Loading...
Docoh

Casa Systems (CASA)

Casa Systems, Inc. delivers the core-to-customer building blocks to speed 5G transformation with future-proof solutions and cutting-edge bandwidth for all access types. In today's increasingly personalized world, Casa creates disruptive architectures built specifically to meet the needs of service provider networks. Its suite of open, cloud-native network solutions unlocks new ways for service providers to build networks without boundaries and maximize revenue-generating capabilities. Commercially deployed in more than 70 countries, Casa serves over 475 Tier 1 and regional service providers worldwide.

Company profile

Ticker
CASA
Exchange
CEO
Jerry Guo
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Casa Communications Limited • Casa Communications Technology S.L. • Casa Properties LLC • Casa Systems B.V. • Casa Systems Canada Ltd. • Casa Systems SAS • Casa Systems Securities Corporation • Guangzhou Casa Communications Ltd. • Casa Communications SAS • Casa Technologies Limited ...

CASA stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 198.94M 198.94M 198.94M 198.94M 198.94M 198.94M
Cash burn (monthly) (no burn) (no burn) 6.91M 3.76M 2.83M (no burn)
Cash used (since last report) n/a n/a 10.03M 5.46M 4.11M n/a
Cash remaining n/a n/a 188.9M 193.48M 194.83M n/a
Runway (months of cash) n/a n/a 27.4 51.5 68.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
14 Jun 22 Styslinger William C Iii Common Stock Option exercise Acquire M No No 0 16,043 0 670,179
14 Jun 22 Styslinger William C Iii RSU Common Stock Option exercise Dispose M No No 0 16,043 0 0
14 Jun 22 Mead Daniel S. Common Stock Option exercise Acquire M No No 0 16,043 0 93,820
14 Jun 22 Mead Daniel S. RSU Common Stock Option exercise Dispose M No No 0 16,043 0 0
14 Jun 22 Susana D'Emic Common Stock Option exercise Acquire M No No 0 16,043 0 96,248
14 Jun 22 Susana D'Emic RSU Common Stock Option exercise Dispose M No No 0 16,043 0 0
14 Jun 22 Michael T Hayashi Common Stock Option exercise Acquire M No No 0 16,043 0 100,844
14 Jun 22 Michael T Hayashi RSU Common Stock Option exercise Dispose M No No 0 16,043 0 0
26 May 22 Styslinger William C Iii Common Stock Buy Acquire P No No 4.05 1,000 4.05K 654,136
25 May 22 Styslinger William C Iii Common Stock Buy Acquire P No No 4.01 83,923 336.53K 653,136
61.7% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 86 87 -1.1%
Opened positions 8 13 -38.5%
Closed positions 9 20 -55.0%
Increased positions 29 30 -3.3%
Reduced positions 33 33
13F shares Current Prev Q Change
Total value 488.31M 368.64M +32.5%
Total shares 58.06M 58.32M -0.4%
Total puts 21.5K 25.9K -17.0%
Total calls 0 10.7K EXIT
Total put/call ratio Infinity 2.4 +Infinity%
Largest owners Shares Value Change
Summit Partners L P 34.12M $154.24M 0.0%
Alliancebernstein 4.37M $19.76M -3.2%
BLK Blackrock 2.34M $10.58M +2.7%
Vanguard 2.19M $9.89M +15.6%
Benefit Street Partners 1.69M $7.64M 0.0%
Peregrine Capital Management 1.42M $6.4M -3.3%
AMP Ameriprise Financial 1.26M $5.7M +32.1%
Penserra Capital Management 1.22M $5.51M -7.0%
Hotchkis & Wiley Capital Management 763.9K $3.45M +41.0%
FMR 745K $3.37M -61.7%
Largest transactions Shares Bought/sold Change
FMR 745K -1.2M -61.7%
Invenomic Capital Management 357.78K +357.78K NEW
AMP Ameriprise Financial 1.26M +306.65K +32.1%
Vanguard 2.19M +295.64K +15.6%
Hotchkis & Wiley Capital Management 763.9K +222.15K +41.0%
Boardman Bay Capital Management 0 -209.43K EXIT
Alliancebernstein 4.37M -143.25K -3.2%
Penserra Capital Management 1.22M -92.03K -7.0%
Dimensional Fund Advisors 641.79K +89.18K +16.1%
Aqr Capital Management 179.04K +89.03K +98.9%

