Extreme Networks (EXTR) Earnings: Q1 Fiscal 2027 Results and Next Report Date

The quarter ended September 30, 2026 and Extreme Networks published the results on October 28, 2026. Revenue and diluted EPS are shown against Q1 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Extreme Networks reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Extreme Networks' fiscal year ends June 30, so Q1 fiscal 2027 is the three months to September 30, 2026.

Source: Extreme Networks Q1 fiscal 2027 results, October 28, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Extreme Networks splits revenue in its own release, under its own labels, for Q1 fiscal 2027 against Q1 fiscal 2026. Indented lines are parts of the line above them.

• Extreme Networks's Product revenue was $218 million in Q1 fiscal 2027, up 12% from $194 million in Q1 fiscal 2026, 64% of total revenue.
• Extreme Networks's Subscription and support revenue was $123 million in Q1 fiscal 2027, up 6% from $116 million in Q1 fiscal 2026, 36% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Extreme's release gives its targets as a table. For Q2 fiscal 2027 (ending December 31, 2026): total net revenue of $345.8 million to $350.8 million, GAAP EPS of $0.19 to $0.22 and non-GAAP EPS of $0.32 to $0.34. For full year fiscal 2027 (ending June 30, 2027): total net revenue of $1,402.3 million to $1,412.3 million, GAAP EPS of $0.77 to $0.83 and non-GAAP EPS of $1.35 to $1.39. The quotes are from CEO Ed Meyercord and CFO Kevin Rhodes in the same release.

In its Q1 fiscal 2027 release, Extreme Networks said:

“Based on the strength of our business and visibility of demand for our solutions, we are confident in calling 10% growth next quarter and for the rest of the year.”

“Fiscal 2027 got off to a better than seasonal start, and we expect to sustain this level of growth through the year.”

Source: Extreme Networks Q1 FY27 release, Oct 28, 2026.

This is the company's own guidance as of Oct 28, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the EXTR forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total net revenues and diluted EPS, each as first reported in that quarter's release.

Extreme Networks's next report is expected around January 27, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q1 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q1 fiscal 2027 (this page), reported Oct 28, 2026

Extreme Networks sells enterprise networking hardware (switching, Wi-Fi and fabric) and the software and support that run it. In Q1 fiscal 2027 product revenue was $218.3 million of the $341.1 million total, up from $194.0 million, and subscription and support revenue was $122.8 million, up from $116.2 million. Total revenue rose 10%, which Extreme called its seventh consecutive quarter of double-digit year-over-year growth. (Extreme Networks Q1 FY27 release, Oct 28, 2026)

Extreme tracks its software business with SaaS ARR, the annualized value of cloud subscriptions such as Extreme Platform ONE and ExtremeCloud IQ plus term-based licenses. SaaS ARR reached $264.7 million, up 22%, and Extreme said Platform ONE bookings are now over 50% of subscription bookings, up 5x from a year earlier. Remaining performance obligations, mostly deferred SaaS subscription and support revenue, were $666.3 million at September 30, 2026. (Extreme Networks Q1 FY27 release, Oct 28, 2026; Extreme Networks Form 10-Q, Q1 FY27, Oct 29, 2026)

Extreme sells mostly through distributors, and four of them each accounted for 10% or more of net revenues in the quarter: TD Synnex 17%, Jenne 15%, Westcon Group 15% and ScanSource 13%. (Extreme Networks Form 10-Q, Q1 FY27, Oct 29, 2026)

By region, the Americas brought in $184.3 million, including $170.0 million from the United States, up from $136.4 million; EMEA $129.8 million; and APAC $27.0 million, down from $39.7 million. Extreme generated 18% of Q1 net revenues from the Netherlands. (Extreme Networks Form 10-Q, Q1 FY27, Oct 29, 2026)

Extreme Networks' GAAP diluted EPS was $0.12 in Q1 fiscal 2027, against $0.04, and non-GAAP EPS was $0.33, against $0.22. The gap is mostly share-based compensation of $21.5 million. Non-GAAP results also exclude $7.4 million of restructuring and related charges, $3.7 million of other non-recurring costs, $2.4 million of system transition costs, $2.1 million of debt refinancing charges and $1.0 million of litigation charges, net of a $9.9 million tax effect. (Extreme Networks Q1 FY27 release, Oct 28, 2026)

Margins widened. GAAP gross margin rose to 62.1% from 60.6% and GAAP operating margin to 6.8% from 3.6%; adjusted EBITDA was $65.6 million, up 47%. CFO Kevin Rhodes said supply chain actions let Extreme take more measured, targeted pricing actions while offsetting incremental supply chain costs facing the industry. (Extreme Networks Q1 FY27 release, Oct 28, 2026)

Diluted shares were 134.7 million, down slightly from 135.1 million. Extreme repurchased 844,131 shares for $25.0 million at an average price of $29.62 in the quarter, and ended with $244.5 million of cash against $200.0 million of gross debt. (Extreme Networks Q1 FY27 release, Oct 28, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Extreme Networks publishes quarterly and full-year targets in its release. For Q2 fiscal 2027 it targets total net revenue of $345.8 million to $350.8 million, GAAP EPS of $0.19 to $0.22 and non-GAAP EPS of $0.32 to $0.34. For full year fiscal 2027 it targets revenue of $1,402.3 million to $1,412.3 million, GAAP EPS of $0.77 to $0.83 and non-GAAP EPS of $1.35 to $1.39. (Extreme Networks Q1 FY27 release, Oct 28, 2026)

CEO Ed Meyercord said Extreme is confident in calling 10% growth next quarter and for the rest of the year. The Q2 non-GAAP target excludes an estimated $0.17 per share of share-based compensation. (Extreme Networks Q1 FY27 release, Oct 28, 2026)

A consensus figure is the average of the models published by the analysts who cover Extreme Networks, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Extreme Networks's own release and filings put weight on for Q1 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning EXTR is on is EXTR a buy or a sell?, what analysts expect next is on the EXTR forecast, and what the company does is on the Extreme Networks (EXTR) stock page.

Every number on this page can be traced to a document Extreme Networks published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.