- Extreme Networks press release ( NASDAQ: EXTR ): Q2 Non-GAAP EPS of $0.27 beats by $0.03 .
- Revenue of $318.3M (+13.3% Y/Y) beats by $13.93M .
- Non-GAAP gross margin 58.5% compared to 58.2% in Q2 last year.
- Non-GAAP operating margin 14.9% compared to 13.1% in Q2 last year.
- SaaS ARR $115M, up 29% Y/Y, and up 6% Q/Q.
- 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. Non-GAAP Net income per diluted share of $0.23 - $0.29 vs. consensus of $1.00.
- For its third quarter of fiscal 2023, ending March 31, 2023, the company is targeting: Total net revenue of $315.0M- $325.0M vs. consensus of $313.88M; Net income per diluted share $0.12-$0.17; Non-GAAP Net income per diluted share of $0.23-$0.29 vs. consensus of $0.26. Non-GAAP Gross margin of 58.0%-60.0%; Non-GAAP Operating margin of 13.5%- 15.3%.
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Extreme Networks reports Q2 earnings; raises FY23 guidance and issues Q3 guidance