EXTR

MKT CAP:$2B

Extreme Networks, Inc.

Market Cap

$2B

Technology·Communication Equipment·🇺🇸 United States·NASDAQ

Technology·Communication·🇺🇸·NASDAQ

Stock Price

$18.07+$1.53 (+9.25%)

Apr 17, 2026

Company Details

Extreme Networks, Inc. provides software-driven networking solutions worldwide. It designs, develops, and manufactures wired and wireless network infrastructure equipment; and develops software for network management, policy, analytics, sec...

CEO

Edward Meyercord

IPO Date

Apr 9, 1999

Website

www.extremenetworks.com

Key Metrics TTM

Revenue

$1.2B

+20.0% YoY

Net Income

$9M

EPS (Diluted)

$0.07

Free Cash Flow

$136M

Revenue / Share

$9.01

Gross Margin

61.3%

Operating Margin

2.7%

Net Margin

0.7%

FCF Margin

11.1%

P/S

1.9x

P/E

256.6x

Earnings Reports

Q3 2026

Apr 29, 2026

PENDING

Q2 2026

Jan 29, 2026

$318M+13.8%EPS $0.06

Q1 2026

Oct 30, 2025

$310M+15.2%EPS $0.04

FY 2025

Aug 18, 2025

$1.1B+2.0%EPS -$0.06

Q4 2025

Aug 18, 2025

$307M+19.6%EPS -$0.06

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$286M	$159M	$21M
Q4 22	$278M	$154M	$12M
Q1 23	$298M	$166M	$18M
Q2 23	$318M	$181M	$24M
Q3 23	$333M	$191M	$31M
Q4 23	$364M	$214M	$38M
Q1 24	$353M	$212M	$39M
Q2 24	$296M	$183M	$19M
Q3 24	$211M	$119M	-$48M
Q4 24	$257M	$114M	-$39M
Q1 25	$269M	$170M	-$5M
Q2 25	$279M	$175M	$13M
Q3 25	$285M	$175M	$10M
Q4 25	$307M	$189M	-$1M
Q1 26	$310M	$188M	$11M
Q2 26	$318M	$195M	$13M

Valuation

Quarter	P/S	P/E
Q3 22	2.1x	47.7x
Q4 22	2.1x	53.0x
Q1 23	2.1x	53.1x
Q2 23	2.0x	48.1x
Q3 23	1.9x	40.4x
Q4 23	1.8x	30.0x
Q1 24	1.7x	24.9x
Q2 24	1.7x	29.2x
Q3 24	1.9x	—
Q4 24	2.1x	—
Q1 25	2.3x	—
Q2 25	2.3x	—
Q3 25	2.2x	—
Q4 25	2.1x	—
Q1 26	2.0x	271.2x
Q2 26	1.9x	256.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$2M	-$3M
Q4 22	$64M	$60M
Q1 23	$50M	$47M
Q2 23	$71M	$67M
Q3 23	$48M	$46M
Q4 23	$81M	$76M
Q1 24	$76M	$71M
Q2 24	$34M	$29M
Q3 24	-$70M	-$74M
Q4 24	$15M	$11M
Q1 25	$19M	$12M
Q2 25	$22M	$16M
Q3 25	$30M	$24M
Q4 25	$82M	$75M
Q1 26	-$14M	-$21M
Q2 26	$50M	$57M

Capital Expenditures

Quarter	CapEx
Q3 22	$4M
Q4 22	$4M
Q1 23	$3M
Q2 23	$3M
Q3 23	$2M
Q4 23	$5M
Q1 24	$4M
Q2 24	$6M
Q3 24	$4M
Q4 24	$4M
Q1 25	$7M
Q2 25	$5M
Q3 25	$6M
Q4 25	$7M
Q1 26	$7M
Q2 26	$7M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+12.7%	+9.6%
Q4 22	+0.0%	+2.5%
Q1 23	+11.2%	+12.9%
Q2 23	+13.3%	+13.0%
Q3 23	+16.5%	+13.8%
Q4 23	+30.8%	+22.2%
Q1 24	+18.6%	+12.6%
Q2 24	-6.9%	-6.0%
Q3 24	-36.5%	-14.1%
Q4 24	-29.5%	-9.2%
Q1 25	-23.8%	-12.9%
Q2 25	-5.7%	-3.7%
Q3 25	+34.8%	+5.8%
Q4 25	+19.6%	+4.3%
Q1 26	+15.2%	+9.1%
Q2 26	+13.8%	+14.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$11M	3.8%
Q4 22	$11M	3.9%
Q1 23	$14M	4.6%
Q2 23	$17M	5.5%
Q3 23	$15M	4.6%
Q4 23	$17M	4.6%
Q1 24	$20M	5.6%
Q2 24	$21M	7.1%
Q3 24	$18M	8.5%
Q4 24	$18M	7.0%
Q1 25	$20M	7.3%
Q2 25	$21M	7.7%
Q3 25	$20M	7.2%
Q4 25	$21M	6.8%
Q1 26	$22M	7.0%
Q2 26	$23M	7.2%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 22	$50M	—	—	$89M
Q4 22	$45M	—	—	$97M
Q1 23	$51M	—	—	$97M
Q2 23	$53M	—	—	$105M
Q3 23	$55M	—	—	$106M
Q4 23	$56M	—	—	$120M
Q1 24	$58M	—	—	$116M
Q2 24	$53M	—	—	$111M
Q3 24	$55M	$25M	$88M	—
Q4 24	$47M	$25M	$81M	—
Q1 25	$54M	$37M	$81M	—
Q2 25	$55M	$26M	$80M	—
Q3 25	$56M	$30M	$80M	—
Q4 25	$56M	$47M	$86M	—
Q1 26	$58M	$29M	$89M	—
Q2 26	$58M	$31M	$89M	—

