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Dec 31, 2020
Extreme Networks Q2 2021 Earnings Report
Achieved record non-GAAP gross margin and double-digit operating profit.
Key Takeaways
Extreme Networks reported Q2 fiscal year 2021 financial results with a revenue of $242.1 million, a GAAP EPS of $(0.02), and a non-GAAP EPS of $0.13. The company achieved record non-GAAP gross margins and double-digit operating margin two quarters ahead of prior expectations.
Revenue $242.1 million, down 9% year-over-year and up 3% quarter-over-quarter
GAAP EPS $(0.02), up from ($0.20) in Q2 last year
Non-GAAP EPS $0.13, up from $0.11 in Q2 last year
Non-GAAP operating margin 10.2%, compared to 9.0% in Q2 last year
Revenue by Segment
Forward Guidance
Extreme reiterates the Q3 business outlook initially provided on January 27, 2021.
Positive Outlook
- Total Net Revenue between $240.0 and $250.0 million (GAAP and Non-GAAP)
- GAAP Gross Margin between 58.4% and 59.5%
- Non-GAAP Gross Margin between 61.5% and 62.5%
- GAAP Operating Margin between 1.1% and 3.7%
- Non-GAAP Operating Margin between 9.0% and 11.3%
Challenges Ahead
- GAAP Operating Expenses between $137.6 and $139.6 million
- Non-GAAP Operating Expenses between $126.0 and $128.0 million
- GAAP Net Income (loss) between $(5.5) and $1.1 million
- GAAP Net Income (loss) per diluted share between $(0.04) and $0.01
- Shares outstanding used in calculating GAAP EPS : 124.7 - 126.6 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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