Extreme Networks, Inc. · NASDAQ:EXTR

Extreme Networks — Q4 FY2026 Earnings Presentation

30 slides from Extreme Networks's earnings presentation, Aug 5, 2026

  1. Slide 1: 4Q26 Financial Results

    4Q26 Financial Results August 5, 2026

  2. Slide 2: Disclaimer

    DISCLAIMER Non - GAAP Financial Measures Forward - Looking Statements This presentation includes certain financial measures that are not presented in accordance with This presentation contains forward - looking statements including generally accepted accounting principles in the United States (“GAAP

  3. Slide 3: 4Q26 Financial Results

    4Q26 FINANCIAL RESULTS ©2026 EXTREME NETWORKS, INC. ALL RIGHTS RESERVED. 3

  4. Slide 4: 4Q26 Results Summary

    4Q26 RESULTS SUMMARY • Total Revenue Growth of 10% YoY Bookings and • Americas Revenue up 35% YoY and 36% QoQ Revenue Trends • Recurring Revenue 2 of $116M up 6% YoY Cloud SaaS • SaaS ARR 2 of $244M, Up 18% YoY Subscriptions and • Extreme Platform ONE Ahead of Expectations at Roughly Half of Subscri

  5. Slide 5: FY26 Highlights

    FY26 HIGHLIGHTS Total Revenue Non - GAAP Gross Profit 1 Non - GAAP EPS 1 Adjusted EBITDA 1 $1,284M $797M $1.06 $210M Up 13% YoY Up 26% YoY $244M 62.1% 14.8% 16.3% Non - GAAP Gross Margin 1% 1% 1 SaaS ARR 2 Non - GAAP Operating Margin Adjusted EBITDA Margin 18% 187 74 SaaS ARR 2 36% Customers with $1

  6. Slide 6: Major Vertical Bookings Contribution in FY26

    MAJOR VERTICAL BOOKINGS CONTRIBUTION IN FY26 Relative Bookings Strength in Manufacturing, Healthcare, Retail, and Sports & Entertainment Government & Education Manufacturing Healthcare ~40% ~15% ~10% Hospitality, Sports & Retail & Transportation Service Provider Entertainment ~10% ~10% ~5% ©2026 EXT

  7. Slide 7: Quarterly Revenue Results

    QUARTERLY REVENUE RESULTS (IN $M EXCEPT PERCENTAGES) Total Revenue $339 $307 $310 $318 $317 $279 $285 $269 35% 37% 37% 38% 37% 38% 37% 40% 62% 63% 65% 62% 63% 63% 63% 60% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1 Product Revenue Subscription & Support Revenue 1S ee Appendices for definitions of metr

  8. Slide 8: Financial Highlights

    FINANCIAL HIGHLIGHTS (IN $M EXCEPT PERCENTAGES AND EPS) GAAP Non - GAAP 1 4Q25 3Q26 4Q26 FY25 FY26 4Q25 3Q26 4Q26 FY25 FY26 Product Revenue $191.9 $199.4 $218.5 $704.5 $809.6 $191.9 $199.4 $218.5 $704.5 $809.6 Subscription & Support Revenue $115.1 $117.5 $120.1 $435.6 $474.0 $115.1 $117.5 $120.1 $43

  9. Slide 9: Quarterly Gross Profit and Margin

    QUARTERLY GROSS PROFIT AND MARGIN (IN $M EXCEPT PERCENTAGES) Gross Profit - GAAP Gross Profit - Non - GAAP 1 $250 70.0%$250 70.0% $211 $212 $195 $196 68.0% $191 $197 $197 68.0% $200 $189 $188 $200 $190 $175 $175 $171 $177 $177 $170 66.0% 66.0% $150 $150 63.7% 63.4% 64.0% 64.0% 63.0% 62.7% 62.7% $100

  10. Slide 10: Quarterly Operating Expense and Margin

    QUARTERLY OPERATING EXPENSE AND MARGIN (IN $M EXCEPT PERCENTAGES) Operating Expenses - GAAP Operating Expenses – Non - GAAP 1 $250 50.0% $200 24.0% 40.0% $180 $191 $159 $200 $182 $189 $149 $149 $149 $174 $177 $178 30.0% $160 $144 $165 $138 $136 $137 $162 $140 19.0% 20.0% 15.7% $150 4.5% 5.5% 6.2% $1

  11. Slide 11: Quarterly EPS

    QUARTERLY EPS EPS - GAAP EPS – Non - GAAP 1 $0.40 $0.32 $0.30 $0.26 $0.26 $0.25 $0.21 $0.21 $0.22 $0.20 $0.17 $0.13 $0.08 $0.10 $0.06 $0.06 $0.03 $0.04 $- $(0.06) $(0.10) $(0.08) $(0.20) 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1See Appendices for GAAP to Non -

  12. Slide 12: FY26 Revenue by Geography

    FY26 REVENUE BY GEOGRAPHY (IN $M EXCEPT PERCENTAGES) AMERICAS EMEA APAC $626M $534M $124M 49% of Revenue 42% of Revenue 9% of Revenue Note: t he total of revenues in each geography may not equal total revenue due to rounding. ©2026 EXTREME NETWORKS, INC. ALL RIGHTS RESERVED. 12

  13. Slide 13: Financial Highlights – Balance Sheet

    FINANCIAL HIGHLIGHTS – BALANCE SHEET (IN $M) Balance Sheet Highlights 4Q25 3Q26 4Q26 Cash and Cash Equivalents $231.7 $210.1 $211.8 Accounts Receivable $126.7 $162.7 $164.6 Inventories $102.6 $76.6 $70.0 Accounts Payable $63.9 $81.2 $89.4 1 Gross Debt $180.0 $198.8 $165.0 1 Net Cash $51.7 $11.3 $46.

  14. Slide 14: Free Cash Flow

    FREE CASH FLOW (IN $M) 4Q25 3Q26 4Q26 FY25 FY26 Operating Cash Flow $81.9 $14.2 $72.9 $152.0 $123.2 PP&E Capital Expenditures (6.6) (6.4) (7.6) (24.7) (27.9) Free Cash Flow $75.3 $7.8 $65.3 $127.3 $95.3 Share Repurchases $25.0 $50.0 $25.0 $38.0 $87.0 Free Cash Flow $75 $65 $43 $12 $16 $24 $8 ($21) 1

  15. Slide 15: SaaS ARR

    SaaS ARR (IN $M EXCEPT PERCENTAGES) SaaS ARR 1 $260 $244 $240 $236 $227 $220 $216 $208 $200 $181 $184 $180 $174 $160 $140 YoY Growth 23% 14% 13% 24% 24% 25% 29% 18% $120 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 1S ee Appendices for definitions of metrics & KPIs. ©2026 EXTREME NETWORKS, INC. ALL RIGHT

  16. Slide 16: Recurring Revenue

    RECURRING REVENUE (IN $M EXCEPT PERCENTAGES) Recurring Revenue 1 $116 $115 $115 $114 75% $111 $110 $109 65% $105 $103 $103 55% $101 $100 45% 38% 37% 35% 36% 36% 36% 36% 34% $95 35% $90 25% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 Recurring Revenue as % of Total Revenue 1S ee Appendices for definition

  17. Slide 17: Deferred Recurring Revenue

    DEFERRED RECURRING REVENUE (IN $M EXCEPT PERCENTAGES) Deferred Recurring Revenue 1 $650 $644 70% $628 $630 $618 $606 65% $600 $575 $578 $562 57% 60% $550 53% 54% 53% 55% 50% 50% 51% $500 49% 50% $450 45% $400 40% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 Deferred Recurring Revenue SaaS Deferred Revenu

  18. Slide 18: 1Q27 Financial Guidance

    1Q27 FINANCIAL GUIDANCE ©2026 EXTREME NETWORKS, INC. ALL RIGHTS RESERVED. 18

  19. Slide 19: 1Q27 Guidance

    1Q27 GUIDANCE (IN $M EXCEPT PERCENTAGES AND EPS) GAAP Non - GAAP 1 1Q27 1Q27 Revenue $334 - $339 $334 - $339 Gross Margin % 61.6% - 62.1% 62.2% - 62.7% Operating Margin % 1.6% - 2.4% 14.7% - 15.3% EPS $0.00 - $0.02 $0.27 - $0.29 1See Appendices for GAAP to Non - GAAP reconciliation . ©2026 EXTREME N

  20. Slide 20: FY27 Guidance

    FY27 GUIDANCE (IN $M EXCEPT PERCENTAGES AND EPS) GAAP Non - GAAP 1 FY27 FY27 Revenue $1,380 - $1,400 $1,380 - $1,400 Gross Margin % 61.6% - 62.1% 62.2% - 62.7% Operating Margin % 8.4% - 8.9% 16.7% - 17.1% EPS $0.68 - $0.74 $1.28 - $1.33 1See Appendices for GAAP to Non - GAAP reconciliation . ©2026 E

  21. Slide 21: Appendices

    APPENDICES GAAP to Non - GAAP Reconciliations and Operating Metrics Note: The totals for some periods may not foot due to rounding. Please see press release for full reconciliation. ©2026 EXTREME NETWORKS, INC. ALL RIGHTS RESERVED. 21

  22. Slide 22: GAAP to Non-GAAP Reconciliations – Gross Margin

    GAAP TO NON - GAAP RECONCILIATIONS – GROSS MARGIN (IN $M EXCEPT PERCENTAGES) 4Q25 3Q26 4Q26 FY25 FY26 Product Revenue $191.9 $199.4 $218.5 $704.5 $809.6 Subscription & Support Revenue 115.1 117.5 120.1 435.6 474.0 Total Revenue - GAAP $307.0 $316.9 $338.6 $1,140.1 $1,283.6 Gross Margin - GAAP 189.1

  23. Slide 23: GAAP to Non-GAAP Reconciliations – Operating Income

    GAAP TO NON - GAAP RECONCILIATIONS – OPERATING INCOME (LOSS) (IN $M EXCEPT PERCENTAGES) 4Q25 3Q26 4Q26 FY25 FY26 Operating Income (Loss) - GAAP ($1.4) $17.3 $21.1 $17.0 $62.7 Operating Margin - GAAP (0.4%) 5.5% 6.2% 1.5% 4.9% Amortization of Intangibles 1.1 0.7 0.8 4.4 3.3 Share - Based Compensation

  24. Slide 24: GAAP to Non-GAAP Reconciliations – Net Income

    GAAP TO NON - GAAP RECONCILIATIONS – NET INCOME (LOSS) (IN $M EXCEPT EPS) 4Q25 3Q26 4Q26 FY25 FY26 Net Income (Loss) - GAAP ($7.8) $10.6 $18.0 ($7.5) $42.1 Amortization of Intangibles 1.1 0.7 0.8 4.4 3.3 Share - Based Compensation, Total 20.7 21.8 21.8 82.3 88.3 Restructuring and Related Charges (Be

  25. Slide 25: Adjusted EBITDA Reconciliation

    ADJUSTED EBITDA RECONCILIATION (IN $M) 4Q25 3Q26 4Q26 FY25 FY26 Net Income (Loss) - GAAP ($7.8) $10.6 $18.0 ($7.5) $42.1 Depreciation 3.5 3.8 4.0 14.8 15.7 Amortization of Intangibles 1.1 2.6 3.2 4.4 8.5 Share - Based Compensation 20.7 21.8 21.8 82.3 88.3 Restructuring and Related Charges (Benefit)

  26. Slide 26: GAAP to Non-GAAP Reconciliations – 1Q27 Guidance

    GAAP TO NON - GAAP RECONCILIATIONS – 1Q27 GUIDANCE Gross Margin Operating Margin Earnings Rate Rate per Share GAAP 61.6% - 62.1% 1.6% - 2.4% $0.00 - $0.02 Estimated Adjustments for: Share - Based Compensation 0.5% 7.4% - 7.5% 0.19 Amortization of Intangibles 0.1% 0.1% 0.00 Restructuring and Related

  27. Slide 27: GAAP to Non-GAAP Reconciliations – FY27 Guidance

    GAAP TO NON - GAAP RECONCILIATIONS – FY27 GUIDANCE Gross Margin Operating Margin Earnings Rate Rate per Share GAAP 61.6% - 62.1% 8.4% - 8.9% $0.68 - $0.74 Estimated Adjustments for: Share - Based Compensation 0.5% 7.6% - 7.7% 0.79 Amortization of Intangibles 0.1% 0.1% 0.01 Restructuring and Related

  28. Slide 28: Definitions

    DEFINITIONS SaaS ARR (SaaS Annual Recurring Revenue) SaaS ARR is an operating metric used by management to measure the annualized value of customer arrangements for our software sol utions, which are delivered via cloud - based subscription (such as Extreme Platform ONE, generally available July 202

  29. Slide 29: Definitions (Continued)

    DEFINITIONS (CONTINUED) Gross Debt Long - term and current portion of long - term debt as shown on the balance sheet plus unamortized debt issuance costs, if any. Net Cash Cash and Cash Equivalents minus Gross Debt. Free Cash Flow A measure of operating performance representing GAAP net cash provide

  30. Slide 30: ©2026 EXTREME NETWORKS, INC. ALL RIGHTS RESERVED.

    30 ©2026 EXTREME NETWORKS, INC. ALL RIGHTS RESERVED.

Extreme Networks — Q4 FY2026 Earnings Presentation on 6ix