Extreme Networks, Inc. is an American networking company based in Morrisville, North Carolina. Extreme Networks designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security and access controls.3 It employed 2,713 people in 2018.1 Its revenue was $520 million in 2014.1Wikipedia text CC BY-SA 4.0
Extreme Networks, Inc. is an American networking company based in Morrisville, North Carolina. Extreme Networks designs, develops, and manufactures wired and wireless network infrastructure equipment and develops the software for network management, policy, analytics, security and access controls.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue161718$316.9M in Q3 FY2026+2% since Q1 FY2025Gross profit161718$195.5M in Q3 FY2026+4% since Q1 FY2025Operating income161718$17.3M in Q3 FY2026+54% since Q1 FY2025Net income161718$10.6M in Q3 FY2026+89% since Q1 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
Period ending
2026-06-30
2025-06-30
2024-06-30
Total net revenues
$1.3B
$1.1B
$1.1B
Total cost of revenues
$494.5M
$430.9M
$486.4M
Total gross profit
$789.1M
$709.1M
$630.8M
Research and development
$233.9M
$221.5M
$211.9M
Sales and marketing
$364.3M
$327.6M
$345.8M
General and administrative
$125.3M
$139.6M
$99.9M
Restructuring and related charges
$1.3M
$1.5M
$36.3M
Amortization of intangible assets
$1.7M
$2.0M
$2.0M
Total operating expenses
$726.4M
$692.2M
$696.0M
Operating income (loss)
$62.7M
$16.9M
-$65.2M
Interest income
$4.2M
$4.3M
$4.6M
Interest expense
-$13.8M
-$15.9M
-$17.0M
Other income (expense), net
-$1.6M
-$1.1M
$133.0K
Income (loss) before income taxes
$51.5M
$4.3M
-$77.5M
Provision for income taxes
$9.4M
$11.7M
$8.5M
Net income (loss)
$42.1M
-$7.5M
-$86.0M
Net income (loss) per share - basic
$0.32
-$0.06
-$0.66
Net income (loss) per share - diluted
$0.31
-$0.06
-$0.66
Shares used in per share calculation - basic
132.8M shares
132.3M shares
129.3M shares
Shares used in per share calculation - diluted
135.0M shares
132.3M shares
129.3M shares
No quarter-by-quarter statement was filed.
Total assets1911121314156$1.2B in 2026+56% since 2019Shareholders’ equity121314156$88.6M in 2026−24% since 2019Cash1314156$211.8M in 2026+9% since 2022Long-term debt1911121314156$144.4M in 2026−15% since 2019
Total assets161718$1.2B in Q3 FY2026+1% since Q1 FY2025Shareholders’ equity161718$79.0M in Q3 FY2026+15% since Q1 FY2025Cash161718$210.1M in Q3 FY2026+1% since Q1 FY2025Long-term debt161718$149.2M in Q3 FY2026−6% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
Period ending
2026-06-30
2025-06-30
2024-06-30
2023-06-30
Cash and cash equivalents
$211.8M
$231.7M
Accounts receivable, net
$164.6M
$126.7M
Inventories
$70.0M
$102.6M
Prepaid expenses and other current assets
$103.5M
$74.3M
Total current assets
$549.8M
$535.3M
Property and equipment, net
$58.1M
$44.4M
Operating lease right-of-use assets, net
$25.7M
$38.7M
Goodwill
$397.8M
$399.6M
$393.7M
Intangible assets, net
$3.1M
$6.5M
Other assets
$143.4M
$128.8M
Total assets
$1.2B
$1.2B
Accounts payable
$89.4M
$63.9M
Accrued compensation and benefits
$69.8M
$62.9M
Accrued warranty
$11.0M
$9.7M
$10.9M
$12.3M
Current portion of deferred revenue
$329.7M
$325.1M
Current portion of long-term debt, net of unamortized debt issuance costs of $659 and $729, respectively
$19.3M
$14.3M
Current portion of operating lease liabilities
$11.3M
$11.5M
Other accrued liabilities
$62.1M
$100.6M
Total current liabilities
$592.7M
$587.9M
Deferred revenue, less current portion
$323.1M
$292.4M
Long-term debt, less current portion, net of unamortized debt issuance costs of $618 and $1,276, respectively
$144.4M
$163.7M
