PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) The unaudited Q1 2020 financial statements reflect substantial revenue growth and a return to profitability [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $134,752 | $113,638 | | Accounts receivable, net | $55,013 | $93,100 | | Inventory | $81,014 | $93,604 | | Total current assets | $287,681 | $308,443 | | Total assets | $418,858 | $444,312 | | **Liabilities & Equity** | | | | Total current liabilities | $71,151 | $94,466 | | Long-term debt, net | $284,282 | $284,756 | | Total liabilities | $379,937 | $405,748 | | Total Stockholders' Equity | $38,921 | $38,564 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (in thousands, except per share data) | Metric | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | Total revenue | $83,623 | $35,486 | | Gross profit | $42,653 | $24,497 | | Loss from operations | $(3,549) | $(14,101) | | Net income (loss) | $1,162 | $(15,339) | | Basic EPS | $0.01 | $(0.18) | | Diluted EPS | $0.01 | $(0.18) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2020 | Three Months Ended March 31, 2019 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $26,069 | $(13,849) | | Net cash used in investing activities | $(390) | $(1,835) | | Net cash used in financing activities | $(4,151) | $(1,095) | | Net increase (decrease) in cash | $21,120 | $(16,170) | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes provide details on the NetComm acquisition, revenue disaggregation, tax benefits, debt, and ongoing litigation - On July 1, 2019, the Company acquired **100%** of NetComm Wireless Limited for AUD **$162.0 million** (USD **$112.7 million**), expanding its portfolio into fixed wireless and distribution point broadband solutions[30](index=30&type=chunk)[60](index=60&type=chunk) - The company recognized a tax benefit of approximately **$9.3 million** in Q1 2020 due to the CARES Act, which allows for the carryback of Net Operating Losses (NOLs) incurred in 2019[90](index=90&type=chunk) - As of March 31, 2020, the company had total outstanding debt of **$296.8 million**, primarily consisting of **$290.3 million** in term loans and a **$6.6 million** mortgage loan[92](index=92&type=chunk) Revenue by Geographic Region (in thousands) | Region | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | North America | $33,952 | $18,431 | | Europe, Middle East and Africa | $14,098 | $7,366 | | Asia-Pacific | $33,188 | $4,724 | | Latin America | $2,385 | $4,965 | | **Total Revenue** | **$83,623** | **$35,486** | Revenue by Product Line (in thousands) | Product Line | Q1 2020 | Q1 2019 | | :--- | :--- | :--- | | Wireless | $20,657 | $228 | | Fixed telecom | $17,932 | $44 | | Cable | $35,169 | $26,381 | | **Total product revenue** | **$73,758** | **$26,653** | | Service revenue | $9,865 | $8,833 | | **Total revenue** | **$83,623** | **$35,486** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion highlights Q1 2020 revenue growth from the NetComm acquisition, impacting margins and expenses, and strong liquidity - The COVID-19 pandemic did not materially adversely affect financial results or operations in Q1 2020, but management acknowledges significant uncertainty for future periods regarding potential impacts on sales channels, supply chain, and customer spending[156](index=156&type=chunk)[157](index=157&type=chunk) - The acquisition of NetComm on July 1, 2019, was the primary driver of financial performance changes in Q1 2020, contributing **$29.5 million** in revenue and leading to shifts in product mix and gross margin[154](index=154&type=chunk)[163](index=163&type=chunk) [Results of Operations](index=31&type=section&id=Results%20of%20Operations) Q1 2020 revenue grew significantly due to the NetComm acquisition, impacting gross margin, with net income improving from a tax benefit - The product gross margin percentage decreased from **64.6%** to **46.3%** year-over-year, primarily due to the acquisition of NetComm, which sells hardware-based products with lower gross margins than the company's historical offerings[165](index=165&type=chunk) - Research and development expenses increased by **15.2%** to **$21.2 million**, mainly due to a **$2.4 million** increase in personnel-related costs from the NetComm acquisition[167](index=167&type=chunk) - Selling, general and administrative expenses increased by **23.8%** to **$25.0 million**, driven by higher professional services fees, partner commissions, and personnel costs related to the NetComm acquisition[169](index=169&type=chunk) Revenue Comparison (in thousands) | Revenue Type | Q1 2020 | Q1 2019 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Product | $73,758 | $26,653 | $47,105 | 176.7% | | Service | $9,865 | $8,833 | $1,032 | 11.7% | | **Total** | **$83,623** | **$35,486** | **$48,137** | **135.7%** | [Liquidity and Capital Resources](index=34&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintained strong liquidity with **$134.8 million** cash and **$216.5 million** working capital, supported by positive operating cash flow - Of the **$134.8 million** in cash and cash equivalents, **$93.7 million** was held by foreign subsidiaries as of March 31, 2020[176](index=176&type=chunk) - Net cash provided by operating activities was **$26.1 million** in Q1 2020, primarily due to a **$38.0 million** decrease in accounts receivable from collections[180](index=180&type=chunk) - Net cash used in financing activities was **$4.2 million**, which included **$3.0 million** for common stock repurchases and **$0.8 million** for debt principal repayments[184](index=184&type=chunk) Key Liquidity Metrics (in thousands) | Metric | March 31, 2020 | December 31, 2019 | | :--- | :--- | :--- | | Cash and cash equivalents | $134,752 | $113,638 | | Working capital | $216,530 | $213,977 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company manages foreign currency and interest rate risks through hedging, with term loan interest rates currently at their floor - The company manages foreign currency risk through derivative instruments. As of March 31, 2020, it had two cash flow hedge contracts to hedge operating cash flows denominated in Australian dollars[205](index=205&type=chunk)[207](index=207&type=chunk) - The company is exposed to interest rate risk on its **$290.3 million** outstanding term loan. The interest rate is based on a floating Eurodollar rate with a **1.00%** floor. As the rate was at the floor on March 31, 2020, further rate decreases would not impact earnings, but rate increases would[210](index=210&type=chunk)[212](index=212&type=chunk) [Item 4. Controls and Procedures](index=40&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2020, with no material changes to internal controls - Based on an evaluation as of the end of the period, the Chief Executive Officer and Interim Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[215](index=215&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[216](index=216&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=41&type=section&id=Item%201.%20Legal%20Proceedings) The company is defending four class action lawsuits related to its 2017 IPO and 2018 offering, with no material loss accrued - The company is facing four putative class action lawsuits related to its 2017 IPO and 2018 follow-on offering, alleging violations of the Securities Act[220](index=220&type=chunk)[221](index=221&type=chunk)[222](index=222&type=chunk) - As of March 31, 2020, no amounts have been accrued for these lawsuits as the company does not believe the likelihood of a material loss is probable[223](index=223&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) This section updates risk factors, including COVID-19 impacts and exclusive forum provisions for Securities Act claims - A new risk factor was added regarding the COVID-19 pandemic, which could negatively impact operations, sales channels, supply chain, and customer spending, potentially having a material adverse effect on financial results[226](index=226&type=chunk)[227](index=227&type=chunk) - The risk factor concerning the exclusive forum provision was updated to reflect a March 2020 Delaware Supreme Court ruling that upheld the facial validity of federal forum selection provisions for Securities Act claims[228](index=228&type=chunk)[230](index=230&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=43&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company had not used its **$79.3 million** IPO proceeds and repurchased **1.2 million** shares for **$3.0 million** in Q1 2020 - As of March 31, 2020, the company had not used any of the **$79.3 million** in net proceeds from its 2017 initial public offering[232](index=232&type=chunk) - As of March 31, 2020, approximately **$70.2 million** remained available for repurchase under the company's stock repurchase program[198](index=198&type=chunk)[233](index=233&type=chunk) Stock Repurchases in Q1 2020 | Period | Total Shares Purchased (thousands) | Average Price Paid per Share | | :--- | :--- | :--- | | Jan 2020 | — | — | | Feb 2020 | — | — | | Mar 2020 | 1,216 | $2.45 | [Item 6. Exhibits](index=44&type=section&id=Item%206.%20Exhibits) This section indexes exhibits filed with the Form 10-Q, including corporate governance documents and SOX certifications - Lists all exhibits filed with the quarterly report, including certifications pursuant to the Sarbanes-Oxley Act of 2002 and XBRL data files[238](index=238&type=chunk)

