Extreme Networks Cuts Q2 Revenue Outlook to $294 to $297 Million
Extreme Networks said it now expects second-quarter revenue of approximately $294 million to $297 million, below its prior outlook of $312 million to $327 million. The company cited industry headwinds, including channel digestion and elongated sales cycles, and said multiple large deals pushed into future quarters. Full second-quarter results will be reported on January 31, 2024.
- Q2 revenue now expected at approximately $294 million to $297 million, versus the prior outlook of $312 million to $327 million.
- Gross margin expected toward the higher end of the prior guidance range; annualized subscription and support revenue expected at about $430 million, with 41% year-over-year subscription growth.
- Ending cash balance for the quarter was $221.4 million, net of $25 million in share repurchases during the quarter.
- Full second-quarter earnings will be reported January 31, 2024, with a webcast at 8:00 a.m. ET.