EXTR - Earnings call transcript Q3 2022

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Operator

Good day and thank you for standing by. Welcome to the Extreme Networks Third Quarter Fiscal Year 2022 financial results call. At this time all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions]. today's being that advised be conference recorded. is Please hand over Vice to would of now speaker conference to like Relations. Investor Kovler, I your the today, Strategy and Corporate President Stan ahead. go Please

Stanely Kovler

release CFO the quarter. distributed Networks Thank you, Earnings filed Call. financial Ed President and With Strategy and Stan I'm me Networks a Corporate and Quarter Vice of Investor for Fiscal CEO, Conference results President detailing Extreme Remi Kovler, and X-K Operator. just Extreme 'XX Third today press Thomas. to We Welcome Relations. an are Meyercord Extreme Networks the

statements on For required to our future of is XXth, for materially period statements uncertainties and made law. factors strategies. and during includes filed available discussion convenience, have you of remind as extremenetworks.com. differ reflect results today. update of with no Extreme's in to our and these results, those to XX-K press to reconciliations, our described anticipated Investor cause on And by our forward-looking report the actual release risks that statements not at these Relations plans section June risk forward-looking reliance that the can by ended SEC. our Any except as your you which include involve may statements a XXXX, them we call put copy this analysis as from or by the growth duty about in our operational call, undue non-GAAP forward-looking We like expectations GAAP financial would and business, website the they today's as caution I

Edward to Extreme's Now, I will the turn President and CEO, over Meyercord. call

Edward Meyercord

characterized product led despite challenges. over both morning. as double-digit $XXX all us record XXX this corner customers at results million by demand an our X.X and that exceed quarterly $X sits We fifth growth and of was continues double-digit industry-wide for thank we solutions. backlog for and now the turn achieved to supply you We these see QX built QX Stan demand more orders quarter incremental you, consecutive Enterprise strong placed bookings revenue. Thank revenue strong bookings a joining was supply. A XX our than as XG million. over book-to-bill which 'XX product We million and into to and fiscal of the and record chain

growth has strength access points. Our Extreme's never of on gains the quarter universal we're in of been our the share. and marks revenue platforms consecutive QX industry top sales taking competitive adoption the by Small to hardware of Cloud, stronger WiFi position fifth a led large line. equate of XE our share product double-digit impact and switching

we ago. new continue in million acquired We expect XX%, position two we in to this XX% when to this $XX X.X Keep and cloud we quarter level up million thanks was Aerohive hold by year-over-year, have number and mind ARR strong this gain driven years execution. growth continue. approximately momentum, SaaS Today, to renewals. a was of share strong networking, organic $XX quarter-over-quarter, XX% bookings and

Infinite outcomes of better and our drive to vision for build ways new for look on Enterprise. we our the As customers

XX%. support We to with global our have when ONEedge. the providers. subscription our deployed wave next to $XX of environment subscription campus extended our ramp will provide solution, networks is outlook In by This native service prior growth million our our beyond support growth a business the fiscal infrastructure the expectation a exceed being to pace distributed on 'XX next-generation XX% of the at are in early service significant stages of cloud growth and XG long-term provider for we're business,

we've relationship, to cases we future growth. accelerate strength Given new that our use vendor of the added expect

's Extreme duplicate consists validation which product absence visibility our in into of generation complete are confirms and product process the lead among backlog, of order times more than of have half orders. our the our the products. We lowest latest industry

in these of of addition, due became ease. challenging allowed backlog secondary supply supply. have dates. our deal In industry-wide are availability. strategy vendors. we to With be chain recognized service supply quantities The quarter directly X when product suppliers, more with to We paying subscriptions supply us getting This secure as relationship our our significant Broadcom to strengthen is global constraints this position tertiary respect to and ship revenue environment committed now will on shifted Tier and we the has dividends chain form team component with constraints that and

While anticipate we the to and come see next quarters, we times on up fiscal throughout our revenue fiscal lead vendor the supplier, commitments down stepped the throughout 'XX. watermark ratio increases from in for getting this continue quarter based building expect next we several our and we're expect backlog June we be low will to the book-to-bill supply year

begin focused next to is June backlog Extreme customers. be better of finding releasing deliver We to for to new on expect outcomes by year. a position ways our at

