Loading...
•
Mar 31, 2023
Extreme Networks Q3 2023 Earnings Report
Delivered record revenue, operating margin, and EPS and raised FY23 outlook.
Key Takeaways
Extreme Networks reported record revenue of $332.5 million, a 16% year-over-year increase, along with record operating margin and EPS. The company also raised its full year FY23 revenue outlook to 16% year-over-year.
Revenue reached $332.5 million, up 16% year-over-year.
SaaS ARR reached $117 million, up 22% year-over-year.
GAAP diluted EPS was $0.17, compared to $0.10 in Q3 last year.
Non-GAAP diluted EPS was $0.29, compared to $0.21 in Q3 last year.
Revenue by Segment
Forward Guidance
For its fourth quarter of fiscal 2023, ending June 30, 2023, the Company is targeting revenue between $340.0 and $350.0 million and GAAP net income per diluted share between $0.16 and $0.22.
Positive Outlook
- Total net revenue between $340.0 and $350.0 million (GAAP and Non-GAAP)
- GAAP gross margin between 57.7% and 59.7%
- GAAP operating margin between 8.9% and 10.8%
- GAAP net income per diluted share between $0.16 and $0.22
- Non-GAAP gross margin between 59.0% and 61.0%
Challenges Ahead
- Non-GAAP operating margin between 15.5% and 17.3%
- Non-GAAP net income per diluted share between $0.28 and $0.34
- Share-based compensation impact of 0.4% on gross margin rate.
- Share-based compensation impact of 4.8% on operating margin rate.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...