PART I [Business](index=5&type=section&id=Item%201.%20Business) The company provides broadband network solutions, but faced a revenue decline and net loss in 2019 despite expanding through an acquisition - The company offers end-to-end solutions for cable, fixed-line, and wireless networks, focusing on software-centric, converged architectures to help service providers increase network speed and capacity while reducing total cost of ownership[11](index=11&type=chunk)[12](index=12&type=chunk) Key Financial Performance (2017-2019) | Metric | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | **Revenue** | $282.3M | $297.1M | $351.6M | | **Net (Loss) Income** | ($48.2M) | $73.0M | $88.5M | | **Total Assets** | $444.3M | $474.6M | $469.7M | - On July 1, 2019, the company acquired NetComm Wireless Limited for approximately **AUD $162.0 million (USD $112.7 million)** to expand its customer base, global footprint, and product portfolio[39](index=39&type=chunk) - The company's solutions are commercially deployed in over **70 countries** to more than **475 customers**, including major Tier 1 service providers like Charter, Rogers, Sprint, Verizon, Liberty Global, and China Mobile[16](index=16&type=chunk)[65](index=65&type=chunk) - As of December 31, 2019, the company had a backlog of **$52.0 million**, a significant increase from $28.6 million in 2018, primarily due to the inclusion of NetComm's backlog[79](index=79&type=chunk) [Risk Factors](index=18&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks from technological shifts, customer concentration, intense competition, and international operations - The company's success is highly dependent on its ability to anticipate technological shifts and develop new products in a market characterized by **rapid change** and complex customer requirements[91](index=91&type=chunk) - A substantial portion of revenue comes from a few large customers; in 2019, **Charter Communications accounted for 14%** of revenue and the **National Broadband Network for 12%**[95](index=95&type=chunk)[97](index=97&type=chunk) - The company faces intense competition from larger, more established companies such as Adtran, Cisco, CommScope, Ericsson, Huawei, Inseego, Nokia, and Samsung[108](index=108&type=chunk)[110](index=110&type=chunk)[111](index=111&type=chunk) - International operations are subject to risks including regulatory changes, **tariffs (such as U.S.-China trade tariffs)**, currency fluctuations, and geopolitical instability[122](index=122&type=chunk)[124](index=124&type=chunk)[127](index=127&type=chunk) - The recent **coronavirus outbreak** in China could disrupt business operations and cause inventory shipment delays[199](index=199&type=chunk)[200](index=200&type=chunk) - As of December 31, 2019, the company was in **default of the net leverage ratio covenant** in its credit facility[206](index=206&type=chunk)[364](index=364&type=chunk) - As of January 31, 2020, insiders beneficially owned approximately **62.6% of outstanding common stock**, giving them significant influence over company matters[219](index=219&type=chunk) [Unresolved Staff Comments](index=42&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments from the Securities and Exchange Commission - There are no unresolved staff comments[240](index=240&type=chunk) [Properties](index=42&type=section&id=Item%202.%20Properties) The company owns its headquarters in Massachusetts and leases other global facilities for manufacturing, R&D, and support - The corporate headquarters is an owned property of approximately **122,000 square feet** in Andover, Massachusetts, subject to an $8.0 million mortgage loan with a remaining balance of $6.6 million as of December 31, 2019[241](index=241&type=chunk) - The company leases additional facilities globally for manufacturing, R&D, and support in locations including Lawrence, MA; Salem, NH; Limerick, Ireland; Guangzhou, China; and Sydney, Australia[242](index=242&type=chunk) [Legal Proceedings](index=42&type=section&id=Item%203.%20Legal%20Proceedings) The company is defending against class action lawsuits related to its 2017 IPO and 2018 Follow-on Offering - The company is facing **four putative class action lawsuits** alleging federal securities law violations related to its 2017 IPO and 2018 Follow-on Offering[245](index=245&type=chunk)[247](index=247&type=chunk)[248](index=248&type=chunk) - The lawsuits allege that the registration statements and prospectuses for the offerings were materially misleading[245](index=245&type=chunk)[247](index=247&type=chunk)[248](index=248&type=chunk) - As of December 31, 2019, **no amounts have been accrued** for these lawsuits, as the company does not believe the likelihood of a material loss is probable[249](index=249&type=chunk) [Mine Safety Disclosures](index=43&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section is not applicable to the company's business - Not applicable[250](index=250&type=chunk) PART II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=44&type=section&id=Item%205.