Boras The network infrastructures This X automating the quarter, secure we Stad, and for while cloud-managed new largest the helped IT establish the municipality WiFi one the across city services network reliable faster delivers into speeds capacity, transforming team. in improved Sweden, a simplifying existing network data coverage, management of network and smart city.

the operating our this capability the sports are that their a us. end tether modernize networks data In best and Extreme's location, untapped app customers so, from user experience own edge customers able connectivity within Cloud-driven by while vertical. This of unlock workplaces, entertainment examples devices is efficiency. previously and workload the more. usage disparate remote secure, telemedicine, insights in usage, enable patterns. learning, for differentiator into improving The and provide beyond network are together to distance WAN and their helping to campus more personal and unique a customers for are delivering We services doing

and Extreme's these data are However, capabilities. of more more customers embracing also

can efficient reduce them by carbon optimize location-based insights data SaaS energy WAN or and For help segments to specific with resources available and insights footprint well addressed analytics cities, smart their can ensuring like manufacturing track. devices, people, Further usage. or networking from network

end at this advances product success customers network and AML our CoPilot, the introduced a our of time Lastly, management the fully drove public XXXX. in while XXXX quarter strong during more. with as in from year, value products that prior of such benefit networking, In-campus and leverage the investments, launch, reduced the as data fiscal exit growth recently can the tier

quarters. demand multi-gate the XX% in leading Adoption will Wireless believe market drove of Our new XE of strongly transition. us revenue just in We over first-to-market WiFi in move the Extreme's two and XE XE future. is WiFi wireless win all to switching also drive APs

SD-WAN, and industry this portfolio for May. payment our generally and into a of of Cloud A available is As it Extreme will week, SD-WAN feature-rich now goal, from ahead of become of inclusive combines This entire iQ, our the managed SD-WAN quarter quoting single initial capabilities from is to available leading our subscription. have point XIQ. enterprise ExtremeCloud another Ipanema proof strategy fully of in

summary, of the gains and backlog. bookings The in the our enterprise book-to-bill releasing share market and from strength in our the So, of with markets. normalization SP of

Remi revenue, May discuss earnings I'll supply, everybody to at Day XX. with to provide detailed turn strategy, flow, of our an see hope call acceleration CFO, model go-to-market the XXth upcoming unprecedented on Thomas. over company. and extremes, Fiscal expect our long-term updated Investor through to growth we and the for We cash where drive plans I our expansion, will that, cloud And

Remi Thomas

Ed. Thanks,

earnings Page Strong Fiscal As for carrying data from or for strong grew X, manufacturing, XX% than share of XXX per was revenue $XXX our is book-to-bill Ed drove SaaS we're in deck healthcare, growth ARR, a our of revenue highest at Services also double SaaS vertical million found sports exceptional and reached APAC year-over-year well in board. QX, earnings growth and year-over-year the standpoint an a quarter-over-quarter. million up recurring show larger of XX% and times million revenue, over $XXX on historical chain. supply bookings, year-over-year by currently for most we SaaS from strong for was grew earnings bookings X our product at Americas. on company QX growth Product revenue the QX, The quarter was total of constrained From this growth of and of demand and high XX% on $XXX continues $X.XX, of deck. and of revenue noted, revenue XX year-over-year. total the which We revenue Page XX% EMEA are across of deferred end and another be website. year-over-year revenue, we $X.XX Non-GAAP ARR $XX year the Extreme by On our looking and and of SaaS all entertainment, to a XX subscription the quarter. strongest saw portfolio looking geographic wired at XX% XX%. services flat followed the wireless from posted subscription. annual government, product quarter-over-quarter. executing can and with and year-over-year, digits up XXX, basis book-to-bill at as year-over-year. be year-over-quarter million total last company X% was and quarter. XX% came enjoyed quarterly backlog was the year-over-year

