Waiting for the Punchline is the fourth album by American band Extreme, released in 1995.

It is known by fans as a distinctively raw-sounding record with a significant influence from grunge, especially when compared to the big production of the two previous albums.

Due to its lyrics focused heavily on social matters (ranging from religion to fame) it is often cited as a concept album.

[3] It is also the only Extreme record to feature drummer Mike Mangini (on three tracks).

After the album's tour, Extreme disbanded in 1996 when Bettencourt informed the band that he was leaving to pursue a solo career.