Operating lease liabilities, less current portion
$19.5M
$34.0M
Deferred income taxes
$7.4M
$7.0M
Other long-term liabilities
$2.2M
$2.6M
Common stock, $0.001 par value, 750,000 shares authorized; 157,203 and 152,673 shares issued, respectively; 131,216 and 132,064 shares outstanding, respectively
$157.0K
$153.0K
Additional paid-in-capital
$1.4B
$1.3B
Accumulated other comprehensive loss
-$16.0M
-$8.1M
Accumulated deficit
-$907.3M
-$949.4M
Treasury stock at cost, 25,987 shares and 20,609 shares, respectively
-$361.9M
-$275.8M
Total stockholders equity
$88.6M
$65.6M
$25.3M
$116.8M
Total liabilities and stockholders equity
$1.2B
$1.2B
Net of unamortized debt issuance costs
$659.0K
$729.0K
Net of unamortized debt issuance costs
$618.0K
$1.3M
Convertible preferred stock, par value (in dollars per share)
$0.00
$0.00
Convertible preferred stock, shares authorized
2.0M shares
2.0M shares
Convertible preferred stock, shares issued
0 shares
0 shares
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, shares authorized
750.0M shares
750.0M shares
Common stock, shares issued
157.2M shares
152.7M shares
Common stock, shares outstanding
131.2M shares
132.1M shares
Treasury stock, shares
26.0M shares
20.6M shares
Period ending
2026-06-30
2025-06-30
2024-06-30
2023-06-30
Cash and cash equivalents
$211.8M
$231.7M
Accounts receivable, net
$164.6M
$126.7M
Inventories
$70.0M
$102.6M
Prepaid expenses and other current assets
$103.5M
$74.3M
Total current assets
$549.8M
$535.3M
Property and equipment, net
$58.1M
$44.4M
Operating lease right-of-use assets, net
$25.7M
$38.7M
Goodwill
$397.8M
$399.6M
$393.7M
Intangible assets, net
$3.1M
$6.5M
Other assets
$143.4M
$128.8M
Total assets
$1.2B
$1.2B
Accounts payable
$89.4M
$63.9M
Accrued compensation and benefits
$69.8M
$62.9M
Accrued warranty
$11.0M
$9.7M
$10.9M
$12.3M
Current portion of deferred revenue
$329.7M
$325.1M
Current portion of long-term debt, net of unamortized debt issuance costs of $659 and $729, respectively
$19.3M
$14.3M
Current portion of operating lease liabilities
$11.3M
$11.5M
Other accrued liabilities
$62.1M
$100.6M
Total current liabilities
$592.7M
$587.9M
Deferred revenue, less current portion
$323.1M
$292.4M
Long-term debt, less current portion, net of unamortized debt issuance costs of $618 and $1,276, respectively
$144.4M
$163.7M
Operating lease liabilities, less current portion
$19.5M
$34.0M
Deferred income taxes
$7.4M
$7.0M
Other long-term liabilities
$2.2M
$2.6M
Common stock, $0.001 par value, 750,000 shares authorized; 157,203 and 152,673 shares issued, respectively; 131,216 and 132,064 shares outstanding, respectively
$157.0K
$153.0K
Additional paid-in-capital
$1.4B
$1.3B
Accumulated other comprehensive loss
-$16.0M
-$8.1M
Accumulated deficit
-$907.3M
-$949.4M
Treasury stock at cost, 25,987 shares and 20,609 shares, respectively
-$361.9M
-$275.8M
Total stockholders equity
$88.6M
$65.6M
$25.3M
$116.8M
Total liabilities and stockholders equity
$1.2B
$1.2B
Net of unamortized debt issuance costs
$659.0K
$729.0K
Net of unamortized debt issuance costs
$618.0K
$1.3M
Convertible preferred stock, par value (in dollars per share)
$0.00
$0.00
Convertible preferred stock, shares authorized
2.0M shares
2.0M shares
Convertible preferred stock, shares issued
0 shares
0 shares
Common stock, par value (in dollars per share)
$0.00
$0.00
Common stock, shares authorized
750.0M shares
750.0M shares
Common stock, shares issued
157.2M shares
152.7M shares
Common stock, shares outstanding
131.2M shares
132.1M shares
Treasury stock, shares
26.0M shares
20.6M shares
