Wireless and cloud gains mitigate log backlog in Extreme Networks

Wireless and cloud gains mitigate log backlog in Extreme Networks

Ed Maycord (Extreme Networks)

Credit: Extreme Networks

Despite problems sourcing parts and a massive backlog of orders, Extreme Networks hit a record high in the first quarter of fiscal year 23 with nearly $300 million, up 11 percent year over year, and seven percent quarter over quarter.

The CEO backlog Ed Meyercord referred to during the seller’s quarterly earnings call this week is $550 million, also a record.

To put it in perspective, that’s roughly three Full of Quarters From Producer he won in Backlog, mostly due to problems in the supply chain. Concerns about the economy are also in the mix, but Maycord said that when it comes to investing in networks, things are looking bright.

“The combination of our continued revenue growth and record accumulation gives us greater confidence in our long-term growth outlook,” he said. His optimism stems from what he said is a belief among organizations that networks are a strategic asset and that Extreme strives to facilitate the deployment and management of such networks.

“We do not see communication initiatives as unprioritized,” he said. “If enterprise customers have to cut back on spending, we don’t see them lose the priority of networks.”

Wireless is powerful

One area that has seen significant revenue growth but also “significant” backlog is wireless networking, where Extreme is pushing Wi-Fi 6E hard technology.

“If you think you know how we live and how we work and how we shop and you think about the environments and the amount of the wireless versus wired environment, you know it’s growing, and I think there’s a shorter wireless life cycle than traditional wired switches as well,” Maycord said.

“As a result, there are more upgrades, and I think there’s more volume and circulation in the wireless space.”

This includes cellular wireless technology, including 5G for environments where Wi-Fi is not the best option. “[A]You look at things like smart cities, longer range, lower latency, private cellular networks, support for driverless cars — those kinds of things — not a traditional Wi-Fi solution, Maiercord said. “So I guess you’ll see the emergence of some of these other technologies…”

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