Extreme Networks, Inc. (EXTR) Cash Flow Statement
Where EXTR’s cash came from and went, FY2026
June 30, 2026 · U.S. dollars- Cash from operations
- $123.2M −19.0% vs FY2025
- Capital expenditures
- $27.9M 2.2% of revenue
- Free cash flow
- $95.2M 7.4% margin
- Returned to shareholders
- $87.0M 91% of free cash flow
- Change in cash
- −$20.0M cash at year-end $211.8M
Drawn to scale: where the cash came from and how it was used. Hover for values.
EXTR operating cash flow, capex and free cash flow
EXTR cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $59.3MFY2017 | $123.2MFY2026 | +8.5%/yr | |
| Capital expenditures | $10.4MFY2017 | $27.9MFY2026 | +11.6%/yr | |
| Free cash flow | $48.9MFY2017 | $95.2MFY2026 | +7.7%/yr | |
| Free cash flow margin | 8.0%FY2017 | 7.4%FY2026 | −0.6 pts | |
| Operating cash flow / net income | 74.66FY2021 | 2.92FY2026 | −71.73 | |
| Stock-based compensation | $12.6MFY2017 | $88.3MFY2026 | +24.1%/yr | |
| Dividends paid | $0FY2017 | $30.1MFY2023 | — | |
| Share buybacks (net) | $0FY2017 | $87.0MFY2026 | — | |
| Capex / revenue | 1.7%FY2017 | 2.2%FY2026 | +0.5 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
EXTR cash flow by activity
EXTR net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
EXTR cash flow statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $42.1M | −$7.5M | −$86.0M | $78.1M | $44.3M | $1.9M | −$126.8M | −$25.9M | −$46.8M | −$8.5M |
| Depreciation & amortization | $19.2M | $19.2M | $29.4M | $34.9M | $40.2M | $55.3M | $63.8M | $52.9M | $49.1M | $26.3M |
| Stock-based compensation | $88.3M | $82.3M | $76.8M | $63.5M | $43.4M | $39.1M | $37.8M | $32.9M | $27.6M | $12.6M |
| Change in working capital | −$48.5M | $41.4M | −$46.1M | $66.6M | −$20.1M | $20.9M | $30.1M | $45.8M | −$6.0M | $24.1M |
| Other non-cash items | $22.1M | $16.6M | $81.4M | $6.2M | $20.5M | $27.4M | $30.9M | −$775,000 | −$4.9M | $4.7M |
| Cash from operating activities | $123.2M | $152.0M | $55.5M | $249.2M | $128.2M | $144.5M | $35.9M | $104.9M | $19.0M | $59.3M |
| Investing activities | ||||||||||
| Capital expenditures | −$27.9M | −$24.7M | −$18.1M | −$13.8M | −$15.4M | −$17.2M | −$15.3M | −$22.7M | −$40.4M | −$10.4M |
| Investments (net) | — | −$24.7M | −$18.1M | −$13.8M | −$85.0M | −$17.2M | $45.2M | $921,000 | −$132.5M | −$71.8M |
| Acquisitions & other investing | $0 | $24.7M | $18.1M | $13.8M | $15.4M | $17.2M | −$219.5M | $0 | $40.4M | $10.4M |
| Cash from investing activities | −$27.9M | −$24.7M | −$18.1M | −$13.8M | −$85.0M | −$17.2M | −$189.5M | −$21.8M | −$132.5M | −$71.8M |
| Financing activities | ||||||||||
| Dividends paid | — | — | — | −$30.1M | — | — | −$254.5M | — | $0 | $0 |
| Share repurchases & issuance (net) | −$87.0M | −$38.0M | −$49.9M | −$99.9M | −$45.0M | $4.5M | −$30.0M | −$15.0M | $3.3M | $11.8M |
| Net borrowing (repayment) | −$15.0M | −$10.0M | −$35.0M | −$86.8M | −$38.1M | −$74.0M | $220.0M | −$20.4M | $106.3M | $38.2M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $4.5M | $8.8M | $11.5M | $0 | $0 |
| Other financing | −$12.5M | −$4.6M | −$30.1M | $22.0M | −$11.6M | −$9.8M | $234.2M | −$10.5M | −$4.9M | −$1.3M |
| Cash from financing activities | −$114.5M | −$52.6M | −$115.0M | −$194.8M | −$94.7M | −$74.8M | $178.5M | −$34.4M | $104.7M | $48.7M |
| Summary | ||||||||||
| Net change in cash | −$20.0M | $75.0M | −$78.1M | $40.3M | −$52.4M | $53.0M | $24.3M | $48.5M | −$9.3M | $36.3M |
| Cash at end of period | $211.8M | $231.7M | $156.7M | $234.8M | $194.5M | $246.9M | $193.9M | $169.6M | $121.1M | $130.4M |
| Free cash flow | $95.2M | $127.3M | $37.4M | $235.4M | $112.7M | $127.4M | $20.6M | $82.2M | −$21.4M | $48.9M |
| Free cash flow margin | 7.4% | 11.2% | 3.3% | 17.9% | 10.1% | 12.6% | 2.2% | 8.3% | −2.2% | 8.0% |
| Capex / revenue | 2.2% | 2.2% | 1.6% | 1.1% | 1.4% | 1.7% | 1.6% | 2.3% | 4.1% | 1.7% |
| Operating cash flow / net income | 2.92 | — | — | 3.19 | 2.90 | 74.66 | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $18.0M | $10.6M | $7.9M | $5.6M | −$7.8M | $3.5M | $7.4M | −$10.5M | −$54.2M | −$64.4M | $4.0M | $28.7M |