Revenue Segments

Quarter	Product	Service And Subscription	Subscription And Support
Q3 22	$198M	$87M	—
Q4 22	$187M	$91M	—
Q1 23	$206M	$91M	—
Q2 23	$223M	$95M	—
Q3 23	$241M	$91M	—
Q4 23	$262M	$102M	—
Q1 24	$253M	—	$100M
Q2 24	$187M	—	$110M
Q3 24	$106M	—	$105M
Q4 24	$153M	—	$104M
Q1 25	$162M	—	$107M
Q2 25	$172M	—	$107M
Q3 25	$178M	—	$106M
Q4 25	$192M	—	$115M
Q1 26	$194M	—	$116M
Q2 26	$198M	—	$120M

Revenue by Geography

Quarter	Americas	Asia Pacific	Emea	Other Americas
Q1 24	$196M	$14M	$144M	$13M
Q2 24	$163M	$23M	$111M	$13M
Q3 24	$134M	$18M	$59M	$10M
Q4 24	$135M	$13M	$109M	$10M
Q1 25	$165M	$19M	$85M	$12M
Q2 25	$131M	$20M	$128M	$12M
Q3 25	$160M	$18M	$107M	$14M
Q4 25	$140M	$35M	$131M	$11M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$167M	$0	$167M
Q4 22	$195M	$0	$195M
Q1 23	$198M	$0	$198M
Q2 23	$203M	$0	$203M
Q3 23	$203M	$0	$203M
Q4 23	$235M	$0	$235M
Q1 24	$224M	$0	$224M
Q2 24	$221M	$0	$221M
Q3 24	$151M	$0	$151M
Q4 24	$157M	$0	$157M
Q1 25	$160M	$0	$160M
Q2 25	$170M	$0	$170M
Q3 25	$185M	$0	$185M
Q4 25	$232M	$0	$232M
Q1 26	$209M	$0	$209M
Q2 26	$220M	$0	$220M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	133M	-0.2%	+2.6%
Q4 22	133M	-0.6%	+0.2%
Q1 23	133M	+0.2%	-0.2%
Q2 23	134M	+1.1%	+0.6%
Q3 23	133M	-1.1%	-0.3%
Q4 23	133M	-0.1%	+0.2%
Q1 24	133M	+0.4%	+0.4%
Q2 24	132M	-1.5%	-2.2%
Q3 24	129M	-1.7%	-2.8%
Q4 24	130M	+0.6%	-2.1%
Q1 25	131M	+0.8%	-1.7%
Q2 25	134M	+2.2%	+2.0%
Q3 25	135M	+0.4%	+4.1%
Q4 25	133M	-1.3%	+2.1%
Q1 26	135M	+1.7%	+3.0%
Q2 26	135M	+0.2%	+0.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$117.0K	2K
Q4 22	$105.3K	3K
Q1 23	$112.6K	3K
Q2 23	$120.4K	3K
Q3 23	$125.8K	3K
Q4 23	$127.7K	3K
Q1 24	$124.0K	3K
Q2 24	$104.0K	3K
Q3 24	$74.1K	3K
Q4 24	$96.6K	3K
Q1 25	$101.4K	3K
Q2 25	$105.2K	3K
Q3 25	$107.1K	3K
Q4 25	$109.2K	3K
Q1 26	$110.4K	3K
Q2 26	$113.1K	3K

Revenue / Employee