| --- | --- | --- | |-------|----------------------------------------------------------|-------| | | | | | | Extreme Networks FQ3'21 Financial Results April 28, 2021 | | Cautionary Statement on Financial Measures 2 Non-GAAP Measures: In preparing the accompanying information Extreme Networks Inc. (the "Company") has excluded, where applicable, the impact of certain Non-GAAP costs as listed at the end of this presentation. The Company believes these Non-GAAP measures provide both management and investors wit ...

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 December 31, 2020 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 jurisdiction of in ...

Financial Data and Key Metrics Changes - The company reported preliminary Q2 results with revenue expectations between $238 million to $248 million, exceeding prior guidance of $235 million to $245 million [29] - Non-GAAP earnings per share outlook improved to $0.11 to $0.17 from a previous range of $0.09 to $0.12 [29] - Gross margin expectations for Q3 are between 58.4% to 59.5% for GAAP and 61.5% to 62.5% for non-GAAP, indicating a sequential improvement [37] Business Line Data and Key Metrics Changes - New cloud subscription bookings grew 140% year-over-year and 40% sequentially, reaching over $80 million in annualized run rates [30] - Wireless unit shipments saw a 14% quarter-over-quarter growth, marking a return to sequential growth [23] - The company experienced strong demand for new wired products, particularly the 5520 universal platform, contributing to higher gross margins [24] Market Data and Key Metrics Changes - The Americas region grew 2% year-over-year in bookings, while international business bookings increased by 3% year-over-year [31] - Six out of eight major verticals showed quarter-over-quarter growth, with notable demand in government and education sectors [32] - The company anticipates a recovery in the sports and entertainment verticals in the second half of fiscal '21 [32] Company Strategy and Development Direction - The company is focusing on cloud-driven networking solutions to support digital transformation, emphasizing the importance of data insights for business optimization [10][12] - A strategic shift towards a channel-driven growth model has been implemented, enhancing customer focus and opportunity management [17] - The company is investing in innovation and customer experience to drive future growth, particularly in the context of 5G opportunities [22][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth, expecting double-digit year-over-year revenue growth and record gross margins in the second half of fiscal '21 [27] - The ongoing digital transformation and the shift to distributed networks are seen as long-term trends that will benefit the company [10][11] - Management noted that the company is gaining market share and becoming more competitive in the cloud-based networking space [50] Other Important Information - The company paid down $40 million in debt, reducing its net debt balance to $172.3 million [35] - Deferred revenue reached $309.1 million, up 4% sequentially, which is expected to sustain recurring revenue growth [30] - The company is addressing potential adjustments to its financial statements related to its distributor rebate program [28] Q&A Session Summary Question: What are the primary drivers of the improving gross margin? - The improving gross margin is primarily driven by product gross margin, a positive shift in product mix, and a sequential drop in freight and tariff costs [39] Question: Is there any risk of gross margins backsliding below the 60% level? - Management does not foresee any risk of backsliding and expects gross margins to continue improving [40] Question: How much of the strength in government and education is tied to E-Rate? - Government and education were the strongest verticals, with a healthy demand observed [45] Question: Can you clarify the 5G opportunity? - The 5G opportunity is expected to be substantial, with potential annual revenue opportunities in the range of $50 million to $100 million [53][60] Question: What is the deadline for getting the December quarter financials finalized? - The deadline for filing is February 9, and the company expects to complete its reviews on time [88] Question: Are there any component issues in the supply chain? - The company has not faced significant supply chain constraints due to strong relationships with suppliers, although lead times for certain products have increased [100]

THE CLOUD-DRIVEN END-TO-END ENTERPRISE NETWORK EXTREME NETWORKS INVESTOR OVERVIEW November 2020 Cautionary Statement on Financial Measures 2 Non-GAAP Measures: In preparing the accompanying information, Extreme Networks, Inc. (the "Company") has excluded, where applicable, the impact of certain Non-GAAP costs as listed at the end of this presentation. The Company believes these Non-GAAP measures provide both management and investors with additional insight into its current operations, the trends affecting t ...

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 September 30, 2020 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 jur ...

| --- | --- | --- | |-------|--------------------------------------------------------|-------| | | | | | | Extreme Networks FQ1'21 Financial Results Oct 28, 2020 | | Cautionary Statement on Financial Measures 2 Non-GAAP Measures: In preparing the accompanying information Extreme Networks Inc. (the "Company") has excluded, where applicable, the impact of certain Non-GAAP costs as listed at the end of this presentation. The Company believes these Non-GAAP measures provide both management and investors with ad ...