Cash from operations11121314156$123.2M in 2026+17% since 2019Capital spending11121314156$27.9M in 2026+23% since 2019Free cash flow11121314156$95.2M in 2026+16% since 2019Share buybacks111214156$87.0M in 2026+480% since 2019
Capital spending161718$6.4M in Q3 FY2026−7% since Q1 FY2025
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
Period ending
2026-06-30
2025-06-30
2024-06-30
Net income (loss)
$42.1M
-$7.5M
-$86.0M
Depreciation
$15.8M
$14.7M
$24.1M
Amortization of intangible assets
$3.4M
$4.5M
$5.3M
Amortization of cloud computing implementation costs
$5.2M
$0
$0
Reduction in carrying amount of right-of-use asset
$10.3M
$9.9M
$11.5M
Provision for credit losses
$565.0K
$157.0K
$210.0K
Share-based compensation
$88.3M
$82.3M
$76.8M
Deferred income taxes
-$2.1M
-$820.0K
$80.0K
Provision for excess and obsolete inventory
$4.2M
$2.6M
$71.1M
Non-cash interest expense
$1.2M
$1.2M
$1.1M
Other
$2.7M
$3.5M
-$2.5M
Accounts receivable, net
-$38.5M
-$37.3M
$92.3M
Inventories
$24.3M
$27.2M
-$116.4M
Prepaid expenses and other assets
-$53.6M
-$23.1M
-$21.2M
Accounts payable
$24.6M
$12.7M
-$48.0M
Accrued compensation and benefits
$4.0M
$18.7M
-$29.1M
Operating lease liabilities
-$11.9M
-$11.1M
-$11.5M
Deferred revenue
$40.1M
$37.7M
$76.2M
Other current and long-term liabilities
-$37.4M
$16.6M
$11.6M
Net cash provided by operating activities
$123.2M
$152.0M
$55.5M
Capital expenditures for property, equipment and capitalized software development costs
-$27.9M
-$24.7M
-$18.1M
Net cash used in investing activities
-$27.9M
-$24.7M
-$18.1M
Borrowings under revolving facility
$55.0M
$30.0M
Payments on revolving facility
-$55.0M
-$55.0M
Payments on debt obligations
-$15.0M
-$10.0M
-$10.0M
Payments on debt financing costs
-$695.0K
Repurchase of common stock including accelerated share repurchases
-$87.0M
-$38.0M
-$49.9M
Payments for tax withholdings, net of proceeds from issuance of common stock
-$12.5M
-$3.9M
-$30.1M
Net cash used in financing activities
-$114.5M
-$52.6M
-$115.0M
Foreign currency effect on cash and cash equivalents
-$728.0K
$314.0K
-$514.0K
Net increase (decrease) in cash and cash equivalents
Extreme Networks sits at the top of its group. 34 entities, 25 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Extreme Networks Korea Ltd. Subsidiary · South Korea
Extreme Networks Mexico, SA de CV Subsidiary · Mexico
and 8 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Extreme Networks reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our corporate headquarters is located in Morrisville, North Carolina where we currently lease approximately 54,530 square feet of space under a lease agreement that expires in fiscal year 2031.
In addition to our headquarters in Morrisville, we lease additional sites in the United States, including in Salem, New Hampshire and San Jose, California for research and development, sales and marketing and administrative purposes. Outside the United States, we also lease facilities in other geographic locations for research and development, sales and service personnel and administration, including other cities in the Americas, EMEA and APAC, such as Bangalore, India; Chennai, India; Markham, Canada; Reading, United Kingdom; Shannon, Ireland; and other locations.
The rest of Item 2
As of June 30, 2026, we have an aggregate of approximately 0.5 million square feet of leased space with various expiration dates between fiscal year 2027 and fiscal 2033. We are continuously evaluating our leased locations. As leases expire, we analyze key metrics such as attendance and usage when determining whether to extend the lease, reduce the size of the facility or allow the lease to expire.
