EXTREME NETWORKS Reports Fourth Quarter FY2023 Earnings Results
August 22, 2023
🌥️Earnings Overview
EXTREME NETWORKS ($NASDAQ:EXTR) announced their earnings results for the fourth quarter of FY2023 on August 2 2023. They reported total revenue of USD 363.9 million for the quarter ending June 30 2023, a growth of 30.8% compared to the same period in the previous year. Net income also increased significantly from the 5.4 million reported in the prior year to USD 25.4 million.
Share Price
The stock opened at $28.0 and closed at $30.2. This was the highest closing price in the company’s history and reflects a strong quarter for EXTREME NETWORKS. These figures indicate that EXTREME NETWORKS is continuing to make progress in terms of their financial performance.
The company also announced plans to make several investments that will further strengthen their position in the market, including expanding their product portfolio and investing in research and development initiatives in order to take advantage of emerging technologies. Overall, EXTREME NETWORK’s stock performance and fourth quarter earnings indicate that the company is in a strong position to continue to grow and expand in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Extreme Networks. More…
| Total Revenues | Net Income | Net Margin |
| 1.31k | 78.07 | 6.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Extreme Networks. More…
| Operations | Investing | Financing |
| 249.21 | -13.8 | -194.78 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Extreme Networks. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.14k | 1.02k | 0.91 |
Key Ratios Snapshot
Some of the financial key ratios for Extreme Networks are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.5% | 17.8% | 8.5% |
| FCF Margin | ROE | ROA |
| 17.9% | 63.4% | 6.1% |
Analysis
GoodWhale conducted an analysis of the financial wellbeing of EXTREME NETWORKS. We used the Star Chart, a method developed by GoodWhale to evaluate companies’ financial health. The results of our Star Chart analysis gave EXTREME NETWORKS an overall score of 8/10, indicating strong cashflows and debt, as well as the capability to pay off debt and fund future operations. Our analysis also showed that EXTREME NETWORKS had strong assets, growth and profitability, but its dividend was somewhat weak. Based on these results, we determined that EXTREME NETWORKS is classified as a ‘gorilla’, a type of company that has achieved stable and high revenue or earnings growth due to its strong competitive advantage. Given these results, investors such as those looking for long-term growth and stability may be interested in EXTREME NETWORKS as a potential investment opportunity. It is important to note, however, that individual investors should still conduct their own due diligence and research prior to investing. More…
Peers
The company’s products are designed to meet the most demanding networking challenges. Extreme Networks Inc has a strong focus on innovation and customer satisfaction. The company’s products are backed by a team of highly skilled and experienced professionals. Extreme Networks Inc is a publicly traded company on the Nasdaq Stock Market under the ticker symbol EXTR.
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Summary
Extreme Networks has delivered strong financial results in its fourth quarter of FY2023, reporting a total revenue of USD 363.9 million, an increase of 30.8% compared to the same period last year. Net income rose significantly to USD 25.4 million, compared to the 5.4 million reported in the prior year. This positive news was reflected in the stock price, which moved up on the same day.
Analysts are optimistic about the company’s long-term prospects, noting its commitment to innovation and customer service. Extreme Networks’ strong financial performance indicates that investments in this company could be a smart decision for investors looking to gain exposure to the technology sector.
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