from strength service a or were at $XXX and growth the and last quarter from year-ago subscriptions. sitting the for bookings and $XX.X in Total and sheet constrained to flat total quarter. sequentially. up A due on of X% subscription fifth the and few $XX.X new by wide revenue the exceptional, consistent Wireless revenue, rose up revenue subscription maintenance reached the Driven in was maintained quarter of and sequentially. million, days growth very total XX% company and managed in trends. chain quarter. and a of our drove growth balance product down might million numbers row. double-digit to cloud XX% to maintenance, a but supply was cloud driven million strong revenue deferred year-over-year, XX% to The renewals revenue XX% QX Services of year-over-year subscription primarily Turning business largely by recurring revenue high challenges. book down Overall bookings services, including sequentially,

guidance. margin million the driven points by higher offset implemented increases QX at cost. have in we cost, and Our million QX, XX.X% non-GAAP supply was mix revenue $XXX.X October, of in Ipanema. least well in productivity reflecting expenses came and all, if in of and we and sequential company's additional we and from in higher OpEx the of partially XX% year-ago XX.X% acquisition an XX%, target not midpoint XXX expedite X.X% the the long-term our Investor at $XXX price of in basis margin drive percentage chain favorable non-GAAP operating and freight year-ago marketing margin XX.X% spending ahead gross in for quarter, gross up freight gains. -- higher million R&D Day of were sales of higher year-over-year Gross down for set last margin would delivered from from decline All the expenses from at a part The was $XXX.X the operating and QX. up internal as from fees XX% in been the quarter by range our most the to and at slightly year. XX.X%

Our due net distributors our remained [Indiscernible] QX debt by million from quarter. and from flat was $XXX this at to impacted building increasing receivables

guidance. turning Now, of outlook operating a 'XX revenue reiterate and for to XX% growth double-digit our margin. XX% We to fiscal

we to expected $X.XX fees to $XXX in continue non-GAAP business. be as range is anticipated million For to $XXX to our are be non-GAAP the or margin in be of $XXX.X $XXX.X in range QX, expect share. of be to QX million are expedite range in costs the range gross revenue expect to million to operating we to to $XX.X to of freight the to of QX XX% earnings $X.XX and XX% anticipated million elevated diluted million. per non-GAAP impact expenses $XX.X QX million. the

with and our market along our strengthened record top-line. backlog, our in visibility has to confidence the with Given trends, respect company

the XX% lead anticipate some through As the a our will and We and that to with shipping range impact range result, XX% XXXX, accelerate fiscal gross to fiscal combined expedite year the margin to we the XX%. growth actions pricing in exiting fees of reduction in recent revenue to full to mid-teens expect of 'XX. recovery 'XX of year fiscal above

'XX, it further Investor on upcoming will fiscal the basis. gross a will to our XX% to at to the provide begin With question-and-answer to a outlook range we of May XXth. increase session. Operator that, on at non-GAAP out on turn Looking margin I now commentary Day I expect this to XX% over

Operator

Thank you.

reminder As to a ask you need to [Operators question will Instructions].

The comes Needham. question Alex first from with Henderson

Your line is open.

Alex Henderson

wow, is very big acceleration. Congratulations. Great. say can much, all I Thank that's you and a

take about concerned over that's currently chain, and the I would that lockdowns country, million some but now portions apartments XXX little going in locked believe yet. going So, large not to China, in And for chain any massive fully it to quarters I am what what's have a would their parts factored it too exposure people with chips, that on impact whether to supply be elements? whether outlook? couple China to of manifest right the to to be in supply of think in I you in your Can on that other or challenge you people. that extent a out into or talk it

Edward Meyercord

driven it's you've by Ed. manage aware for all of hands-on answer mentioned outlook that will is, and fact the you as factored shared have the The as and top-line something is It set, and big this But we us, This very chain. 'XX, that Alex. supply Broadcom given much I as XX/X into that is how our be deck Thanks, all, are before. far really supply. first our that is chip it know, our relates being as that we've to change Sure. we throughout is that say we fiscal this

Historically, these out our the providers would and the driver in with and confident relationships that's so not direct in say been has establish dates outlook. providers. securing fourth aggressively issue now in are The of ship we future we and secondary tertiary quarter, component the and process constrained and moved main to We we're I ODMs the and the relied we're on confidence. our of part into quantities

