two Q1 2027 Earnings Recap

Extreme Networks reported double-digit growth and raised its fiscal 2027 outlook; the stock rose 2.5%, a roughly flat reaction. The quarter paired faster SaaS ARR growth with higher earnings, while management’s outlook points to continued 10% revenue growth.

Key Takeaways

• Revenue grew 10% year over year, the seventh consecutive quarter of double-digit revenue and product revenue growth.
• Non-GAAP EPS increased 50% year over year.
• SaaS ARR grew 22% year over year to $265 million; management expects growth above 20% for the rest of the year.
• The company raised expectations to 10% growth for both fiscal Q2 and full-year fiscal 2027.
• Platform 1 accounted for more than half of subscription bookings, and the company booked 44 customers spending over $1 million, up from 36 a year earlier.