LOS ANGELES, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Extreme Networks, Inc. ("Extreme Networks" or "the Company") (NASDAQ: EXTR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between July 27, 2022 and January 30, 2024, inclusive (the ...

SAN DIEGO, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers of Extreme Networks, Inc. (NASDAQ: EXTR) common stock between July 27, 2022 and January 30, 2024, inclusive (the "Class Period"), have until October 15, 2024 to seek appointment as lead plaintiff of the Extreme Networks class action lawsuit. Captioned Steamfitters Local 449 Pension & Retirement Security Funds v. Extreme Networks, Inc., No. 24-cv-05102 (N.D. Cal.), the Extreme Networks class action lawsuit ...

Financial Data and Key Metrics Changes - Fourth quarter revenue increased to $257 million, growing 22% sequentially, driven by a recovery in product sales [17] - Product revenue reached $153 million, up 43% sequentially, reflecting improved channel sell-through [17] - Gross margin achieved a high of 63.5%, up 230 basis points from the prior quarter and 330 basis points year-over-year [19] - Adjusted EPS for the fourth quarter was $0.19, up from a loss of $0.14 in the previous quarter [20] Business Line Data and Key Metrics Changes - Annual Recurring Revenue (ARR) from software subscriptions grew 29% year-over-year, indicating strong demand for cloud networking solutions [7] - Subscription deferred revenue increased by 23% year-over-year to $267 million, with total recurring revenue growing to 39% of fourth quarter revenue [18] - Services business showed year-over-year improvement in new service penetration rates and overall maintenance revenue, particularly in the Americas [19] Market Data and Key Metrics Changes - The company gained share by attracting a higher percentage of revenue from new customers, with 38 customers spending over $1 million in the fourth quarter [18] - The recovery in the EMEA region was noted, reflecting improved channel conditions rather than a sharp rebound in end customer demand [17] Company Strategy and Development Direction - The company is focusing on next-generation products to strengthen its competitive position and has eliminated excess inventory headwinds [5][6] - New go-to-market initiatives are contributing to growth, with a significant increase in Managed Service Provider (MSP) partners [10] - The company is leveraging its unique consumption-based billing model and poolable licensing to attract partners and customers [10] Management's Comments on Operating Environment and Future Outlook - Management expects sequential revenue growth to continue in the first and second quarters of fiscal 2025, with year-over-year growth anticipated for the full year [14] - The company is confident in its ability to navigate the competitive landscape, particularly as larger players face integration challenges [12][13] - Management highlighted the importance of technology differentiation and improved funnel visibility as key drivers for future growth [64] Other Important Information - The company has entered a co-innovation alliance with Intel to enhance its generative AI capabilities [12] - The increase in inventory reserves for obsolete products was $46.5 million, reflecting a strategic decision to focus on newer product lines [16] Q&A Session Summary Question: What macro assumptions are built into the FY-25 guidance? - Management expects a gradual recovery in the first quarter, accelerating in Q4 based on visibility from current opportunities [23][24] Question: What product capabilities are driving competitive displacements? - Key capabilities include the ability to manage competitor equipment during migration and the unique features of the enterprise Fabric [25][26] Question: How does Extreme's AI functionality compare to competitors? - Extreme is a leader in AI ops with its CoPilot application and is investing in generative AI to enhance network management [33][34] Question: What are the long-term top-line growth objectives? - Management aims for double-digit growth long-term, with expectations of a favorable competitive environment [46] Question: Where are the greatest market share opportunities geographically? - Significant opportunities are identified in the US market, with strategies to move upmarket in Europe [47] Question: Can you elaborate on the obsolescence charge and inventory levels? - The obsolescence charge was based on older generation products, and current inventory levels are expected to normalize [58][60]

Extreme Networks (EXTR) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of $0.13. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -161.54%. A quarter ago, it was expected that this maker of network infrastructure equipment would post a loss of $0.17 per share when it actually produced a loss of $0.19, delivering a surprise of -11.76%. Over the last four q ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ______ Commission file number 000-25711 EXTREME NETWORKS, INC. (Exact name of registrant as specified in its charter) DELAWARE 77-0430270 [State or other ...

Exhibit 99.1 For more information, contact: Investor Relations Media Contact Stan Kovler Amy Aylward 919/595-4196 603/952-5138 Investor_relations@extremenetworks.com pr@extremenetworks.com Extreme Networks Reports Third Quarter Fiscal Year 2024 Financial Results Financial Results in-line With Previous Outlook 38% Growth in SaaS ARR Morrisville, NC, May 1, 2024 -- Extreme Networks, Inc. ("Extreme") (Nasdaq: EXTR) today released financial results for its third quarter ended March 31, 2024. "Extreme's focus on ...

Key PointsExtreme Networks provides networking solutions offering hardware and software to data centers, government agencies and schools.Extreme Networks shares were upgraded to a Buy from Hold at B. Riley Securities.Riley Analyst Dan King believes the post-COVID inventory normalization is over, and demand is improving.5 stocks we like better than Extreme NetworksExtreme Networks Inc. NASDAQ: EXTR is a cloud-driven networking solutions provider that serves three seemingly “recession-proof” industries: gover ...

In the latest market close, Extreme Networks (EXTR) reached $11.19, with a -1.58% movement compared to the previous day. This change lagged the S&P 500's daily loss of 1.23%. Elsewhere, the Dow saw a downswing of 1.36%, while the tech-heavy Nasdaq depreciated by 1.4%.The maker of network infrastructure equipment's shares have seen a decrease of 5.49% over the last month, not keeping up with the Computer and Technology sector's gain of 2.32% and the S&P 500's gain of 1.61%.The upcoming earnings release of Ex ...

Extreme Networks (EXTR) closed the most recent trading day at $11.71, moving +1.04% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.89%. Meanwhile, the Dow gained 1.03%, and the Nasdaq, a tech-heavy index, added 1.25%.The maker of network infrastructure equipment's stock has dropped by 2.11% in the past month, falling short of the Computer and Technology sector's gain of 3.77% and the S&P 500's gain of 3.56%.The investment community will be paying close attention to the e ...

Extreme Networks (EXTR) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Over the past month, shares of this maker of network infrastructure equipment have returned -1.9%, compared to the Zacks S&P 500 composite's +3.2% change. During this period, the Zacks Computer - Networking industry, which Extreme Networks falls in, has gained 0.1%. The key question now is: Wha ...