In This Story
Extreme Networks Inc. (EXTR-0.82%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports net revenues of $279.4 million, a decrease from $296.4 million in the same quarter the previous year. Product revenues were $172.3 million, down from $186.6 million, and subscription and support revenues were $107.1 million, down from $109.8 million.
Total gross profit was $175.1 million, compared to $183.4 million in the previous year, with a gross margin of 62.7% compared to 61.9%.
Operating income for the quarter was $12.7 million, up from $10.3 million in the previous year. Net income was $7.4 million, compared to $4.0 million in the previous year.
Cash provided by operating activities was $40.1 million for the six months ended December 31, 2024, compared to $109.9 million in the previous year.
Cash and cash equivalents were $170.3 million as of December 31, 2024, up from $156.7 million as of June 30, 2024.
The filing details various financial metrics, including a decrease in sales and marketing expenses to $79.967 million from $85.154 million in the previous year. General and administrative expenses increased to $26.064 million from $25.384 million.
Research and development expenses were $54.883 million, up from $52.833 million in the previous year. Restructuring and related charges were $1.035 million, down from $9.174 million.
Interest income was $0.839 million, down from $1.430 million, while interest expense was $4.179 million, slightly down from $4.269 million.
Other income, net was $0.661 million, compared to an expense of $0.420 million in the previous year.
The company recorded an income tax provision of $2.604 million, compared to $3.069 million in the previous year.
Extreme Networks continues to focus on its cloud networking solutions and aims to expand its market penetration in high-growth segments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Extreme Networks Inc. quarterly 10-Q report dated January 30, 2025. To report an error, please email earnings@qz.com.