Extreme Networks posted sales of $363.9 million for its ffourth quarter ended June 30, 2023., up 31% year-over-year, and up 9% quarter-over-quarter. Non-GAAP diluted EPS $0.33, compared to $0.15 in the prior year quarter. Non-GAAP operating margin 17.4 % compared to 9.6% in the prior year quarter.
“Extreme delivered a year of exceptional performance, with revenue growth accelerating to 31% in the fourth quarter and 18% overall for the year,” said Ed Meyercord, President and Chief Executive Officer. “This marks our second consecutive year of double-digit growth. We’re outgrowing our competitors, gaining share, and winning new logos, which helped drive more than 30% growth in the value of deals over $1 million. We’re breaking the status quo of networking through product innovation with differentiated solutions like universal hardware, end-to-end cloud management, enhanced AI, and our unique fabric technology, which greatly simplifies network management and bolsters security. Our focus on simplicity, flexibility, and performance continues to fuel our funnel of large opportunities. I remain confident in our growth prospects and am excited about the new innovations and opportunities we have in store for FY24 and beyond,” concluded Meyercord.
