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Casa Systems, Inc. (Nasdaq: CASA), headquartered in Andover, Massachusetts, is a prominent provider of fixed, mobile, optical, and Wi-Fi network solutions tailored for ultra-broadband services. With a focus on delivering high-speed connectivity, Casa Systems is dedicated to enabling 1Gbps throughput today and scaling towards 10Gbps within the next decade.
Founded in 2003, Casa Systems has pioneered software-centric ultra-broadband network edge devices, facilitating cable and mobile service providers in efficiently expanding their networks to meet modern gigabit demands. The company leverages disruptive technologies to tap into the burgeoning market of interactive digital video and broadband IP services. Notably, their product portfolio includes market-leading DOCSIS 3.1-enabled CCAP and CMTS products, universal EdgeQAM, intelligent video processing solutions for both broadcast and unicast services, as well as MobileEdge small cell and managed Wi-Fi solutions.
Casa Systems has demonstrated exceptional prowess through strategic partnerships, most notably with YTL Communications (YTLC) in Malaysia, powering their award-winning 4G and 5G services. Additionally, the company's collaboration with Verizon for 5G Core Network Functions underscores its significant role in advancing 5G technology in the United States.
In recent developments, Casa Systems reported promising financial results for the third quarter of 2023, with notable growth in their Cloud Software and Access Device businesses. Despite challenges in the cable sector, the company's cloud-native solutions continue to support Tier 1 and regional service providers globally.
In a groundbreaking achievement, Casa Systems' virtual CCAP (vCCAP) and RPD200 solution achieved full utilization of the extended spectrum as per the DOCSIS 4.0 specification. This innovation enables multi-gigabit broadband services, paving the way for the 10G era. Furthermore, the launch of the AurusXT 5G Industrial IoT Series marks Casa Systems' foray into the IIoT market, providing dynamic network slicing capabilities.
However, amidst these advancements, Casa Systems has initiated a court-supervised Chapter 11 process to facilitate value-maximizing sales of its businesses, including agreements to sell its 5G Mobile Core and RAN assets to Lumine Group and its cable business to Vecima Networks. This move aims to stabilize operations and support its customers through a challenging period.
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Casa Systems, Inc. (Nasdaq: CASA) has joined the Telecom Infra Project's (TIP) Open and Disaggregated Broadband Network Gateway initiative, collaborating with major operators like Telefónica and Vodafone. This initiative aims to tackle challenges faced in delivering fixed broadband services and addresses continuous traffic growth. Casa's participation is expected to enhance global interoperability of their solutions and create new revenue opportunities by expanding into new markets. This move is crucial for the evolution of broadband technologies to offer more choices for customers.
Casa Systems has announced the integration of its IoT devices with Software AG’s Cumulocity IoT Platform. This combination aims to simplify the management of industrial IoT environments, targeting sectors like smart transport, environmental monitoring, and automation. With this integration, service providers can create new revenue streams more efficiently. Cumulocity’s capabilities, including device management and predictive analytics, enhance the deployment of Casa's reliable devices, thus addressing the growing demand for secure remote monitoring solutions in the IoT market.
TIM, Ericsson, and Qualcomm have set a new world record for ultrabroadband speed, achieving 1 Gbps over a distance of 6.5 km using 5G technology and mmWave frequencies. This milestone confirms 5G's capability not only in urban areas but also in expanding broadband coverage in remote locations. The new solution, called Fiber To The Air, was made possible by the Ericsson AIR 5322 antenna and Casa Systems' AurusAI 5G device. Further testing will occur in Front, Turin, targeting areas lacking connectivity.
Casa Systems reported impressive third-quarter results for 2020, achieving $105.7 million in revenue and a 49.7% gross margin. The company recorded a net income of $3.5 million, translating to $0.04 per diluted share. Notably, Casa Systems has raised its full-year revenue guidance to $370-$380 million, anticipating strong demand driven by its wireless and fixed-telco products. The wireless backlog reached $115 million, bolstering visibility for future revenue.
Casa Systems (NASDAQ: CASA) will release its third quarter 2020 results on October 28, 2020, after the U.S. market closes. A conference call is scheduled for the same day at 5 p.m. ET to discuss the results. Investors can access a live audio webcast via the Company’s Investor Relations website, and an archived version will be available for 90 days post-event. Casa Systems specializes in cloud-native 5G infrastructure solutions and serves over 475 service providers globally.
Casa Systems (Nasdaq: CASA) announced the launch of innovative products at the virtual Cable-Tec Expo 2020, running from October 12-15. Key advancements include the High Availability vCCAP, which enhances user experience and reduces costs, and a Low Latency DOCSIS solution offering sub-5ms roundtrip latency to support new revenue opportunities. Additionally, a patent-pending technology for upstream bandwidth optimization was highlighted. CEO Jerry Guo emphasized that these innovations aim to improve network efficiency and enable new customer offerings, reinforcing Casa’s leadership in DOCSIS deployments.
Casa Systems (NASDAQ: CASA) has announced the launch of its new Distributed Access Architecture (DAA) Gen 2 nodes, the DA2200 and DA1250, as part of its efforts to enhance cable infrastructure. Mediacom Communications is the first to deploy the DA2200 in a field trial aimed at advancing gigabit connectivity during the 10G Smart Home event in Ames, Iowa. These nodes are designed for high-density environments, offering gigabit+ throughput and supporting advanced services. Casa’s solutions promise improved operational efficiency and scalability for cable operators worldwide.
Casa Systems, Inc. (Nasdaq: CASA) has launched the AurusAI, the first high-power 5G mmWave customer premise equipment (CPE), enhancing fixed wireless access capabilities. Designed for both urban and rural broadband delivery, AurusAI offers Gigabit speeds, a compact industrial design, and intelligent antennas for optimal performance. It's positioned to reduce costs and installation time while catering to service providers' needs. The global impact of 5G mmWave is projected to add $565 billion to GDP by 2034, underlining its market potential. Casa continues to lead in 5G solutions, serving over 475 service providers worldwide.
Casa Systems has partnered with Qualcomm Technologies and Ericsson to achieve a groundbreaking milestone in 5G technology. On June 20, 2020, they successfully completed the world's first extended-range 5G NR data call over mmWave, reaching a distance of 3.8 kilometers in Regional Victoria, Australia. This achievement highlights the potential of mmWave technology for fixed wireless access, paving the way for improved broadband services in urban, suburban, and rural areas. The collaboration aims to empower service providers to offer multi-gigabit broadband, enhancing connectivity across diverse communities.
Casa Systems (Nasdaq: CASA) announced Scott Bruckner as Chief Financial Officer, effective immediately. Bruckner's previous role as SVP Strategy & Corporate Development and interim CFO showcased his leadership and business acumen. The company also appointed Ernst & Young LLP as its new independent registered public accounting firm, replacing Pricewaterhouse Coopers. This change, approved by the Audit Committee, was not due to disagreements over accounting practices. Casa expressed gratitude to PwC for their past services.
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