EXTR FY 2022 Earnings Report — Extreme Networks, Inc. Revenue & Financial Results | Market Cap Arena

Extreme Networks, Inc.EXTR

FY 2022 Earnings

Reported August 26, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$1.1B	—	$1.0B	—	10.2%
Op. Income	$73M	—	$39M	—	87.2%
Gross Margin	56.3%	—	56.8%	—	-0.5pp
Net Margin	4.0%	—	0.2%	—	3.8pp
EPS (Diluted)	$0.33	—	$0.02	—	2071.1%
Free Cash Flow	$113M	—	$127M	—	-11.5%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$486M
GROSS PROFIT	$627M
R&D Expenses	$191M
Selling & Marketing	$294M
General & Administrative	$69M
SG&A Expenses	$363M
Other Expenses	$0
Operating Expenses	$554M
Cost & Expenses	$1.0B
OPERATING INCOME	$73M
Interest Income	$412.0K
Interest Expense	$13M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$52M
Income Tax Expense	$8M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$55M
EBIT	$65M
EBITDA	$120M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$486M
GROSS PROFIT	$627M
R&D Expenses	$191M
Selling & Marketing	$294M
General & Administrative	$69M
SG&A Expenses	$363M
Other Expenses	$0
Operating Expenses	$554M
Cost & Expenses	$1.0B
OPERATING INCOME	$73M
Interest Income	$412.0K
Interest Expense	$13M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$52M
Income Tax Expense	$8M
Net Income from Continuing Ops	$44M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$44M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$44M
D&A	$55M
EBIT	$65M
EBITDA	$120M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$44M
Depreciation & Amortization	$40M
Stock-Based Compensation	$43M
Deferred Income Tax	$682.0K
Other Non-Cash Items	$20M
Change in Working Capital	-$20M
OPERATING CASH FLOW	$128M
Capital Expenditure	-$15M
Acquisitions (Net)	-$70M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$85M
Net Debt Issuance	-$38M
Common Stock Repurchased	-$45M
Common Dividends Paid	$0
Other Financing Activities	-$12M
NET CASH FROM FINANCING	-$95M
FREE CASH FLOW	$113M
Net Change in Cash	-$52M

Balance Sheet

Item	Amount
Cash & Equivalents	$195M
Short-Term Investments	$0
Net Receivables	$184M
Inventory	$49M
Other Current Assets	$61M
TOTAL CURRENT ASSETS	$489M
PP&E (Net)	$86M
Goodwill	$400M
Intangible Assets	$33M
Long-Term Investments	$0
Tax Assets	$8M
Other Non-Current Assets	$53M
TOTAL NON-CURRENT ASSETS	$579M
TOTAL ASSETS	$1.1B
Account Payables	$84M
Short-Term Debt	$47M
Deferred Revenue	$238M
Other Current Liabilities	$63M
TOTAL CURRENT LIABILITIES	$500M
Long-Term Debt	$271M
Deferred Revenue NC	$163M
Deferred Tax Liabilities	$8M
Other Non-Current Liabilities	$3M
TOTAL NON-CURRENT LIABILITIES	$478M
TOTAL LIABILITIES	$978M
Common Stock	$140.0K
Additional Paid-In Capital	$1.1B
Retained Earnings	-$934M
Treasury Stock	-$88M
Accum. Other Comp. Income	-$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$90M
Minority Interest	$0
TOTAL EQUITY	$90M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$365M
Net Debt	$171M