Extreme Networks Inc Stock Price, News & Analysis

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.

Extreme Networks (EXTR) has partnered with Verizon Business (VZ) to enhance wireless connectivity at Liverpool FC’s Anfield Stadium. The deployment, using Extreme’s Wi-Fi 6 technology, aims to improve fan experiences with services like mobile ticketing and cash-free transactions. Liverpool FC will also utilize ExtremeAnalytics for real-time data insights on fan behaviors. This partnership reflects a broader strategy to provide advanced connectivity in large venues, leveraging Verizon’s extensive technology and expertise.

Extreme Networks announces the appointment of Pete Brant as Senior Vice President of U.S. Sales. With over 20 years in networking and cybersecurity, Brant previously led significant sales initiatives at companies like Fortinet and Forcepoint. Paul Semak has been promoted to Senior Vice President of Americas International, focusing on Canada and LATAM. The leadership change aims to drive growth in the cloud networking market, capitalizing on emerging opportunities. Executive Joe Vitalone emphasizes the importance of experienced leadership for revenue growth.