olivLaw · US equity research
Extreme Networks, Inc. EXTR
Computer Communications Equipment · SIC 3576 · Vertical: Computer Communications Equipment (SIC 3576)
Extreme Networks sells enterprise networking equipment and platforms, with a focus on AI-driven automation and cloud management. The company closed fiscal 2026 with net revenues up 12.6% to 1,283.6 million USD, as customers modernize infrastructure for new AI demands.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Extreme Networks, Inc. (EXTR) stock was 22.84 USD (+0.13% on the day), with market capitalisation 3.0 bn USD, P/E 58.0 on diluted EPS of 0.39 USD over the last 12 months, beta 1.59, 52-week range 13.74–33.71 USD. Latest reported quarter (Q1 2027): revenue of 341.1 m USD (+9.9% YoY), net income of 16.0 m USD (+184.8% YoY), diluted EPS 0.12 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 50.0
- neutral
- Bollinger (20, 2)
- 21.26 – 24.52
- in the lower half of the band · %B 0.48 · band width 14.3%
- SMA 50 / 200
- 22.48 / 22.16
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.03 / 0.02
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −2.1% | −1.1% | −1.0 pp | — |
| 3 months | −12.8% | −0.5% | −12.3 pp | — |
| 6 months | −3.0% | +4.4% | −7.4 pp | — |
| Year to date | +37.2% | +12.3% | +24.9 pp | — |
| 1 year | +28.3% | +13.5% | +14.8 pp | −9.0% |
| 3 years | +36.0% | +76.4% | −40.5 pp | +63.6% |
| 5 years | +98.4% | +63.7% | +34.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 279.4 m | 284.5 m | 307.0 m | 310.2 m | 317.9 m | 316.9 m | 338.5 m | 341.1 m |
| Cost of revenue | 104.2 m | 109.1 m | 117.9 m | 122.2 m | 122.8 m | 121.3 m | 128.1 m | 129.2 m |
| Gross profit | 175.1 m | 175.4 m | 189.1 m | 188.0 m | 195.1 m | 195.5 m | 210.5 m | 211.9 m |
| Research & development | 54.9 m | 55.7 m | 56.5 m | 57.8 m | 57.5 m | 59.2 m | 59.4 m | 57.8 m |
| Operating income | 12.7 m | 10.4 m | -1.4 m | 11.3 m | 13.0 m | 17.3 m | 21.1 m | 23.1 m |
| Interest expense | 4.2 m | 3.8 m | 3.5 m | 3.7 m | 3.4 m | 3.2 m | 3.5 m | 5.2 m |
| Pre-tax income | 10.0 m | 7.2 m | -3.9 m | 8.4 m | 10.4 m | 14.8 m | 17.9 m | 18.4 m |
| Income tax | 2.6 m | 3.7 m | 3.9 m | 2.7 m | 2.5 m | 4.2 m | -135.0 k | 2.5 m |
| Net income | 7.4 m | 3.5 m | -7.8 m | 5.6 m | 7.9 m | 10.6 m | 18.0 m | 16.0 m |
| Diluted EPS | 0.06 | 0.03 | -0.06 ≈ | 0.04 | 0.06 | 0.08 | 0.13 ≈ | 0.12 |
| Operating cash flow | 21.5 m ≈ | 30.0 m ≈ | 81.9 m | -14.0 m | 50.1 m ≈ | 14.2 m ≈ | 72.8 m | 45.4 m |
| Capex | 5.4 m | 5.7 m | 6.6 m | 6.9 m | 7.1 m | 6.4 m | 7.6 m | 6.8 m |
| Share repurchases | — | — | 25.0 m | 12.0 m | 0 ≈ | 50.0 m ≈ | 25.0 m | 25.0 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 65 percentile of its own 17-quarter history (min 26.2, median 51.8, max 842.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 995.8 m | 948.0 m | 1.0 bn | 1.1 bn | 1.3 bn | 1.1 bn | 1.1 bn | 1.3 bn |
| Revenue YoY | +1.3% | −4.8% | +6.5% | +10.2% | +18.0% | −14.9% | +2.0% | +12.6% |
| Net income | -25.9 m | -126.8 m | 1.9 m | 44.3 m | 78.1 m | -86.0 m | -7.5 m | 42.1 m |
| Net income YoY | unavailable | unavailable | unavailable | +2,186.7% | +76.4% | −210.1% | unavailable | unavailable |
