Extreme Networks Inc Stock Price, News & Analysis

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.

Extreme Networks (EXTR) has been selected as the official Wi-Fi solutions provider for the Olympiastadion Berlin in preparation for the 2024 UEFA European Football Championship. This partnership will see the deployment of a high-performance Wi-Fi 6 network, the largest public deployment of its kind in a European stadium, ensuring robust connectivity for over 74,000 spectators. The advanced network will enhance fan experiences and support critical operations. Extreme Networks continues to innovate in cloud-driven networking solutions, further solidifying its position in the sports and entertainment sectors.

Extreme Networks, Inc. (Nasdaq: EXTR) announced its intent to acquire Ipanematech SAS, the SD-WAN division of Infovista, for €60 million (approx. $73 million) in cash. This acquisition will enhance ExtremeCloud's portfolio, adding cloud-managed SD-WAN and security solutions vital for the evolving Infinite Enterprise. Ipanema's technology will enable superior application performance in diverse network conditions and deepen Extreme's European presence. The deal is projected to be neutral to Non-GAAP EPS in FY22 and accretive in FY23, expected to close in October 2021.

Extreme Networks (Nasdaq: EXTR) has announced its upcoming virtual investor conference schedule for August and September 2021. Key presentations will include Ed Meyercord, President & CEO, at the Oppenheimer 24th Annual Technology Conference on August 11, and Rémi Thomas, CFO, at the Jefferies Semiconductor Summit on September 1. Live webcasts will be available on the Investor Relations section of Extreme's website, ensuring accessibility for stakeholders.

The company continues to focus on enhancing its cloud-driven networking solutions, trusted by over 50,000 customers worldwide.

Extreme Networks announces the launch of its third course in the Extreme Academy Live IT training program, titled Advance Your Career, starting on August 5. This four-week, free course aims to equip participants with knowledge of the networking industry's role in business outcomes without requiring prior IT experience. The program, which already has over 11,000 enrollees, includes real-world examples and aims to enhance both technical and non-technical skills necessary for success in IT.

Extreme Networks reported Q4 2021 revenue of $278.1 million, a 29% increase year-over-year, with a GAAP EPS of $0.08. For the full year, total revenue reached $1.009 billion, up 6% from 2020. The company achieved a non-GAAP operating margin of 10.9% and generated $127.4 million in free cash flow. Notably, bookings grew 36% year-over-year in Q4, driven by strong demand for its solutions. However, the company faces supply chain challenges that impact delivery timelines, along with an increased product backlog.

Extreme Networks (Nasdaq: EXTR) announced the launch of its new enterprise-grade Wi-Fi 6E access point, the Extreme AP4000, capable of operating in the 6 GHz frequency spectrum. Designed for high-density environments like schools and healthcare facilities, the AP4000 enhances connectivity and security while supporting a dense device population. Priced from $999 USD, this access point provides advanced features including high-efficiency data rates up to 3.9 Gbps and low latency connections. This launch positions Extreme as a leader in Wi-Fi 6E deployment.

Extreme Networks (Nasdaq: EXTR) has appointed Calvin Rowland as Senior Vice President of Software-as-a-Service (SaaS). With over 25 years of experience, including leadership roles at F5 Networks, Rowland will drive SaaS initiatives and foster ecosystem programs. His expertise is expected to enhance Extreme's SaaS portfolio and consumer-centric solutions. Nabil Bukhari, CTO of Extreme, emphasized the significance of consumer-centric leadership in evolving their networking solutions. Rowland's proven track record includes building strategic alliances with major tech companies.