Casa Systems Reports Third Quarter 2019 Financial Results
Casa Systems, Inc. (CASA)
Last casa systems, inc. earnings: 4/30 04:05 pm
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US:NASDAQ Investor Relations:
investors.casa-systems.com/investor-relations
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Source: GlobeNewswire
ANDOVER, Mass., Oct. 31, 2019 (GLOBE NEWSWIRE) -- Casa Systems, Inc. (Nasdaq:CASA), a leading provider of converged broadband infrastructure technology and access device solutions for mobile, cable and fixed networks, today announced its financial results for its third quarter ended September 30, 2019. Third Quarter 2019 Financial Highlights Revenue of $81.8 millionGross margin of 47.9%GAAP net loss of $8.5 millionNon-GAAP net loss of $2.9 millionGAAP net loss per fully diluted share of $0.10Non-GAAP net loss per fully diluted share of $0.03Adjusted EBITDA of $4.0 million “While our access device business was line with our expectations for the third quarter, revenue from our cable products, as well as revenue recognition from our wireless backlog, were lighter than anticipated,” said Jerry Guo, Casa’s President and CEO. “During the quarter, while we saw increased appetite for spending from our cable customers, timing for closing certain larger orders was more protracted than what
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