Extreme Networks, Inc. (Nasdaq: EXTR) supplies enterprise wired and wireless networking equipment, network-management software, security, subscriptions and support. It primarily sells through distributors and resellers and reports one consolidated operating segment.
Loading the company summary…
A snapshot of what EXTREME NETWORKS INC owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
Browse original filingsSee the original statement for its reporting period, currency, and unit.
3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Jun 30, 20240000950170-24-098129 | Aug 16, 2024 | 10-K | Open 10-Ksec.gov |
| Jun 30, 20250000950170-25-109742 | Aug 18, 2025 | 10-K | Open 10-Ksec.gov |
| Jun 30, 20260001193125-26-352872 | Aug 17, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Extreme Networks returned to GAAP profitability in fiscal 2026, but the recovery was not simply a surge in equipment demand. Management attributed product growth to pricing and mix, while cloud adoption supported subscription growth. Lower litigation expense and an Irish tax benefit also helped earnings; component, distribution and hosting costs pressured gross margins. Operating cash flow declined despite higher profit, and repurchases helped reduce year-end cash. The business has recovered substantially from fiscal 2024’s hardware contraction and inventory charges, although fiscal 2026 revenue remained below fiscal 2023. A completed July 2026 refinancing expanded committed borrowing capacity, not cash by the same amount. Unresolved litigation, the Russia-related export investigation, concentrated distribution and uncertain AI-product adoption remain material qualifications to the recovery.
Sources: 10-K · 2024-06-30 · 10-K · 2025-06-30 · 10-K · 2026-06-30
Extreme supplies switches, wireless access points, campus fabric, SD-WAN, cloud management and network-access security to enterprises and public-sector customers. Its economics combine equipment sales, generally recognized at shipment, with subscriptions and maintenance recognized over service periods generally lasting one to five years. Subscription and support also includes professional services and training; it is not pure SaaS revenue. Manufacturing is substantially outsourced, while engineering, selling and support remain substantial internal costs. Product categories and geographic regions are revenue disclosures, not separate profit segments.
Sources: 10-K · 2025-06-30 · 10-K · 2026-06-30
Fiscal 2026 revenue rose 12.6% to $1,283.593 million. Product revenue reached $809.624 million, with management attributing growth to price increases and product mix—not a quantified increase in units. Subscription and support reached $473.969 million, supported by cloud-management adoption, including Platform ONE. Its revenue share nevertheless fell to 36.9% because equipment revenue grew faster. Revenue remained below fiscal 2023’s $1,312.454 million, which had benefited from shipments released as supply constraints eased.
GAAP operating income increased to $62.695 million from $16.949 million, and net income reached $42.119 million after two loss years. However, gross margin declined to 61.5% from 62.2% as memory, distribution and hosting costs offset growth. Lower litigation-related legal expense supported operating earnings, while an Irish deferred-tax valuation-allowance release benefited net income. Fiscal 2025’s improvement had itself benefited from sharply lower inventory and restructuring charges than fiscal 2024. These offsets make the recovery more nuanced than a uniform improvement in recurring margins.
Sources: 10-K · 2024-06-30 · 10-K · 2026-06-30 · 10-K · 2025-06-30
Fiscal 2026 operating cash flow fell to $123.182 million from $152.031 million. Receivables, prepaid assets and other liabilities absorbed cash, partly offset by inventory reductions, payables and advance customer payments. The reconciliation included $88.261 million of noncash stock compensation; operating cash flow is not profit. Approximately $20.0 million of receivables were sold for cash through a disclosed nonrecourse arrangement, with proceeds included in operating cash flow rather than additional revenue. Investing cash expenditure for property, equipment and capitalized software was $27.941 million.
Sources: 10-K · 2026-06-30
At June 30, 2026, cash was $211.758 million and debt principal was $165.0 million. Repurchases used $87.0 million during the year, including—not in addition to—a $50.0 million accelerated repurchase. Year-end shares declined, but weighted-average shares increased, demonstrating that buybacks did not translate directly into an equivalent EPS-denominator reduction. On July 29, before the annual filing, Extreme closed a five-year $500.0 million revolver, reported $200.0 million outstanding at closing and repaid and terminated the old agreement. The remaining $300.0 million commitment was borrowing capacity, not cash or demonstrated net financing proceeds.
Sources: 10-K · 2026-06-30
Westcon, Jenne and TD Synnex represented 18%, 16% and 15% of fiscal 2026 revenue, respectively. Outsourced production and limited-source components expose margins and delivery to supplier allocation, tariffs and forecasting errors. Noncancelable inventory commitments reached $112.5 million. The Russia-related export review remained ongoing without an estimable loss range; patent appeals, securities litigation and derivative cases also remained unresolved. Lower legal expense does not establish lower ultimate liability. Management described a fiscal 2026 vishing incident as contained and nonmaterial, not an absence of cyber incidents. Agent ONE’s announced release dates and future adoption remained conditional.
Sources: 10-K · 2026-06-30
The August 26, 2026 Form 8-K reports that Grant Thornton was dismissed and Deloitte appointed effective August 21, after the August 17 annual filing. Deloitte’s appointment covers fiscal 2027 and related interim periods. Extreme reported no defined accounting disagreements or reportable events during fiscal 2026, fiscal 2025 and the subsequent interim period through August 21, 2026, and Grant Thornton agreed with statements concerning its firm. No reason for the replacement was disclosed. The appointment does not establish a completed Deloitte audit or improved operating performance.
Sources: 8-K · 2026-08-21 · EX-16.1 · 2026-08-21
USD 1.112321 bn
FY2022 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2022 | USD 1.112321 bn | — |
Consolidated product plus subscription and support revenue; includes Ipanema only from its September 14, 2021 acquisition.
Sources: 10-K · 2024-06-30
USD 1.312454 bn
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 1.312454 bn | — |
Consolidated product plus subscription and support revenue.
Sources: 10-K · 2024-06-30
USD 1.283593 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 1.283593 bn | 12.6% |
| 2025 | USD 1.140067 bn | 2.0% |
| 2024 | USD 1.117203 bn | — |
Consolidated GAAP product plus subscription and support revenue.
Sources: 10-K · 2026-06-30
USD 44.271 m
FY2022 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2022 | USD 44.271 m | — |
Consolidated net income after income taxes; actual results, not acquisition pro forma results.
Sources: 10-K · 2024-06-30
USD 78.074 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 78.074 m | — |
Consolidated income or loss after income taxes.
Sources: 10-K · 2024-06-30
USD 42.119 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 42.119 m | Turned profitable |
| 2025 | USD -7.467 m | Loss narrowed |
| 2024 | USD -85.964 m | — |
Consolidated GAAP net income after income taxes; losses are negative.
Sources: 10-K · 2026-06-30
USD 249.212 m
FY2023 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2023 | USD 249.212 m | 94.4% |
| 2022 | USD 128.177 m | — |
Operating cash flow using comparative presentation in the fiscal 2024 filing; inventory-related components were reclassified.
Sources: 10-K · 2024-06-30
USD 152.031 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 152.031 m | 174.0% |
| 2024 | USD 55.486 m | — |
GAAP operating cash flow.
Sources: 10-K · 2026-06-30
USD 123.182 m
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 123.182 m | — |
GAAP operating cash flow, including proceeds from nonrecourse receivable sales where applicable.
Sources: 10-K · 2026-06-30
Reading times are estimates for the English text. Financial tables and charts may take additional time.
