Casa Systems ( NASDAQ: CASA ) stock rises 7%, the company expects to report revenues in the range of $83M-84M for Q4.
These increased Q4 revenue results as compared to revenue results for earlier quarters in 2022 were driven by growing demand for the company’s cable product offerings and increased shipments of its fixed wireless and fiber extension access device products from backlog, as supply chain conditions continued to improve during the quarter.
The company is announcing it has successfully retired an additional $8.9M face value of term loan B debt, supplementing the $41.7M of debt retirements.
"Despite challenging supply chain issues earlier in 2022, we are very pleased to end the year with this improved fourth quarter revenue performance” said Jerry Guo, Casa Systems' President, and Chief Executive Officer. “As we enter 2023, we are looking forward to improved financial results mid-year and during the second half of 2023 as we capitalize on many favorable market dynamics, including the increased Cable MSO demand for our next generation Virtual CCAP and Remote PHY solutions, which are now successfully deployed at several large Cable MSO’s. This increased demand is validated by both publicly announced cable MSO capital equipment spending plans by some of our largest global cable MSO customers, as well as a March 2022 independent analyst survey of 50 cable MSO’s who all indicated they plan to implement next-generation Virtual CCAP solutions within the next 24 months.”
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Casa Systems climbs 7% on Q4 highlights