Extreme Networks was established by co-founders Gordon Stitt, Herb Schneider, and Stephen Haddock in 1996 in California, United States, with its first offices located in Cupertino, which later moved to Santa Clara, and later to San Jose. Early investors included Norwest Venture Partners, AVI Capital Management, Trinity Ventures, and Kleiner Perkins Caufield & Byers. Gordon Stitt was a co-founder and was chief executive officer until August 2006, when he retired and became chairman of the board of directors.
The initial public offering in April 1999 was listed on the NASDAQ stock exchange as ticker "EXTR."
In April 2013, Charles W. Berger (from ParAccel as it was acquired by Actian) replaced Oscar Rodriguez as CEO.
On April 19, 2015, Charles W. Berger resigned as CEO, and was replaced by Board Chairman Ed Meyercord.
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Acquisitions
In October 1996, Extreme Networks acquired Mammoth Technology.
Extreme Networks acquired Optranet in February 2001 and Webstacks in March 2001. Extreme had invested in both companies, which were purchased for about $73 million and $74 million respectively.
On September 12, 2013, Extreme Networks announced it would acquire Enterasys Networks for about $180 million.
On October 31, 2016, Extreme Networks announced that it completed the acquisition of Zebra Technologies' wireless LAN business for about $55 million.
Read the full text
On March 7, 2017, Extreme Networks announced its intention to acquire Avaya's networking business in a transaction valued at $100 million. The acquisition officially closed on July 17, 2017. As part of this transaction, Extreme acquired customers, personnel, and technology assets from Avaya. Extreme has publicly stated that it expects to "generate over $200 million in additional annualized revenue" from the acquired networking assets from Avaya.
On March 29, 2017, Extreme Networks announced its intention to acquire Brocade's SRA (Switching, Routing, and Analytics) business from Broadcom for an undisclosed sum. The acquisition officially closed on October 30, 2017, and with it, Extreme acquires customer relationships, personnel, and technology assets from Brocade including the SLX, VDX, MLX, CES, CER, Workflow Composer, Automation Suites, and certain other Data Center related products. Extreme has publicly stated that it anticipates "the transaction will generate over $230 million in additional annualized revenue from the acquired assets".
On June 26, 2019, Extreme Networks announced its intention to acquire Aerohive Networks for $272 million. Aerohive's cloud-managed portfolio of wireless, LAN, and SD-WAN products is well-regarded in the industry. The acquisition was completed on August 9, 2019, at an aggregate purchase price of approximately $272 million.
On September 15, 2021, Extreme Networks acquired Infovista's Ipanema SD-WAN business.
Apr 30, 2025Reported quarterly or annual results93
Jan 29, 2025Reported quarterly or annual results96
Oct 30, 2024Reported quarterly or annual results97
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
362 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 37 major events, 214 insider forms, 18 large holders, 73 other. The latest 20:
110 open-market trades by officers, directors and large owners since October 2021: 1 buys and 109 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
From the cover page of the 10-K filed Aug 17, 2026 (Section 12(b) of the Exchange Act).20
Risk factors and legal proceedings
The risks Extreme Networks names in Item 1A of its 10-K filed Aug 17, 2026: 39 risks under these headings, as written.20
Risks Related to Our Business, Operations, and Industry
Geopolitical changes are creating uncertainty regarding economic and trade matters, potentially leading to adverse general economic conditions that may adversely impact our business, financial condition, and operating results.
Intense competition and consolidation in the market for networking equipment and management solutions could prevent us from increasing revenues.
Supply chain issues such as concentration of suppliers and manufacturing partners, supplier disruptions, shipping delays, material or components shortages, quality control, regulatory impacts, and inability to reduce manufacturing costs could harm our business, financial condition, and operating results.
System security risks, data breaches, cyberattacks, and other security incidents have occurred in the past and may occur in the future, potentially compromising our proprietary information, disrupting our internal operations, impacting services to customers, and harming public perception of our products, which could materially adversely affect our business, financial condition, operating results, and future growth prospects.
If we fail to anticipate technological shifts, market needs and opportunities, and fail to develop products, product enhancements and business strategies that meet those technological shifts, needs and opportunities in a timely manner or if they do not gain market acceptance, we may not be able to compete effectively and our ability to generate revenues will suffer.
We depend upon international sales for a significant portion of our revenues, which imposes a number of risks on our business.
If we are not able to effectively forecast demand or manage our inventory, we may be required to record write-downs for excess or obsolete inventory.
