Extreme Networks reports record Q1 revenue $297.7M (+11% YoY); SaaS ARR up 41% to $111M

EXTREME NETWORKS INC

2023-Q1 EPS reported $0.09 revenue$297,689,000

Revenue $297.7M, record; SaaS ARR $111M (+41% YoY); GAAP diluted EPS $0.09, Non-GAAP $0.20.
GAAP gross margin 56.0%, Non-GAAP 57.6%, up QoQ; operating margin improved to 5.8% GAAP, 12.1% Non-GAAP.
Free cash flow $46.6M; retired $37M of debt; net debt down to $73.2M from $114.1M in prior quarter.
Backlog $555M; reiterates FY23 revenue growth outlook of 10-15%; expects >60% gross margin in H2.
Customer wins: Hana Bank, Minor League Baseball, major Las Vegas casino, Ministry of Justice France.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXTREME NETWORKS INC reported first fiscal quarter ended September 30, 2022 results: revenue $297.7 million, net income $12.6 million, EPS $0.09. Guidance reaffirmed.

Period: first fiscal quarter ended September 30, 2022
Revenue: $297.7 million
Net income: $12.6 million
EPS: $0.09
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Extreme Networks, Inc. (“Extreme”) (Nasdaq: EXTR) today released financial results for its first fiscal quarter ended September 30, 2022. Fiscal First Quarter Results: • Revenue $297.7 million, up 11% year-over-year, and up 7% quarter-over-quarter • SaaS ARR* $111.0 million, up 41% year-over-year, and up 8% quarter-over-quarter • GAAP diluted EPS $0.09, compared to

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accession 0001564590-22-035354

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