| Diluted EPS | -0.22 | -1.06 | 0.02 | 0.33 | 0.58 | -0.66 | -0.06 | 0.31 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | +1,550.0% | +75.8% | −213.8% | unavailable | unavailable |
| net % | -2.6% | -13.4% | 0.2% | 4.0% | 5.9% | -7.7% | -0.7% | 3.3% |
| Free cash flow | 82.2 m | 20.6 m | 127.4 m | 112.7 m | 235.4 m | 37.4 m | 127.3 m | 95.2 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Jun 2026
- Cash
- 211.8 m USD
- Financial debt
- 163.7 m USD
- Net debt
- -48.0 m USD
- Equity
- 88.6 m USD
- Total assets
- 1.2 bn USD
- Debt / equity
- 1.85x
- Current ratio
- 0.93x
- ROE
- 54.6%
- ROA
- 3.6%
- FCF margin
- 7.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.0 bn | 1.1 bn | 1.3 bn | 1.1 bn | 1.1 bn | 1.3 bn | SEC (XBRL)· 17 Aug 2026verified |
| Cost of revenue | 424.3 m | 482.4 m | 557.7 m | 486.4 m | 430.9 m | 494.5 m | SEC (XBRL)· 17 Aug 2026verified |
| Gross profit | 585.1 m | 629.9 m | 754.7 m | 630.8 m | 709.1 m | 789.1 m | SEC (XBRL)· 17 Aug 2026verified |
| Research & development | 197.0 m | 190.6 m | 214.3 m | 211.9 m | 221.5 m | 233.9 m | SEC (XBRL)· 17 Aug 2026verified |
| Operating income | 34.4 m | 64.2 m | 108.3 m | -65.2 m | 16.9 m | 62.7 m | SEC (XBRL)· 17 Aug 2026verified |
| Interest expense | 22.9 m | 12.8 m | 17.4 m | 17.0 m | 15.9 m | 13.8 m | SEC (XBRL)· 17 Aug 2026verified |
| Pre-tax income | 10.2 m | 52.2 m | 94.1 m | -77.5 m | 4.3 m | 51.5 m | SEC (XBRL)· 17 Aug 2026verified |
| Income tax | 8.2 m | 7.9 m | 16.0 m | 8.5 m | 11.7 m | 9.4 m | SEC (XBRL)· 17 Aug 2026verified |
| Net income | 1.9 m | 44.3 m | 78.1 m | -86.0 m | -7.5 m | 42.1 m | SEC (XBRL)· 17 Aug 2026verified |
| Diluted EPS | 0.02 | 0.33 | 0.58 | -0.66 | -0.06 | 0.31 | SEC (XBRL)· 17 Aug 2026verified |
| Weighted average diluted shares | 127.7 m | 133.5 m | 133.6 m | 129.3 m | 132.3 m | 135.0 m | SEC (XBRL)· 17 Aug 2026verified |
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | — | 194.5 m | 234.8 m | 156.7 m | 231.7 m | 211.8 m | SEC (XBRL)· 17 Aug 2026verified |
| Receivables | 156.5 m | 184.1 m | 182.0 m | 89.5 m | 126.7 m | 164.6 m | SEC (XBRL)· 17 Aug 2026verified |
| Inventories | 32.9 m | 49.2 m | 89.0 m | 141.0 m | 102.6 m | 70.0 m | SEC (XBRL)· 17 Aug 2026verified |
| Current assets | 487.6 m | 489.1 m | 576.2 m | 466.9 m | 535.3 m | 549.8 m | SEC (XBRL)· 17 Aug 2026verified |
| Property, plant & equipment, net | 55.0 m | 49.6 m | 46.4 m | 43.7 m | 44.4 m | 58.1 m | SEC (XBRL)· 17 Aug 2026verified |
| Goodwill | 331.2 m | 400.1 m | 394.8 m | 393.7 m | 399.6 m | 397.8 m | SEC (XBRL)· 17 Aug 2026verified |
| Intangibles (excl. goodwill) | 36.0 m | 32.5 m | 16.1 m | 10.6 m | 6.5 m | 3.1 m | SEC (XBRL)· 17 Aug 2026verified |
| Total assets | 1.0 bn | 1.1 bn | 1.1 bn | 1.0 bn | 1.2 bn | 1.2 bn | SEC (XBRL)· 17 Aug 2026verified |
| Accounts payable | 60.1 m | 84.3 m | 99.7 m | 51.4 m | 63.9 m | 89.4 m | SEC (XBRL)· 17 Aug 2026verified |
| Short-term debt | 23.7 m | 33.3 m | 34.3 m | 9.3 m | 14.3 m | 19.3 m | SEC (XBRL)· 17 Aug 2026verified |
| Long-term debt | 315.9 m | 270.6 m | 187.6 m | 178.3 m | 163.7 m | 144.4 m | SEC (XBRL)· 17 Aug 2026verified |