%20Market%20for%20Registrant's%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's stock trades on Nasdaq, and a stock repurchase program was active in the fourth quarter of 2019 - The company's common stock trades on the Nasdaq Global Select Market under the symbol **"CASA"**, commencing on December 15, 2017[254](index=254&type=chunk) - A stock repurchase program of up to **$75.0 million** was authorized on February 21, 2019; during the fourth quarter of 2019, the company repurchased 495,000 shares for approximately **$1.8 million**[261](index=261&type=chunk) - As of December 31, 2019, the company had not used any of the **$79.3 million** in net proceeds from its 2017 initial public offering[263](index=263&type=chunk) [Selected Financial Data](index=45&type=section&id=Item%206.%20Selected%20Financial%20Data) This section presents five-year financial data showing revenue and net income declines from a 2017 peak Selected Consolidated Statement of Operations Data (2015-2019) | (in thousands, except per share amounts) | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Total revenue** | $282,297 | $297,127 | $351,575 | $316,128 | $272,450 | | **Gross profit** | $162,532 | $217,966 | $258,064 | $218,311 | $192,836 | | **(Loss) income from operations** | ($9,119) | $78,966 | $136,222 | $114,772 | $103,071 | | **Net (loss) income** | ($48,206) | $73,006 | $88,500 | $88,668 | $67,921 | | **Net (loss) income per share, diluted** | ($0.57) | $0.79 | $0.26 | ($1.07) | $0.78 | Selected Consolidated Balance Sheet Data (As of Dec 31, 2015-2019) | (in thousands) | 2019 | 2018 | 2017 | 2016 | 2015 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Cash and cash equivalents** | $113,638 | $280,587 | $260,820 | $343,946 | $92,496 | | **Working capital** | $213,977 | $328,400 | $324,710 | $286,652 | $162,981 | | **Total assets** | $444,312 | $474,649 | $469,697 | $583,035 | $283,097 | | **Long-term debt, including current portion** | $293,280 | $295,459 | $297,615 | $299,751 | $7,795 | | **Total stockholders' equity (deficit)** | $38,564 | $74,856 | $50,156 | ($71,703) | $82,458 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=48&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 5.0% revenue decrease, a significant drop in gross margin, and a net loss in 2019 [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Revenue decreased 5.0% in 2019 due to lower cable sales, while the NetComm acquisition lowered gross margins and increased operating expenses Revenue Comparison (2019 vs. 2018) | (in thousands) | 2019 | 2018 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Product Revenue** | $241,377 | $256,989 | ($15,612) | (6.1)% | | **Service Revenue** | $40,920 | $40,138 | $782 | 1.9% | | **Total Revenue** | $282,297 | $297,127 | ($14,830) | (5.0)% | - The decrease in 2019 product revenue was due to lower sales of cable products to existing customers, partially offset by sales from the NetComm acquisition, which also drove a **113.9% increase in Asia-Pacific revenue**[286](index=286&type=chunk)[310](index=310&type=chunk) Gross Profit and Margin Comparison (2019 vs. 2018) | (in thousands) | 2019 Amount | 2019 Margin | 2018 Amount | 2018 Margin | Change (bps) | | :--- | :--- | :--- | :--- | :--- | :--- | | **Product Gross Profit** | $128,318 | 53.2% | $182,639 | 71.1% | (1,790) | | **Service Gross Profit** | $34,214 | 83.6% | $35,327 | 88.0% | (440) | | **Total Gross Profit** | $162,532 | 57.6% | $217,966 | 73.4% | (1,580) | - The decrease in product gross margin was primarily due to sales of **lower-margin NetComm** fixed wireless access and FTTdp devices[312](index=312&type=chunk) - Operating expenses increased significantly in 2019; **R&D expenses rose 17.4%** to $83.3 million, and **SG&A expenses rose 29.8%** to $88.3 million, both primarily driven by the NetComm acquisition[314](index=314&type=chunk)[315](index=315&type=chunk)[316](index=316&type=chunk) [Liquidity and Capital Resources](index=58&type=section&id=Liquidity%20and%20Capital%20Resources) Cash decreased significantly due to the NetComm acquisition, and the company's revolving credit facility is restricted by covenant limitations Cash and Working Capital Summary | (in thousands) | Dec 31, 2019 | Dec 31, 2018 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $113,638 | $280,587 | | **Working capital** | $213,977 | $328,400 | Consolidated Cash Flow Summary | (in thousands) | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | **Net cash (used in) provided by operating activities** | ($39,022) | $98,545 | $95,008 | | **Net cash (used in) provided by investing activities** | ($118,022) | ($7,966) | $7,575 | | **Net cash used in financing activities** | ($9,527) | ($68,351) | ($172,661) | - The primary use of cash in investing activities in 2019 was the **$112.7 million** (net of cash acquired) for the acquisition of NetComm[334](index=334&type=chunk)[348](index=348&type=chunk) - The company has a term loan facility with **$291.0 million outstanding** as of Dec 31, 2019, and its use of a $25.0 million revolving credit facility is restricted by a net leverage ratio covenant[356](index=356&type=chunk)[360](index=360&type=chunk)[364](index=364&type=chunk) [Critical