Start Time: 08:00 January 1, 0000 8:58 AM ET

Extreme Networks, Inc. (NASDAQ:EXTR)

Q4 2022 Earnings Conference Call

July 27, 2022, 08:00 AM ET

Company Participants

Ed Meyercord - President and CEO

Rémi Thomas - CFO

Stan Kovler - VP of Strategy and IR

Conference Call Participants

Alex Henderson - Needham & Company

Mike Genovese - Rosenblatt Securities

Eric Martinuzzi - Lake Street Capital Markets

Dave Kang - B. Riley

Operator

Good day and thank you for standing by. Welcome to the Extreme Networks Fourth Quarter Fiscal Year 2022 Financial Results. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today's conference is being recorded.

I would now like to hand the conference over to Stan Kovler, Vice President of Investor Relations and Corporate Strategy. Please go ahead.

Stan Kovler

Thank you, Katherine, and welcome to the Extreme Networks fourth fiscal quarter and year-end 2022 earnings conference call. I'm Stan Kovler, Vice President of Corporate Strategy and Investor Relations. With me today are Extreme Networks President and CEO, Ed Meyercord; and CFO Rémi Thomas. We just distributed a press release and filed an 8-K detailing Extreme Networks financial results for the quarter. For your convenience, a copy of the press release, which includes our GAAP to non-GAAP reconciliations, is available in the Investor Relations section of our Web site at extremenetworks.com.

I would like to remind you that during today's call, our discussion may include forward-looking statements about Extreme's future business, financial and operational results, growth expectations and strategies. We caution you not to put undue reliance on these forward-looking statements as they involve risks and uncertainties that can cause actual results to differ materially from those anticipated by these statements as described in our risk factors in our 10-K report for the period ended June 30, 2021 filed with the SEC. Any forward-looking statements made on this call reflect our analysis as of today. We have no plans or duty to update them, except as required by law.

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

Ed Meyercord

Thank you, Stan, and thank you all for joining us this morning. We had a strong quarter and year, and I'm pleased with the progress our teams are making. Our results for fiscal '22 highlight unprecedented demand for Extreme solutions and a very vibrant and healthy market for networking. We reported record bookings growth of 24%. This is a clear indication that we're taking share and winning in the market. And our forward-looking funnel for fiscal '23 is up double digits year-over-year. This is a leading indicator of future bookings growth.