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Jun 30, 2023
Extreme Networks Q4 2023 Earnings Report
Reported a year of exceptional performance with double-digit revenue growth and significant operating leverage.
Key Takeaways
Extreme Networks reported strong Q4 and FY23 results, with Q4 revenue up 31% year-over-year and GAAP EPS growth of 76%. The company doubled its cash generation to $235 million in free cash flow for the year and improved its balance sheet to a net cash position.
Revenue increased by 31% year-over-year.
GAAP diluted EPS increased to $0.19, compared to $0.04 in the prior year quarter.
Non-GAAP diluted EPS increased to $0.33, compared to $0.15 in the prior year quarter.
Generated net cash flow from operations of $80.7 million and free cash flow of $75.5 million.
Revenue by Segment
Forward Guidance
For its first quarter of fiscal 2024, ending September 30, 2023, the Company is targeting revenue between $342.0 million and $352.0 million.
Positive Outlook
- Total net revenue between $342.0 million and $352.0 million.
- Gross margin between 58.6% and 60.6%.
- Operating margin between 7.5% and 9.8%.
- Net income per diluted share between $0.12 and $0.18.
- Non-GAAP net income per share – diluted between $0.28 and $0.33.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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