EXTREME NETWORKS (EXTR) Company Report

Extreme Networks, Inc. (EXTR) provided its detailed financial outlook for the full fiscal year 2026, ending June 30, 2026, on November 10, 2025.
For FY26, the company projects GAAP total net revenue between $1,247.0 million and $1,264.0 million, with GAAP diluted earnings per share in the range of $0.28 to $0.32.
Non-GAAP guidance for FY26 includes total net revenue between $1,247.0 million and $1,264.0 million, non-GAAP operating margin between 14.6% and 14.8%, and non-GAAP diluted earnings per share between $0.99 and $1.02.

Nov 10, 2025, 7:43 PM

8-K

Extreme Networks Outlines Growth Strategy and Financial Targets at Investor Day 2025

EXTR

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Extreme Networks (EXTR) projects double-digit revenue growth for the current year and aims to grow profitability by over 20% annually for the next three to four years, targeting long-term gross margins of 64-66% and operating margins of 22-24%.
The company's SaaS Annual Recurring Revenue (ARR) is projected to grow from $200 million to $650 million over the next four years, representing a 30% year-over-year growth. Recurring revenue is expected to increase from 36% to 41% of total revenue, contributing to a 100 basis point margin improvement.
Extreme Networks is a leader in the cloud-managed networking segment, growing at 24% (twice the market rate). The company is strategically positioned for the AI networking market, which is anticipated to grow at a 72% CAGR over the next five years and comprise $19 billion of the campus networking market.
Their Platform One strategy, central to their offerings, includes two key AI "moats": a unified data architecture and proprietary model-agnostic technology for cost-effective, real-time query processing. This platform is enabling early adopters to gain up to 300,000 hours of capacity annually through AI-driven efficiencies.
New commercial models, such as those with zero hardware cost of goods sold for Extreme, generate 80-85% margins on bundled software and Platform One offerings. The support attach rate is expected to significantly increase from 60-70% to approximately 95% over four years.

Nov 10, 2025, 5:00 PM

Transcript

Extreme Networks Outlines Strong Growth Projections and AI-Driven Strategy at Investor Day

EXTR

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Extreme Networks projects double-digit product and overall revenue growth with earnings growth in the 20% range over the next five years, updating its EPS guidance to a minimum of $0.99 up to $1.02. The company also targets 64%-66% gross margins and 22%-24% operating margins.
The company's SaaS Annual Recurring Revenue (ARR) is expected to grow from $200 million today to $650 million over the next four years, representing 30% year-over-year growth. Recurring revenue is projected to increase from 36% to 41% of total revenue over time.
Extreme Networks is strategically focused on AI and its Platform ONE offering, positioning itself as a leader in the cloud-managed market and the rapidly growing AI networking for campus market, which is projected to have a 72% CAGR over the next five years.
New commercial models, including the Subscription Private Offer (ESPO) and MSP programs, are driving 14% of new subscription bookings and yield 80%-85% margins on the software component by decoupling hardware.
A $200 million share buyback program was in place as of July 1st.

Nov 10, 2025, 5:00 PM

Transcript

Extreme Networks Outlines Platformization, AI Strategy, and Financial Growth Targets at Investor Day

EXTR

Guidance Update

New Projects/Investments

Revenue Acceleration/Inflection

Extreme Networks is advancing its platformization strategy with Platform One, which has garnered significant early adoption, connecting tens of thousands of devices and hundreds of customers within 90 days of its July GA.
The company emphasizes its AI moat through unified data and proprietary model usage, asserting a multi-year competitive lead against major players like Cisco and HP, and a strong advantage over startups due to scale and data.
Extreme is strategically positioned in the high-growth cloud-managed networking market (13% CAGR) and the rapidly expanding AI networking for campus market (72% CAGR), where it is already a leader with 24% annual SaaS ARR growth.
New commercial models, including a pure OpEx subscription offer, are driving 14% of new subscription bookings and contribute to higher gross margins (80-85%) by separating hardware sales, with recurring revenue expected to increase from 36% to 41% of total revenue.
Extreme updated its full-year EPS guidance to $0.99 to $1.02 and committed to 20%+ annual profitability growth over the next 3-4 years, projecting SaaS ARR to surge from $200 million to $650 million over four years.

