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Jun 30, 2020
Extreme Networks Q4 2020 Earnings Report
Revenue growth drove return to non-GAAP profitability and cash generation.
Key Takeaways
Extreme Networks reported its Q4 fiscal year 2020 financial results, showing a return to non-GAAP profitability and positive cash flow, despite a 15% year-over-year revenue decrease. Revenue reached $215.5 million, with non-GAAP EPS at $0.03. The company ended the quarter with $194 million in cash and cash equivalents.
Revenue was $215.5 million, a 15% decrease year-over-year but a 3% increase quarter-over-quarter.
GAAP EPS was $(0.18), down from $(0.14) in Q4 last year.
Non-GAAP EPS was $0.03, down from $0.06 in Q4 last year.
Free Cash Flow was $6.2 million.
Revenue by Segment
Forward Guidance
For its first quarter of fiscal 2021, ending September 30, 2020, the Company is targeting revenue between $220.0 million and $230.0 million.
Positive Outlook
- Targeting revenue between $220.0 million and $230.0 million.
- Targeting gross margin between 55.8% and 56.8% (GAAP) and between 59.0% and 60.0% (Non-GAAP).
- Targeting operating margin between (3.8)% and (2.0)% (GAAP) and between 4.2% and 5.8% (Non-GAAP).
- Targeting net loss between $(16.9) million and $(13.1) million (GAAP).
- Targeting net income between $0.7 million and $4.9 million (Non-GAAP).
Challenges Ahead
- Targeting operating expenses between $131.1 million and $135.1 million (GAAP).
- Targeting operating expenses between $120.6 million and $124.6 million (Non-GAAP).
- Targeting loss per basic share between $(0.14) and $(0.11) (GAAP).
- Shares outstanding used in calculating GAAP EPS is 121.7 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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