EXTR

EX-99.1

2 extr-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

For more information, contact:

Investor Relations

Media Contact

Stan Kovler

Amy Aylward

919/595-4196

603/952-5138

Investor_relations@extremenetworks.com

pr@extremenetworks.com

Extreme Networks Reports First Quarter Fiscal Year 2027 Financial Results

Revenue climbs 10% on seven straight quarters of double-digit growth

Strong Extreme Platform ONETM Bookings help drive SaaS ARR growth up 22%

Morrisville, NC, October 28, 2026 -- Extreme Networks, Inc. (“Extreme”) (Nasdaq: EXTR) today released financial results for its first quarter ended September 30, 2026.

“Extreme delivered its seventh consecutive quarter of double-digit year-over-year growth in Q1. Demand for Extreme Platform ONE continues to accelerate, with strong quarter-over-quarter subscription gains. Platform ONE bookings are now over 50% of subscription bookings, up 5x from the prior year. Based on the strength of our business and visibility of demand for our solutions, we are confident in calling 10% growth next quarter and for the rest of the year. The combination of our unique enterprise fabric solution, our differentiated Wi-Fi 7 offerings, and the most modern agentic AI management platform is giving us an advantage in the marketplace,” said Ed Meyercord, President and CEO of Extreme.

“The release of our second-generation AI platform, Agent ONE Coworker, marks our shift from conversational to ambient AI. This context-aware, proactive agentic AI management platform is the most advanced in the industry. Within the first month of availability, customer engagement was roughly 10x that of our first-generation conversational AI platform. We are making it easy for our customers to take advantage of new AI capabilities in networking,” Meyercord continued.

Kevin Rhodes, Executive Vice President and Chief Financial Officer, noted, “Our SaaS ARR accelerated to 22% year-over-year growth, based on strong customer adoption of Extreme Platform ONE. Fiscal 2027 got off to a better than seasonal start, and we expect to sustain this level of growth through the year. The supply chain actions we have taken allow us to take more measured, targeted pricing actions than our competitors, while offsetting the incremental supply chain costs the industry is facing. Adjusted EBITDA grew 47% year-over-year fueling 50% non-GAAP EPS growth in Q1. These trends are adding to our confidence in the growth of cash flow and earnings going forward.”

Fiscal First Quarter Results:

• Revenue $341.1 million, up 10% year-over-year

• SaaS ARR $264.7 million, up 22% year-over-year

• GAAP diluted EPS $0.12, up 200% year-over-year

• Non-GAAP diluted EPS $0.33, up 50% year-over-year

• GAAP gross margin 62.1%, compared to 60.6% last year

• Non-GAAP gross margin 62.6%, compared to 61.3% last year

• GAAP operating profit margin 6.8%, compared to 3.6% last year

• Non-GAAP operating margin 17.4%, compared to 13.3% last year

• GAAP net income of $16.0 million, up 185% year-over-year

• Non-GAAP net income of $44.5 million, up 48% year-over-year

• Adjusted EBITDA of $65.6 million, up 47% year-over-year

• Share repurchases of $25.0 million during the quarter equivalent to 844,131 shares at an average price of $29.62 per share

Liquidity:

• Q1 ending cash balance was $244.5 million, an increase of $32.7 million from the end of Q4 2026 and an increase of $35.5 million from the end of Q1 in the prior year.

• Q1 net cash was $44.5 million, compared to $46.8 million at the end of Q4 2026 and $7.8 million at the end of Q1 in the prior year.

Recent Key Highlights:

• In early September, Extreme Networks announced the industry’s first proactive, ambient, context-aware AI agent for networking with the general availability of Extreme Agent ONE Coworker for Extreme Platform ONE. Extreme Agent ONE Coworker’s “Nudge” skill combines real-time network context, historical trend analysis, and agentic reasoning that delivers recommendations directly into the workflow, telling IT teams what they need to know before they ask. Early engagement with Agent ONE Coworker was roughly 10x that of Extreme’s first-generation conversational AI agent, signaling that enterprise organizations are ready for AI that proactively surfaces potential network issues. In the first month of availability, users responded to 98% of critical nudges and Extreme Agent ONE helped customers resolve issues in minutes, compared to the industry average of two days.

• Last week, Extreme Networks previewed its roadmap for on-prem enterprise AI. Extreme Exchange zones bring enterprise AI on-premises, allowing customers to choose their level of data sovereignty and control. Enterprises can run the same AI applications locally and in the cloud, wherever their data originates and workloads run, with full control over data residency and processing. Exchange zones are planned for general availability in the first half of CY27.

