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Extreme Networks cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$38.7M in Q1 FY27 · $155M over twelve months

Operating cash flow$45.4M
Capital spending−$6.8M
Free cash flow+$38.7M
Cash / net income2.8×
Cash conversion cycle33 days

Analysis

In Q1 FY27, Extreme Networks generated $45.4M of operating cash flow and spent $6.8M on capital projects, leaving free cash flow of $38.7M. That is $59.5M more than in Q1 FY26 (−$20.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $183M; the largest uses were buybacks ($100M), other financing ($72.3M), capital spending ($27.8M); besides operations, cash came from net borrowing (+) / repaid (−) ($53.8M); the cash balance rose by $35.5M.

Operating cash flow was $45.4M against net income of $16.0M — 2.8× profit, cash ran ahead of reported earnings. The largest differences: other liabilities +$73.1M, prepaid and other assets −$59.5M, inventory −$30.8M.

Its cash conversion cycle was 33 days (receivables 45 + inventory 61 − payables 72).

Free cash flow

Extreme Networks: free cash flow by quarterExtreme Networks: free cash flow by quarter$16.1MQ2 FY25$24.3MQ3 FY25$75.3MQ4 FY25−$20.9MQ1 FY26$43.0MQ2 FY26$7.8MQ3 FY26$65.3MQ4 FY26$38.7MQ1 FY27
Operating cash flow less capital spending.
Extreme Networks: operating cash flow against capital spendingExtreme Networks: operating cash flow against capital spendingOperating cash flowCapital spending$21.5M$5.4MQ2 FY25$30.0M$5.7MQ3 FY25$81.9M$6.6MQ4 FY25−$14.0M$6.9MQ1 FY26$50.1M$7.1MQ2 FY26$14.2M$6.4MQ3 FY26$72.8M$7.6MQ4 FY26$45.4M$6.8MQ1 FY27
Latest (Q1 FY27): Operating cash flow $45.4M, Capital spending $6.8M.

Capital allocation, year by year

Extreme Networks: where the cash came from (up) and went (down), by fiscal yearExtreme Networks: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingCapital spendingAcquisitionsBuybacksFY22: Operating cash flow $128MFY22: Net borrowing −$38.1MFY22: Capital spending −$15.4MFY22: Acquisitions −$69.5MFY22: Buybacks −$45.0M$128MFY22FY23: Operating cash flow $249MFY23: Net borrowing −$83.6MFY23: Capital spending −$13.8MFY23: Buybacks −$99.9M$249MFY23FY24: Operating cash flow $55.5MFY24: Net borrowing −$65.0MFY24: Capital spending −$18.1MFY24: Buybacks −$49.9M$55.5MFY24FY25: Operating cash flow $152MFY25: Net borrowing −$10.0MFY25: Capital spending −$24.7MFY25: Buybacks −$38.0M$152MFY25FY26: Operating cash flow $123MFY26: Net borrowing −$15.0MFY26: Capital spending −$27.9MFY26: Buybacks −$87.0M$123MFY26
Over these 5 years operating cash flow totalled $708M; the largest uses were buybacks ($320M) and net borrowing ($212M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$245M
Debt$165M
Net cash$79.5M
Due within a year$15.0M

Extreme Networks funds itself: free cash flow was $155M over the last twelve months, and $245M of cash and investments stands against $165M of debt ($15.0M due within a year, 16.3× covered by cash).

Extreme Networks: debt maturities by year (FY25)Extreme Networks: debt maturities by year (FY25)$15.0MYear 1$20.0MYear 2$145MYear 3
Principal due in each year as disclosed in the annual report, against $245M of cash and investments now.

Where the cash came from and went

Extreme Networks: sources (+) and uses (−) of cash, Q1 FY27Extreme Networks: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow$45.4MNet borrowing (+) / repaid (−)$35.0MCash drawn (+) / kept (−)−$32.8MBuybacks−$25.0MOther financing−$15.8MCapital spending−$6.8MExchange rates−$100K
Extreme Networks: sources (+) and uses (−) of cash, TTM to Q1 FY27Extreme Networks: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$183MBuybacks−$100MOther financing−$72.3MNet borrowing (+) / repaid (−)$53.8MCash drawn (+) / kept (−)−$35.5MCapital spending−$27.8MExchange rates−$655K

From profit to cash

Extreme Networks: net income to operating cash flow, Q1 FY27Extreme Networks: net income to operating cash flow, Q1 FY27Net income$16.0MDepreciation & amortization$4.3MStock-based pay$21.5MDeferred taxes$187KOther non-cash$1.0MReceivables−$3.3MInventory−$30.8MPayables$22.8MEmployee-related liabilities−$20.7MDeferred revenue$14.7MPrepaid and other assets−$59.5MOther liabilities$73.1MOperating cash flow$45.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2745617233
Q4 FY2644526135
Q3 FY2645595450
Q2 FY2643665356
Q1 FY2640745361
Q4 FY2534844375
Q3 FY25341024196
Q2 FY253512252105

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 FY27$45.4M−$6.8M−$25.0M$35.0M−$32.8M$38.7M
Q4 FY26$72.8M−$7.6M−$25.0M−$33.8M−$1.6M$65.3M
Q3 FY26$14.2M−$6.4M−$50.0M$26.2M$9.7M$7.8M
Q2 FY26$50.1M−$7.1M—−$3.8M−$10.8M$43.0M
Q1 FY26−$14.0M−$6.9M−$12.0M$21.2M$22.7M−$20.9M
Q4 FY25$81.9M−$6.6M−$25.0M−$2.5M−$46.3M$75.3M
Q3 FY25$30.0M−$5.7M—−$2.5M−$15.2M$24.3M
Q2 FY25$21.5M−$5.4M—−$2.5M−$10.8M$16.1M

Extreme Networks: income statement and cash flow

Extreme Networks, Q1 FY27: revenue $341M (+10% year over year), operating margin 6.8%. The chart follows the revenue to costs, profit and cash.

Extreme Networks: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.