Extreme Networks Inc Stock Price, News & Analysis

Extreme Networks (Nasdaq: EXTR), a leader in cloud-driven networking, has been identified as the second-ranking vendor in the cloud-managed network services market by 650 Group. With a remarkable 101% growth year-over-year, Extreme outpaces the overall market growth of 38%. Its cloud management platform, ExtremeCloud IQ, is currently trusted to manage nearly 1.6 million network devices daily and is notable for its compliance with key security certifications. The company anticipates ongoing market expansion fueled by innovations in AI and analytics.

Extreme Networks, Inc. (Nasdaq: EXTR) announced the launch of the Extreme 9000 series, featuring the Extreme 9920 intelligent network visibility platform. Set for general availability in June 2021, the 9920 is designed with cloud-native principles for enhanced scalability, traffic aggregation, and advanced network packet processing. Key features include a flexible and scalable design, cloud-native composability, and a microservices API-first management. This innovation aims to support service providers in adapting to emerging 5G use cases and dynamic network demands.

Extreme Networks (Nasdaq: EXTR) has launched a public beta of ExtremeCloud™ IQ CoPilot, an AI-driven tool aimed at assisting IT network administrators. Set to enhance productivity, CoPilot promises to deliver explainable AI insights that tackle complex network issues with a 99% accuracy rate, minimizing false alarms. From June 2021, Pilot subscribers will gain automatic access to personalized recommendations. The platform, managing nearly 1.6 million network devices daily, supports compliance with regulations like GDPR and is recognized for its cloud-agnostic capabilities across major platforms.

Extreme Networks, Inc. (Nasdaq: EXTR) has announced its annual user conference, Extreme Connect, scheduled to take place virtually on May 26-27, 2021. The conference will feature keynotes from company executives, more than 30 sessions on topics like cloud migration and zero-trust security, and opportunities for networking. Attendees will gain insights into the company's roadmap and receive advice on maximizing their investments in Extreme products. The event is free and includes a mix of educational and entertainment activities.

Extreme Networks (Nasdaq: EXTR) has partnered with DWE ICT to implement a cloud-managed Wi-Fi 6 network at the Hard Rock Hotel Amsterdam American. This upgrade enhances guest connectivity and simplifies network management for the hotel's IT team. The 173-room hotel faced challenges with legacy wireless technology, but the new network supports advanced services such as contactless check-ins and in-room dining. The deployment has led to a significant reduction in Wi-Fi-related helpdesk tickets and improved overall performance, aligning with modern technological demands in hospitality.

On May 5, 2021, Extreme Networks (Nasdaq: EXTR) announced new sales leadership in the Americas and APJC regions. Paul Semak was appointed Senior Vice President of Americas Sales, bringing over 25 years of experience from Cisco. Jeff Hurmuses took on the role of Vice President of APJC Sales, previously leading significant market entries at Malwarebytes. Both leaders aim to drive growth as the company embraces digital transformation and cloud networking trends, with Semak emphasizing potential expansion in Canada and Latin America.

Extreme Networks, Inc. (Nasdaq: EXTR) has unveiled its conference schedule for May and June 2021. Key events include the Extreme Virtual Tech Talk on May 10, J.P. Morgan's Annual Global Technology Conference on May 24, and the third Annual Connect User Conference from May 26-27. Presentations will feature executives including CEO Ed Meyercord and CFO Rémi Thomas. Investors can access live webcasts and future Q&A sessions. Over 50,000 customers globally utilize Extreme's cloud-driven networking solutions, which incorporate AI and machine learning for enhanced digital transformation.

Extreme Networks reported third-quarter fiscal results for the period ending March 31, 2021, with revenue of $253.4 million, marking a 21% increase year-over-year. GAAP EPS improved to $0.03 from a loss of $0.37 in Q3 of the previous year, while non-GAAP EPS rose to $0.16. Gross margins also increased significantly, with GAAP gross margin at 58.7% compared to 53.1% last year. Operating cash flow stood at $24.7 million, contributing to free cash flow of $20.4 million.

The company anticipates continued double-digit revenue growth into Q4, driven by a demand for its cloud solutions.