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Dec 31, 2019
Extreme Networks Q2 2020 Earnings Report
Announced financial results for the second quarter of fiscal year 2020 and the completion of a $30 million accelerated share repurchase program.
Key Takeaways
Extreme Networks reported a revenue increase of 6% year-over-year, reaching $267.5 million. Non-GAAP EPS was $0.13, and the company achieved a Non-GAAP gross margin of 60%. The company also executed a $30 million accelerated share repurchase program.
Revenue was $267.5 million, up 6% year-over-year.
GAAP EPS was $(0.20).
Non-GAAP EPS was $0.13, flat year-over-year.
Non-GAAP gross margin was 60.0% compared to 58.2% in Q2 last year.
Revenue by Segment
Forward Guidance
For its third quarter of fiscal 2020, ending March 31, 2020, the Company is targeting total net revenue between $255.0 million and $265.0 million and Non-GAAP operating income margins in the 12-13% range by the end of fiscal year 2020.
Positive Outlook
- Expect to achieve Non-GAAP operating income margins in the 12-13% range by the end of fiscal year 2020.
- Expect to attain organic growth in the second half of calendar year 2020.
- Expect to attain our 15% Non-GAAP long term operating margin target in the second half of calendar year 2020.
- Confident in our plan based on the growing strength of our enterprise franchise in the market.
- Confident in our plan based on the market migration to cloud-based networking and our leadership position
Challenges Ahead
- Actual results could differ materially based on market conditions.
- Actual results could differ materially based on the factors set forth under “Forward-Looking Statements”.
- Targeting GAAP total net revenue between $255.0 million and $265.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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