Extreme Networks Q3 FY2024 revenue $211M (-36.5% YoY); GAAP EPS -$0.50

EXTREME NETWORKS INC

2024-Q3 EPS reported -$0.25 revenue$860,550,000

Revenue $211M, down 36.5% YoY; GAAP diluted EPS ($0.50) vs $0.17 prior year.
Non-GAAP diluted EPS ($0.19) vs $0.29; non-GAAP operating margin (12.2%).
SaaS ARR $162M, up 38% YoY; double-digit net new logo growth, led by Americas.
Cash $151M, net debt $41.5M; free cash flow negative $73.6M for Q3.
Expects sequential revenue growth in Q4 but industry impacted by customer inventory digestion; targeting FY25 growth.

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