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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 08, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.