Casa Systems, Inc. Stock Price, News & Analysis

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 Investors can access a live audio webcast via the Company’s Investor Relations website, and an archived version will be available for 90 days post-event.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.