10-Q Filing

EXTREME NETWORKS INC CIK: 1078271 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-17-023316`
Period End Date	20170930
Filing Date	20171109
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	extr-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 52 Cash Flow Statement 55 Comprehensive Income 9

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.19M	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.69M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$102.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$94.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$153.01M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$130.45M	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,685 at September 30, 2017 and $1,190 at June 30, 2017	`AccountsReceivableNetCurrent`	$116.50M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,685 at September 30, 2017 and $1,190 at June 30, 2017	`AccountsReceivableNetCurrent`	$93.11M	USD	Point-in-time
Convertible preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Inventories	`InventoryNet`	$47.41M	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Inventories	`InventoryNet`	$58.10M	USD	Point-in-time
Convertible preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$18.24M	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
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$27.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$298.84M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$345.85M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$38.63M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	750.00M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$30.24M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	113.30M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$67.33M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	110.92M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.34M	USD	Point-in-time
Goodwill	`Goodwill`	$80.22M	USD	Point-in-time
Goodwill	`Goodwill`	$118.55M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	110.92M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	113.30M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$27.52M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$25.07M	USD	Point-in-time
Total assets	`Assets`	$459.70M	USD	Point-in-time
Total assets	`Assets`	$597.88M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.28M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.86M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$31.59M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$50.57M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$38.81M	USD	Point-in-time
Accrued compensation and benefits	`EmployeeRelatedLiabilitiesCurrent`	$42.66M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$10.00M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$13.50M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$9.02M	USD	Point-in-time
Accrued warranty	`ProductWarrantyAccrualClassifiedCurrent`	$10.58M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$79.05M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$90.70M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$52.34M	USD	Point-in-time
Other accrued liabilities	`OtherLiabilitiesCurrent`	$37.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$263.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$213.21M	USD	Point-in-time
Deferred revenue, less current portion	`DeferredRevenueNoncurrent`	$25.29M	USD	Point-in-time
Deferred revenue, less current portion	`DeferredRevenueNoncurrent`	$28.50M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$149.73M	USD	Point-in-time
Long-term debt, less current portion	`LongTermDebtNoncurrent`	$80.42M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$7.20M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$6.58M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$13.23M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$8.53M	USD	Point-in-time
Commitments and contingencies (Note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 9)	`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; 113,304,977 shares issued and outstanding at September 30, 2017 and 110,924,508 shares issued and outstanding at June 30, 2017	`CommonStockValue`	$111.00K	USD	Point-in-time
Common stock, $.001 par value, 750,000,000 shares authorized; 113,304,977 shares issued and outstanding at September 30, 2017 and 110,924,508 shares issued and outstanding at June 30, 2017	`CommonStockValue`	$113.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$909.15M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapitalCommonStock`	$914.00M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-781.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-776.91M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$125.68M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$135.44M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$597.88M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$459.70M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Product	`SalesRevenueGoodsNet`	$164.77M	USD	1 Quarter
Product	`SalesRevenueGoodsNet`	$90.09M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$46.94M	USD	1 Quarter
Service	`SalesRevenueServicesNet`	$32.51M	USD	1 Quarter
Total net revenues	`SalesRevenueNet`	$122.60M	USD	1 Quarter
Total net revenues	`SalesRevenueNet`	$211.72M	USD	1 Quarter
Product	`CostOfGoodsSold`	$44.25M	USD	1 Quarter
Product	`CostOfGoodsSold`	$80.05M	USD	1 Quarter
Service	`CostOfServices`	$12.47M	USD	1 Quarter
Service	`CostOfServices`	$19.29M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$56.72M	USD	1 Quarter
Total cost of revenues	`CostOfGoodsAndServicesSold`	$99.33M	USD	1 Quarter
Product	`GrossProfitProduct`	$84.73M	USD	1 Quarter
Product	`GrossProfitProduct`	$45.84M	USD	1 Quarter
Service	`GrossProfitService`	$27.65M	USD	1 Quarter
Service	`GrossProfitService`	$20.04M	USD	1 Quarter
Total gross profit	`GrossProfit`	$112.38M	USD	1 Quarter
Total gross profit	`GrossProfit`	$65.89M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$34.28M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$18.30M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$36.86M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$55.56M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$12.19M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.29M	USD	1 Quarter
Acquisition and integration costs	`BusinessCombinationAcquisitionRelatedCosts`	$2.32M	USD	1 Quarter
Acquisition and integration costs	`BusinessCombinationAcquisitionRelatedCosts`	$4.24M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.61M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$4.14M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.91M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$107.89M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$4.49M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-4.02M	USD	1 Quarter
Interest income	`InterestIncomeOther`	$647.00K	USD	1 Quarter
Interest income	`InterestIncomeOther`	$57.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$647.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$2.21M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-223.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$3.13M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$6.05M	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.83M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.68M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$907.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.74M	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$0.04	USD	1 Quarter
Net income (loss) per share - basic	`EarningsPerShareBasic`	$-0.05	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$0.04	USD	1 Quarter
Net income (loss) per share - diluted	`EarningsPerShareDiluted`	$-0.05	USD	1 Quarter
Shares used in per share calculation - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	105.95M	shares	1 Quarter
Shares used in per share calculation - basic	`WeightedAverageNumberOfSharesOutstandingBasic`	112.24M	shares	1 Quarter
Shares used in per share calculation - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	105.95M	shares	1 Quarter
Shares used in per share calculation - diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	118.43M	shares	1 Quarter