We how Their our confidence aware going of rely the China lockdowns on what's there are us in and they provide and levels. very of over with that much to we in on suppliers feel. terms feedback

we in in -- stepping and in -- QX our Obviously the built it's around and and So near-term, we there, how watermark, guiding that's mentioned, through 'XX. the that's we're as we're this we confidence low think confident forecast. how what we we have fiscal

chain. mindful we're throughout it's of yes, our everyone aware for of something we've it, that It's it. supply of entire We're So, mind in top considered outlook. our

Alex Henderson

of is look of of you the in guide, the 'XX It's FY quarters that that I out slope it providing As and -- to more the loaded 'XX heavily in. the FY then very back-half assume of terms year? that a March growth. really Is that assessment June fair

Edward Meyercord

chain it on Remi out is let few that assuming it's mentioned, providers, our in We're component to begin as X see to have so comments, we stepping And in relief I'll my quarterly be and expect to fiscal. we're oriented, of release it. as a I come our when in, half we visibility supply largest step. X very but a a based then in And I in called out Tier second we the of backlog. -- our June to position of

Alex Henderson

question last the And just one then I'll floor. cede

of combined share is with largest competing think orientation me all, focusing talk that opportunity gain a just for what share the which you're they're Arista campus the supply it equation, creating and look that of in first to in towards you opportunity increased data increased the to the XX% the to and availability Can On as into data XX% center. subsidizing Cloud do to out and because the looks to attack is you skewed the or I side vicinity threw of like that seeing in the seem XX% And from an on the parts gains? you as an accounts, somewhere plus prices does the their points open pricing guys. making Cisco their enterprise for like with consistent with does largest significant their issue? it Are, there customers also much

Remi Thomas

as I And to Cisco channel science prioritization for Umbrella the the we've as with terms opening and in a it, offset to with channel community. price to agree customers we larger the out XX% precise makes think factor, for supply your but your share on as us see, behind Obviously, been also not and numbers. think contributing I chain. out has of that's Alex. direct able the below to the increased interesting which opportunities I there's projects, But end-user Enterprise just helped up would what tend we of been has a to sense price larger raise in us partners well cost point, well, taking XX%

your So, applying that really I really center, think subsidy not on there's to fund we're space. enterprise in up data in center data assessment is comment I the on, whether not can't or a

player that it's largest that's own So I supply chain They from raising was to can are our share very I and despite constrained, for Cisco, our to clearly able fair think price constraints, space. you extent on, taking comment hard think the they it benefit a have in me I we're to been but the that assessment. and tell it we're

Alex Henderson

really a great on Congratulations execution.

You guys Thanks. up. really have stepped it

Edward Meyercord

Alex. Thanks,

Operator

with And our Eric question you. Thank from next Lake comes Street. Martinuzzi

Your open. line is

Eric Martinuzzi

Yes, wanted on outlook to for I QX. the focus

midpoint that on Looking down line, would the at top that versus million be XXX QX. the here year-on-year

the million at that the sort given but XXXX, a I you're And know just Analyst XXX does XX? what FY what Day, -- You're more at it our outlook half wondering, about on year first for of say going to of ago. comment

Edward Meyercord

to me, all Remi you as I'll driven mentioned just follow but I let supply Alex, comment and it's chain. by

getting that's they're the that much desired of importantly, working get supply. to dates and that relationships. with at. our driver. a helpful how work direct And have are been go our establishing doing terms to Tier lot the has the there work the main getting been of X, -- ship and our in many on more strategy in all X secure highlighted as connections, That the fronts. is And this So, teams has directly teams, to been shift I I them mentioned, to Tier quantities very those savvy

The and is, other cost and we at re-engineering, we thing perspective trying components do that how from do more out parts? margins. Normally swap that look a do drive would we we to