• Extreme displaced a major competitor at one

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EX-99.1

2 extr-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

For more information, contact:

Investor Relations

Media Contact

Stan Kovler

Amy Aylward

919/595-4196

603/952-5138

Investor_relations@extremenetworks.com

pr@extremenetworks.com

Extreme Networks Reports Third Quarter Fiscal Year 2026 Financial Results

Revenue up 11% and SaaS ARR Growth Accelerates to 29% YoY on Extreme Platform ONE Growth

Secured Forward Supply Chain to Meet Demand and Stabilize Gross Margins

Morrisville, NC, April 29, 2026 -- Extreme Networks, Inc. (“Extreme”) (Nasdaq: EXTR) today released financial results for its third quarter of fiscal 2026 ended March 31, 2026.

“Our fifth straight quarter of double-digit growth highlights strong momentum, fueled by disciplined execution, differentiated technology, and rising demand for our AI-powered platform. We’ve fully addressed our current and longer-term supply chain needs, including memory, through targeted sourcing strategies, product redesign, and strategic purchase commitments. These actions position us for continued share gains and growth. This quarter’s results reflect not just our performance today, but the strength and scalability of our strategy going forward,” said Ed Meyercord, President and CEO of Extreme.

“SaaS ARR growth accelerated, reflecting rising adoption and deeper customer engagement with Extreme Platform ONE. This momentum underscores the power of our platform approach and the shift toward a more predictable, recurring revenue model. It’s a clear signal that customers are standardizing on our platform to drive automation, boost productivity, and scale their operations,” said Meyercord.

Kevin Rhodes, Executive Vice President and Chief Financial Officer, noted, “The third quarter marked our eighth consecutive quarter of sequential product revenue growth, reflecting continued execution and share gains. Enterprise networking demand remains resilient, and the targeted pricing actions we implemented are successfully offsetting the incremental supply chain costs we have incurred. Together, these actions underpin our gross margin results and outlook. In addition, we returned $50 million to shareholders through an accelerated share repurchase, underscoring our confidence in the durability of our operating model and cash flow generation.”

Fiscal Third Quarter Results:

• Revenue $316.9 million, up 11% year-over-year and relatively flat quarter-over-quarter

• SaaS ARR $236.4 million, up 28.6% year-over-year and 4.2% quarter-over-quarter

• GAAP diluted EPS $0.08, compared to $0.03 last year and $0.06 last quarter

• Non-GAAP diluted EPS $0.26, compared to $0.21 last year and $0.26 last quarter

• GAAP gross margin 61.7%, compared to 61.7% last year and 61.4% last quarter

• Non-GAAP gross margin 62.3%, compared to 62.3% last year and 62.0% last quarter

• GAAP operating margin 5.5%, compared to 3.6% last year and 4.1% last quarter

• Non-GAAP operating margin 15.2%, compared to 14.1% last year and 15.0% last quarter

• Share repurchases of $50.0 million during the quarter

Liquidity:

• Q3 ending cash balance was $210.1 million, a decrease of $9.7 million from the end of Q2 2026 and an increase of $24.6 million from the end of Q3 in the prior year.

• Q3 net cash was $11.3 million, as compared to net cash of $47.3 million at the end of Q2 2026 and net cash of $3.0 million at the end of Q3 in the prior year.

Recent Key Highlights:

• Extreme supported Lucas Oil Stadium in Indianapolis for the NCAA Men’s Final Four and rapidly modernized connectivity by removing legacy access points and deploying temporary infrastructure to ensure the venue was fully game-ready on an accelerated timeline. With Wi-Fi 7 from Extreme coming in time for the upcoming Indianapolis Colts season, this upgrade will enhance stadium operations through faster, more reliable network performance for ticketing, security, and concessions, while elevating the fan experience with seamless high-speed connectivity for streaming and mobile engagement.

• Extreme secured several new Extreme Platform ONE wins during the quarter, including Asiana Airlines, Atlantic Food Distributors, Bridgeport Public Schools, City of Prescott (AZ), Johnstone Supply, Nissha Medical Technologies, and the University of Buckingham. These customers are leveraging AI-powered automation to reduce manual tasks, streamline operations, minimize network complexity, and enable faster execution at lower cost.

• Extreme continues to gain share within the UK National Health Service, with a new win at South London and Maudsley NHS Foundation Trust, where Extreme displaced a larger Chinese competitor. Fabric played a key role by delivering secure segmentation to protect patient data and devices. NHS selected Extreme’s one-license, one-device model for its simplicity and predictable cost.

• London Business School is deploying a full-stack Extreme solution to modernize networking across a complex urban campus spanning historic and modern