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Extreme Networks, Inc.

Extreme Networks, Inc.

NASDAQ•EXTR
CEO: Mr. Edward B. Meyercord III
Sector: Technology
Industry: Communication Equipment
Listing Date: 1999-04-09
Extreme Networks, Inc. provides software-driven networking solutions worldwide. It designs, develops, and manufactures wired, wireless, and software-defined wide area-network infrastructure equipment. The company offers ExtremeCloud IQ, an ML/AI powered, wired, and wireless cloud network management solution that offers advanced visibility and control over users, devices, and applications; ExtremeCloud IQ – Site Engine that provides task automation, access control, granular visibility with real-time analytics and multi-vendor device management; and ExtremeCloud IQ Essentials offers WIPS, location services, IoT, and guest management services. It also provides wireless local area networks access point products; ExtremeSwitching portfolio that includes access edge products, which offer connection speeds physical presentations along with options to deliver Ethernet or convergence-friendly Power-over-Ethernet (POE), including high-power universal POE; ExtremeCloud SD-WAN, a software-defined wide area networks solution offers an all-inclusive subscription, which includes hardware, the cloud-based SD-WAN service, support and maintenance, and customer success support; aggregation/core switches designed to address aggregation, top-of-rack, and campus core environments; and data center switches and routers. In addition, the company offers cloud native platforms and applications for service providers; and customer support and services. It markets and sells its products through distributors, resellers, and field sales organizations to healthcare, education, government, manufacturing, retail, and hospitality markets. The company was incorporated in 1996 and is headquartered in Morrisville, North Carolina.
Contact Information
2121 RDU Center Drive, Suite 300, Morrisville, NC, 27560, United States
408-579-2800
www.extremenetworks.com
Market Cap
$2.13B
P/E (TTM)
222.9
40.2
Dividend Yield
--
52W High
$22.89
52W Low
$10.10
52W Range
46%
Rank50Top 68.9%
3.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$310.25M+15.25%
4-Quarter Trend

EPS

$0.04-149.94%
4-Quarter Trend

FCF

-$20.85M-278.70%
4-Quarter Trend

2026 Q1 Earnings Highlights

Key Highlights

Revenue Growth Strong Total net revenues reached $310.2M, marking a 15.2% increase compared to prior period, driven by product sales.
Profitability Reversal Achieved Switched to Net Income of $5.611M from prior period Net Loss of $10.504M, reflecting strong operational leverage.
Product Revenue Surges Product revenues grew $31.757M, increasing 19.6% due to strong bookings and higher shipments compared to last year.
Subscription Backlog Visibility $632.2M remaining performance obligations, with 43% expected recognized in revenue during the remainder of fiscal 2026.

Risk Factors

Gross Margin Compression Total gross margin declined to 60.6% from 63.0% due to higher standard costs for products and increased distribution costs.
Operating Cash Flow Negative Net cash used in operating activities was -$14.0M, a significant reversal from $18.6M provided in the comparable period.
Increased Debt Outstanding Total debt increased to $199.432M from $177.995M, primarily due to borrowings under the 2023 Revolving Facility.
Litigation and Contingencies Risk Ongoing legal proceedings, including derivative cases, require management resources and present uncertain financial outcomes.

Outlook

AI Networking Strategy Focus Strategy centers on Extreme Platform ONE, integrating generative AI to simplify networking, security, and hybrid work.
Cloud Market Expansion Cloud-managed networking TAM projected to grow at 15% CAGR through 2029, reaching $59B market size.
Stock Repurchase Availability $188.0M remains available under the $200M 2025 Repurchase Program authorized through July 2028.
Incentive Plan Share Increase Seeking stockholder ratification to increase available shares under the 2013 Equity Incentive Plan by 6.8 million shares.

Peer Comparison

Revenue (TTM)

PagSeguro Digital Ltd.PAGS
$3.42B
+10.9%
RingCentral, Inc.RNG
$2.49B
+5.5%
Globant S.A.GLOB
$2.48B
+5.6%

Gross Margin (Latest Quarter)

BlackBerry LimitedBB
77.5%
-0.8pp
RingCentral, Inc.RNG
71.8%
+1.4pp
Braze, Inc.BRZE
67.2%
-2.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
VIAV$4.15B272.82.1%38.0%
SYNA$3.55B-79.0-3.3%34.2%
PAGS$3.03B7.115.0%57.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.6%
Moderate Growth
4Q Net Income CAGR
-4.2%
Stable Profitability
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Jan 28, 2026
|
EPS:$0.24
|
Revenue:$312.33M
Reports
All Years
  • Form 10-Q - Q1 2026

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $310.25M+15.2%
    |
    EPS: $0.04-149.9%
    Miss
  • Form 10-K - FY 2025

    Period End: Jun 30, 2025|Filed: Aug 18, 2025|
    Revenue: $1.14B+2.0%
    |
    EPS: $-0.06+91.5%
    Miss
  • Form 10-Q - Q3 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $284.51M+34.8%
    |
    EPS: $0.03-105.2%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Dec 31, 2024|Filed: Jan 30, 2025|
    Revenue: $279.36M-5.7%
    |
    EPS: $0.08+157.9%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $269.20M-23.8%
    |
    EPS: $-0.08-136.4%
    Miss
  • Form 10-K - FY 2024

    Period End: Jun 30, 2024|Filed: Aug 16, 2024|
    Revenue: $1.12B-14.9%
    |
    EPS: $-0.66-210.0%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Mar 31, 2024|Filed: May 2, 2024|
    Revenue: $211.04M-36.5%
    |
    EPS: $-0.50-394.1%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Dec 31, 2023|Filed: Feb 1, 2024|
    Revenue: $296.38M-6.9%
    |
    EPS: $0.03-77.9%
    Miss