Casa Systems reports fourth quarter 2020 and full year 2020 financial results
Via Casa Systems press room
Feb 21, 2021
Fourth Quarter 2020 Financial & Operational Highlights
- 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
“We had one of our strongest quarters with record wireless revenue and a healthy backlog to support our top-line growth in 2021,” said
To supplement our financial results presented in accordance with Generally Accepted Accounting Principles (“GAAP”), we are presenting non-GAAP financial measures in this press release. A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures”.
Financial Outlook
For the fiscal year 2021, we expect:
- 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
Guidance for non-GAAP financial measures excludes acquisition costs and other non-recurring expenses, which are one-time non-recurring charges; stock-based compensation, which is a non-cash charge; adjustments to the tax provision for the CARES Act; and the resulting tax effect of these excluded items. We have not reconciled the non-GAAP metrics as to which we provide guidance to their most directly comparable GAAP metrics because certain items that impact these excluded measures are uncertain, out of our control and/or cannot be reasonably calculated or predicted at this time. Accordingly, a reconciliation of the non-GAAP financial metrics included in our guidance to the corresponding GAAP measures is not available without unreasonable effort.
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