Extreme Networks Raises Fiscal 2027 Revenue Guidance Amid Strong SaaS Growth and Large Enterprise Bookings
Extreme Networks (EXTR) has raised its full-year fiscal 2027 revenue growth guidance to 10% following a strong first-quarter performance. The company is seeing increased traction in the enterprise sector, evidenced by an increase in large customer bookings exceeding $1 million, which rose to 44 this quarter compared to 36 in the previous year. A significant driver of this momentum is the acceleration of its cloud-managed networking software, Platform 1. SaaS annual recurring revenue grew 22% year-over-year to reach $265 million, with subscription software now accounting for over half of new orders. Additionally, the company has secured critical component inventory through calendar 2027, providing a competitive advantage in delivery speed and margin stability compared to rivals facing supply constraints.
Tickers: $EXTR
Topics: earnings report enterprise networking revenue guidance SaaS growth
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