Extreme Networks Inc Stock Price, News & Analysis

Extreme Networks (EXTR) reported a robust financial performance for Q1 FY2022, with revenues reaching $267.7 million, a 14% increase year-over-year. GAAP EPS improved to $0.10 from (0.07), showing strong profitability growth. Non-GAAP EPS rose to $0.21, up 133% compared to the previous year. Operating cash flow was $40.3 million, and free cash flow increased by 70% to $36.8 million. Despite supply chain challenges, Extreme doubled its backlog to over $200 million. The company is optimistic about future growth, expecting double-digit organic revenue growth for FY22.

Extreme Networks (Nasdaq: EXTR) announced that Novant Health has deployed its enterprise-grade Wi-Fi 6E solution, the AP4000 access point, enhancing high-speed Wi-Fi across its facilities. This implementation supports secure connectivity for critical healthcare applications and devices, addressing the needs of a high-density network environment. Wi-Fi 6E's advanced features enable better reliability and security, leveraging 6 GHz channels to alleviate congestion. This deployment marks an important step in delivering innovative healthcare services and improving patient care experiences.

Extreme Networks (Nasdaq: EXTR) extended its Lending Enablement and Assistance Program (LEAP) until June 2022, aimed at providing operational and financial support to channel partners and customers in the US and Canada. Initially launched in response to COVID-19, LEAP offers flexible financing, with first payments deferred up to 180 days and loans starting at 0% interest. Partners can access complimentary training and maintain partner program status with attractive rebates. This extension reflects Extreme's commitment to supporting partners in meeting growing demands for cloud-managed networking solutions.

Extreme Networks (Nasdaq: EXTR) announced plans to release its financial results for the first fiscal quarter ending September 30, 2021. The announcement will occur on November 2, 2021, prior to market open. This will be followed by an earnings conference call at 8:00 a.m. ET. Investors can participate by accessing the webcast via their investor site. The company continues to enhance cloud-driven networking solutions and supports over 50,000 customers globally, leveraging machine learning and AI.

Extreme Networks (Nasdaq: EXTR) has partnered with Stanford Athletics to enhance the fan experience at Stanford Stadium and Maples Pavilion through high-density Wi-Fi 6 networks. The installation includes Wi-Fi access points, enabling improved connectivity for fans. Using ExtremeAnalytics™, Stanford can monitor Wi-Fi usage and streamline gameday operations. The network supports mobile ticketing and will facilitate the rollout of new digital services for fans. Comcast Business is the systems integrator and managed services provider for this deployment.

Extreme Networks (Nasdaq: EXTR) announced the successful implementation of WBA OpenRoaming technology at the Polytechnic Institute of Viseu (IPV) in Portugal, enabling seamless and secure connections to a high-speed Wi-Fi 6 network for students and faculty. IPV is the first institution in Portugal to adopt OpenRoaming, which simplifies user connectivity, reduces IT workload, and enhances network security. This collaboration aims to improve educational resources, provide uninterrupted internet access, and support future programming without extensive manual user management.

Extreme Networks (Nasdaq: EXTR) has deployed a cloud-driven network for Colruyt Group, enhancing connectivity across its retail stores, warehouses, and offices in Western Europe. Colruyt, which operates over 600 stores, faced a network capacity issue, prompting the transition to Extreme's advanced networking solutions, including the ExtremeCloud IQ management platform. This upgrade will provide seamless connectivity, network insights, proactive troubleshooting, and comprehensive support, ultimately improving customer and employee experiences.

Extreme Networks (Nasdaq: EXTR) has extended its partnership with the NFL as the Official Wi-Fi Network Solutions Provider and Official Wi-Fi Analytics Provider through 2024. This extension includes new Wi-Fi 6 deployments in stadiums for teams like the Ravens, Packers, Patriots, and Seahawks, enhancing in-stadium experiences and analytics capabilities. Currently, Extreme's solutions support 24 NFL stadiums and will expand to five additional stadiums. The company emphasizes improved fan experiences, real-time analytics for operations, and greater network efficiency.

Extreme Networks has completed the acquisition of Ipanema, a cloud-native SD-WAN division of Infovista, for €60 million. This acquisition enhances Extreme's ExtremeCloud portfolio with new cloud-managed SD-WAN and security solutions, aiming to lead in cloud networking. Ipanema has over 400 customers and its services are deployed in over 100,000 sites. The move is expected to be neutral to non-GAAP EPS in FY22 and accretive in FY23, while establishing a technology center in Europe. Extreme reported a 26% growth in cloud-managed services, outperforming the market's 5% growth.