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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
Extreme Networks
Extreme Networks
Extreme Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com 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