Q4 25 EPS
$0.25
BEAT +12.82%
Est. $0.22
Q4 25 Revenue
$307.0M
BEAT +2.50%
Est. $299.5M
vs S&P Since Q4 25
+32.5%
BEATING MARKET
EXTR +48.4% vs S&P +15.9%
Full Year 2025 Results
FY 25 EPS
$0.84
BEAT +3.68%
Est. $0.81
FY 25 Revenue
$1.14B
BEAT +0.63%
Est. $1.13B
Market Reaction
Did EXTR Beat Earnings? Q4 2025 Results
Extreme Networks delivered a standout fiscal fourth quarter, posting revenue of $307.00 million, up 19.6% year over year and ahead of the $299.86 million consensus estimate, while non-GAAP EPS of $0.25 dwarfed the $0.01 analyst estimate by 2400.00%, … Read more Extreme Networks delivered a standout fiscal fourth quarter, posting revenue of $307.00 million, up 19.6% year over year and ahead of the $299.86 million consensus estimate, while non-GAAP EPS of $0.25 dwarfed the $0.01 analyst estimate by 2400.00%, reflecting a dramatic swing from the $0.08 non-GAAP loss per share recorded in the year-ago period. The primary engine behind the profit turnaround was a sharp expansion in non-GAAP gross margin, which climbed from 45.4% to 62.3% as the company moved past the inventory and channel correction headwinds that had pressured prior results. Subscription momentum reinforced the story, with SaaS ARR reaching $207.60 million, up 24.4% year over year, underpinning the durability of Extreme's recurring revenue base. The company also repurchased $25.00 million in stock during the quarter, even as it generated $75.30 million in free cash flow. Looking ahead, management guided Q1 FY2026 non-GAAP EPS to $0.20 to $0.23 on revenue of $292.00 million to $300.00 million, with full-year FY2026 revenue targeted at $1.23 billion to $1.24 billion, implying re-accelerating annual growth.
Key Takeaways
- • Fifth consecutive quarter of sequential revenue growth
- • SaaS ARR up 24.4% year-over-year to $207.6 million
- • Non-GAAP gross margin expanded to 62.3% from 45.4% in the year-ago quarter
- • Non-GAAP operating margin improved to 15.2% from negative 4.6% year-over-year
- • Strong cash flow generation with Q4 free cash flow of $75.3 million
- • Prudent expense management
EXTR YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
EXTR Revenue by Segment
With YoY comparisons, source: SEC Filings
“We closed the fourth quarter with significant momentum, driven by sharp execution and growing demand for our solutions and services. Five consecutive quarters of revenue growth and ARR jumping 24 percent year-over-year are clear indicators that our subscription model is gaining traction. Increased customer engagement in EMEA and APAC underscores our global momentum, highlighted by sizeable wins this quarter.”
— Ed Meyercord, Q4 2025 Earnings Press Release
EXTR Earnings Trends
EXTR vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
EXTR EPS Trend
Earnings per share: estimate vs actual
EXTR Revenue Trend
Quarterly revenue: estimate vs actual
EXTR Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 BEAT | $0.24 | $0.26 | +9.57% | $316.9M | +1.73% |
| Q2 26 BEAT | $0.24 | $0.26 | +7.88% | $317.9M | +1.79% |
| Q1 26 BEAT | $0.21 | $0.22 | +2.56% | $310.2M | +4.91% |
| Q4 25 BEAT FY | $0.22 | $0.25 | +12.82% | $307.0M | +2.50% |
| FY Full Year | $0.81 | $0.84 | +3.68% | $1.14B | +0.63% |
| Q3 25 BEAT | $0.18 | $0.21 | +14.19% | $284.5M | +1.49% |