secwatch.observer — SEC 8-K summary
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Issuer:     EXTREME NETWORKS INC (EXTR)
CIK:        0001078271
Form:       8-K
Filed at:   2024-01-08T23:59:59+00:00
Accession:  0000950170-24-002958
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1078271/000095017024002958/0000950170-24-002958-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1078271/000095017024002958/extr-20240108.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-002958

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