"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." Guo added "We are further seeing growing demand for our Access Device products, including our new 4G/5G enterprise small cell radio offerings as demonstrated by a recent win at a leading North American mobile network operator which added $8 million to our backlog for shipment in 2023. Meanwhile, several of our key suppliers have publicly commented on lead times returning to normal, evidencing supply chain improvements which should allow us to ship and realize a substantial portion of our ending 2022 backlog. This ending backlog was in excess of $150 million, excludes future TCV billings under multi-year cloud and 4G/5G small cell radio as-ordered contracts for 2024 and beyond, and also excludes deferred revenue on our balance sheet at year end. Finally, we continue to make good progress with our new Cloud software products, customers and partnerships and believe these collective efforts will also favorably impact mid-year and second half 2023 performance."
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CASA:
