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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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