Extreme Networks, Inc. (EXTR) Stock Analysis
Technology · Communication Equipment · NasdaqGS
Extreme Networks, Inc. (EXTR) posted $1.14B in revenue for fiscal 2025 (up 2.0% year over year), with a net loss of $7.47M, and has compounded revenue about 3.8%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Extreme Networks, Inc.
Extreme Networks, Inc. has grown revenue from $519.83M to $1.14B over the last 10 fiscal years, compounding about 3.8% a year. The most recent year was up 2%, so growth has cooled from its longer-run pace.
Net margin sits at -0.7%, up 7 points year over year on a 62.2% gross margin. It carries about $180.00M of total debt.
At today's valuation the market is pricing in roughly 12.9% annual free-cash-flow growth — versus the 43.9% it actually delivered over the last five years, so the price is arguably undemanding against what it has already proven. The one thing worth a second look in the filings is receivables growing faster than sales.
Synthesised from Extreme Networks, Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Extreme Networks, Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $519.83M | $607.08M | $983.14M | $995.79M | $948.02M | $1.01B | $1.11B | $1.31B | $1.12B | $1.14B |
| Gross profit | $265.40M | $330.96M | $534.52M | $551.24M | $517.84M | $585.12M | $629.94M | $754.72M | $630.83M | $709.13M |
| Net income | $-36.36M | $-1.74M | $-46.79M | $-25.85M | $-126.84M | $1.94M | $44.27M | $78.07M | $-85.96M | $-7.47M |
| Net margin | -7.0% | -0.3% | -4.8% | -2.6% | -13.4% | 0.2% | 4.0% | 5.9% | -7.7% | -0.7% |
Source: Extreme Networks, Inc. SEC filings (10-K). 16 years of history available in the interactive view.
Extreme Networks, Inc.: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Receivables growing faster than salesAccounts receivable rose 41.5% while revenue rose 2.0% in the latest year — a gap that can signal looser credit terms or pulled-forward sales. Worth checking days-sales-outstanding.
- Currently unprofitableThe latest fiscal year was a net loss (net margin -0.7%).
What growth is priced into EXTR stock?
At today's market cap of $3.74B, Extreme Networks, Inc. is priced for free-cash-flow growth of about 12.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $127.32M from the FY ending 2025-06-30). For comparison, free cash flow actually grew 43.9%/yr over the last five fiscal years and revenue 3.8%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 16 years of Extreme Networks, Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Extreme Networks, Inc. financial history by metric
Compare Extreme Networks, Inc. with peers
About Extreme Networks, Inc.
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.
Extreme Networks, Inc. — frequently asked questions
What is Extreme Networks, Inc.'s revenue?
Extreme Networks, Inc. (EXTR) reported revenue of $1.14B for fiscal year 2025, up 2.0% from the prior year, according to its SEC filings.
Is Extreme Networks, Inc. profitable?
No — EXTR reported a net loss of $-7.47M in fiscal 2025.
What is EXTR's P/E ratio?
Extreme Networks, Inc. trades at a price-to-earnings ratio of about 238.2 based on the latest data in our nightly-refreshed cache.
How fast is Extreme Networks, Inc. growing?
EXTR's revenue grew at roughly 3.8% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Extreme Networks, Inc. have?
As of fiscal year 2025, EXTR carried roughly $180.00M in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Extreme Networks, Inc.'s gross margin?
EXTR's gross margin was 62.2% in fiscal 2025 — gross profit of $709.13M on revenue of $1.14B.
What is Extreme Networks, Inc.'s market cap?
Extreme Networks, Inc. (EXTR) has a market capitalization of about $3.74B, based on the latest data in our nightly-refreshed cache.
When does Extreme Networks, Inc.'s fiscal year end?
EXTR's fiscal year ends in June. Its most recent annual filing covers the fiscal year ending 2025-06-30.
What growth is priced into EXTR stock?
At today's market cap of $3.74B, Extreme Networks, Inc. is priced for free-cash-flow growth of about 12.9% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $127.32M from the FY ending 2025-06-30). For comparison, free cash flow actually grew 43.9%/yr over the last five fiscal years and revenue 3.8%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Extreme Networks, Inc.'s official SEC filings (10-K and 10-Q), covering 16 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.