EXTREME NETWORKS INC

Listed Company

EXTRCIK 0001078271NasdaqLarge AcceleratedComputer Communications EquipmentDelawareFY ends Jun 30

Period

FY 2025

Revenue

$1.14B

Net Income

$-7.47M

Total Assets

$1.15B

Equity

$65.58M

Shares Out

130.78M

Op. Cash Flow

$152.03M

Business

EXTREME NETWORKS INC is a provider of AI-powered cloud networking solutions that design, develop and manufacture wired, wireless and software-defined wide area network infrastructure to enable secure connectivity and simplified network operations. The company offers cloud networking platforms, network operating systems, wireless access points, switches, routers, SD‑WAN, security and analytics applications, plus professional, support and education services. It operates in a single business segment focused on the development and marketing of network infrastructure equipment and related software. Extreme distributes globally through distributors, resellers, system integrators, strategic OEM partners and a field sales organization.

Summary from filing dated 2025-08-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Total net revenues	1,140	1,117	1,312	1,112	1,009
Total cost of revenues	431	486	558	482	424
Total gross profit	709	631	755	630	585
Research and development	221	212	214	191	197
Sales and marketing	328	346	337	294	277
General and administrative	140	100	90	69	66
Acquisition and integration costs	0	0	390,000	7	2
Restructuring and related charges	1	36	3	2	3
Amortization of intangible assets	2	2	2	3	6
Total operating expenses	692	696	646	566	551
Operating income (loss)	17	−65	108	64	34
Interest income	4	5	3	412,000	352,000
Interest expense	−16	−17	−17	−13	−23
Other income (expense), net	−1	133,000	23,000	383,000	−2
Income (loss) before income taxes	4	−77	94	52	10
Provision for income taxes	12	8	16	8	8
Net income (loss)	−7	−86	78	44	2
Net income (loss) per share - basic	−0.06	−0.66	0.6	0.34	0.02
Net income (loss) per share - diluted	−0.06	−0.66	0.58	0.33	0.02
Shares used in per share calculation - basic	132	129	129	129	124
Shares used in per share calculation - diluted	132	129	134	133	128

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	232	157	235	195	—
Accounts receivable, net	127	90	182	184	156
Inventories	103	141	89	49	33
Prepaid expenses and other current assets	74	80	70	61	51
Total current assets	535	467	576	489	488
Property and equipment, net	44	44	46	50	55
Operating lease right-of-use assets, net	39	44	35	36	37
Goodwill	400	394	395	400	331
Intangible assets, net	7	11	16	33	36
Other assets	129	83	74	61	63
Total assets	1,153	1,043	1,142	1,069	1,010
Accounts payable	64	51	100	84	60
Accrued compensation and benefits	63	42	71	54	72
Accrued warranty	10	11	12	11	12
Current portion of deferred revenue	325	306	282	238	212
Current portion of long-term debt, net of unamortized debt issuance costs of $729 and $674, respectively	14	9	34	33	24
Current portion of operating lease liabilities	11	11	11	14	19
Other accrued liabilities	101	87	64	66	57
Total current liabilities	588	518	576	500	456
Deferred revenue, less current portion	292	269	219	163	133
Long-term debt, less current portion, net of unamortized debt issuance costs of $1,276 and $1,735, respectively	164	178	188	271	316
Operating lease liabilities, less current portion	34	41	32	33	33
Deferred income taxes	7	8	8	8	4
Other long-term liabilities	3	3	3	3	15
Commitments and contingencies (Note 9)	—	—	—	—	—
Convertible preferred stock, $0.001 par value, issuable in series, 2,000 shares authorized; none issued	—	—	—	—	—
Common stock, $0.001 par value, 750,000 shares authorized; 152,673 and 148,503 shares issued, respectively; 132,064 and 130,284 shares outstanding, respectively	153,000	149,000	144,000	140,000	133,000
Additional paid-in-capital	1,299	1,220	1,174	1,115	1,079
Accumulated other comprehensive loss	−8	−15	−13	−3	−3
Accumulated deficit	−949	−942	−856	−934	−978
Treasury stock at cost, 20,609 and 18,219 shares, respectively	−276	−238	−188	−88	−43
Total stockholders equity	66	25	117	90	54
Total liabilities and stockholders equity	1,153	1,043	1,142	1,069	1,010

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net income (loss)	−7	−86	78	44	2
Depreciation	15	24	20	20	23
Amortization of intangible assets	5	5	15	20	32
Reduction in carrying amount of right-of-use asset	10	11	12	15	16
Provision for credit losses	157,000	210,000	459,000	29,000	409,000
Share-based compensation	82	77	63	43	39
Deferred income taxes	−820,000	80,000	407,000	682,000	2
Provision for excess and obsolete inventory	3	71	7	1	—
Non-cash interest expense	1	1	1	4	5
Other	4	−2	−8	423,000	4
Accounts receivable, net	−37	92	2	−26	−34
Inventories	27	−116	−49	−18	23
Prepaid expenses and other assets	−23	−21	−1	−4	−19
Accounts payable	13	−48	15	24	11
Accrued compensation and benefits	19	−29	17	−21	20
Operating lease liabilities	−11	−12	−15	−19	−20
Deferred revenue	38	76	90	45	54
Other current and long-term liabilities	17	12	1	−1	−14
Net cash provided by operating activities	152	55	249	128	145
Capital expenditures for property, equipment and capitalized software development costs	−25	−18	−14	−15	−17
Net cash used in investing activities	−25	−18	−14	−85	−17
Borrowings under revolving facility	—	30	25	—	—
Payments on revolving facility	—	−55	—	—	—
Payments on debt obligations	−10	−10	−109	−38	−74
Payments on debt financing costs	−695,000	—	—	—	—
Loan fees on borrowings	—	—	−3	—	—
Repurchase of common stock	−38	−50	−100	−45	—
Payments for tax withholdings, net of proceeds from issuance of common stock	−4	−30	−5	−7	5
Deferred payments on an acquisition	—	—	−3	−4	−4
Net cash used in financing activities	−53	−115	−195	−95	−75
Foreign currency effect on cash and cash equivalents	314,000	−514,000	−325,000	−936,000	445,000
Net increase (decrease) in cash and cash equivalents	75	−78	40	−52	53
Cash paid for interest	15	15	13	9	19
Cash paid for taxes, net	4	16	12	8	4
Unpaid capital expenditures	1	4	2	2	3

Filings

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