And service provider has been strong. The whole exercise took less than an hour. I hope that's helpful. Thank you. Right. But it makes sense for what we're talking about around the edge. Yes. Ryan Meyers -- Lake Street Capital -- Analyst. And then our teams have been really productive working from home, and we moved ahead of schedule. And if I can just follow up, you mentioned you've kind of taken cost actions to lower the breakeven to $220 million. Now more than ever before, our brand promise of effortless networking is resonating with customers. All right. Okay. So we've reorganized the field. In our case, when we look at our business and when we look at our funnel, our funnel looks good. SAN JOSE, Calif., Oct. 8, 2020 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR), a cloud-driven networking company, today announced a business update on the financial results for its first quarter ended September 30, 2020, and a partial repayment of its … Grocery and retail stores will add more in-store pickup capabilities. Welcome to the Extreme Networks first quarter fiscal 2020 earnings conference call. Manufacturing was 9% to 11%. But under the amendment of our term loan A, we are at LIBOR plus 450. Free cash flow was $2 million, down from $17.9 million in Q2 and $12.7 million in the year ago quarter. I mean, it's calendar Q4, it's our fiscal Q2. Any sense of how you want us to think about that relative to -- obviously, a more constructive tone than what I think some people were expecting coming into the print. Remi, do you want to comment? Yes. And the response is different depending on the vertical. The strong quarter-over-quarter recovery in our bottom line was a result of higher revenue and a material reduction in our costs and expenses. So we're moving very quickly, very rapidly in cloudifying our portfolio. But nothing unusual from a pricing perspective. I also want to thank our employees for their dedication and continued focus while working from home. Others are still slowly coming out of COVID. But having the flexibility and the versatility of this platform, we think that this is going to drive adoption. I mean, your WiFi can trace how far people are, how many people are on the floor. The reality is it turned out to be a nonissue. So you've got edge all the way to the core where you have that management capability. It is on Wed 28 Oct (33 days ago). So some of the cost benefits that we're getting on a temporary basis won't happen again in Q1. And then, what happened this year, which is different from years past, is that the government, the USAC started sending out funding letters earlier than usual. Welcome to the Extreme Networks first fiscal quarter 2021 earnings conference call. And our teams are projecting -- I mentioned 30% growth, even higher growth rates with our combined cloud offerings. Could you expand upon that a bit because that doesn't make sense to me given that you have a smaller footprint? I know that's how we're thinking about going back to work in a more flexible way, but you'll still require networking in your environment. So we have to build in that conservatism into our outlook. And we're seeing the manufacturing spend continue and strengthen as we look at the opportunities that we have in the funnel. Our marketing and marketing qualified leads are off the charts. Our new normal work and school environment will be a distributed enterprise with requirements for secure tunneling, remote kits for home and ad hoc work locations, automated provisioning, fabric attached capabilities for extending networks and effortless management. Our next question comes from the line of Erik Suppiger from JMP Securities. And also, when you think about cloud, there are opportunities for customers to demo and to try and experiment with our cloud by literally just receiving an access point, configuring that in the cloud and then building from there. Finally, we're now participating in both the Japanese and German versions of E-Rate type program for schools and are making good progress. Where are they on campus? Yes. But as you would predict, we are seeing opportunities that are more distributed in nature. No. I got in for a second one. [Operator instructions] I would now like to hand the conference to our speaker today, Stan Kovler, vice president of corporate strategy and investor relations. Thanks, Ed. However, in Q1 of fiscal 2021, we get the full benefit of our cost reduction actions. Schools are adding APs to their parking lots. Thank you. Nearly 17,000 healthcare administrators across 30 locations will deliver telehealth services and collect data from remote medical devices from ExtremeCloud IQ. Understood. A large medical center is unveiling a state-of-the-art 1.5 million square foot 17-story hospital with 500 private patient rooms and 47 operating suites. I'll take this one. On August 10, we will launch Extreme Empower. Great. It's a pretty simple and basic solution that fits into our work from Home Solutions currently. Do you think it's reasonable to think that you are in the middle of that range? This is the power of ExtremeCloud IQ. So the pace of growth in subscription bookings will remain very strong. I am confident that Extreme will weather this challenge and emerge from this as a stronger and more cohesive company. Extreme Networks, Inc. Non-GAAP Measures of Financial Performance. Welcome to the Extreme Networks Fourth Quarter Fiscal 2019 Earnings Conference Call. And I will split it 50-50 between the two. And your next question comes from the line of Eric Martinuzzi with Lake Street. What are you seeing on the competitive front because you haven't mentioned anything on that front so far? The sequential increase was attributable to high volume, the non-recurrence of the onetime inventory writedown booked in Q3, as well as a reduction in the variable and fixed cost embedded in our cost of goods sold line. So from our standpoint, we see -- we continue to see a healthy funnel of opportunities in campus. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. There were outreach initiatives to customers to ensure that customers can have networking priorities that they get in front of the line and that they accelerate, maybe, their buying process in the early part of the quarter. Your network doesn’t have to be. Okay. If you go into our cloud, we have machine learning insights. It's our fiscal year. Yeah. What I would highlight, Ed, is that we're seeing increased freight cost because there is obviously less capacity. The likes of our customers like FedEx, they are doing very well. Welcome to the Extreme Networks earnings conference -- second quarter fiscal 2020 earnings conference call. We are living in unprecedented times, and I want to thank our customers and partners for their resilience and support. First of all, we typically don't disclose revenue on a monthly basis. No. The purchase price was a bit frothy. Remi, I'll jump in, and then you can add. So it's putting more emphasis on external connections, securing applications out to the edge and distributed networks and then still being able to provide security and the quality of service out on the edge. We expect Q1 revenue to be in the range of $220 million to $230 million, which represents 4% sequential growth at the midpoint. On a personal note, I also implemented Extreme Cloud a few months ago, and I admit, I'm not that technical. So you don't need an IT person in a retail store, for example, to replace access point number 39 with a new access point, ship the old one back to get repaired. Germany is getting back to work and is aided by strong stimulus package and easing of procurement requirements of public sector. And we are committed to bringing effortless to the channel as well. Sports is cyclical and will come back as it is highly experiential. In response to our customer needs, we've rolled out a rapid outdoor connectivity kit to help hospitals and other organizations swiftly extend secure wireless connectivity to pop-up sites in support of quarantine, testing and patient care. So now you have what we would call excess edge switching that can be managed from the cloud. We have time for one more question. Our customers are experiencing a shift in use cases. So we're encouraged because as far as China and Taiwan, we are at back to 100%, and that's a huge part of our supply chain. So anything that really is related to government funding might be a little easier as we approach Q4 and Q1 of next year. I can jump in first, Remi, and then you can provide comments afterwards. So you can go back and you can look, as soon as you get on our cloud, you have the entire network captured, everything that happened in that network captured. And with me today are Extreme Networks' president and CEO, Ed Meyercord; and CFO, Remi Thomas. Thank you for taking my question. But is that to say that if the trends sustain here in Q4 that we would be up sequentially on the revenue versus Q3? So it's calendar fiscal '20, and it's Q2. The increase in our marketing productivity during COVID is only giving us confidence in our ability to grow and take share. Your line is now open. 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2020 extreme networks earnings call