| Depreciation & amortization | $5.0M | $4.6M | $4.8M | $4.9M | $4.6M | $4.6M | $5.0M | $5.1M | $11.4M | $5.5M | $5.7M | $6.8M |
| Stock-based compensation | $21.8M | $21.8M | $22.9M | $21.8M | $20.7M | $20.4M | $21.5M | $19.8M | $18.1M | $17.8M | $21.0M | $19.9M |
| Change in working capital | $16.0M | −$31.6M | $8.0M | −$49.4M | $57.6M | −$10.3M | −$12.8M | $1.3M | −$33.2M | −$41.3M | $47,000 | $17.2M |
| Other non-cash items | $12.0M | $8.9M | $6.6M | $3.1M | $6.8M | $11.9M | $550,000 | $2.9M | $73.4M | $12.5M | $3.5M | $3.1M |
| Cash from operating activities | $72.8M | $14.2M | $50.1M | −$14.0M | $81.9M | $30.0M | $21.5M | $18.6M | $15.5M | −$69.9M | $34.2M | $75.6M |
| Investing activities | ||||||||||||
| Capital expenditures | −$41.9M | −$6.4M | −$7.1M | −$6.9M | −$6.6M | −$5.7M | −$5.4M | −$6.9M | −$4.5M | −$3.7M | −$5.6M | −$4.3M |
| Investments (net) | — | — | — | −$6.9M | −$6.6M | −$5.7M | −$5.4M | −$6.9M | −$4.5M | −$3.7M | −$5.6M | −$4.3M |
| Acquisitions & other investing | $34.3M | $0 | $0 | $6.9M | $6.6M | $5.7M | $5.4M | $6.9M | $4.5M | $3.7M | $5.6M | $4.3M |
| Cash from investing activities | −$7.6M | −$6.4M | −$7.1M | −$6.9M | −$6.6M | −$5.7M | −$5.4M | −$6.9M | −$4.5M | −$3.7M | −$5.6M | −$4.3M |
| Financing activities | ||||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | — | — | — | −$29.1M |
| Share repurchases & issuance (net) | −$25.0M | −$50.0M | $0 | −$12.0M | −$25.0M | −$13.0M | −$2.4M | −$5.9M | −$2.6M | $5.8M | −$25.0M | −$24.9M |
| Net borrowing (repayment) | −$33.8M | $26.2M | −$28.8M | $21.2M | −$2.5M | −$2.5M | −$2.5M | −$2.5M | — | — | — | −$27.5M |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | −$4.9M | $6.9M | −$3.5M | −$11.0M | −$2.0M | $6.4M | $0 | −$695,000 | −$2.5M | −$2.5M | −$6.8M | $0 |
| Cash from financing activities | −$63.7M | −$16.8M | −$32.3M | −$1.7M | −$29.5M | −$9.1M | −$4.9M | −$9.1M | −$5.1M | $3.3M | −$31.8M | −$81.5M |
| Summary | ||||||||||||
| Net change in cash | $1.6M | −$9.7M | $10.8M | −$22.7M | $46.3M | $15.2M | $10.8M | $2.8M | $5.7M | −$70.4M | −$3.0M | −$10.4M |
| Cash at end of period | $211.8M | $210.1M | $219.8M | $209.0M | $231.7M | $185.5M | $170.3M | $159.5M | $156.7M | $151.0M | $221.4M | $224.4M |
| Free cash flow | $31.0M | $7.8M | $43.1M | −$20.9M | $75.3M | $24.2M | $16.1M | $11.7M | $11.0M | −$73.5M | $28.6M | $71.3M |
| Free cash flow margin | 9.2% | 2.4% | 13.5% | −6.7% | 24.5% | 8.5% | 5.8% | 4.3% | 4.3% | −34.8% | 9.6% | 20.2% |
| Capex / revenue | 12.4% | 2.0% | 2.2% | 2.2% | 2.2% | 2.0% | 1.9% | 2.6% | 1.7% | 1.7% | 1.9% | 1.2% |
| Operating cash flow / net income | 4.04 | 1.34 | 6.37 | −2.49 | — | 8.67 | 2.92 | — | — | — | 8.58 | 2.64 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
EXTR cash generation
In fiscal 2026 (ended June 30, 2026), Extreme Networks generated $123.2 million of cash from operations (down 19.0%) and spent $27.9 million on capital expenditures, leaving free cash flow of $95.2 million, 7.4% of revenue. It returned $87.0 million to shareholders through dividends ($0) and net share buybacks ($87.0 million). Cash and equivalents fell by $20.0 million over the year.
Related: EXTR income statement, EXTR balance sheet. See the EXTR stock overview for the latest quote and news.
EXTR cash flow FAQ
What is Extreme Networks's free cash flow?
Extreme Networks's free cash flow was $95.2 million in fiscal 2026: $123.2 million of operating cash flow minus $27.9 million of capital expenditures It was $127.3 million a year earlier..
How much cash does Extreme Networks generate from operations?
Extreme Networks generated $123.2 million of cash from operating activities in fiscal 2026, 2.92 times its net income of $42.1 million.
How much does Extreme Networks spend on capital expenditures?
Extreme Networks spent $27.9 million on capital expenditures in fiscal 2026, 2.2% of revenue, compared with $24.7 million the year before.
How much stock does Extreme Networks buy back?
Extreme Networks spent $87.0 million on net share repurchases in fiscal 2026.