Extreme Networks (EXTR) Q2 2026 Earnings
How Did EXTR Stock React to Q2 2026 Earnings?
S&P 500 over the same 30 days: −1.30%.
Did EXTR Beat Earnings? Q2 2026 Results
Yes. Extreme Networks reported Q2 2026 earnings of $0.26 a share on Jan 28, 2026, beating the $0.24 consensus estimate by 7.9%. Revenue was $317.9M against a $312.3M estimate.
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.
- 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
“Extreme is taking share from the largest players in enterprise networking, which is reflected in seven consecutive quarters of sequential revenue growth.”
Extreme Networks CEO, on the earnings call
What Was Extreme Networks's Outlook in Q2 2026?
For fiscal Q3 2026 (ending March 31, 2026), Extreme targets revenue of $309.1M to $314.1M, GAAP EPS of $0.03 to $0.06, non-GAAP EPS of $0.23 to $0.25, GAAP gross margin of 60.4%–60.8%, and non-GAAP gross margin of 61.0%–61.4%. For the full fiscal year 2026 (ending June 30, 2026), the company raised its revenue outlook to $1,262.0M to $1,270.0M, with GAAP EPS of $0.24 to $0.29, non-GAAP EPS of $0.98 to $1.02, and non-GAAP operating margin of 14.3%–14.8%. The company continues to focus on increasing profitability while navigating the current supply chain environment.
EXTR YoY Financials
| Metric | Q2 2026 | Q2 2025 | Year over year |
|---|---|---|---|
| Revenue | $317.9M | $279.3M | +13.8% |
| Gross Profit | $195.1M | $171.5M | +13.7% |
| Operating Income | $13.0M | $13.7M | −5.2% |
| Net Income | $7.9M | $7.4M | +6.7% |
EXTR Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.