Extreme Networks Q2 revenue falls 6.9% to $296.4 million; Q3 outlook shows loss
Extreme Networks reported fiscal second-quarter 2024 results for the quarter ended December 31, 2023, with revenue of $296.4 million, down 6.9% year-over-year, and GAAP diluted EPS of $0.03 versus $0.13 a year earlier. The company guided fiscal third-quarter revenue to $200.0 million to $210.0 million with a non-GAAP loss per share of $(0.22) to $(0.17), and said distributors and partners have lowered inventory purchases, which it expects to accelerate in the third quarter.
- Q2 revenue $296.4 million, down from $318.3 million a year earlier; SaaS ARR $158.0 million, up 37.4%
- Q2 GAAP diluted EPS $0.03 vs. $0.13 prior year; non-GAAP diluted EPS $0.24 vs. $0.27
- Q3 fiscal 2024 guidance (quarter ending March 31, 2024): revenue $200.0 million to $210.0 million; non-GAAP EPS $(0.22) to $(0.17)
- Q4 fiscal 2024 revenue target $265.0 million to $275.0 million