| Current liabilities | 455.7 m | 500.2 m | 575.5 m | 517.6 m | 587.9 m | 592.7 m | SEC (XBRL)· 17 Aug 2026verified |
| Equity | 54.5 m † | 90.3 m † | 116.8 m † | 25.3 m † | 65.6 m † | 88.6 m † | SEC (XBRL)· 17 Aug 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 144.5 m | 128.2 m | 249.2 m | 55.5 m | 152.0 m | 123.2 m | SEC (XBRL)· 17 Aug 2026verified |
| Capex | 17.2 m | 15.4 m | 13.8 m | 18.1 m | 24.7 m | 27.9 m | SEC (XBRL)· 17 Aug 2026verified |
| Free cash flow | 127.4 m ≈ | 112.7 m ≈ | 235.4 m ≈ | 37.4 m ≈ | 127.3 m ≈ | 95.2 m ≈ | SEC (XBRL)· 17 Aug 2026derived |
| Investing cash flow | -17.2 m | -85.0 m | -13.8 m | -18.1 m | -24.7 m | -27.9 m | SEC (XBRL)· 17 Aug 2026verified |
| Financing cash flow | -74.8 m | -94.7 m | -194.8 m | -115.0 m | -52.6 m | -114.5 m | SEC (XBRL)· 17 Aug 2026verified |
| Share repurchases | — | 45.0 m | 99.9 m | 49.9 m | 38.0 m | 87.0 m | SEC (XBRL)· 17 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 48 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 3.0 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation67
- Returns89
- Quality54
- Balance sheet13
- Growth22
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 4.60 – 58.97 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)15.73 – 24.05 (Mid 18.94)WACC 9.0% · starting FCFF 167.8 m USD · terminal value share of EV 73%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): 7.6%
- Peers: EV/Sales4.60 – 58.97 (Mid 17.20)7 companies used · median multiple 1.7x · quartiles 0.4x – 5.9xATEN, BOSC, CSCO, DGII, FOXX, HUBC, LTRX
- Peers: EV/EBITDAunavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 48/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 61.9% | 55 (on a fixed band) | 11% |
| EBIT margin · Quality | 5.7% | 60 (vs peers) | 9% |
| FCF margin · Quality | 11.8% | 47 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -0.7% | 0 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | 12.6% | 67 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 13 (on a fixed band) | 7% |
| EV/Sales · Valuation | 2.2x | 43 (vs peers) | 18% |
| FCF yield · Valuation | 5.2% | 100 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 3.3% | 89 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial13/100 · 1/2 factors with a value
- Growth22/100 · 2/2 factors with a value
- Quality54/100 · 3/3 factors with a value
- Returns89/100 · 1/1 factors with a value
- Valuation67/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
EXTREME NETWORKS, INC. (EXTR). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 1.3 bn USD in 2026; YoY growth 12.6%; net margin 4.0%; ROE 67.1%.
The estimated value range is 10.17–41.51 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 18.07 USD, the price of 22.84 USD leaves a potential of -20.9% (value / price − 1) and a margin of safety of -26.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 48/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF yield: 5.2%
- Shareholder yield (distributions): 3.3%
What contradicts it
- Revenue CAGR 3Y: -0.7%
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): Net debt / EBITDA.