Here, teams where a teams have teams on that. XXX with the I'd to engineering them chain a the operations components and find swap parts great tactical been volume doing have but to we we of working our say very exercise in it's supply our out need job

initiatives So, confidence the the lot calling different is driven. of are a it's in us chain tax giving of number which combination supply that

expect change to looking come do fiscal this but As beginning we we then the book-to-bill, in we mentioned, the see in obviously that we're still build backlog quarter 'XX throughout and down. and to

the year, you and look this we -- book-to-bill So, change backlog terms share the and built as bookings that next that out assume we're you this then outlook the year, be change we line, and the then just the taking with and significant for create even we're number backlog lower and Extreme. flat of bookings at therefore, growth in that number, growing along in look of in backlog you year if to all expect

for contemplate that's what release you growth that's then really the out, and So backlog, we're move where up. of you gearing up when take numbers the further

oriented, expect continue. all mention chain growth near-term play much mentioned add to we some do longer-term So is anything in Remi, -- initiatives, there's that that I into what -- said. subscription I want to very those to and come you this rates that to then growth supply of and factors other the not

Remi Thomas

little put just behind said. what to a Ed just sure Yeah, color

supply where decline QX, year-over-year really we year-over-year entering see of XXX the single quarter 'XX, when mid-to-high in should is growth. you chain because I'd the at you a slight then supply QX be see and think will QX about be you that in almost these a the digit So fiscal mid-single to fiscal say only constraints $XXX and strong really will an going very next and growth see year. then with see complete up acceleration constraints And above and double-digit chain QX growth. strong, QX, should finally an growth. digit comfortably double-digit QX million you're in

being the is around this we mark it the $XXX with crossed QX. see as ramp, So, million

Eric Martinuzzi

was its about a behind the bit What a you just for linearity looking you the increase year ago? believe little on you AR back quarter, can DSO here Okay. spike, the versus And that then saw the March talked there.

Remi Thomas

have able from on our in have I quarter. Yes, split A which it's shipments very, had first be January a terms, really in quite February. third the months and in of collect the communicated the usually And but ramp, we our we shipments. We based off month. the on the year. shipments and haven't shipments products do payment very to of in couple we'll normal in those There's lot were revenue low a in

where you we're million. able have And high is normally increase which we of about a $XX saw of that as do, so, pool to receivable why not as

Eric Martinuzzi

Thank for Okay. questions. you taking my

Edward Meyercord

Thanks, Eric.

Operator

Thank you.

comes Riley. question next B. Our with from Kang Dave

line open. Your is

Dave Kang

the quarter morning. Thank My situation regarding of supply question June as first peak? chain you, is situation, the the far good and the intensity as the is

Edward Meyercord

low I for but Yes, the us, call for the constraints. peak it's it watermark revenue,

the do projects And unlock. established in some also secondary we the is here to to of we that we of to build some is supply it parts. -- with that of our with we were peaking able had look and But component has the our a that now quarter as and we're March outlook lot low running

Dave Kang

so the beyond And improvement quarter? is gross to of bottom, margin modest June XX% like we you're some it see should then guiding and sounds increase, kind XX%,

Edward Meyercord

you want color if commentary. Remi other let I'll and to any add right That's

Remi Thomas

of orders booked deliver because to prior yet we backlog, certain increase. the historical that Yeah of the strength have to of price some were our

a you're release that In going couple quarters. the meantime, to price to level fees So, the so of of have through we of and and get we backlog a still benefit it expedite however, as the coming increase, high freight takes costs. while full the see the next

Dave Kang

you more where or? talked Can Got you mentioned customers new we about use for provide color your then it. about And Ed, XG, you've about talked cases.

Edward Meyercord

And growth you named to which the in Cloud-Native we we of as we a I talked of about also part it were supply is that have service, our two biggest infrastructure top tell their that is relates Swedish can one is the X. customers very as Manufacturer. our done from perspective, well always and that large that's at -- their existing have it No, have less large vendor with factor -- annual opportunity constrained. portfolio is review, chain we them that

so, go And larger to of insight up the some that fill and against able share been been take of competitors account. demand we've we've to able from we that

us stead opened really on the momentum very a very we're good right new use on if on partnership. much have yes, new We with that roll and us to it we opened we're and so proof-of-concept for account, of opportunities. some that the, starting sub-XX% we them we're growth overall for And comment to put use and to a growth CNIS. they've that our us that, them then believe that's you big had that see a so working to we be we'll players. build market ramp. liberty will investing means about future we're cases to see and are their A then to and now them where our cases yet starting them. and it's call within build this for only you are And us now deployments out this at proof-of-concept, on that look to for based we're deploy at through see phase And the on with I'm there's that not see with still at what of to moving it proof-of-concepts share work customers early they've some opportunities up you large door see experiencing in for lot on the you you us. and people in the excited and now. funnel the other So that from us very small players, we're starting They help and think but excited growth on chosen

