Extreme Networks Provides Update on Customer and Product Activity in Response to COVID-19

Company Offers Remote Networking and Distance Learning Solutions, Pop-Up Healthcare Triage Networks, Virtual Training, Flexible Financing, and More To Help Customers During Challenging Time

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Extreme Networks, Inc.

Mar 19, 2020, 07:00 ET

SAN JOSE, Calif., March 19, 2020 /PRNewswire/ -- Around the world, we are adjusting to a new reality in every part of our lives as a result of the COVID-19 pandemic. Extreme Networks, Inc. (Nasdaq: EXTR) extends its sympathy to all that are impacted. We also offer our gratitude to those workers and organizations that are on the front lines battling this unprecedented event.

As governments step up social distancing policies to help stem the spread of Coronavirus, it has become abundantly clear that we must rely on our wired and wireless networks to keep us connected and informed. For our global customer base, networking infrastructure has never been more critical to sustaining and driving business. To help them, we have developed innovative and consumable solutions, such as the Portable Branch Kit to quickly and securely provide connectivity to temporary remote office locations. We are also supporting our customers as employees work from home and as schools extend learning initiatives online, as these practices rapidly become our new normal.

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To facilitate virus testing and prevent healthcare facilities from getting overrun with voice, video and data demands, Extreme is offering a quick-response, cloud-managed Wi-Fi 6 mesh network solution. The system operates as a secure, encrypted extension to the existing hospital infrastructure that maintains HIPAA compliance. It can scale to support multiple pop-up clinics, testing facilities or quarantine sites.

For customers and partners looking to stay the course with career development, we are offering free cloud technical certification training through July 20th that can be completed from anywhere in the world via an internet connection. The course covers WLAN fundamentals, ExtremeCloud IQ, our fourth-generation cloud management platform and ExtremeWireless technologies.

We are also offering customers the ability to get the network solutions they need today while preserving working capital by allowing them to defer payment until July 1 with Extreme Capital Solutions. They can improve cash flow management and spread costs out over time by paying monthly or annually after the deferred term.

Our support and professional services teams continue to be on site – sustaining customers in their mission critical environments – to help them roll-out improved connectivity to support increased traffic growth and new and evolving demands. Customers continue to rely on our #1 rated service in the industry. Our sales and field engineers continue to collaborate with our teams to ensure projects happen as planned. We also continue to provide valuable services, software updates and support, which during the December quarter accounted for nearly 30% of our revenue and is recurring in nature.

We are making great progress in ramping up our ability to deliver products to customers and eliminate supply chain constraints following disruptions in China in recent months. We anticipate our manufacturing supply chain to ramp up to 70% capacity, up from 40% last month, and we expect to be at 100% capacity by May. We believe our subcomponent suppliers are ramping up capacity as well, right behind our manufacturers. We are mitigating risks, regularly communicating with customers, pulling in materials and working to ensure we can support our business.

Extreme stands ready to assist in any way we can so our customers can continue to thrive and advance in the months and years to come.

About Extreme Networks:

Extreme Networks, Inc. (EXTR) creates effortless networking experiences that enable all of us to advance. We push the boundaries of technology leveraging the powers of machine learning, artificial intelligence, analytics, and automation. Over 50,000 customers globally trust our end-to-end, cloud-driven networking solutions and rely on our top-rated services and support to accelerate their digital transformation efforts and deliver progress like never before. For more information, visit Extreme's website or follow us on Twitter, LinkedIn, and Facebook.

Forward-Looking Statements
Statements in this press release, including statements regarding the company's supply chain and the potential impact of COVID-19 disruptions to the supply chain, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements speak only as of the date of this release. There are several important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, further supply chain-related or other impacts of COVID-19, the market price of the company's stock prevailing from time to time, the nature of other investment opportunities presented to the company from time to time, the company's cash flows from operations, general economic conditions, and other factors discussed under Item 1A. "Risk Factors," in the company's Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other reports filed with the SEC. The company undertakes no obligation to update any forward-looking statements, whether as a result of new information, the occurrence of certain events or otherwise. As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and the company's financial condition and results of operations could be materially adversely affected.

SOURCE Extreme Networks, Inc.