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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.
Extreme Networks
Extreme Networks
Extreme Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com 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.
- Amortization of product intangibles impact of 0.7% on gross and operating margin.