Financial report summary

?
Risks
  • We believe the CSP industry is in the early stages of a major architectural shift toward the virtualization of networks and the use of networks with distributed architectures. If the architectural shift does not occur, if it does not occur at the pace we predict, or if the products and services we have developed are not attractive to our customers after such shift takes place, our revenues could decline.
  • If we do not successfully anticipate technological shifts, market needs and opportunities, and develop new products and product enhancements that meet those technological shifts, needs and opportunities, we may not be able to compete effectively.
  • Our continued growth depends on the pace and level of investment in 5G and 5G-related technologies.
  • We have invested heavily in developing wireless and fixed-line broadband solutions, and we face risks in seeking to expand our platform into the wireless and fixed-line broadband markets.
  • Adverse economic conditions or reduced broadband infrastructure spending may adversely affect our business, financial condition, results of operations and prospects.
  • Regulations affecting broadband infrastructure could reduce demand for our products.
  • Timing of large orders and seasonality in our revenue may cause our quarterly revenue and results of operations to fluctuate and possibly decline materially from quarter to quarter.
  • Our sales to the CSP market are volatile and our sales cycles can be long and unpredictable. As a result, our sales and revenue are difficult to predict and may vary substantially from period to period, which may cause our revenue and results of operations to fluctuate and possibly decline significantly.
  • We are exposed to the credit risk of some of our customers and to credit exposures in the event of turmoil in the credit markets, which could result in material losses.
  • We expect certain of our customers will continue to represent a substantial portion of our revenue.
  • If we are unable to sell additional products to our existing customers, our revenue will be adversely affected.
  • We may have difficulty attracting new large customers or acquiring new customers due to the high costs of switching broadband equipment.
  • Our converged cable access platform, or CCAP, solutions currently represent a significant percentage of our product sales; our business would be adversely affected in the event we are unable to sell one or more of our CCAP products.
  • We generate a significant amount of revenue from sales to customers outside of the United States and have increased geographic diversity of our revenues following the acquisition of NetComm; we are therefore subject to a number of risks associated with international sales and operations.
  • We rely on resellers and sales agents to sell our products into certain international markets, and the loss of such resellers and sales agents could delay or harm our ability to deliver our products to our customers.
  • We are subject to governmental export and import controls and similar restrictions that could impair our ability to compete in international markets or subject us to liability if we violate them.
  • Our products are necessary for the operation of our customers’ broadband service operations. Product quality problems, warranty claims, services disruptions, or other defects, errors or vulnerabilities in our products or services could harm our reputation and materially adversely affect our business, financial condition, results of operations and prospects.
  • Our ability to sell our products is highly dependent on the quality of our support and services offerings, and our failure to offer high-quality support and services could have a material adverse effect on our business, financial condition, results of operations and prospects.
  • We may not generate positive returns on our research and development investments.
  • Our products must interoperate with operating systems, software applications and hardware, and comply with industry
  • Our operations have experienced rapid growth in recent years, and if we do not appropriately manage any future growth or are unable to improve our systems and processes, our business, financial condition, results of operations and prospects will be adversely affected.
  • If we are unable to hire, retain, train and motivate qualified personnel and senior management, including in particular our founders, our business, financial condition, results of operations and prospects could be adversely affected.
  • If we do not effectively expand and train our direct sales force, we may be unable to increase sales to our existing customers or add new customers, and our business will be adversely affected.
  • Because we depend on third-party manufacturers to build our hardware, we are susceptible to manufacturing delays and pricing fluctuations that could prevent us from delivering customer orders on time, if at all, or on a cost-effective basis, which may result in the loss of sales and customers.
  • Because some of the key components in our products come from limited sources of supply, we are susceptible to supply shortages or supply changes, which could disrupt or delay our scheduled product deliveries to our customers and may result in the loss of sales and customers.
  • We base our inventory requirements on our forecasts of future sales. If these forecasts are materially inaccurate, we may procure inventory that we may be unable to use in a timely manner or at all.
  • As the majority of the growth in our revenue and income from operations has occurred since 2013, it is difficult to evaluate our future prospects.
  • We have outstanding debt that could limit our ability to make expenditures and investments in the conduct of our business and adversely impact our ability to obtain future financing.
  • Our credit facility contains restrictive and financial covenants that may limit our operating flexibility.
  • Breaches of our cybersecurity systems and measures could degrade our ability to conduct our business operations and deliver products and services to our customers, delay our ability to recognize revenue, compromise the integrity of our products, result in significant data losses and the theft of our intellectual property, damage our reputation, expose us to liability to third parties and require us to incur significant additional costs to maintain the security of our networks and data.
  • We may invest in or acquire other businesses, which could require significant management attention, disrupt our business, dilute stockholder value and adversely affect our business, financial condition, results of operations and prospects.
  • Litigation could distract management, increase our expenses or subject us to material money damages and other remedies.
  • The coronavirus outbreak could negatively impact our operations and have an adverse effect on our revenues and/or results of operations.
  • The coronavirus outbreak has resulted in an increase in demand for certain of our solutions, which may subside or decrease when the pandemic ends.
  • If we are unable to obtain, maintain or protect our intellectual property rights, our competitive position could be harmed or we could be required to incur significant expenses to enforce our rights.
  • If our trademarks and trade names are not adequately protected, then we may not be able to build name recognition in our markets of interest and our business may be adversely affected.
  • Unavailability, termination or breach of licenses to third-party software and other intellectual property could materially harm our business.
