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.
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.