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Casa Q2 Revenues Drop to $52.1M

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7/31/2019

ANDOVER, Mass. -- Casa Systems, Inc. (Nasdaq:CASA), a leading provider of converged broadband infrastructure technology solutions for mobile, cable and fixed networks, today announced its financial results for its second quarter ended June 30, 2019.

Second Quarter 2019 Financial Highlights

  • Revenue of $52.1 million
  • Gross margin of 75.4%
  • GAAP net income of $1.3 million
  • Non-GAAP net income of $6.1 million
  • GAAP net income per fully diluted share of $0.01
  • Non-GAAP net income per fully diluted share of $0.07
  • Adjusted EBITDA of $9.5 million

“I am pleased to report that our second quarter results were in-line with our expectations and represented a significant increase over our results for the first quarter of this year,” said Jerry Guo, Casa’s President and CEO. “During the quarter, we saw increased spending in our cable business and began to recognize some of the revenue in our wireless backlog. Additionally, we completed our acquisition of NetComm on July 1, 2019, which enhances our business not only in the form of expanded customers and products, but also in strong RF engineering capabilities. I remain quite optimistic about the second half of the year, during which we expect to see continued purchases of software- and hardware-based capacity in our cable business, some DAA and virtual CCAP rollouts, and revenue from our increasing wireless backlog.”

Casa Systems

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