Extreme Networks Inc Stock Price, News & Analysis

Extreme Networks has been identified as the fastest-growing vendor in Omdia's 2020 Cloud Managed Networking Report, showcasing a significant increase in market share from 6% to 10% among the top five vendors. The report reveals that the global cloud-managed networking market grew by $2.6 billion (29%) in 2019, greatly surpassing traditional managed networking growth of 3%. Extreme's success follows its acquisition of Aerohive Networks, with a focus on flexible management solutions. The company's cloud management platform, ExtremeCloud™ IQ, sets a new industry standard.

Extreme Networks, Inc. (Nasdaq: EXTR) revealed its conference schedule for August and September 2020. Key events include the Oppenheimer Virtual Conference on August 11, BMO Virtual Technology Summit on August 26, Jefferies Virtual Summit on September 2, and the Citi Global Technology Virtual Conference on September 9. Additionally, the company will host its Third Annual Connect Virtual User Conference on September 16-17, featuring keynotes, technical breakouts, and demos. Live webcasts will be available on their Investor Relations website.

Extreme Networks reported Q4 FY20 results with revenue at $215.5 million, down 15% year-over-year, yet up 3% from Q3. GAAP EPS was $(0.18) compared to $(0.14) last year. However, non-GAAP EPS was $0.03, down from $0.06.

Gross margins increased slightly to 56.0%, with operating margins at (6.1)%. The company achieved sequential product revenue growth of 4% and 18% growth in subscription and services revenue.

Extreme Networks, Inc. (Nasdaq: EXTR) announced the deployment of its wireless networking solutions by Madrid Digital to enhance digital healthcare access for over 1.5 million citizens in Madrid, Spain. The new clinical-grade Wi-Fi network will connect hospitals and care centers, enabling remote video consultations and secure communication for nearly 17,000 healthcare staff across 30 locations. The implementation of ExtremeSwitching™ and ExtremeWireless™ technologies facilitates high-performance connectivity, advanced analytics, and centralized network management, ensuring efficient service delivery and optimized patient care.

Extreme Networks (Nasdaq: EXTR) will reveal its financial results for the fourth fiscal quarter and year ended June 30, 2020, on August 5, 2020, prior to market opening. An earnings conference call and webcast will be held at 8 a.m. ET. Investors can access the live webcast at this link. The company supports over 50,000 customers globally with its cloud-driven networking solutions.

Extreme Networks (Nasdaq: EXTR) has appointed Nabil Bukhari as Chief Technology Officer while he continues as Chief Product Officer. This dual role allows Nabil to enhance the company's 'first mover' technology strategy, focusing on cloud-driven networking solutions that improve customer experiences. President Ed Meyercord praised Nabil's leadership and innovative approach. With over 20 years of experience, including leadership roles at Cisco and Seagate, Nabil aims to drive customer success and accelerate networking innovation.

Extreme Networks (Nasdaq: EXTR) has launched Extreme Academy, a global initiative partnering with colleges and universities to provide an academic curriculum for IT professionals. This program covers networking, security, cloud fundamentals, and AI, equipping students with practical skills and certifications to enhance career prospects. Offered at no cost to educational partners, the initiative includes flexible lesson plans and real-world applications, aiming to bridge the gap between industry needs and academic training. Over 17,000 schools currently use Extreme's networking solutions.

Extreme Networks (EXTR) announced that its cloud management platform, ExtremeCloud IQ, is now operational on Amazon Web Services, Google Cloud Platform, and Microsoft Azure. This makes Extreme Networks the only provider to deliver an ISO/IEC 27001 certified cloud networking solution across these major platforms. Customers benefit from unparalleled flexibility in selecting cloud hosting options, with access to over 1 million managed devices and 6 petabytes of data processed daily. Starting July 1, new subscribers will receive unlimited data access, a first in the industry.

Extreme Networks has appointed Joe Vitalone as the new Chief Revenue Officer. With over 35 years of experience in sales and marketing, Vitalone will lead global sales and channel teams, reporting to Ed Meyercord, President and CEO. His past roles include senior positions at Mitel and ShoreTel, where he contributed to significant stock market successes. Vitalone aims to enhance Extreme's cloud-driven networking solutions and revenue growth. This leadership change is positioned to strengthen market share and partnerships globally.