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Sep 30, 2022
Extreme Networks Q1 2023 Earnings Report
Reported record revenue driven by cloud subscription growth.
Key Takeaways
Extreme Networks reported record quarterly revenue of $297.7 million, an 11% increase year-over-year, fueled by cloud subscription results. The company's SaaS ARR reached $111 million, up 41% year-over-year. They reiterated their FY23 revenue growth outlook of 10-15%.
Revenue increased by 11% year-over-year to $297.7 million.
SaaS ARR grew by 41% year-over-year to $111.0 million.
GAAP diluted EPS was $0.09, compared to $0.10 in Q1 last year.
Non-GAAP diluted EPS was $0.20, compared to $0.21 in Q1 last year.
Extreme Networks
Extreme Networks
Extreme Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
For its second quarter of fiscal 2023, ending December 31, 2022, the Company is targeting revenue between $299.0 million and $309.0 million.
Positive Outlook
- Targeting revenue between $299.0 million and $309.0 million.
- Gross margin between 56.0% and 58.0% (GAAP) and between 57.5% and 59.5% (Non-GAAP)
- Operating margin between 5.9% and 7.8% (GAAP) and between 13.0% and 14.9% (Non-GAAP)
- Net income per diluted share between $0.09 and $0.14 (GAAP) and between $0.21 and $0.26 (Non-GAAP)
- Shares outstanding used in calculating EPS: 133.9 million