To successfully manage our business or achieve our goals, we must attract, retain, train, motivate, develop and promote key employees, and a failure to do so can harm us.
We rely on third-party providers for services needed to deliver our cloud solutions and other third-party providers for our internal operations. Any disruption in the services provided by such third-party providers could adversely affect our business and subject us to liability.
The adoption, use, and development of AI products may result in reputational harm or liability.
If our products do not effectively interoperate with our customers’ networks and result in cancellations and delays of installations, our business, financial condition and operating results could be harmed.
The other 28 risks
When our products contain undetected errors, we may incur significant unexpected expenses and could lose sales.
We must continue to develop and increase the productivity of our indirect distribution channels to increase net revenues and improve our operating results.
The sales cycle for our products is long and we may incur substantial non-recoverable expenses or devote significant resources to sales that do not occur when anticipated.
Our sales to government and education customers may be adversely affected by public-sector procurement processes, budgetary constraints, and government contracting requirements.
Risks Related to Financial Matters
We cannot assure future profitability, and our financial results may fluctuate significantly from period to period.
Our stock price has been volatile in the past and may significantly fluctuate in the future.
If we do not adequately manage and evolve our financial reporting and managerial systems and processes, our ability to manage and grow our business may be harmed.
Our revenues may decline as a result of changes in public funding of educational institutions.
Our credit facilities impose financial and operating restrictions on us and if we fail to meet our payment or other obligations under our 2026 Credit Agreement, as amended from time to time and discussed in Item 7, “Liquidity and Capital Resources,” the lenders under such 2026 Credit Agreement could foreclose on, and acquire control of, substantially all of our assets.
Our cash requirements may require us to seek additional debt or equity financing and we may not be able to obtain such financing on favorable terms, or at all.
Our indebtedness could expose us to interest rate risk to the extent of our variable rate debt.
Our share repurchase program may not enhance stockholder value, and repurchases are subject to restrictions and may be suspended or discontinued.
We are exposed to the credit risk of our channel partners and direct customers, which could result in material losses.
We intend to invest in engineering, sales, services, marketing and manufacturing on a long-term basis, and delays or inability to attain the expected benefits may result in unfavorable operating results.
We are required to evaluate the effectiveness of our internal control over financial reporting on an annual basis and publicly disclose any material weaknesses in our controls. Any adverse results from such evaluation could result in a loss of investor confidence in our financial reports and significant expense to remediate, and ultimately could have an adverse effect on our stock price.
We may not fully realize the anticipated positive impacts to future financial results from our restructuring efforts.
We may not realize anticipated benefits of past or future acquisitions, divestitures and strategic investments, and the integration of acquired companies or technologies may negatively impact our business, financial condition and operating results or dilute the ownership interests of our stockholders.
Regulatory, Tax, and Legal Risks
We are required to comply with complex export control laws, economic sanctions, and other trade regulations. If we fail to comply with these laws and regulations, we could incur penalties and sanctions from governments and could be restricted from exporting products.
Our employees may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have a material adverse effect on our business.
Our operating results may be negatively affected by legal proceedings.
Claims of infringement by others may increase and the resolution of such claims may materially adversely affect our business, financial condition, and operating results.
We rely on the availability of third-party licenses.
Failure to protect our intellectual property could affect our business.
Our provision for income taxes and overall cash tax costs are affected by a number of factors, including reorganizations or restructurings of our business, jurisdictional revenue mix and changes in tax regulations or policy, all of which could materially adversely affect our business, financial condition and operating results.
Any actual or perceived failure to comply with new or existing laws, regulations and other requirements relating to the privacy, security and processing of personal information could adversely affect our business, results of operations, or financial condition.
Failure of our products to comply with evolving industry standards and complex government regulations may adversely impact our business.
Provisions in our charter documents and Delaware law may delay or prevent an acquisition of Extreme, which could decrease the value of our common stock.
Compliance with laws, rules and regulations relating to corporate governance and public disclosure may result in additional expenses.
Legal proceedings
The information set forth under the heading “Legal Proceedings” in Note 9, Commitments and Contingencies, in the Notes to Consolidated Financial Statements in Item 8 of Part II of this Annual Report on Form 10-K is incorporated herein by reference.
