Extreme Networks Beats On Q4 Earnings, Expands Margins, Issues Robust Q1 Outlook

  • Extreme Networks Inc EXTR reported fourth-quarter FY21 revenue growth of 29% year-on-year to $278.1 million, beating the analyst consensus of $263.9 million.
  • Bookings grew 36% Y/Y driven by enterprise solutions demand. Cloud new subscription bookings jumped 111% Y/Y.
  • Revenue from Product rose 38% Y/Y to $195.8 million, and Service and subscription increased 11% Y/Y to $82.3 million.
  • The non-GAAP gross margin expanded 110 basis points to 60.5%, and the non-GAAP operating margin expanded 820 basis points to 13.4%.
  • Non-GAAP EPS of $0.19 beat the analyst consensus of $0.17.
  • Extreme Networks generated $57 million in operating cash flow and held $246.9 million in operating cash flow. It had a debt of $346.8 million.
  • Outlook: The company sees Q1 FY22 revenue of $250 million -$265 million against the analyst consensus of $255.8 million.
  • It sees non-GAAP EPS of $0.13-$0.20 compared to the analyst consensus of $0.15.
  • Price action: EXTR shares traded higher by 0.66% at $9.86 on the last check Wednesday.
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Posted In: EarningsNewsGuidanceSmall CapTechBriefs
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