NASDAQ$EXTR
Extreme Networks Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Achieved record bookings and revenue with SaaS ARR approaching $100 million and product backlog exceeding $425 million.
Extreme Networks reported strong Q3 fiscal year 2022 financial results, achieving record bookings and revenue. The company's SaaS ARR is approaching $100 million, and its product backlog exceeds $425 million. They expect FY23 Revenue Growth of 10-15%, accelerating to Mid-Teens Through 2025
- Revenue reached $285.5 million, a 13% increase year-over-year and a 2% increase quarter-over-quarter.
- SaaS ARR reached $97 million, a 54% increase year-over-year and a 10% increase quarter-over-quarter.
- GAAP EPS was $0.10, up from $0.03 in Q3 last year.
- Non-GAAP EPS was $0.21, up from $0.16 in Q3 last year.
Headline financials
Revenue & EPS history
Extreme Networks · Revenue · Quarterly
$286M
Revenue by segment
Extreme Networks · $198M total across 1 segment · Q3 2022
- Product$198M+12.5%100.0%
Forward guidance
For its fourth quarter of fiscal 2022, ending June 30, 2022, the Company is targeting revenue between $265.0 and $275.0 million and net income per diluted share between $0.02 and $0.07.
Tailwinds
- Targeting total net revenue between $265.0 and $275.0 million (GAAP).
- Targeting gross margin between 55.5% and 57.4% (GAAP).
- Targeting operating margin between 3.1% and 5.5% (GAAP).
- Targeting net income between $2.4 and $9.3 million (GAAP).
- Targeting net income per diluted share between $0.02 and $0.07 (GAAP).
Headwinds
- Operating expenses between $138.6 and $142.9 million (GAAP).
- Targeting total net revenue between $265.0 and $275.0 million (Non-GAAP).
- Targeting gross margin between 57.0% and 59.0% (Non-GAAP).
- Targeting operating margin between 9.1% and 11.4% (Non-GAAP).
- Targeting net income per diluted share between $0.12 and $0.18 (Non-GAAP).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2022
+0.2%
Avg return
Earnings day
-0.7%
Avg return
5 days after
+3.9%
Avg return
30 days after
61%
39 / 64 earnings
Positive
+28.2%
Q3 2026
Best reaction
-30.4%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2026 | +28.2% | +33.9% | +55.5% | |
| Q2 2026 | +2.4% | -0.9% | -6.9% | |
| Q1 2026 | -15.4% | -11.7% | -17.7% | |
| Q3 2025 | +4.9% | +7.8% | +19.1% | |
| Q2 2025 | -3.0% | -6.3% | -4.9% | |
| Q1 2025 | +5.0% | +6.9% | +16.7% | |
| Q4 2024 | +3.6% | +2.7% | +5.8% | |
| Q3 2024 | +2.0% | -2.1% | -0.4% | |
| Q2 2024 | -20.6% | -25.9% | -25.1% | |
| Q1 2024 | -17.1% | -17.6% | -20.6% | |
| Q4 2023 | +6.6% | +9.6% | -2.5% | |
| Q3 2023 | +8.4% | +10.8% | +19.4% | |
| Q2 2023 | -9.0% | -9.4% | -2.4% | |
| Q1 2023 | +13.8% | +16.4% | +29.4% | |
| Q4 2022 | +17.4% | +16.7% | +28.6% | |
| Q3 2022 | -13.0% | -12.1% | -10.9% | |
| Q2 2022 | -1.9% | +1.5% | -2.5% | |
| Q1 2022 | +15.5% | +11.5% | +30.6% | |
| Q4 2021 | +14.7% | +13.5% | +12.6% | |
| Q3 2021 | +16.8% | +10.3% | +11.3% | |
| Q2 2021 | +1.7% | -3.6% | -6.6% | |
| Q1 2021 | -5.1% | -16.3% | +22.0% | |
| Q4 2020 | +4.6% | +1.3% | -14.5% | |
| Q3 2020 | -1.5% | -13.9% | +36.8% | |
| Q2 2020 | -15.8% | -19.3% | -30.7% | |
| Q1 2020 | -14.9% | -13.6% | -7.1% | |
| Q4 2019 | +13.7% | +10.2% | -9.2% | |
| Q3 2019 | -20.1% | -17.0% | -29.6% | |
| Q2 2019 | +9.0% | +7.7% | +21.1% | |
| Q1 2019 | +14.7% | +11.6% | +12.1% | |
| Q4 2018 | -30.4% | -29.1% | -33.1% | |
| Q3 2018 | -23.5% | -26.7% | -24.3% | |
| Q2 2018 | -13.5% | -21.8% | -8.1% | |
| Q1 2018 | +0.6% | -4.7% | +10.1% | |
| Q4 2017 | +20.4% | +23.8% | +30.7% | |
| Q3 2017 | +11.1% | +19.7% | +33.2% | |
| Q2 2017 | +0.0% | +0.9% | +11.2% | |
| Q1 2017 | +2.9% | +2.4% | +1.9% | |
| Q4 2016 | +0.8% | +4.2% | +1.3% | |
| Q3 2016 | +5.7% | — | — | |
| Q2 2016 | -29.6% | — | — | |
| Q1 2016 | +1.4% | — | — | |
| Q4 2015 | +21.5% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | +12.6% | — | — | |
| Q1 2015 | +15.2% | — | — | |
| Q4 2014 | -0.8% | — | — | |
| Q3 2014 | -29.0% | — | — | |
| Q2 2014 | -16.3% | — | — | |
| Q1 2014 | +12.0% | — | — | |
| Q4 2013 | -4.8% | — | — | |
| Q3 2013 | -4.6% | — | — | |
| Q2 2013 | +0.8% | — | — | |
| Q1 2013 | +8.0% | — | — | |
| Q4 2012 | +0.3% | — | — | |
| Q3 2011 | -0.8% | — | — | |
| Q3 2012 | +0.3% | — | — | |
| Q2 2011 | +2.2% | — | — | |
| Q2 2012 | +0.9% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q1 2011 | +2.4% | — | — | |
| Q4 2011 | +2.4% | — | — | |
| Q4 2010 | -2.3% | — | — | |
| Q3 2010 | +0.3% | — | — |
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