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How Extreme Networks (EXTR) makes money

Extreme Networks (EXTR) made $341M of revenue in the first quarter fiscal 2027 (Q1 FY27), +10% from a year earlier. Product brought in $218M (64%); Subscription and Support brought in $123M (36%). Of every dollar of revenue, 62¢ was left as gross profit, 7¢ was left as operating profit, 5¢ was left as net earnings.

Drawing the Sankey…

Extreme Networks revenue by segment, Q1 FY27Extreme Networks revenue by segment, Q1 FY27Product$218MSubscription and Support$123M
Extreme Networks: revenue by line, Q3 FY25 to Q1 FY27Extreme Networks: revenue by line, Q3 FY25 to Q1 FY27ProductSubscription and Supp…Product: $218M latest$218MSubscription and Support: $123M latest$123MQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
The mix barely moved between Q3 FY25 and Q1 FY27.
Extreme Networks revenue by quarterExtreme Networks revenue by quarter$285MQ3 FY25$307MQ4 FY25$310MQ1 FY26$318MQ2 FY26$317MQ3 FY26$339MQ4 FY26$341MQ1 FY27
Extreme Networks: where each dollar of revenue goesExtreme Networks: where each dollar of revenue goesCost of revenue38¢Gross profit62¢Operating expenses55¢Operating profit7¢Income tax1¢Net earnings5¢Operating cash flow13¢Free cash flow11¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Product$218M64.0%-0.1%+12%
Subscription and Support$123M36.0%+2%+6%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$341M100.0%
Cost of revenue$129M37.9%
Gross profit$212M62.1%
Operating expenses$189M55.4%
Operating profit$23.1M6.8%
Income tax$2.5M0.7%
Net earnings$16.0M4.7%
Operating cash flow$45.4M13.3%
Free cash flow$38.7M11.3%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$341M+10%
Q4 FY26$339M+10%
Q3 FY26$317M+11%
Q2 FY26$318M+14%
Q1 FY26$310M+15%
Q4 FY25$307M+20%
Q3 FY25$285M+35%

From Extreme Networks' 10-Q filed Oct 29, 2026 (on EDGAR).

Questions

How does Extreme Networks make money?

Extreme Networks (EXTR) made $341M of revenue in the first quarter fiscal 2027 (Q1 FY27), +10% from a year earlier. Product brought in $218M (64%); Subscription and Support brought in $123M (36%). Of every dollar of revenue, 62¢ was left as gross profit, 7¢ was left as operating profit, 5¢ was left as net earnings.

What is Extreme Networks' biggest business?

Product: $218M in the first quarter fiscal 2027, 64% of revenue, +12% from a year earlier.

What is Extreme Networks' profit margin?

Net earnings were $16.0M, 4.7% of revenue, in the first quarter fiscal 2027; the operating margin was 6.8%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.