secwatch.observer — SEC 8-K summary
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Issuer:     EXTREME NETWORKS INC (EXTR)
CIK:        0001078271
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000950170-24-050891
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1078271/000095017024050891/0000950170-24-050891-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1078271/000095017024050891/extr-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-050891

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