Nov 10, 2025, 5:00 PM

Transcript

Extreme Networks Reports Strong Q1 FY26 Results with Double-Digit Revenue Growth

EXTR

Earnings

Guidance Update

Revenue Acceleration/Inflection

Extreme Networks reported Q1 FY26 revenue of $310 million, a 15% year-over-year increase, marking its sixth consecutive quarter of revenue growth and third straight quarter of double-digit year-over-year increases. Earnings per share (EPS) reached $0.22, up 29% from the prior year.
SaaS Annual Recurring Revenue (ARR) grew 24% year-over-year to $216 million, and bookings increased 21% year-over-year, driven by large wins and adoption of Extreme Platform One.
Non-GAAP gross margin was 61.3% in Q1 FY26, impacted by industry-wide increases in component costs. The company has implemented price increases and expects gross margins to recover, exiting FY26 with a 100 to 200 basis point improvement from current levels, targeting 63%+.
For Q2 FY26, Extreme Networks expects revenue between $309 million and $315 million and EPS between $0.23 and $0.25. The full FY26 revenue guidance is $1,247 million to $1,264 million, suggesting 10% year-over-year growth at the midpoint.

Oct 29, 2025, 12:00 PM

Transcript

Extreme Networks Reports Strong Q1 2026 Results and Provides FY 2026 Guidance

EXTR

Earnings

Guidance Update

Revenue Acceleration/Inflection

Extreme Networks reported strong Q1 2026 financial results, with revenue reaching $310 million, up 15% year-over-year, and earnings per share of $0.22, a 29% increase from the prior year.
SaaS Annual Recurring Revenue (ARR) grew 24% year-over-year to $216 million, and total bookings increased 21% year-over-year, reflecting strong demand and adoption of the new Extreme Platform One.
For Q2 2026, the company forecasts revenue in the range of $309 million to $315 million and EPS between $0.23 and $0.25; full fiscal year 2026 revenue is expected to be between $1,247 million and $1,264 million, with the midpoint suggesting 10% year-over-year growth.
Despite a non-GAAP gross margin of 61.3% in Q1 2026 due to increased component costs, the company expects margins to recover to a target of 64% to 66% over time, supported by recent price increases and growth in higher-margin subscription services.

Oct 29, 2025, 12:00 PM

Transcript

Extreme Networks Reports Strong Q1 2026 Results with Double-Digit Revenue and EPS Growth

EXTR

Earnings

Guidance Update

Revenue Acceleration/Inflection

Extreme Networks reported strong Q1 2026 results, with revenue reaching $310 million, a 15% year-over-year increase, marking the sixth consecutive quarter of revenue growth and the third straight quarter of double-digit year-over-year increases. Earnings per share for the quarter were $0.22, up 29% year-over-year.
The company's SaaS Annual Recurring Revenue (ARR) grew 24% year-over-year to $216 million, driven by recent large wins and the adoption of the new Extreme Platform ONE. Total bookings increased 21% year-over-year.
For Q2 2026, Extreme Networks expects revenue to be in the range of $309 million to $315 million and earnings per share between $0.23 and $0.25. The full fiscal year 2026 revenue is projected to be between $1,247 million and $1,264 million, with the midpoint suggesting 10% year-over-year growth.
Non-GAAP gross margin in Q1 2026 was 61.3%, impacted by industry-wide component cost increases. However, the company anticipates a recovery to 63%+ by the end of the fiscal year through price increases and other initiatives, with a long-term target of 64%-66%.
During the quarter, Extreme Networks repurchased 577,000 shares for a total of $12 million and ended with $209 million in cash.

Oct 29, 2025, 12:00 PM

Transcript

Extreme Networks Reports Q1 2026 Results and Provides Q2 and FY26 Guidance

EXTR

Earnings

Guidance Update

Share Buyback

Extreme Networks reported total revenue of $310.2 million and Non-GAAP EPS of $0.22 for Q1 2026.
SaaS Annual Recurring Revenue (ARR) reached $216 million, demonstrating a 24% year-over-year growth.
The company's net cash position was $7.8 million at the end of Q1 2026, and it repurchased 577K shares for $12 million during the quarter.
For Q2 2026, Extreme Networks provided guidance of revenue between $309.0 million and $315.0 million and Non-GAAP EPS between $0.23 and $0.25.

Oct 29, 2025, 12:00 PM

Presentation

Extreme Networks Announces Q1 Fiscal Year 2026 Financial Results and Q2 FY26 Guidance

EXTR

Earnings

Guidance Update

Revenue Acceleration/Inflection

Extreme Networks reported strong Q1 Fiscal Year 2026 financial results, with revenue reaching $310.2 million, an increase of 15.2% year-over-year, marking the sixth consecutive quarter of sequential growth.
The company's SaaS Annual Recurring Revenue (ARR) grew 24.2% year-over-year to $216.2 million in Q1 Fiscal Year 2026, driven by increasing customer demand and interest in its AI-powered networking platform.
Non-GAAP diluted EPS for Q1 Fiscal Year 2026 was $0.22, compared to $0.17 in the prior year.
For Q2 Fiscal Year 2026, the company is targeting total net revenue between $309.0 million and $315.0 million and non-GAAP diluted EPS between $0.23 and $0.25.

Oct 29, 2025, 11:07 AM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for EXTREME NETWORKS.

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