Cash Flow Statement 55 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-5.74M	USD	1 Quarter
Depreciation	`Depreciation`	$3.12M	USD	1 Quarter
Depreciation	`Depreciation`	$2.44M	USD	1 Quarter
Amortization of intangible assets	`AdjustmentForAmortization`	$4.31M	USD	1 Quarter
Amortization of intangible assets	`AdjustmentForAmortization`	$7.64M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$223.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$489.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.48M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$4.80M	USD	1 Quarter
Realized gain on sale of non-marketable equity investment	`RealizedInvestmentGainsLosses`	$3.76M	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-1.42M	USD	1 Quarter
Other non-cash charges	`OtherNoncashIncomeExpense`	$-695.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-16.61M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$5.76M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-5.92M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$3.31M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.86M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.47M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.15M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$9.04M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-5.36M	USD	1 Quarter
Accrued compensation and benefits	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-7.32M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenueExcludingDistributorRevenue`	$4.65M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenueExcludingDistributorRevenue`	$-2.62M	USD	1 Quarter
Other current and long term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-819.00K	USD	1 Quarter
Other current and long term liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-2.79M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.60M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.57M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.64M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$7.42M	USD	1 Quarter
Acquisitions	`PaymentsToAcquireBusinessesGross`	$68.05M	USD	1 Quarter
Proceeds from sale of non-marketable equity investment	`ProceedsFromSaleOfAvailableForSaleSecuritiesEquity`	$4.92M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-70.55M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.64M	USD	1 Quarter
Borrowings under Term Loan	`ProceedsFromBankDebt`	$80.00M	USD	1 Quarter
Repayments of debt	`RepaymentsOfLongTermDebt`	$4.09M	USD	1 Quarter
Repayments of debt	`RepaymentsOfLongTermDebt`	$3.25M	USD	1 Quarter
Loan fees on borrowings	`PaymentsOfLoanCosts`	$1.49M	USD	1 Quarter
Proceeds from issuance of common stock, net of tax	`ProceedsFromIssuanceOfCommonStock`	$3.42M	USD	1 Quarter
Proceeds from issuance of common stock, net of tax	`ProceedsFromIssuanceOfCommonStock`	$42.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$166.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$74.45M	USD	1 Quarter
Foreign currency effect on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$38.00K	USD	1 Quarter
Foreign currency effect on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$57.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.14M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$22.56M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$102.27M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$94.12M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$153.01M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$130.45M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$102.27M	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`	$153.01M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$130.45M	USD	Point-in-time

Comprehensive Income 9 line items

Line Item	Tag	Value	Unit	Period
Net income (loss):	`NetIncomeLoss`	$4.38M	USD	1 Quarter
Net income (loss):	`NetIncomeLoss`	$-5.74M	USD	1 Quarter
Change in unrealized gains on available for sale securities, net of taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$183.00K	USD	1 Quarter
Net change in foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$355.00K	USD	1 Quarter
Net change in foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$126.00K	USD	1 Quarter
Other comprehensive income, net of tax:	`OtherComprehensiveIncomeLossNetOfTax`	$126.00K	USD	1 Quarter
Other comprehensive income, net of tax:	`OtherComprehensiveIncomeLossNetOfTax`	$538.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$4.91M	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-5.62M	USD	1 Quarter

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