Short answer
EXTREME NETWORKS INC (EXTR) filed its fiscal 2026 10-K annual report with the SEC on Aug 17, 2026. It reported revenue of $1.3B (+12.6% year over year) and net income of $42M.
- Top risk flagged: Regulatory risk: ongoing U.S. investigation by Treasury, BIS, DOJ over potential export violations of sanctions on Russia with unresolved loss exposure
FY2026 key financial metrics · XBRL
- Revenue
- $1.3B
- +12.6% YoY
- Net income
- $42M
- +664.1% YoY
- Operating margin
- 4.9%
- +3.4 pp YoY
- Gross margin
- 61.5%
- −0.7 pp YoY
- EPS (diluted)
- $0.31
- +616.7% YoY
- ROE
- 47.5%
- +58.9 pp YoY
- Operating cash flow
- $123M
- −19.0% YoY
Source: XBRL data from the EXTREME NETWORKS INC (EXTR) FY2026 10-K on SEC EDGAR. USD.
EXTREME NETWORKS INC FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: AI-powered cloud networking platform integrating networking, security, and automation for enterprise network infrastructure
- New products: Extreme Platform ONE generally available July 2025; introduced Extreme Agent ONE in May 2026 with Coworker and Operator AI modes
- Strategic shift: Platform-led strategy with unified cloud management, AI-native autonomous network operations, and flexible deployment options (public, private, hybrid, sovereign cloud)
- Quantitative metrics: Employee count 2,894 worldwide with 1,050 in R&D; international sales 55% of revenues, up from 52% in prior year; backlog $51.8M vs $72.3M prior year
- Noteworthy fact: AI Networking for the Campus addressed by Extreme Platform ONE, targeting a forecasted 60% CAGR market growth over five years versus 11% overall market CAGR
Management Discussion & Analysis
- Revenue $1,283.6M, up 12.6% YoY; product revenue $809.6M +14.9%, subscription/support $474.0M +8.8%
- Gross margin 61.5% vs 62.2%; operating income $62.7M (4.9% margin) vs $16.9M (1.5% margin) prior year
- Best segment: APAC revenue +34.9% to $123.7M; worst: Americas revenue down 4.8% last year but up 4.8% in 2026 to $625.5M
- Operating cash flow $123.2M vs $152.0M; capex $27.9M; share repurchases $87.0M; debt repayments $15.0M
- Management expects cash and available credit to fund operations 12+ months; ongoing risks include supply chain and legal expenses
Risk Factors
- Regulatory risk: ongoing U.S. investigation by Treasury, BIS, DOJ over potential export violations of sanctions on Russia with unresolved loss exposure
- Geopolitical risk: semiconductor supply chain concentration in Taiwan poses risk from military conflict or trade disruptions affecting component availability
- Operational risk: reliance on six concentrated suppliers, some sole-source, risks production delays and cost increases impacting product delivery
- Competitive risk: intense competition from Cisco, HPE, and hyperscalers like AWS, Microsoft Azure, GCP offering cloud-based alternatives threatens market share
- Financial risk: 2026 Credit Agreement with restrictive covenants, potential default risks lenders foreclosing on substantially all assets and control transfer
Generated from the filing text; verify against the original. How to read a 10-K
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