Extreme Networks, Inc. (NASDAQ:EXTR) Q1 2021 Results Conference Call October 28, 2020 8:00 AM ET Company Participants Stan Kovler - Vice President of Corporate Strategy and Investor Relations Ed Meyercord - President and Chief Executive Officer Remi Thomas - Chief Financial Officer Conference Call Participants Bharat Iyer - JPMorgan Alex Henderson - Needham Dave Kang - B. Riley Ryan Meyers - Lake Street Capital Paul Silverstein - Cowen Christian Schwab - Craig-Hallum John Roy - Water Tower Research Woo Jin ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2020 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 | --- | --- | --- | --- | |-------|-------|--------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | ...

Financial Data and Key Metrics Changes - Total revenue for Q4 was $215.5 million, a 3% increase quarter-over-quarter, driven by a 4% increase in product revenue and a 1% increase in services revenue [26] - Non-GAAP earnings per share was $0.03, compared to $0.06 in the same quarter last year and a loss of $0.14 in Q3 [26] - Non-GAAP gross margin improved to 59.4%, up from 59.2% year-over-year and 56.7% in Q3 [33] - Free cash flow was $6.2 million, up from $2 million in Q3 and down from $18.9 million in the year-ago quarter [35] Business Line Data and Key Metrics Changes - Total product revenue was $141.5 million, with a book-to-bill ratio of approximately 1.1; revenue from newly introduced products grew 58% quarter-over-quarter [29] - Total services revenue was $74 million, growing 18% year-over-year and 1% quarter-over-quarter, driven largely by maintenance and cloud subscriptions [30] - New cloud subscription bookings grew by 31% year-over-year and 42% sequentially, reaching nearly $60 million in annual run rate [31] Market Data and Key Metrics Changes - The Americas contributed 55% to total revenue, EMEA 35%, and APJC 10%; there was improving momentum in government and education verticals in the U.S. [32] - The company noted a strong funnel of opportunities in the education sector, particularly due to increased e-Rate filings and earlier funding letters from the government [50] Company Strategy and Development Direction - The company revamped its go-to-market strategy and hired a new Chief Revenue Officer to enhance sales efforts and build new routes to market [16] - The operationalization of ExtremeCloud IQ on all major public cloud platforms positions the company uniquely in the market, offering public, private, or on-prem deployments [17] - The company aims to drive gross margins above 60% by leveraging a universal hardware platform and increasing subscription revenue as a percentage of total revenue [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a gradual recovery from COVID-19, expecting to emerge as a stronger and more competitive company [25] - The company anticipates Q1 revenue in the range of $220 million to $230 million, representing 4% sequential growth at the midpoint [37] - Management highlighted that the pandemic has leveled the playing field in marketing, resulting in unprecedented attendance at customer events and increased marketing qualified leads [18] Other Important Information - The company has maintained financial flexibility with $191 million in cash and equivalents at the end of Q4 [28] - The company is actively working on contact tracing solutions and partnerships to address emerging challenges related to social distancing [63][64] Q&A Session Summary Question: Clarification on universal products availability - Management confirmed that orders for universal products are being taken for the fiscal Q2, which corresponds to the calendar Q4 [41] Question: Differences in campus market expectations - Management noted that campus networks are adapting to more distributed environments due to remote work, with a healthy funnel of opportunities in the education sector [42][44] Question: Sustainability of demand in government and education - Management expressed confidence in sustained demand due to early funding letters and strong opportunities in the funnel [50] Question: Supply chain constraints impact - Management indicated that supply chain issues turned out to be a non-issue, with no accelerated buying baked into their plan [52] Question: Long-term outlook and recovery - Management emphasized a gradual recovery and the importance of maintaining a disciplined approach to future quarters [56] Question: Gross margins and product refresh - Management is optimistic about driving gross margins above 60% with the completion of the product refresh and increased subscription bookings [57] Question: Impact of the pandemic on competitive dynamics - Management noted that larger companies like Cisco may struggle to focus as effectively as they do, but no significant competitive responses have been observed [70] Question: Changes in customer dialogue regarding digital transformation - Management highlighted that discussions around digital transformation have become more relevant, with increased interest in cloud solutions [82]

| --- | --- | --- | |-------|-------------------------------------------------------|-------| | | | | | | Extreme Networks FQ4'20 Financial Results Aug 5, 2020 | | Cautionary Statement on Financial Measures 2 CONFIDENTIAL. ©EXTREME NETWORKS, INC. ALL RIGHTS RESERVED. Non-GAAP Measures: In preparing the accompanying information Extreme Networks Inc. (the "Company") has excluded, where applicable, the impact of certain Non-GAAP costs as listed at the end of this presentation. The Company believes these Non-GA ...