Casa Systems revenues top $83M in Q2
Company cites a large increase in its wireless product backlog.
July 30, 2020
ANDOVER, Mass. – Casa Systems, Inc. (Nasdaq: CASA), a leading provider of physical and cloud-native infrastructure technology solutions for mobile, cable and fixed networks, today announced its financial results for its second quarter ended June 30, 2020.
Second Quarter 2020 Financial & Operational Highlights
Revenue of $83.4 million.
Gross margin of 51.7% driven by strong demand for hardware.
GAAP net loss of $(3.0) million or $(0.04) per fully diluted share.
Non-GAAP net income of $0.7 million or $0.01 per fully diluted share.
Adjusted EBITDA of $9.4 million.
Financial Outlook
For the fiscal year 2020 we continue to expect:
Revenue between $340 million and $360 million
Gross Margin in a range of 50% and 60%
GAAP net loss between $4 million and $14 million
Adjusted EBITDA between $33 million and $43 million
GAAP diluted net loss per share between $(0.04) and $(0.16) and Non-GAAP diluted net income per share between $0.00 and $0.12
Read the full announcement here.
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