10-Q Filing

EXTREME NETWORKS INC CIK: 1078271 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-027054`
Period End Date	20160930
Filing Date	20161102
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	extr-20160930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 53 Cash Flow Statement 53 Comprehensive Income 8

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.58M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$3.26M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$94.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$76.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$82.03M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.27M	USD	Point-in-time
Accounts receivable, net of allowances of $2,582 at September 30, 2016 and $3,257 at June 30, 2016	`AccountsReceivableNetCurrent`	$81.42M	USD	Point-in-time
Accounts receivable, net of allowances of $2,582 at September 30, 2016 and $3,257 at June 30, 2016	`AccountsReceivableNetCurrent`	$68.25M	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories	`InventoryNet`	$43.40M	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Inventories	`InventoryNet`	$40.99M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$11.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$12.44M	USD	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Convertible preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$225.41M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$228.97M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$29.58M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.06M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	106.90M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	104.94M	shares	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$19.76M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$11.71M	USD	Point-in-time
Goodwill	`Goodwill`	$70.88M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	104.94M	shares	Point-in-time
Goodwill	`Goodwill`	$70.88M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	106.90M	shares	Point-in-time
Goodwill	`Goodwill`	$70.88M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$25.24M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$25.05M	USD	Point-in-time
Total assets	`Assets`	$363.11M	USD	Point-in-time
Total assets	`Assets`	$374.42M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.63M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$19.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$30.71M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$28.33M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$27.14M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$19.83M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$9.24M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$8.68M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$9.60M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$8.62M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$72.93M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$70.70M	USD	Point-in-time
Deferred distributors revenue, net of cost of sales to distributors	`DeferredRevenueNetOfCostOfSalesToDistributors`	$26.82M	USD	Point-in-time
Deferred distributors revenue, net of cost of sales to distributors	`DeferredRevenueNetOfCostOfSalesToDistributors`	$30.23M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$27.38M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$26.69M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$211.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$204.36M	USD	Point-in-time
Deferred revenue, less current portion	`DeferredRevenueNoncurrent`	$21.54M	USD	Point-in-time
Deferred revenue, less current portion	`DeferredRevenueNoncurrent`	$21.93M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$37.45M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$32.62M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$4.69M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$5.13M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.73M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.63M	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 8)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Convertible preferred stock, $.001 par value, issuable in series, 2,000,000 shares authorized; none issued	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
Convertible preferred stock, $.001 par value, issuable in series, 2,000,000 shares authorized; none issued	`ConvertiblePreferredStockNonredeemableOrRedeemableIssuerOptionValue`	-	USD	Point-in-time
Common stock, $.001 par value, 750,000,000 shares authorized; 106,899,623 shares issued and outstanding at September 30, 2016 and 104,942,665 shares issued and outstanding at June 30, 2016	`CommonStockValue`	$105.00K	USD	Point-in-time
Common stock, $.001 par value, 750,000,000 shares authorized; 106,899,623 shares issued and outstanding at September 30, 2016 and 104,942,665 shares issued and outstanding at June 30, 2016	`CommonStockValue`	$107.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$891.60M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$884.71M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.87M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.75M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-798.22M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-791.74M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$90.20M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$90.73M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$374.42M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$363.11M	USD	Point-in-time

