The ongoing recognition highlights Extreme's commitment to innovation and customer-focused strategy.

Extreme Networks has launched a Wi-Fi 6 network at City, University of London, providing connectivity to over 18,000 students and 2,000 staff. This upgrade promises 99.9% uptime and simplifies network management with the ExtremeCloud IQ platform. Benefits include enhanced learning experiences through faster speeds and low latency, along with improved operational efficiency for IT staff. The solution integrates seamlessly with existing infrastructure, facilitating better security and control across the campus.

Extreme Networks reported a record revenue of $297.7 million for Q1 FY23, reflecting an 11% year-over-year increase. SaaS ARR surged to $111 million, a 41% growth from last year. Despite a slight decline in GAAP diluted EPS to $0.09, non-GAAP diluted EPS stood at $0.20. The company maintains an optimistic FY23 revenue growth outlook of 10-15% and aims to exceed 60% gross margin. Notable contracts include collaborations with Minor League Baseball and Hana Bank. Total net cash provided by operations reached $49.7 million.

Extreme Networks (NASDAQ: EXTR) has announced its investor conference schedule for November and December 2022. Key events include the 16th Annual Needham Virtual Security, Networking, and Communications Conference on November 15, featuring CEO Ed Meyercord. Additional presentations will occur at the Raymond James Technology Investors Conference in New York on December 5, the Oppenheimer 5G Summit on December 13, and the Cowen 2022 Virtual Networking Summit on December 14. Live webcasts will be available on the company's Investor Relations website.

Extreme Networks has expanded its E-Rate eligible solutions, now including Wi-Fi 6E access points and ExtremeCloud SD-WAN, aimed at U.S. schools and public libraries. The E-Rate program provides essential discounts for network upgrades, enabling institutions to modernize their infrastructure in response to the increasing need for digital resources and IoT devices. This advancement allows for high-capacity connectivity and enhanced immersive learning experiences, simplifying network management and supporting diverse learning environments.

Extreme Networks (Nasdaq: EXTR) has announced that it will release financial results for its first fiscal quarter, which ended on September 30, 2022, before the market opens on October 27, 2022. Following the announcement, an earnings conference call and webcast will take place at 8:00 a.m. ET. Investors can access the webcast through the company’s investor relations website.