Dave Kang

fiscal concerned, are million my this on as final XG far a track do as year? And still -- is on year and revenue to next to are $XX $XX million you question $XXX then fiscal you is, million

Edward Meyercord

are but about know next million Yeah. absolutely $XX track on exceed guided we year. said this increase I we've to what we to fiscal the that year for don't

SP, not are So, I of don't we track, and we $XX million in I'm but said for out XXX a vector high-growth fiscal that's Extreme. if to gave million for feel I over XG clearly we've healthy that. -- of we future, time that then number 'XX believe $XXX the inside that for very know confident and is very our a on us

Dave Kang

you. Thank

Operator

Thank you.

next Hallum. question comes Craig Schwab Christian Our - with from

is line Your open.

Christian Schwab

Great, thanks you strong through as and very but 'XX? taking growth top-line verticals my for expectations about can you loosens growth backlog, can then top-line going questions. explain year such talk go Really I work can to outlook. supply we up expectations? be begin the this optimistic as chain Remi understand throughout driving following year we you strong that are believe to your fiscal

Edward Meyercord

Yeah, question that's a great Christian. Thanks for asking.

be unabated getting bookings ahead increase. feel entertainments, strong But manufacturing, sports, government, bookings getting of over the I times we've in some customers past your -- longer quarters. We of across healthcare, if and been enjoying sometimes -- price look at of the the driven by education, in So, strength of few growth line all may it of the terms in we because verticals. lead see really

the and we first driver that the So of that's for funnel the this don't pipe next based any we see on year, slowdown. really in see

The other $XX anywhere the with mean, backlog. $XX start equation -- million $XX quarter, in is we Christian, side years ago between I the is to of million million the would three to of million that which product is quarters in now, XX% quarter. generate basically [Indiscernible] revenue. of backlog, more $XXX to the we're product would Right we of revenue which two XX% product than was

accelerate our growth. to mid-teens growth to obviously for of and is in with the But bookings year-over-year will So, when ability, you combine you QX trend 'XX that doubt specifically continue bookings, in that release no fiscal drives backlog a the combination see as to and the what which decline. both really

Christian Schwab

$XX Remi to lead had what what are your you currently million your in $XX backlog and lead times when quarterly times?

Remi Thomas

[Indiscernible] The should how lead time two many not about it but they're on in depends weeks main in at months. this. the And were measured measured be you skews, several today that's It's cases, the really months. months. time thinking

Christian Schwab

then few a follow-up my minutes just last said you question a what ago. on And is

You given price or their know -- let talked price about is way? way, another and patterns leading the you channel increases. customers increase your order customer that that Have lead times guys coming organized an fashion or in

Remi Thomas

We now our any ahead partners large distributors increase. of notify did, about month typically price yeah. and We a business

Christian Schwab

Thanks, questions. Great. Alright, perfect. No other guys.

Operator

[Operator looks like Henderson with Instructions] from a we have Alex follow-up and Needham.

is line Your open.

Alex Henderson

the of the [Indiscernible]. Great. so June expectations of quarter, to the terms even very that not lapping like a from will I backlog be though or it wanted be minimum June you're actually on one, quarter, order sounds growth book-to-bill orders you in the around strong at I building in again. and revenue, be we'll focus actually whether you'll Thanks, above assume year but would might have much year that book-to-bill orders booking but in the up last up? in terms again rather finally

Edward Meyercord

an but due in from is demand you'll going to a then just continuing. some the We jump quarter, one mean, answer Remi to perspective. follow some I'll the of I then in will had is be that incredible quarter yes. on booking’s and March price definitely in a over just is marketplace. and how increase lot executing chain the of due And then a in we're that of and that what's supply that book-to-bill

really funnel in at that continues in this grow quarter clip So, strength we our as the and nice build to continue look opportunities, the a as to forward we well. of see bookings

the very bookings strong. outlook for So, remains

constraints. backlog on the chain supply June quarter based the in build absolutely will We

on of they're So, quarter for today demand definitely forward go only quarters over expect the June Alex, several continue as in but based to I expand think looking XXX to not and and out, bookings. strength we next you're we'll the

