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Sep 30, 2021
Extreme Networks Q1 2022 Earnings Report
Reported strong bookings, driving double-digit year-over-year revenue growth and record quarterly operating and net income.
Key Takeaways
Extreme Networks reported a strong first quarter with double-digit year-over-year revenue growth and record quarterly operating and net income. The company's cloud solutions drove customer interest, resulting in a doubling of backlog. Despite supply chain challenges, Extreme exceeded its quarterly revenue outlook.
Revenue increased by 14% year-over-year.
GAAP EPS was $0.10, up from ($0.07) in Q1 last year.
Non-GAAP EPS was $0.21, up from $0.09 in Q1 last year.
SaaS subscription bookings grew 71% during the quarter.
Extreme Networks
Extreme Networks
Extreme Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
For its second quarter of fiscal 2022, ending December 31, 2021, the Company is targeting revenue between $265.0 million and $280.0 million.
Positive Outlook
- Total net revenue between $265.0 million and $280.0 million (GAAP)
- Gross margin between 55.4 % and 57.5 % (GAAP)
- Operating margin between 2.3 % and 6.4 % (GAAP)
- Net income between $0.00 and $11.9 million (GAAP)
- Net income per diluted share between $0.00 and $0.09 (GAAP)
Challenges Ahead
- Total net revenue between $265.0 million and $280.0 million (Non-GAAP)
- Gross margin between 57.0 % and 59.0 % (Non-GAAP)
- Operating margin between 9.5 % and 13.5 % (Non-GAAP)
- Net income between $18.4 and $28.9 million (Non-GAAP)
- Net income per diluted share between $0.14 and $0.21 (Non-GAAP)