Income Statement 53 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$90.13M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$91.38M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$32.51M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$33.20M	USD	1 Quarter
Total net revenues	`SalesRevenueNet`	$124.58M	USD	1 Quarter
Total net revenues	`SalesRevenueNet`	$122.64M	USD	1 Quarter
Product	`CostOfGoodsSold`	$44.93M	USD	1 Quarter
Product	`CostOfGoodsSold`	$46.93M	USD	1 Quarter
Service	`CostOfServices`	$12.47M	USD	1 Quarter
Service	`CostOfServices`	$12.53M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$57.40M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$59.46M	USD	1 Quarter
Product	`GrossProfitProduct`	$44.45M	USD	1 Quarter
Product	`GrossProfitProduct`	$45.20M	USD	1 Quarter
Service	`GrossProfitService`	$20.04M	USD	1 Quarter
Service	`GrossProfitService`	$20.67M	USD	1 Quarter
Total gross profit	`GrossProfit`	$65.12M	USD	1 Quarter
Total gross profit	`GrossProfit`	$65.25M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$18.30M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$20.27M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$36.06M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$36.96M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.18M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.29M	USD	1 Quarter
Acquisition and integration costs	`BusinessCombinationAcquisitionRelatedCosts`	$338.00K	USD	1 Quarter
Acquisition and integration costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.32M	USD	1 Quarter
Restructuring charge, net of reversals	`RestructuringChargesNetOfReversals`	$5.60M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$4.47M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$4.14M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$75.91M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$70.00M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-10.80M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.76M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$27.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$57.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$826.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$647.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$967.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-223.00K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-10.63M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-5.57M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$898.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$907.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-11.53M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-6.48M	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.11	USD	1 Quarter
Net loss per share - basic	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
Net loss per share - diluted	`EarningsPerShareDiluted`	$-0.11	USD	1 Quarter
Shares used in per share calculation - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	100.98M	shares	1 Quarter
Shares used in per share calculation - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	105.95M	shares	1 Quarter
Shares used in per share calculation - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	100.98M	shares	1 Quarter
Shares used in per share calculation - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	105.95M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss:	`NetIncomeLoss`	$-11.53M	USD	1 Quarter
Net loss:	`NetIncomeLoss`	$-6.48M	USD	1 Quarter
Depreciation	`Depreciation`	$3.08M	USD	1 Quarter
Depreciation	`Depreciation`	$2.44M	USD	1 Quarter
Amortization of intangible assets	`AdjustmentForAmortization`	$8.89M	USD	1 Quarter
Amortization of intangible assets	`AdjustmentForAmortization`	$7.64M	USD	1 Quarter
Provision for doubtful accounts and allowance for product returns	`ProvisionForDoubtfulAccounts`	$223.00K	USD	1 Quarter
Provision for doubtful accounts and allowance for product returns	`ProvisionForDoubtfulAccounts`	$556.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.67M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.48M	USD	1 Quarter
Non-cash restructuring charges	`RestructuringCostsAndAssetImpairmentCharges`	$1.34M	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$326.00K	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-695.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.95M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-31.85M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.67M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.40M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.13M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.56M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.15M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-10.20M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.32M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-3.82M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenueExcludingDistributorRevenue`	$-2.62M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenueExcludingDistributorRevenue`	$-4.12M	USD	1 Quarter
Deferred distributor revenue, net of cost of sales to distributors	`IncreaseDecreaseInDistributorRevenue`	$3.41M	USD	1 Quarter
Deferred distributor revenue, net of cost of sales to distributors	`IncreaseDecreaseInDistributorRevenue`	$-6.90M	USD	1 Quarter
Other current and long term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.17M	USD	1 Quarter
Other current and long term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-842.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.57M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$6.53M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.64M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$633.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-633.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.64M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$1.62M	USD	1 Quarter
Repayment of debt	`RepaymentsOfLongTermDebt`	$3.25M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$3.42M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$1.85M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$230.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$166.00K	USD	1 Quarter
Foreign currency effect on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$38.00K	USD	1 Quarter
Foreign currency effect on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-323.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.14M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$5.80M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$94.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$76.22M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$82.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$102.27M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$76.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$82.03M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$94.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$102.27M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net loss:	`NetIncomeLoss`	$-11.53M	USD	1 Quarter
Net loss:	`NetIncomeLoss`	$-6.48M	USD	1 Quarter
Net change in foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$126.00K	USD	1 Quarter
Net change in foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-864.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$-864.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTax`	$126.00K	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-12.39M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-6.35M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.