secwatch.observer — SEC 8-K summary
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Issuer:     EXTREME NETWORKS INC (EXTR)
CIK:        0001078271
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0000950170-24-092273
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Extreme Networks Q4 revenue $256.7M (-29% YoY), GAAP EPS -$0.42, $46.5M inventory charge
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- Q4 GAAP net loss $54.2M ($0.42 loss per share) vs net income $25.4M ($0.19 EPS) a year ago.
- Revenue $256.7M, down 29% YoY but up 22% sequentially; full year revenue $1,117.2M, down 15%.
- Recorded $46.5M excess/obsolete inventory provision in Q4 ($64.5M for FY2024), related to end-of-sale products.
- SaaS ARR reached $167M, up 29% YoY; management optimistic about return to growth in FY2025.
- Free cash flow $10.9M in Q4; cash balance $156.7M with net debt $33.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1078271/000095017024092273/0000950170-24-092273-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1078271/000095017024092273/extr-20240807.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-092273

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