Extreme Networks announced its financial results for the first quarter ended September 30, 2024, on October 30, 2024, reporting total net revenues of $269.2 million. This figure surpassed analyst expectations and marked a sequential revenue increase, signaling early stages of market recovery.
The company reported a GAAP net loss of $10.5 million, or $0.08 per diluted share, but achieved non-GAAP net income of $22.4 million, or $0.17 per diluted share, beating the consensus estimate of $0.13. Product revenue was $162.3 million, while subscription and support revenue grew to $106.9 million, an increase of $7.3 million year-over-year.
SaaS Annual Recurring Revenue (ARR) increased by 23% year-over-year, reaching $174.1 million. For the second quarter of fiscal 2025, Extreme Networks provided guidance targeting total net revenue between $273 million and $283 million, and non-GAAP earnings per share between $0.16 and $0.20. The full fiscal year 2025 revenue outlook was raised and narrowed to a range of $1.117 billion to $1.137 billion.
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