Alex Henderson

Just I book-to-bill I could book-to-bill the correctly? against your annual up difference there's to order XX% and it orders will you above year-over-year here, actually that that in growth year-over-year. that because orders remember think clear rate the between decline so last if one, what, order you be was the believe be saying one be your year-over-year Are year

Remi Thomas

subscription a I and QX? year-over-year be was slightly including on expected to services Yes. bookings basis are told in up,

Alex Henderson

comps the in start out year, book-to-bill of year-over-year to the above with While decline [Indiscernible] still the in the back-half against one? solidly great. calendar that's Then is flatten that on the

Remi Thomas

half above compare some be will the be. be will to book-to-bill although 'XX, tough of the quarters one year-over-year the for fiscal think I first in

Alex Henderson

Right.

makes Come That sense. back Okay. the to stuff. good pricing

dealers month you advance, dealers that notified in price say you've notify your additional some your increase? You have a

Remi Thomas

obviously mentioned you one. notified a when that of really but the it's it's increase, Ed XX% took XX% lower ourselves to not recent price But most did we it earlier price haven't we We've place and officially Cisco, just but extent. increase, that quoted so the below the said we Alex, keep

Alex Henderson

little just confused. I'm a

one Have did we you that the that's right? implemented you already yet? been That in quarter done? that hasn't about, announced So, know March one another actually

Remi Thomas

we was the in just quarter, in competitive We're We else. announced effective but one stay to trying it And the April. marketplace. anything not in March have announced

Alex Henderson

That's for. the Perfect. clarification I looking was

Going a back going verticals what's into with track us it's it. to for on can Frankly, E-rate? remind the of second, hard keep just you

Remi Thomas

that in in what the to Extreme our completed total are basis and share. Networks terms we season and on year-over-year they for be like filings fair growth just XXXX the is E-rate of participated spend And season going overall looking will actively a be. The was won

Alex Henderson

ordering so All number a even in quite pipeline on of in their were rates? it ever closure is one -- rather Not Have mentioned the of last the you I little a February bit then closed, worse EMEA much though in rates? deals strong and starting the could if pipeline, there any was then seen the if terms in right. war terms their was slowdown March in but that got of question, change results I timeframe. in of that call And that the

Remi Thomas

rates. we Europe. words, customers and a other conversion outside higher we was ratio that of one wanting haven't, increase. for anything, in pipe do If And if This close business the haven't in we in any on us our anything, in saw higher I Eastern March. of In of we case, of things because accelerated earlier. ahead price of the slowdown small the just our get mentioned Russia seen Ukraine, season situation because to In March what sign

Alex Henderson

Thank Perfect. you.

Operator

other closing Thank like Ed queue. back call I'm you. And for remarks. questions the to in Meyercord turn the to showing I'd no

Edward Meyercord

Catherine. us joining Thank Thanks, today. you, for everybody Okay.

on execution both shout challenging our I to front, demand and out quarter the So, to delivering a side on Extreme environment. employees on incredible supply just want an as well the as

higher you Very building Major we're investors, software, headquarters. we're all WAN And York as solutions venue. lot and see services on demand We'll equation importantly hoping subscription, terms that as far Day. be growth far City, bookings we're growth, gen New fun For edge of Baseball side and that. building demand in side Investor on to and how at as in a League as have we the of in this confidence of the

have that deep long-term We to detail a lots Remi we model go we still into details and share chain. -- supply color will want everyone. provide with and And finally, on that of

you other hopefully clear there to investor able to conferences. us join also will be in calendar So the and

thank great participation, have for time, day. So we your you again, your a appreciate

Operator

This you concludes Thank participating. conference call. today's for

have You a day. may now Everyone, disconnect. great

Extreme Networks (EXTR) 27 Apr 222022 Q3 Earnings call transcript