- The stock price of Casa Systems Inc (NASDAQ: CASA) is trading at over 30% pre-market today. This is why it happened.
The stock price of Casa Systems Inc (NASDAQ: CASA) — a leading provider of physical and cloud-native infrastructure technology solutions for mobile, cable and fixed networks — is trading at over 30% pre-market today as of 6:15 AM ET. Investors are responding to the company’s earnings announcement. These are the highlights.
Q4 2020
-Revenue of $120.5 million
-Gross margin of 51.6%
-GAAP net income of $23.2 million
-Non-GAAP net income of $22.9 million
-GAAP net income per fully diluted share of $0.27
-Non-GAAP net income per fully diluted share of $0.27
-Adjusted EBITDA of $25.3 million
2020 Financial Highlights
-Revenue of $393.2 million
-Gross margin of 51.0%
-GAAP net income of $24.8 million
-Non-GAAP net income of $24.3 million
-GAAP net income per fully diluted share of $0.29
-Non-GAAP net income per fully diluted share of $0.28
-Adjusted EBITDA of $55.3 million
Expected Fiscal Year 2021 Financial Outlook
-Revenue between $425 million and $445 million
-GAAP Operating Income between $28 million and $38 million
-Non-GAAP Operating Income between $48 million and $58 million
-Adjusted EBITDA between $60 million and $70 million
-GAAP diluted net loss per share between $0.05 and $0.14 and Non-GAAP diluted net income per share between $0.23 and $0.32
KEY QUOTES:
“We had one of our strongest quarters with record wireless revenue and a healthy backlog to support our top-line growth in 2021. Our progress this year is evident in our scaling up of new products including our industry leading 5G millimeter wave fixed access devices, diversifying our revenue through increased wireless and fixed telco sales, and expanding our customer base, while simultaneously improving our cost structure. This is continued validation of the strategic direction in which we have been taking our Company to drive long-term, sustainable growth and profitability.”
— Jerry Guo, Casa Systems’ President and CEO
“I am very pleased with our results for the fourth quarter and full year 2020. We achieved top-line and gross profit growth and continued operating leverage off of our efficient cost structure to deliver significant growth in operating income, EBITDA and EPS. We closed the year with a strong cash balance and increased working capital that further strengthened our liquidity and advanced our financial deleveraging.”
— Scott Bruckner, Casa Systems’ CFO
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
