NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Extreme Networks, Inc. ("Extreme Networks" or "the Company") (NASDAQ: EXTR) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acqui ...

SAN DIEGO, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Extreme Networks, Inc. (NASDAQ: EXTR) common stock between July 27, 2022 and January 30, 2024. Extreme is a global provider of cloud-based computer networking equipment and related services and support. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegati ...

NEW YORK, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Extreme Networks, Inc. ("Extreme" or the "Company") (NASDAQ: EXTR) securities between July 27, 2022 and January 30, 2024, inclusive (the "Class Period"). The lawsuit seeks to recover damages for the Company's investors under the ...

LOS ANGELES, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Extreme Networks, Inc. ("Extreme Networks" or "the Company") (NASDAQ: EXTR) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between July 27, 2022 and January 30, 2024, inclusive (the ...

SAN DIEGO, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers of Extreme Networks, Inc. (NASDAQ: EXTR) common stock between July 27, 2022 and January 30, 2024, inclusive (the "Class Period"), have until October 15, 2024 to seek appointment as lead plaintiff of the Extreme Networks class action lawsuit. Captioned Steamfitters Local 449 Pension & Retirement Security Funds v. Extreme Networks, Inc., No. 24-cv-05102 (N.D. Cal.), the Extreme Networks class action lawsuit ...

Financial Data and Key Metrics Changes - Fourth quarter revenue increased to $257 million, growing 22% sequentially, driven by a recovery in product sales [17] - Product revenue reached $153 million, up 43% sequentially, reflecting improved channel sell-through [17] - Gross margin achieved a high of 63.5%, up 230 basis points from the prior quarter and 330 basis points year-over-year [19] - Adjusted EPS for the fourth quarter was $0.19, up from a loss of $0.14 in the previous quarter [20] Business Line Data and Key Metrics Changes - Annual Recurring Revenue (ARR) from software subscriptions grew 29% year-over-year, indicating strong demand for cloud networking solutions [7] - Subscription deferred revenue increased by 23% year-over-year to $267 million, with total recurring revenue growing to 39% of fourth quarter revenue [18] - Services business showed year-over-year improvement in new service penetration rates and overall maintenance revenue, particularly in the Americas [19] Market Data and Key Metrics Changes - The company gained share by attracting a higher percentage of revenue from new customers, with 38 customers spending over $1 million in the fourth quarter [18] - The recovery in the EMEA region was noted, reflecting improved channel conditions rather than a sharp rebound in end customer demand [17] Company Strategy and Development Direction - The company is focusing on next-generation products to strengthen its competitive position and has eliminated excess inventory headwinds [5][6] - New go-to-market initiatives are contributing to growth, with a significant increase in Managed Service Provider (MSP) partners [10] - The company is leveraging its unique consumption-based billing model and poolable licensing to attract partners and customers [10] Management's Comments on Operating Environment and Future Outlook - Management expects sequential revenue growth to continue in the first and second quarters of fiscal 2025, with year-over-year growth anticipated for the full year [14] - The company is confident in its ability to navigate the competitive landscape, particularly as larger players face integration challenges [12][13] - Management highlighted the importance of technology differentiation and improved funnel visibility as key drivers for future growth [64] Other Important Information - The company has entered a co-innovation alliance with Intel to enhance its generative AI capabilities [12] - The increase in inventory reserves for obsolete products was $46.5 million, reflecting a strategic decision to focus on newer product lines [16] Q&A Session Summary Question: What macro assumptions are built into the FY-25 guidance? - Management expects a gradual recovery in the first quarter, accelerating in Q4 based on visibility from current opportunities [23][24] Question: What product capabilities are driving competitive displacements? - Key capabilities include the ability to manage competitor equipment during migration and the unique features of the enterprise Fabric [25][26] Question: How does Extreme's AI functionality compare to competitors? - Extreme is a leader in AI ops with its CoPilot application and is investing in generative AI to enhance network management [33][34] Question: What are the long-term top-line growth objectives? - Management aims for double-digit growth long-term, with expectations of a favorable competitive environment [46] Question: Where are the greatest market share opportunities geographically? - Significant opportunities are identified in the US market, with strategies to move upmarket in Europe [47] Question: Can you elaborate on the obsolescence charge and inventory levels? - The obsolescence charge was based on older generation products, and current inventory levels are expected to normalize [58][60]

Extreme Networks (EXTR) came out with a quarterly loss of $0.08 per share versus the Zacks Consensus Estimate of $0.13. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -161.54%. A quarter ago, it was expected that this maker of network infrastructure equipment would post a loss of $0.17 per share when it actually produced a loss of $0.19, delivering a surprise of -11.76%. Over the last four q ...

Exhibit 99.1 For more information, contact: Investor Relations Media Contact Stan Kovler Amy Aylward 919/595-4196 603/952-5138 Investor_relations@extremenetworks.com pr@extremenetworks.com Extreme Networks Reports Fourth Quarter and Fiscal Year 2024 Financial Results Revenue Growth in-line With Previous Outlook With 29% Year-over-Year Growth in SaaS ARR Morrisville, NC, August 7, 2024 -- Extreme Networks, Inc. ("Extreme") (Nasdaq: EXTR) today released financial results for its fourth quarter and fiscal year ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to ______ Commission file number 000-25711 EXTREME NETWORKS, INC. (Exact name of registrant as specified in its charter) DELAWARE 77-0430270 [State or other ...

Extreme Networks, Inc. (NASDAQ:EXTR) Q3 2024 Earnings Conference Call May 1, 2024 8:00 AM ET Company Participants Stan Kovler - VP-Corporate Strategy & IR Ed Meyercord - CEO Kevin Rhodes - CFO Conference Call Participants Alex Henderson - Needham Eric Martinuzzi - Lake Street Capital Markets Brian Hull - UBS David Kang - B. Riley Timothy Horan - Oppenheimer Christian Schwab - Craig-Hallum Operator Thank you for standing by and welcome to the Extreme Networks Third Quarter Fiscal Year 2024 Financial Results. ...