Instagram<\/a><\/p>\nExtreme Networks, ExtremeCloud, Extreme Platform ONE, and the Extreme Networks logo are trademarks of Extreme Networks, Inc. or its subsidiaries in the United States and\/or other countries. Other trademarks shown herein are the property of their respective owners.<\/i><\/p>\n
Non-GAAP Financial Measures:<\/b><\/p>\n
\nExtreme provides all financial information required in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d). The Company is providing with this press release non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating margin, non-GAAP operating income, non-GAAP net income, non-GAAP net income per diluted share, adjusted EBITDA (calculated as GAAP net income excluding interest, income taxes, depreciation and amortization as well as costs or benefits that are not reflective of the Company\u2019s ongoing or expected future operational performance as noted below), net cash and free cash flow. In preparing non-GAAP information, the Company has excluded, where applicable, the impact of share-based compensation, amortization of intangibles, restructuring and related charges (benefit), system transition costs, litigation charges, other non-recurring costs, debt refinancing charges and the tax effect of non-GAAP adjustments. The Company believes that excluding these items provides both management and investors with additional insight into its current operations, the trends affecting the Company, the Company\u2019s marketplace performance, and the Company\u2019s ability to generate cash from operations. Please note the Company\u2019s non-GAAP measures may be different than those used by other companies. The additional non-GAAP financial information the Company presents should be considered in conjunction with, and not as a substitute for, the Company\u2019s GAAP financial information.<\/p>\n
\nThe Company has provided a non-GAAP reconciliation of the results for the periods presented in this release, which are adjusted to exclude certain items as indicated. These measures should only be used to evaluate the Company\u2019s results of operations in conjunction with the corresponding GAAP measures for comparable financial information and understanding of the Company\u2019s ongoing performance as a business. Extreme uses both GAAP and non-GAAP measures to evaluate and manage its operations.<\/p>\n
Forward-Looking Statements:<\/b><\/p>\n
\nThis press release contains \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding our outlook, targets, and guidance; our expectations regarding demand, product adoption, competitive dynamics, revenues, margins, cash flow and other operating or financial results; and our plans, objectives and assumptions. These forward-looking statements speak only as of the date of this release. There are several important factors that could cause actual results and other future events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, risks related to global macroeconomic, industry and business trends; variability in demand, sales cycles and pipeline conversion; the Company\u2019s failure to achieve targeted financial metrics; a highly competitive business environment for network switching equipment and cloud management of network devices; changes in trade policies, tariffs, export controls, and sanctions; supply chain challenges and component shortages; concentration of suppliers and manufacturing partners; the Company\u2019s effectiveness in controlling expenses; the possibility that the Company might experience delays in the development or introduction of new technology and products; customer response to the Company\u2019s new technology and products; risks associated with AI performance, adoption, and evolving regulation; cybersecurity incidents, data breaches, and privacy and data-protection requirements; reliance on channel partners and third-party technology and service providers; risks related to pending or future litigation; and political and geopolitical factors.<\/p>\n
\nFor more information about factors that could cause actual results and other future events to differ materially from those suggested or indicated by such forward-looking statements, see \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d and \u201cRisk Factors\u201d included in the Company\u2019s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other documents of the Company on file with the Securities and Exchange Commission (available at www.sec.gov<\/a>). As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and the Company\u2019s financial condition and results of operations could be materially adversely affected. Except as required under the U.S. federal securities laws and the rules and regulations of the Securities and Exchange Commission, Extreme disclaims any obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.<\/p>\n