secwatch.observer — SEC 8-K summary
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Issuer:     EXTREME NETWORKS INC (EXTR)
CIK:        0001078271
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0001564590-22-035354
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1078271/000156459022035354/0001564590-22-035354-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1078271/000156459022035354/extr-8k_20221027.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-035354

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