Extreme Networks reported quarterly revenue of $318.3 million, up 13% year-over-year, and up 7% quarter-over-quarter. GAAP diluted EPS was $0.13, compared to $0.10 in Q2 last year and $0.09 last quarter.
President and CEO Ed Meyercord stated: “Extreme delivered another quarter of great results. The continued strength of subscription and accelerated product deliveries drove another quarter of double-digit year-over-year revenue growth. We are raising our FY23 revenue growth outlook to the high-end of our 10-15% range and expect this momentum to continue into FY24, as the supply chain environment continues to improve.”
“We feel confident in end customer demand. The majority of our bookings are with government, education, and healthcare sectors, where spending is more resilient. Our enhanced fabric and cloud subscription offerings are gaining traction in the marketplace. Finally, we have good visibility for the second half of the year based on the strength of our sales funnel,” continued Meyercord.
Extreme also announced the appointment of Cristina Tate as interim CFO, replacing Rémi Thomas who is stepping down to join a software company.
