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Extreme Networks, Inc., together with its subsidiaries, develops, markets, and sells network infrastructure equipment and related software in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers ExtremeCloud IQ, an ML/AI powered, wired and wireless cloud network management solution that offers advanced visibility and control over users, devices, and applications; ExtremeCloud IQ-Site Engine, which provides task automation, access control, granular visibility with real-time analytics and multi-vendor device management; and ExtremeCloud IQ Essentials that offers wireless intrusion prevention system, location services, and guest management services. It also provides wireless local area networks access point products; wired for edge, campus, and data center solutions through Extreme Switching that offers access edge products, such as connection speeds for physical presentations along with options to deliver Ethernet or convergence-friendly power-over-ethernet; and ExtremeCloud SD-WAN, a software-defined wide area networks solution offering an all-inclusive subscription, which includes hardware, the cloud-based SD-WAN service, support and maintenance, and customer success support; and ExtremeCloud Universal ZTNA, a network access security solution. In addition, the company offers cloud native platforms and applications; and customer services and support, including post-sale support, consultative, customized training and operational manuals, and education classes. It serves mid-market and enterprise customers, as well as service providers in the sports and entertainment venues, hospitality, retail, transportation and logistics, education, government, healthcare, and manufacturing industries. The company sells its products through original equipment manufacturers and strategic relationships, distributors, resellers, and field sales. Extreme Networks, Inc., was incorporated in 1996 and is headquartered in Morrisville, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $39M | $-7M | $127M | -11.4% | 2.0% | -91.3% |
| 2024 | $1.1B | $-31M | $-86M | $37M | -340.0% | -14.9% | -210.1% |
| 2023 | $1.3B | $146M | $78M | $235M | 66.9% | 18.0% | 76.4% |
| 2022 | $1.1B | $105M | $44M | $113M | 49.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,112.32 | 1,312.45 | 1,117.20 | 1,140.07 |
| Operating Revenue | - | 1,112.32 | 1,312.45 | 1,117.20 | 1,140.07 |
| Cost Of Revenue | - | 482.38 | 557.73 | 486.37 | 430.94 |
| Gross Profit | - | 629.94 | 754.72 | 630.83 | 709.13 |
| Operating Expense | - | 556.99 | 643.16 | 659.71 | 690.69 |
| Research And Development | - | 190.59 | 214.27 | 211.93 | 221.46 |
| Selling General And Administration | - | 363.17 | 426.84 | 445.74 | 467.18 |
| Total Expenses | - | 1,039.38 | 1,200.89 | 1,146.08 | 1,121.63 |
| Operating Income | - | 72.94 | 111.56 | -28.88 | 18.44 |
| Total Operating Income As Reported | - | 64.19 | 108.31 | -65.20 | 16.95 |
| EBITDA | - | 105.14 | 146.37 | -31.07 | 39.42 |
| Normalized EBITDA | - | 113.90 | 149.62 | 5.26 | 40.91 |
| EBIT | - | 64.98 | 111.49 | -60.51 | 20.20 |
| Interest Income | - | 0.41 | 3.16 | 4.56 | 4.31 |
| Interest Expense | - | 12.79 | 17.39 | 16.99 | 15.93 |
| Net Interest Income | - | -12.38 | -14.23 | -12.43 | -11.62 |
| Other Non Operating Income Expenses | - | 0.38 | 0.02 | 0.13 | -1.06 |
| Other Income Expense | - | -8.37 | -3.23 | -36.19 | -2.55 |
| Interest Income Non Operating | - | 0.41 | 3.16 | 4.56 | 4.31 |
| Interest Expense Non Operating | - | 12.79 | 17.39 | 16.99 | 15.93 |
| Net Non Operating Interest Income Expense | - | -12.38 | -14.23 | -12.43 | -11.62 |
| Pretax Income | - | 52.19 | 94.11 | -77.50 | 4.27 |
| Tax Provision | - | 7.92 | 16.03 | 8.46 | 11.74 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.33 | -0.55 | -7.63 | -0.31 |
| Net Income Continuous Operations | - | 44.27 | 78.07 | -85.96 | -7.47 |
| Net Income From Continuing And Discontinued Operation | - | 44.27 | 78.07 | -85.96 | -7.47 |
| Net Income From Continuing Operation Net Minority Interest | - | 44.27 | 78.07 | -85.96 | -7.47 |
| Net Income | - | 44.27 | 78.07 | -85.96 | -7.47 |
| Net Income Common Stockholders | - | 44.27 | 78.07 | -85.96 | -7.47 |
| Net Income Including Noncontrolling Interests | - | 44.27 | 78.07 | -85.96 | -7.47 |
| Normalized Income | - | 51.70 | 80.77 | -57.27 | -6.29 |
| Diluted NI Availto Com Stockholders | - | 44.27 | 78.07 | -85.96 | -7.47 |
| Basic Average Shares | - | 129.44 | 129.47 | 132.69 | 132.33 |
| Diluted Average Shares | - | 133.49 | 133.65 | 132.69 | 132.33 |
| Reconciled Depreciation | - | 40.16 | 34.88 | 29.45 | 19.22 |
| Reconciled Cost Of Revenue | - | 445.46 | 524.90 | 458.97 | 413.76 |
| Total Unusual Items | - | -8.76 | -3.25 | -36.32 | -1.49 |
| Total Unusual Items Excluding Goodwill | - | -8.76 | -3.25 | -36.32 | -1.49 |
| Special Income Charges | - | -8.76 | -3.25 | -36.32 | -1.49 |
| Restructuring And Mergern Acquisition | - | 8.76 | 3.25 | 36.32 | 1.49 |
| Depreciation Amortization Depletion Income Statement | - | 3.24 | 2.05 | 2.04 | 2.04 |
| Depreciation And Amortization In Income Statement | - | 3.24 | 2.05 | 2.04 | 2.04 |
| General And Administrative Expense | - | 68.70 | 89.93 | 99.94 | 139.62 |
| Other Gand A | - | 68.70 | 89.93 | 99.94 | 139.62 |
| Selling And Marketing Expense | - | 294.47 | 336.91 | 345.80 | 327.56 |
| Amortization | - | 3.24 | 2.05 | 2.04 | 2.04 |
| Amortization Of Intangibles Income Statement | - | 3.24 | 2.05 | 2.04 | 2.04 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Extreme Networks, Inc.this co. | EXTR | $3.9B | - | 59.05 | -11.4% | 98.02 |
| Impinj, Inc. | PI | $4.1B | - | 19.82 | -5.2% | 595.65 |
| Veeco Instruments Inc. | VECO | $3.9B | 109.79 | 4.39 | 4.0% | 58.12 |
| Life360, Inc. | LIF | $3.9B | 25.68 | 7.07 | 27.5% | 112.98 |
| Badger Meter, Inc. | BMI | $3.7B | 26.37 |
| - |
| - |
| - |
| - |
| - |
| - |
| 5.24 |
| 19.9% |
| 16.10 |
| Box, Inc. | BOX | $3.7B | 32.14 | -12.39 | -38.6% | 27.13 |
| RingCentral, Inc. | RNG | $3.7B | 85.09 | -6.28 | -7.4% | 14.30 |
| Itron, Inc. | ITRI | $3.6B | 11.94 | 2.09 | 17.5% | 9.27 |
| Insight Enterprises, Inc. | NSIT | $3.6B | 22.81 | 2.18 | 9.5% | 11.55 |
| Peer Median | - | 26.37 | 3.28 | 6.8% | 21.61 | |