Casa Systems, Inc. - CASA STOCK NEWS

Casa Systems has announced the resignation of CFO Scott Bruckner effective April 3, 2022, due to family issues. His departure is not linked to any disagreements regarding the company's financial practices. Casa Systems reaffirms its fiscal year 2021 guidance and will release its fourth-quarter earnings on February 24, 2022, after market close. A conference call will follow at 5 p.m. EST to discuss the results. The company continues to serve over 475 service providers globally, delivering innovative solutions for 5G technology.

Casa Systems, Inc. (Nasdaq: CASA) hosted its 2021 Virtual Investor Day on November 19, 2021, showcasing its transition from hardware to software and cloud technologies. The company aims for at least 50% of its revenue to come from software and cloud products by fiscal 2025, with expected improvements in gross margin and profit. Executives discussed deploying disruptive cloud solutions, emphasizing growth potential in 5G and rural networks. Casa Systems remains committed to profitability and operational efficiency while positioning itself as an industry leader in network transformation.

Casa Systems has launched its new Flexible MAC Architecture (FMA) solution, which is currently undergoing customer trials with tier one operators across multiple countries. This cloud-native technology separates control and data functions, enhancing network capacity and enabling improved service delivery. With growing bandwidth demands, Casa Systems aims to provide operators with agile and scalable solutions. The FMA solution is positioned as a strategic evolution towards DOCSIS 4.0, facilitating seamless integration with existing infrastructure.

Casa Systems will host a virtual Investor Day on November 19, 2021, from 9:00 a.m. to 12:00 p.m. EST. Key executives, including CEO Jerry Guo and CFO Scott Bruckner, will present on the company's business strategy, financial performance, and growth prospects. Attendees can register for the webcast on the Casa Systems Investor Relations website, where materials will be available prior to the event. A replay will be accessible for 90 days post-event. Casa Systems specializes in infrastructure technology solutions for broadband networks, serving over 475 service providers across 70 countries.

Casa Systems reported third-quarter 2021 revenue of $99.2 million, with a gross margin of 40.9%. The company experienced a GAAP net loss of $(0.9) million and a non-GAAP net loss of $(4.1) million. Notably, wireless revenue grew 51% year-over-year, despite facing challenges from supply chain constraints. The company revised its 2021 revenue guidance to $394 million - $404 million due to ongoing uncertainty. Casa expects to benefit from a strong order backlog and initiatives such as RDOF and 5G rollout.

Casa Systems, Inc. (Nasdaq: CASA) will announce its third-quarter 2021 results on November 2, 2021, after U.S. market close. Following the release, a conference call will be held at 5 p.m. EDT to discuss the results. Investors can listen via a live audio webcast on the Company’s Investor Relations website. Casa Systems is a leader in physical and cloud-native infrastructure technology for broadband networks, serving over 475 major service providers across more than 70 countries.

Casa Systems (Nasdaq: CASA) announces a partnership with Mediacom Communications to deploy its evolved packet core and fixed wireless access solutions, enhancing broadband access to underserved areas. This innovative solution utilizes Citizens Broadband Radio Spectrum to bridge the digital divide, supporting high-speed service rollout. With a commitment to affordable connectivity, Casa Systems aims to provide significant improvements in network efficiency and speed, unlocking new revenue opportunities for service providers as broadband initiatives gain momentum in the U.S.

Casa Systems, Inc. (Nasdaq: CASA) has entered an exclusive agreement with Bell Canada to provide new 5G Sub-6 High-Gain Outdoor consumer premise equipment (CPE) for Bell's Wireless Home Internet service.

This partnership aims to enhance broadband access in rural communities, positioning Bell’s rollout as North America’s largest 5G Sub-6 fixed wireless deployment. The new CPE integrates upgraded technology to ensure optimal performance and reduce installation costs. With over a decade of collaboration with Bell, Casa Systems continues to innovate in fixed wireless access technologies.

Casa Systems reported a successful second quarter for 2021, with revenue of $92.7 million reflecting a double-digit growth fueled by strong wireless demand. EBITDA surged by 25% year-over-year, reaching $11.7 million. However, the company faces potential challenges in the second half due to worsening supply chain issues. Casa reaffirmed its 2021 revenue guidance, projecting between $425 million and $445 million. The company ended the quarter with a strong backlog, though a GAAP net loss of $(3.2) million was reported.