Q2 26 EPS
$0.26
BEAT +7.88%
Est. $0.24
Q2 26 Revenue
$317.9M
BEAT +1.79%
Est. $312.3M
vs S&P Since Q2 26
+95.2%
BEATING MARKET
EXTR +100.8% vs S&P +5.6%
Market Reaction
Did EXTR Beat Earnings? Q2 2026 Results
Extreme Networks posted a clean beat across the board in fiscal Q2 2026, with revenue of $317.93 million rising 13.8% year-over-year and non-GAAP EPS of $0.26 clearing the $0.24 consensus estimate by 7.88%, as the enterprise networking company contin… Read more Extreme Networks posted a clean beat across the board in fiscal Q2 2026, with revenue of $317.93 million rising 13.8% year-over-year and non-GAAP EPS of $0.26 clearing the $0.24 consensus estimate by 7.88%, as the enterprise networking company continued to gain traction in cloud subscriptions. The standout driver was SaaS annual recurring revenue, which climbed 25.2% year-over-year to $226.80 million, underscoring the company's ongoing shift toward higher-margin, recurring software income. Free cash flow surged to $43.00 million from $16.10 million a year earlier, while net cash improved to $47.30 million, compared to net debt of $14.70 million in the prior-year period. CEO Ed Meyercord pointed to competitive wins against larger enterprise networking incumbents and noted that bookings for the Extreme Platform ONE product came in at twice the internal plan for the quarter, a dynamic that also fueled recent investor interest in the company's AI-enabled education networking push. Looking ahead, management raised its full-year fiscal 2026 revenue outlook to $1.26 billion to $1.27 billion, with non-GAAP EPS of $0.98 to $1.02.
Key Takeaways
- • Seven consecutive quarters of sequential revenue growth
- • SaaS ARR up 25.2% year-over-year to $226.8 million
- • Extreme Platform ONE bookings were twice plan
- • Non-GAAP operating margin expanded to 15.0% from 14.7% YoY
- • Earnings growth exceeded revenue growth by 10 percentage points
EXTR YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
EXTR Revenue by Segment
With YoY comparisons, source: SEC Filings
“Extreme is taking share from the largest players in enterprise networking, which is reflected in seven consecutive quarters of sequential revenue growth.”
— Ed Meyercord, Q2 2026 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% |