Casa Systems, Inc. (NASDAQ:CASA) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET

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Casa Systems, Inc. (NASDAQ:CASA) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings and welcome to the Casa Systems Second Quarter 2020 Financial Results Conference Call. [Operator Instructions] Please note this conference is being recorded.

It is now my pleasure to introduce your host, Jackie Marcus. Please go ahead.

Executive
Jackie Marcus

Thank you, operator, and good afternoon everyone. Casa Systems released results for the second quarter of 2020 ended June 30, 2020, this afternoon after the market closed. If you did not receive a copy of our earnings press release, you may obtain it from our Investor Relations section of our website at investors.casa-systems.com. With me on today's call are Jerry Guo, Chief Executive Officer; and Scott Bruckner, Interim Chief Financial Officer and Senior Vice President.

This call is being webcast and will be archived on the Investor Relations section of our website. Before I turn the call over to Jerry, I'd like to note that today's discussion will contain forward-looking statements based on the business environment as we currently see it and, as such, does include certain risks and uncertainties. Please refer to our press release and our SEC filings for more information on the specific risk factors that could cause our actual results to differ materially from the projections described in today's discussion. Any forward-looking statements we may make on this call or in the earnings release are based upon the information that we believe as of today, and we undertake no obligation to update these statements as a result of new information or future events.

In addition to US GAAP reporting, we report certain financial measures that do not conform to generally accepted accounting principles. During the call, we may use non-GAAP measures if we believe it useful to investors or believe it will help investors better understand our performance or business trends.

And with that, I'd like to turn the call over to Jerry. Jerry? Good afternoon everyone and thanks for joining us today as we discuss our second quarter results. Before I discuss our financial and operational results, I would like to take a moment to extend my sincerest thanks to the tremendous team we have at Casa Systems for their unwavering dedication and belief in our business. We are in unprecedented times and I am proud to say that our organization remains focused on its commitment to provide the technology infrastructure necessary to keep people connected. I hope all of you and your families are staying safe and healthy. Let's turn to our performance in the second quarter. In our first full quarter under the global pandemic, we once again delivered strong results. This came from executing on our strategy of driving revenue in our growth products, continuing to diversify our revenue and customer base and focusing on improving our profitability and free cash flow. Before providing details on the quarter, I would like to outline several highlights from Q2. We delivered strong top line performance at $83.4 million, which was driven by an expanded product footprint and higher demand for our wireless and the fixed telco products. As