EXTREME NETWORKS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data EXTREME NETWORKS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	607	983	996	948	1,009	1,112	1,312	1,117	1,140	1,284
Cost of revenue	276	449	445	430	424	482	558	486	431	494
Gross profit	331	535	551	518	585	630	755	631	709	789
Research and development	93.7	184	210	210	197	191	214	212	221	234
Selling and marketing	163	267	285	284	277	294	337	346	328	364
General and administrative	37.9	51	55.6	61	66.2	68.7	89.9	99.9	140	125
Operating expenses	325	573	566	617	551	566	646	696	692	726
Operating income	6.04	-38.2	-14.7	-98.9	34.4	64.2	108	-65.2	16.9	62.7
Interest expense	4.09	13.9	12.6	23.8	22.9	12.8	17.4	17	15.9	13.8
Interest income	0.69	2.85	2.23	1.42	0.35	0.41	3.16	4.56	4.31	4.15
Other non-operating income	-0.05	2.64	-0.78	0.74	-1.69	0.38	0.02	0.13	-1.06	-1.59
Pre-tax income	2.6	-46.6	-25.9	-120	10.2	52.2	94.1	-77.5	4.27	51.5
Income tax	4.34	0.15	-0.02	6.35	8.25	7.92	16	8.47	11.7	9.36
Net income	-1.74	-46.8	-25.9	-127	1.94	44.3	78.1	-86	-7.47	42.1
EBITDA	16.7	-14.7	12.2	-70.3	57.3	84.4	128	-41.1	31.7	78.5
EPS, basic	-0.02	-0.41	-0.22	-1.06	0.02	0.34	0.60	-0.66	-0.06	0.32
EPS, diluted	-0.02	-0.41	-0.22	-1.06	0.02	0.33	0.58	-0.66	-0.06	0.31
Shares, basic (weighted)	108	114	118	120	124	129	129	129	132	133
Shares, diluted (weighted)	108	114	118	120	128	133	134	129	132	135

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	130	121	170	194	247	195	235	157	232	212
Receivables	93.1	212	174	123	156	184	182	89.5	127	165
Inventory	47.4	63.9	63.6	62.6	32.9	49.2	89	141	103	70
Other current assets	27.9	30.5	34.4	35	51.3	61.2	70.3	79.7	74.3	103
Total current assets	299	428	442	414	488	489	576	467	535	550
Property, plant and equipment	30.2	73.6	73.6	58.8	55	49.6	46.4	43.7	44.4	58.1
Lease right-of-use assets				51.3	36.9	36.5	34.7	44.1	38.7	25.7
Goodwill	80.2	139	139	331	331	400	395	394	400	398
Intangible assets	25.3	77.1	51.1	68.4	36	32.5	16.1	10.6	6.54	3.07
Other non-current assets	25.1	47.6	51.6	55.2	63.4	60.7	73.5	83.5	129	143
Total assets	460	770	757	979	1,010	1,069	1,142	1,043	1,153	1,178
Accounts payable	31.6	75.7	65.7	48.4	60.1	84.3	99.7	51.4	63.9	89.4
Accrued liabilities	42.7	50.4	51.6	50.9	71.6	53.7	71.4	42.1	62.9	69.8
Deferred revenue	79	131	144	190	212	238	282	306	325	330
Short-term debt	12.3	9.01	9.01	16.5	23.7	33.3	34.3	9.33	14.3	19.3
Total current liabilities	213	360	356	398	456	500	576	518	588	593
Long-term debt	80.4	189	170	395	316	271	188	178	164	144
Lease liabilities				50.2	32.5	33.3	31.8	41.5	34	19.5
Other non-current liabilities	8.53	54.2	54.2	27.8	14.5	3.09	3.25	3.11	2.6	2.19
Total liabilities	334	658	641	974	956	978	1,025	1,017	1,088	1,089
Total debt	93.7	200	181	421	347	309	225	190	180	165
Paid-in capital	909	942	987	1,035	1,079	1,115	1,174	1,220	1,299	1,374
Retained earnings	-781	-828	-853	-980	-978	-934	-856	-942	-949	-907
Treasury stock			-15	-43.1	-43.1	-88.1	-188	-238	-276	-362
Other comprehensive income	-2.3	-1.7	-2.47	-6.38	-2.81	-3.06	-13.2	-15.5	-8.14	-16
Shareholders' equity	126	113	116	5.4	54.5	90.3	117	25.3	65.6	88.6
Total equity	126	113	116	5.4	54.5	90.3	117	25.3	65.6	88.6
Total liabilities and equity	460	770	757	979	1,010	1,069	1,142	1,043	1,153	1,178
Shares outstanding	111	116	119	121	127	129	128	130	132	131

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-1.74	-46.8	-25.9	-127	1.94	44.3	78.1	-86	-7.47	42.1
Depreciation and amortization	10.6	23.5	26.9	28.6	23	20.2	19.9	24.1	14.7	15.8
Stock-based compensation	12.6	27.6	32.9	37.8	39.1	43.4	63.5	76.8	82.3	88.3
Deferred income tax	2	-4.68	-5.77	1.76	1.79	0.68	0.41	0.08	-0.82	-2.07
Change in receivables	-14	-69.5	36.3	62.2	-34.2	-26.2	1.59	92.3	-37.3	-38.5
Change in inventory	7.41	17.3	0.28	20	22.7	-17.8	-49.1	-116	27.2	24.3
Change in payables	2.06	18.8	-9.85	-26.1	10.8	23.8	14.7	-48	12.7	24.6
Cash from operations	59.3	19	105	35.9	145	128	249	55.5	152	123
Capital expenditures	-10.4	-40.4	-22.7	-15.3	-17.2	-15.4	-13.8	-18.1	-24.7	-27.9
Acquisitions	-51.1	-97.6		-219		-69.5
Sales and maturities of investments		5.52	0.92	45.2
Cash from investing	-71.8	-132	-21.8	-189	-17.2	-85	-13.8	-18.1	-24.7	-27.9
Debt repaid	-10	-194	-19.9
Stock issued	11.8	3.34	11.5	8.79	4.52
Share buybacks			-15	-30		-45	-99.9	-49.9	-38	-87
Cash from financing	48.7	105	-34.4	178	-74.8	-94.7	-195	-115	-52.6	-115
Exchange rate effect	0.09	-0.63	-0.23	-0.63	0.45	-0.94
Net change in cash	36.3	-9.31	48.5	24.3	53	-52.4	40.3	-78.1	75	-20
Free cash flow	48.9	-21.4	82.2	20.6	127	113	235	37.4	127	95.2
Interest paid	3.01	8.29	8.49	20.4	18.7	9.27	13.1	14.7	14.7	12.4
Income taxes paid	2.51	4.13	5.97	5.31	4.49	7.78	12	15.6	4.07	12.5

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $21.52 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	61.5%	Gross profit / revenue.
Operating margin	4.9%	Operating income / revenue.
EBITDA margin	6.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	4.0%	Pre-tax income / revenue.
Net margin	3.3%	Net income / revenue.
FCF margin	7.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.6%	Cash from operations / revenue.
Effective tax rate	18.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	54.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.6%	Net income / average total assets.
Return on invested capital (ROIC)	184.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	18.2%	Research and development expense / revenue.
Stock-based pay / revenue	6.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.2%	Capital expenditures / revenue.
D&A / revenue	1.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	1.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	6.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	269.9%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-16.7%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	12.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	148.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-15.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	6.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	-18.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	85.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 3y	-18.8%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	73.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-19.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-20.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-3.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-25.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-26.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-5.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	35.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-8.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.2%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	2.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	1.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	2.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.93x	Current assets / current liabilities.
Quick ratio	0.64x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.36x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.86x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	14.0%	Total debt / total assets.
Liabilities / assets	92.5%	Total liabilities / total assets.
Net debt	-$46.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-0.60x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	4.55x	Operating income / interest expense.
Working capital	-$42.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	34.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$312.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.10x	Revenue / average total assets.
Fixed asset turnover	25.1x	Revenue / average property, plant and equipment.
Inventory turnover	5.73x	Cost of revenue / average inventory.
Days inventory	64 days	365 x average inventory / cost of revenue.
Receivables turnover	8.81x	Revenue / average receivables.
Days sales outstanding	41 days	365 x average receivables / revenue.
Days payables	57 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	49 days	Days inventory + days sales outstanding - days payables.
FCF conversion	226.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	22.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.31	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$0.32	Net income per basic share, as reported (split-adjusted).
Revenue per share	$9.51	Revenue / diluted weighted shares.
FCF per share	$0.71	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.91	Cash from operations / diluted weighted shares.
Book value per share	$0.68	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$2.38	Tangible book value / shares outstanding.
Cash per share	$1.61	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	91.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.81B	Share price x shares outstanding.
Enterprise value	$2.77B	Market cap + total debt - cash - short-term investments.
P/E	66.8x	Market cap / net income. Only when net income is positive.
P/S	2.19x	Market cap / revenue.
P/B	31.8x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	29.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	22.8x	Market cap / cash from operations, when positive.
EV/Sales	2.16x	Enterprise value / revenue.
EV/EBIT	44.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	35.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	29.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.4%	Free cash flow / market cap.
Earnings yield	1.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.1%	(Dividends paid + share buybacks) / market cap.

What was EXTREME NETWORKS INC's revenue in fiscal 2026?

EXTREME NETWORKS INC reported revenue of $1.28B for fiscal 2026, 12.6% higher than the year before.

Was EXTREME NETWORKS INC profitable in fiscal 2026?

Yes. Net income was $42.1M, a net margin of 3.3%.

How much free cash flow did EXTREME NETWORKS INC generate in fiscal 2026?

Cash from operations of $123.2M minus capital expenditures of $27.9M left free cash flow of $95.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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