Extreme Networks cuts Q2 revenue outlook to ~$294-297M, cites channel digestion and elongated sales cycles

EXTREME NETWORKS INC

2024-Q2 EPS reported $0.25 revenue$649,514,000

Q2 revenue expected $294-297M vs prior $312-327M; large deals pushed to future quarters.
Annualized subscription revenue ~$430M, 41% YoY growth (up from 32% in Q1).
Recurring revenue to be 33% of total; gross margin at higher end of prior range.
Cash balance $221.4M after $25M share repurchases in Q2.
Full Q2 earnings call scheduled for January 31, 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXTREME NETWORKS INC reported second quarter ended December 31, 2023 results: revenue approximately $294 to $297 million. Guidance lowered.

Period: second quarter ended December 31, 2023
Revenue: approximately $294 to $297 million
Guidance: lowered
Result: guidance update

Exact text from the filing

Second quarter revenues are now expected to be approximately $294 to $297 million, compared to the prior outlook of $312 to $327 million.

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Source: SEC EDGAR

accession 0000950170-24-002958

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