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Dec 31, 2021
Extreme Networks Q2 2022 Earnings Report
Extreme Networks reported record quarterly revenue and net income driven by demand for cloud-driven networking and emerging 5G solutions.
Key Takeaways
Extreme Networks reported strong Q2 fiscal year 2022 financial results, achieving record quarterly revenue and net income. The company's revenue increased by 16% year-over-year, and SaaS ARR grew by 55%. Strong demand across customer verticals resulted in over $90 million of incremental backlog.
Revenue reached $280.9 million, a 16% increase year-over-year.
SaaS ARR grew by 55% year-over-year, reaching $88.3 million.
GAAP EPS was $0.10, up from ($0.02) in Q2 last year.
Non-GAAP EPS was $0.21, up from $0.13 in Q2 last year.
Extreme Networks
Extreme Networks
Extreme Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com Forward Guidance
For its third quarter of fiscal 2022, ending March 31, 2022, the Company is targeting total net revenue between $276.0 million and $286.0 million and non-GAAP operating margin between 10.5% and 12.7%.
Positive Outlook
- Targeting total net revenue between $276.0 million and $286.0 million (GAAP).
- Targeting gross margin between 55.8% and 57.8% (GAAP).
- Targeting operating margin between 3.9% and 6.4% (GAAP).
- Targeting net income between $5.1 million and $12.6 million (GAAP).
- Targeting net income per diluted share between $0.04 and $0.09 (GAAP).
Challenges Ahead
- Targeting total net revenue between $276.0 million and $286.0 million (Non-GAAP).
- Targeting gross margin between 57.3% and 59.3% (Non-GAAP).
- Targeting operating margin between 10.5% and 12.7% (Non-GAAP).
- Targeting net income between $21.3 million and $28.7 million (Non-GAAP).
- Targeting net income per diluted share between $0.16 and $0.21 (Non-GAAP).