Every material Form 8-K Extreme Networks filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Extreme Networks reported first quarter fiscal 2025 results for the period ended September 30, 2024, with revenue of $269.2 million, down 23.8% from $353.1 million a year earlier but up 4.9% from the prior quarter. The company posted a GAAP net loss of $10.5 million, or $0.08 per share, compared with GAAP diluted earnings of $0.21 per share a year earlier. It guided to second quarter revenue of $273.0 million to $283.0 million and full fiscal 2025 revenue of $1,117.0 million to $1,137.0 million, which shareholders will weigh against the year-over-year decline.
Revenue was $269.2 million, down from $353.1 million a year earlier and up 4.9% sequentially
GAAP net loss was $10.5 million, or $0.08 per share; non-GAAP diluted EPS was $0.17 versus $0.35 a year earlier
Second quarter fiscal 2025 revenue guidance is $273.0 million to $283.0 million; non-GAAP EPS guidance is $0.16 to $0.20
Full fiscal 2025 revenue guidance is $1,117.0 million to $1,137.0 million
Extreme Networks reported fourth-quarter fiscal 2024 revenue of $256.7 million, down 29% from a year earlier, and a GAAP loss of $0.42 per share, compared with GAAP diluted earnings of $0.19 a year earlier. The company recorded a $46.5 million provision for excess and obsolete inventory and loss on supplier commitments in the quarter, and guided fiscal first-quarter 2025 revenue to $255.0 million to $265.0 million.
Fiscal Q4 2024 revenue $256.7 million, down 29% year over year; GAAP gross margin 44.7%, compared with 58.9% a year earlier
Fiscal year 2024 revenue $1,117.2 million, down 15%; GAAP loss of $0.65 per share versus diluted EPS of $0.58 in fiscal 2023
Excess and obsolete inventory and supplier commitment charge of $46.5 million in Q4 and $64.5 million for fiscal 2024; non-GAAP diluted EPS for fiscal 2024 was $0.32
Fiscal Q1 2025 guidance: revenue $255.0 million to $265.0 million; full fiscal 2025 revenue guidance $1,110.0 million to $1,135.0 million
Extreme Networks reported fiscal third-quarter 2024 results for the quarter ended March 31, 2024. Revenue fell 36.5% year over year to $211.0 million, and the company posted a GAAP net loss of $64.4 million, or $0.50 per diluted share, compared with earnings of $0.17 per share a year earlier. For shareholders, the sharp revenue decline and loss weigh on the results, though the company guided to sequential revenue growth of $250.0 million to $260.0 million for the fourth quarter.
Revenue was $211.0 million, down from $332.5 million a year earlier; SaaS ARR rose 38.0% to $162.0 million
GAAP net loss was $64.4 million ($0.50 per diluted share), versus net income of $22.1 million a year earlier
Quarter-end cash was $151.0 million; free cash flow was negative $73.6 million for the quarter
Fourth-quarter fiscal 2024 revenue guidance is $250.0 million to $260.0 million; GAAP EPS guidance is ($0.11) to ($0.05)
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
Effective January 8, 2024, Joe Vitalone ceased to serve as Chief Revenue Officer of Extreme Networks. He remains an employee in an advisory role but is no longer an executive officer. The filing gives no successor name, reasons for the change, or financial effects.
Joe Vitalone stepped down as Chief Revenue Officer effective January 8, 2024
He will remain an employee of the company in an advisory role
He is no longer an executive officer of Extreme Networks
The filing does not name a replacement or state the reason for the change
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.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Extreme Networks filing is on SEC EDGAR ↗. 8-K briefs of other companies →