Monitor the trajectory of SaaS ARR growth and Platform ONE adoption, as the company guides to sustained double-digit growth. Watch for continued margin expansion and cash flow generation, which support the raised guidance.
Price Chart
Executive Summary
Extreme Networks reported Q1 FY2027 revenue of $341.1M, up 10% YoY, and non-GAAP EPS of $0.33, up 50% YoY, with SaaS ARR growth accelerating to 22%. The company raised its full-year FY2027 revenue guidance to $1,402.3M-$1,412.3M and non-GAAP EPS to $1.35-$1.39, reflecting continued momentum in Platform ONE and AI-driven networking.
Key Financial Metrics
Key Facts
- Revenue $341.1M, up 10% year-over-year
- SaaS ARR $264.7M, 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%, up 150 bps YoY
- Non-GAAP operating margin 17.4%, up 410 bps YoY
- Adjusted EBITDA $65.6M, up 47% year-over-year
- FY27 revenue guidance raised to $1,402.3M-$1,412.3M (from $1,380M-$1,400M)
- FY27 non-GAAP EPS guidance raised to $1.35-$1.39 (from $1.28-$1.33)
- Q2 FY27 revenue guidance $345.8M-$350.8M, non-GAAP EPS $0.32-$0.34
- Share repurchases of $25.0M during the quarter at average price $29.62
- Q1 ending cash balance $244.5M, net cash $44.5M
Financial Impact
Revenue growth of 10% YoY and non-GAAP EPS growth of 50% YoY; FY27 guidance raised by ~1.6% at midpoint for revenue and ~5.5% for non-GAAP EPS.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Product | $218.3M | +12.5% |
| Subscription and support | $122.8M | +5.7% |
Risk Factors
- Supply chain costs and component shortages could pressure margins despite pricing actions
- Competition in AI networking and potential macroeconomic slowdown could affect demand
- Execution risk on Platform ONE adoption and new product launches
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-435112 |
| Exhibit: extr-20261028.htm | 0001193125-26-435112 |
| Document: 0001193125-26-435112-index-headers.html | 0001193125-26-435112 |
| Document: 0001193125-26-435112-index.html | 0001193125-26-435112 |
| Document: 0001193125-26-435112.txt | 0001193125-26-435112 |
| 8-K Data (Synthetic) | 0001193125-26-435112 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 28, 2026 1d ago | 8-K | $24.44 $23.59 | ▼ −3.48% | ▼ −3.10% | $23.59 (−3.48%) |
Oct 27, 2026 2d ago | SC 13G/A | $24.44 $23.59 | ▼ −3.48% | ▼ −3.10% | $23.59 (−3.48%) |
Sep 18, 2026 5w ago | DEFA14A | $22.73 $22.11 | ▼ −2.73% | ▼ −2.71% | $23.59 (+3.78%) |
Aug 26, 2026 9w ago | 8-K | $23.23 $22.58 | ▼ −2.80% | ▼ −2.57% | $23.59 (+1.55%) |
Aug 11, 2026 11w ago | Insider Cluster | $24.42 $24.05 | ▼ −1.52% | ▼ −2.21% | $23.59 (−3.40%) |
Aug 5, 2026 12w ago | 8-K | $26.19 $24.32 | ▼ −7.14% | ▼ −6.98% | $23.59 (−9.93%) |
Jul 30, 2026 13w ago | 8-K | $29.84 $30.14 | ▲ +1.01% | ▲ +0.30% | $23.59 (−20.95%) |
Jun 12, 2026 19w ago | Insider Cluster | $31.67 $31.51 | ▼ −0.51% | ▲ +0.09% | $23.59 (−25.51%) |
Jun 8, 2026 20w ago | Insider Cluster | $28.73 $28.58 | ▼ −0.52% | ▲ +1.05% | $23.59 (−17.89%) |
Jun 2, 2026 21w ago | Insider Cluster | $28.79 $29.61 | ▲ +2.85% | ▲ +2.45% | $23.59 (−18.06%) |
US Market Status
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