Versus the vertical median
Computer Communications Equipment (SIC 3576) · same industry (4-digit SIC) · compared with 15 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CSCOCisco Systems, Inc. | 408.5 bn | 31.1 | 27.3% | 21.0% | +11.8% | +35% / +114% |
| ANETArista Networks, Inc. | 225.5 bn | 48.0 | 33.5% | 40.0% | +28.6% | +37% / +225% |
| FFIVF5, Inc. | 18.7 bn | 26.3 | 19.8% | 22.0% | +9.7% | +38% / +93% |
| EXTRExtreme Networks, Inc. | 3.0 bn | 58.0 | 67.1% | 4.0% | +12.6% | +28% / +36% |
| DGIIDigi International Inc. | 2.8 bn | 57.5 | 7.5% | 9.6% | +1.5% | +74% / +208% |
| ATENA10 Networks, Inc. | 1.7 bn | 40.0 | 19.4% | 13.9% | +11.0% | +38% / +91% |
| NTGRNETGEAR, Inc. | 586.0 m | — | -7.0% | -4.9% | +3.8% | −16% / +64% |
| ALLTAllot Ltd. | 421.3 m | 108.3 | 4.5% | 3.6% | +10.6% | −10% / +541% |
| LTRXLantronix, Inc. | 263.9 m | — | -4.3% | -3.5% | −1.6% | +10% / 0% |
| SILCSilicom Ltd. | 181.2 m | — | -9.4% | -18.5% | +6.6% | +112% / +95% |
| BOSCBos Better Online Solutions Ltd | 29.8 m | 7.4 | 14.4% | 7.1% | +26.6% | −9% / +48% |
| FOXXFoxx Development Holdings Inc. | 13.3 m | — | — | -100.2% | −20.2% | −58% / −83% |
| INTZIntrusion Inc. | 11.9 m | — | -140.9% | -194.0% | +21.6% | −66% / −93% |
| WLDSWearable Devices Ltd. | 4.2 m | — | -72.3% | -1,253.0% | +23.9% | −92% / −100% |
| HUBCHUB Cyber Security Ltd. | 3.4 m | — | — | -134.5% | −30.7% | −100% / −100% |
| CIITTianci International, Inc. | 2.0 m | — | -55.0% | -16.7% | +53.4% | −93% / −96% |
1- and 3-year price returns: for EXTR from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 13.00 Total return -43% · Per year -43% | 23.05 Total return 1% · Per year 1% | 34.80 Total return 52% · Per year 52% |
| 3 years | 11.33 Total return -50% · Per year -21% | 22.71 Total return -1% · Per year -0% | 37.83 Total return 66% · Per year 18% |
| 5 years | 9.87 Total return -57% · Per year -15% | 22.38 Total return -2% · Per year -0% | 41.13 Total return 80% · Per year 12% |
- Exit P/E± 5.68
- Net margin± 3.97
- Annual revenue growth± 3.43
- Annual dilution± 0.33
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 17 Aug 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (28 Oct 2026 · results).
In brief
Extreme Networks sells enterprise networking equipment and platforms, with a focus on AI-driven automation and cloud management. The company closed fiscal 2026 with net revenues up 12.6% to 1,283.6 million USD 1, as customers modernize infrastructure for new AI demands.
SWOT
Strengths
- The company offers a unified platform combining networking, security and AI, which differentiates it in the enterprise market 1.
- Growth in subscription revenues and SaaS ARR shows rising adoption of cloud solutions 1.
- The company says it has a campus fabric architecture and a broad wireless portfolio, particularly in the 6 GHz band 1.
Weaknesses
Opportunities
- The shift to Wi-Fi 7 and campus modernization could bring new demand for equipment and subscriptions 1.
- Expanding the AI platform and autonomous agents could raise subscription revenue if adoption continues 1.
- Government, sports and education sectors could offer larger contracts, based on the wins named in the results release 2.
Threats
Risks
- Trade uncertainty and tariffshigh
Tariff policies and retaliatory measures could raise costs and reduce customer demand 1.
- Intense competitionhigh
Large competitors and cloud providers could reduce prices or the company's market share 1.
- Supplier dependencemedium
Single or limited-source suppliers and manufacturing partners could cause delivery disruptions 1.
- Component costsmedium
Rising memory and semiconductor costs could compress gross margin if prices cannot be passed on to customers 1.
- Cybersecuritymedium
Cyberattacks or security incidents could affect data, operations and the company's reputation 1.
Investment thesis
What would need to be true (bull case)
- Rising revenue and SaaS ARR suggest the AI platform could become a durable growth driver if adoption continues 12.
- The company says its liquidity and new credit facility give it flexibility for investment and growing demand 2.
