Extreme Networks Inc Stock Price, News & Analysis

Extreme Networks (Nasdaq: EXTR) has successfully deployed its ExtremeCloud™ IQ platform across 28 locations in 17 countries within 24 hours, achieving a fully cloud-managed enterprise. This deployment included hundreds of Wi-Fi 6 access points and fabric-enabled switches, enhancing connectivity and operational efficiency. The platform offers unlimited data analytics, which will improve processes across various teams. Additionally, ExtremeCloud IQ manages over 1 million network devices, processing over 6 petabytes of data daily, and is ISO/IEC 27001 certified.

Extreme Networks (Nasdaq: EXTR) announced that the Wisconsin Center, host of the 2020 Democratic National Convention, leverages ExtremeCloud™ IQ and Wi-Fi 6 technology to ensure reliable connectivity for nearly 500,000 annual visitors. The venue's IT team successfully transformed their network into a revenue generator by monetizing Wi-Fi access. This cloud-managed networking solution allows for end-to-end security and efficient management across multiple venues, enhancing attendee experiences and providing valuable data for event organizers. The benefits of this partnership will be discussed at the upcoming Extreme Connect Virtual conference on September 16-17, 2020.

Extreme Networks (Nasdaq: EXTR) announced its annual user conference, Extreme Connect Virtual, scheduled for September 16-17, 2020. This event will showcase the company's strategies for effortless networking and unveil new products aimed at aiding digital transformation. Attendees can participate in 30 IT strategy sessions and workshops. Key discussions will include topics like digital transformation and the future of Wi-Fi and 5G. The conference will also feature an esports tournament and live entertainment, enhancing attendee engagement.

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.