Extreme Networks reported a challenging Q4 2024 with a revenue decline versus the prior year and a net loss, but continued to show profitability resilience in gross margin and positive free cash flow. Key figures show: revenue of $256.653 million, down 29.5% year-over-year, but up 21.6% quarter-over-quarter to the strongest sequential level in the quarter; gross profit of $114.114 million yielding a gross margin of 44.46%. The company posted an operating loss of $38.939 million and a net loss of $54.203 million, reflecting a continued stretch of elevated operating expenses (R&D and SG&A) and one-off items baked into the current period. EBITDA declined to negative $34.472 million (EBITDA margin of -13.43%), while net income per share was negative $0.42. Importantly, Extreme generated $15.489 million in operating cash flow and $11.0 million of free cash flow, ending the period with $156.699 million in cash and cash equivalents. Total debt stood at $239.604 million with net debt of $82.905 million; liquidity remained tight with a current ratio of 0.902 and a cash ratio of 0.303. While the gross margin remains robust for a hardware/software hybrid model, the earnings quality remains pressured by ongoing operating losses and levered balance sheet dynamics. Sequential improvements in revenue suggest demand stabilization at the margin, but material progress toward sustained profitability will hinge on further top-line growth in cloud-enabled offerings and meaningful cost discipline. Management commentary in the provided data set is not included, limiting the ability to quote direct strategic intent or forward targets.