- Wins in campuses, stadiums and the public sector suggest the portfolio could be competitive in large projects 2.
What to watch
- Trend in gross margin and effect of pricing actionsQ1 2027
- Pace of product revenue growth against the company's guidance2027
- Adoption of Extreme Agent ONE and launch of the Operator mode2026
- Effect of tariffs and trade measures on costsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 17 Aug 2026; since then the company filed 10-Q (29 Oct 2026), 8-K (28 Oct 2026 · results).
The business
Extreme Networks, Inc. (EXTR) presents itself as a leader in AI-powered cloud networking, designing, developing and manufacturing wired, wireless and SD-WAN equipment 1. Revenue comes from networking equipment sales, software subscriptions and maintenance contracts. Extreme Platform ONE, generally available since July 2025, integrates networking, security and AI in one platform 1.
The company serves customers in sports and entertainment, hospitality, retail, transport, education, government, healthcare, manufacturing and service providers 1. Its strategy relies on a unified platform, simplified licensing and public, private, hybrid or sovereign cloud options, with on-premises solutions for customers with specific requirements 1.
Extreme introduced Extreme Agent ONE in May 2026, an AI experience aimed at moving customers from assisted networking to autonomous operations, within customer-defined governance 1. The Coworker mode was expected to become generally available in calendar Q3 2026 and the Operator mode in calendar Q4 2026 1.
Segments
Products
Product revenues, mainly networking equipment, were 809.6 million USD in fiscal 2026 1. Growth came from better average selling prices and product mix changes 1.
Market context
The total addressable market for the company's networking solutions exceeded 46 billion USD in calendar 2025 1. Per 650 Group data cited by the company, demand could grow at a CAGR of about 11% over five years to 77 billion USD by 2030 1.
The company estimates cloud-managed networking could grow faster, at a CAGR of about 13%, and that AI networking spend for campuses could grow at a 60% CAGR 1. These are the company's own estimates and depend on the assumptions of the cited study.
Trends
- Infrastructure refresh cycletailwind
Customers are modernizing campuses and adopting Wi-Fi 7 for AI, IoT and security needs, which the company sees as a multi-year refresh cycle 1.
- Shift to autonomous networkstailwind
AI agents could move networks from monitoring to autonomous operations, potentially creating demand for unified platforms if customers adopt these capabilities 1.
- Memory component supply pressureheadwind
Memory and semiconductor components face volatile costs and limited allocation, which can raise costs and lead times. In fiscal 2026 higher memory costs drove purchase price variances of 10.6 million USD 1.
- Trade tensions and tariffsmixed
Tariffs and trade measures could raise costs and delay deliveries, although most of the company's products were excluded from current tariffs 1.
Competitive position
The networking market is intensely competitive and dominated by Cisco, Hewlett Packard Enterprise and Huawei. The company also competes with Arista Networks, RUCKUS Networks, Fortinet and Ubiquiti 1. Larger rivals have more name recognition, bigger customer bases and greater resources for development and sales 1.
Cloud hyperscalers and AI software vendors could compete with network management solutions if customers manage infrastructure through AI interfaces 1. Industry consolidation could create stronger competitors and cost the company market share 1.
- Cisco SystemsCSCO
Dominant competitor in switching, routing and network software, named as a principal rival in the company's risk factors 1.
- Hewlett Packard EnterpriseHPE
Dominant competitor in enterprise networking, with considerable resources for hardware and software 1.
- Huawei Technologies
Dominant competitor in switching and routing named in the source; not US-listed.
- Arista NetworksANET
Competitor in data center and campus networking, named among secondary competitors 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report29 Oct 2026
- Current report28 Oct 2026Results of operations · Financial statements and exhibits
- Proxy statement18 Sept 2026
- Current report26 Aug 2026Item 4.01 · Financial statements and exhibits
- Annual report17 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report30 Jul 2026Material agreement · Termination of a material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Quarterly report30 Apr 2026
- Current report29 Apr 2026Results of operations · Financial statements and exhibits
- Quarterly report29 Jan 2026
Sources
- [1] Form 10-K, fiscal year ended 2026-06-30 · SEC / Extreme Networks, Inc. · 17 Aug 2026
- [2] Form 8-K, results release (exhibit 99.1) · SEC / Extreme Networks, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.