Extreme Networks Files Q2 FY25 10-Q

TL;DR

**EXTR 10-Q FILED: Q2 FY25 RESULTS ARE IN. CHECK THE NUMBERS.**

AI Summary

Extreme Networks Inc. filed its 10-Q for the period ending December 31, 2024. The filing details financial performance and operational updates for the second quarter of fiscal year 2025. Key financial data and business developments are presented, with the company headquartered in Morrisville, NC.

Why It Matters

This filing provides investors with crucial financial and operational insights into Extreme Networks' performance during the second quarter of fiscal year 2025, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but specific financial performance details and forward-looking statements could introduce medium-level risk.

Key Numbers

• 20241231 — Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20250130 — Filing Date (Shows when the report was officially submitted to the SEC.)

Key Players & Entities

• EXTREME NETWORKS INC (company) — Filer of the 10-Q
• 20241231 (date) — End of the reporting period
• 20250130 (date) — Date of filing
• MORRISVILLE, NC (location) — Company headquarters
• SAN JOSE, CA (location) — Company mail address

FAQ

Key Financial Figures

• $0.001 — ad 132,755,304 s hares of common stock, $0.001 par value per share, outstanding. EXT

Filing Documents

• extr-20241231.htm (10-Q) — 2661KB
• extr-ex31_1.htm (EX-31.1) — 15KB
• extr-ex31_2.htm (EX-31.2) — 15KB
• extr-ex32_1.htm (EX-32.1) — 8KB
• extr-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-25-011087.txt ( ) — 11514KB
• extr-20241231.xsd (EX-101.SCH) — 1465KB
• extr-20241231_htm.xml (XML) — 2439KB

CONDENSED CONSOLIDATED FINANCIAL INFORMATION

PART I. CONDENSED CONSOLIDATED FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of December 31, 2024 and June 30, 2024 3 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended December 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended December 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosure 36 Item 5. Other Information 36 Item 6. Exhibits 37

Signatures

Signatures 38 2 PAR T I. CONDENSED CONSOLIDATED FINANCIAL INFORMATION

Condensed C onsolidated Financial Statements (Unaudited)

ITEM 1. Condensed C onsolidated Financial Statements (Unaudited) EXTREME NETWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) December 31, 2024 June 30, 2024 ASSETS Current assets: Cash and cash equivalents $ 170,322 $ 156,699 Accounts receivable, net 117,575 89,518 Inventories 132,278 141,032 Prepaid expenses and other current assets 75,114 79,677 Total current assets 495,289 466,926 Property and equipment, net 36,735 43,744 Operating lease right-of-use assets, net 41,609 44,145 Goodwill 391,981 393,709 Intangible assets, net 8,221 10,613 Other assets 107,109 83,457 Total assets $ 1,080,944 $ 1,042,594 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 52,371 $ 51,423 Accrued compensation and benefits 59,521 42,064 Accrued warranty 10,036 10,942 Current portion of deferred revenue 312,050 306,114 Current portion of long-term debt, net of unamortized debt issuance costs of $ 752 and $ 674 , respectively 11,748 9,326 Current portion of operating lease liabilities 10,997 10,547 Other accrued liabilities 77,499 87,172 Total current liabilities 534,222 517,588 Deferred revenue, less current portion 277,419 268,909 Long-term debt, less current portion, net of unamortized debt issuance costs of $ 1,634 and $ 1,735 , respectively 170,866 178,265 Operating lease liabilities, less current portion 37,994 41,466 Deferred income taxes 6,771 7,978 Other long-term liabilities 2,464 3,106 Commitments and contingencies (Note 8) Stockholders' equity: 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; 150,866 and 148,503 shares issued, respectively; 132,647 and 130,284 shares outstanding, respectively 15

View Full Filing

View this 10-Q filing on SEC EDGAR