  • Our products contain third-party open source software components, and failure to comply with the terms of the underlying open source software licenses could restrict our ability to sell our products.
  • Assertions by third parties of infringement or other violations by us of their intellectual property rights, or other lawsuits asserted against us, could result in significant costs and materially adversely affect our business, financial condition, results of operations and prospects.
  • Our indemnification obligations to our customers and business partners for claims of intellectual property infringement or misappropriation are relatively broad in scope and could result in significant liability for us.
  • Our results of operations are likely to vary significantly from period to period and be unpredictable. If we fail to meet the expectations of analysts or investors, the market price of our common stock could decline substantially.
  • The market price of our common stock has been volatile in the past and may be volatile in the future, which could result in substantial losses for investors.
  • We have broad discretion in the use of our cash reserves and may not use them effectively.
  • Because we do not expect to declare any dividends on our common stock for the foreseeable future, investors in our common stock may never receive a return on their investment.
  • A significant portion of our total outstanding shares may be sold into the public market at any time, which could cause the market price of our common stock to drop significantly, even if our business is doing well.
  • Our management team has limited experience managing a public company.
  • Anti-takeover provisions in our restated certificate of incorporation and our amended and restated bylaws, as well as provisions of Delaware law, might discourage, delay or prevent a change in control of our company or changes in our management and, therefore, depress the trading price of our common stock.
  • Our restated certificate of incorporation provides that the Court of Chancery of the State of Delaware will be the exclusive forum for substantially all disputes between us and our stockholders. Our restated certificate of incorporation further provides that the federal district courts of the United States are the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. These choice of forum provisions could limit our stockholders’ ability to obtain a more favorable judicial forum for disputes with us or our directors, officers or employees.
  • The requirements of being a public company may strain our resources, divert management’s attention and affect our ability to attract and retain qualified board members.
  • We are exposed to fluctuations in currency exchange rates, which could adversely affect our business, financial condition, results of operations and prospects.
  • We are subject to anti-corruption laws such as the FCPA.
  • Our failure to adequately protect personal data and to comply with related laws and regulations could result in material liability.
  • Changes in U.S. and foreign tax rules and regulations, or interpretations thereof, may give rise to potentially adverse tax consequences and adversely affect our financial condition.
  • If we needed to raise additional capital to expand our operations and invest in new products, our failure to do so on favorable terms could reduce our ability to compete and could materially adversely affect our business, financial condition, results of operations and prospects.
  • Our business is subject to the risks of fire, power outages, floods and other catastrophic events and to interruption by manmade problems such as terrorism.
  • The elimination of LIBOR could adversely affect our business, results of operations or financial condition.
  • We are an “emerging growth company,” and the reduced disclosure requirements applicable to emerging growth companies may make our common stock less attractive to investors.
  • We are subject to U.S. foreign investment regulations which may impose additional burdens on or may limit certain investors’ ability to purchase our common stock, potentially making our common stock less attractive to investors.
Management Discussion
  • The increase in product revenue was primarily attributed to continued increased demand for our wireless products, with partial offset due to supply chain delays.  The increase in wireless revenue was partially offset by decreased revenue from our fixed telco and cable product lines, both of which have been adversely affected by supply chain delays and decreased demand.  Fixed telco revenue was also adversely impacted by reduced revenue from a Tier 1 customer that has recently completed its infrastructure buildout.  
  • The overall increase in service revenue was primarily due to increased support renewals and steady sales of fixed telco services, partially offset by a decline in wireless service revenue.  The decline in wireless services was partially driven by a decline in professional services projects.
  • The increase in cost of product revenue was primarily attributed to increased revenue and supply chain issues, including increased shipping charges and prices of our component parts.  The overall product gross margin decline was also due to the mix of products sold, with lower margin wireless products comprising a larger percentage of total revenue.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
New words: amicable, claim, competitor, composed, consumer, convention, coupled, COVID, criteria, detrimental, environment, factor, failed, fairly, field, inflationary, notification, ownership, proceeding, produce, proposal, proposed, reaction, refinancing, reimbursement, reversal, reviewing, stockholder, subcontract, substitution, suggested, supplement, unable, unauthorized, usage, viable, written
Removed: certainty, dividend, exercisable, likelihood, referenced, resolution, resolved, ultimate, yield

Patents

Utility
Methods and Apparatus for Generating and Using Dynamic Profiles for Cable Transmission Systems
4 Aug 22
The techniques described herein relate to methods, apparatus, and computer readable media configured to schedule individual orthogonal frequency-division multiple access (OFDMA) resources on an upstream channel to serve a data transmission request from a downstream device.
Utility
Methods and Apparatus for Recovering Network Association Information
24 Mar 22
The techniques described herein relate to methods, apparatus, and computer readable media configured to determine a current data transmission sequence number for a next packet in a communication session with a remote computing device.
Utility
Methods and apparatus for generating and using dynamic profiles for cable transmission systems
22 Mar 22
The techniques described herein relate to methods, apparatus, and computer readable media configured to schedule individual orthogonal frequency-division multiple access (OFDMA) resources on an upstream channel to serve a data transmission request from a downstream device.
Utility
Methods and apparatus for recovering network association information
4 Jan 22
The techniques described herein relate to methods, apparatus, and computer readable media configured to determine a current data transmission sequence number for a next packet in a communication session with a remote computing device.
Utility
Scalable Evolved Packet Core
21 Oct 21
The techniques described herein relate to methods, apparatus, and computer readable media configured to provide a distributed core framework for a voice and data network.