Company cites a large increase in its wireless product backlog.

July 30, 2020

1 Min Read

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.

Casa Systems

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