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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.
Extreme Networks
Extreme Networks
Extreme Networks Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.com 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