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F5 vs Extreme Networks: FFIV and EXTR compared
F5 is the larger company: $865M of revenue in its latest quarter (Q3 FY26) against $341M for Extreme Networks (Q1 FY27). F5 is growing faster (+11% against +10% a year earlier). F5 is more profitable, with an operating margin of 24.7% against 6.8%.
Where the money goes: FFIV and EXTR
F5 (FFIV) · Q3 FY26
F5, Q3 FY26: revenue $865M (+11% year over year), operating margin 24.7%, net earnings $208M, operating cash flow $316M. The chart follows the revenue to costs, profit and cash.
Extreme Networks (EXTR) · Q1 FY27
Extreme Networks, Q1 FY27: revenue $341M (+10% year over year), operating margin 6.8%, net earnings $16.0M, operating cash flow $45.4M. The chart follows the revenue to costs, profit and cash.
| F5 (FFIV) | Extreme Networks (EXTR) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q1 FY27 |
| Revenue | $865M | $341M |
| Revenue growth, Y/Y | +11% | +10% |
| Gross margin | 82.2% | 62.1% |
| Operating margin | 24.7% | 6.8% |
| Net earnings | $208M | $16.0M |
| Net margin | 24.1% | 4.7% |
| Operating cash flow | $316M | $45.4M |
| Free cash flow | $281M | $38.7M |
| Market value | $17.9B | $3.2B |
| P/E | 24.6× | 61.6× |
| Analysts’ mean target | $444.67 | $33.62 |
Where the revenue comes from
F5
- Product: $463M (54%)
- Service: $402M (46%)
Extreme Networks
- Product: $218M (64%)
- Subscription and Support: $123M (36%)
Questions
Which is bigger, F5 or Extreme Networks?
F5 is the larger company: $865M of revenue in its latest quarter (Q3 FY26) against $341M for Extreme Networks (Q1 FY27).
Is F5 or Extreme Networks growing faster?
F5 is growing faster (+11% against +10% a year earlier).
Which is more profitable, F5 or Extreme Networks?
F5 is more profitable, with an operating margin of 24.7% against 6.8%.
More: F5 earnings · how F5 makes money · Extreme Networks earnings · how Extreme Networks makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 6, 2026; 10-Q filed Oct 29, 2026). Fiscal quarters can end on different dates. Not investment advice.