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Jun 30, 2022
Extreme Networks Q4 2022 Earnings Report
Reported flat revenue year-over-year and double-digit growth in bookings and revenue for FY22.
Key Takeaways
Extreme Networks reported flat revenue year-over-year for the fourth quarter of fiscal year 2022. However, the company achieved double-digit growth in both bookings and revenue for the full fiscal year, with revenue exceeding $1.1 billion for the first time. The company exited the year with a record product backlog of $513 million. The company is reiterating FY23 revenue growth of 10-15%.
Revenue was $278.2 million, flat year-over-year.
SaaS ARR was $103 million, up 47% year-over-year.
GAAP EPS was $0.04, compared to $0.08 in Q4 last year.
Non-GAAP EPS was $0.15, compared to $0.19 in Q4 last year.
Revenue by Segment
Forward Guidance
For its first quarter of fiscal 2023, ending September 30, 2022, the Company is targeting revenue between $279.0 million and $289.0 million.
Positive Outlook
- Total net revenue between $279.0 million and $289.0 million
- Gross margin between 55.4% and 57.4%
- Operating margin between 4.6% and 7.0%
- Net income between $6.3 million and $13.8 million
- Net income per diluted share between $0.05 and $0.10
Challenges Ahead
- Operating expenses between $141.7 million and $145.6 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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