Accounting Policies and Significant Judgments and Estimates](index=63&type=section&id=Critical%20Accounting%20Policies%20and%20Significant%20Judgments%20and%20Estimates) Key accounting policies include revenue recognition under the newly adopted ASC 606, goodwill impairment, and inventory valuation - Effective January 1, 2019, the company adopted **ASC Topic 606**, Revenue from Contracts with Customers, resulting in a cumulative adjustment increasing the opening accumulated deficit by **$2.15 million**[373](index=373&type=chunk)[572](index=572&type=chunk) - Under ASC 606, the company allocates the transaction price based on relative standalone selling prices (SSP) and recognizes revenue when control transfers to the customer[376](index=376&type=chunk)[379](index=379&type=chunk) - The company capitalizes incremental costs of obtaining a contract, such as sales commissions, and amortizes them over the period of benefit[391](index=391&type=chunk) - The 2019 qualitative assessment for goodwill from the NetComm acquisition concluded that **impairment was not likely**[408](index=408&type=chunk)[409](index=409&type=chunk) - As of December 31, 2019, the company recognized a **valuation allowance of $39.1 million** against its net U.S. deferred tax assets[412](index=412&type=chunk)[562](index=562&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=70&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from foreign currency exchange rates and interest rate fluctuations on its variable-rate debt - The company has exposure to **foreign currency risk** from international operations and uses foreign currency forward contracts to mitigate volatility[430](index=430&type=chunk) - The company is exposed to **interest rate risk** on its $291.0 million outstanding variable-rate term loan; a 10% change in the one-month Eurodollar rate would impact pre-tax earnings by approximately **$0.5 million** annually[434](index=434&type=chunk) [Financial Statements and Supplementary Data](index=72&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) This section contains the audited consolidated financial statements and related notes for the past three fiscal years - The independent auditor, PricewaterhouseCoopers LLP, issued an **unqualified opinion** on the consolidated financial statements[442](index=442&type=chunk)[443](index=443&type=chunk) Consolidated Balance Sheet Summary (As of Dec 31) | (in thousands) | 2019 | 2018 | | :--- | :--- | :--- | | **Total current assets** | $308,443 | $417,511 | | **Total assets** | $444,312 | $474,649 | | **Total current liabilities** | $94,466 | $89,111 | | **Total liabilities** | $405,748 | $399,793 | | **Total stockholders' equity** | $38,564 | $74,856 | Consolidated Statement of Operations Summary (Year Ended Dec 31) | (in thousands) | 2019 | 2018 | 2017 | | :--- | :--- | :--- | :--- | | **Total revenue** | $282,297 | $297,127 | $351,575 | | **Gross profit** | $162,532 | $217,966 | $258,064 | | **(Loss) income from operations** | ($9,119) | $78,966 | $136,222 | | **Net (loss) income** | ($48,206) | $73,006 | $88,500 | - The acquisition of NetComm on July 1, 2019, for **$112.7 million** resulted in the recognition of **$50.3 million in goodwill** and **$44.0 million in identifiable intangible assets**[583](index=583&type=chunk)[585](index=585&type=chunk) - As of December 31, 2019, the company had **$297.6 million in total principal debt outstanding**, primarily from its term loan facility[621](index=621&type=chunk) [Changes in and Disagreements With Accountants on Accounting and Financial Disclosure](index=115&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20With%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - None[701](index=701&type=chunk) [Controls and Procedures](index=116&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal control over financial reporting were effective as of year-end 2019 - Management concluded that the company's disclosure controls and procedures were **effective** as of December 31, 2019[703](index=703&type=chunk) - Based on the COSO 2013 framework, management concluded that the company's internal control over financial reporting was **effective** as of December 31, 2019[706](index=706&type=chunk) - There were **no material changes** in internal control over financial reporting during the fourth quarter of 2019[708](index=708&type=chunk) [Other Information](index=116&type=section&id=Item%209B.%20Other%20Information) The company reports no other information for this item - None[709](index=709&type=chunk) PART III [Directors, Executive Officers and Corporate Governance](index=117&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) Information for this item is incorporated by reference from the company's 2020 proxy statement - The required information is **incorporated by reference** from the definitive proxy statement for the 2020 Annual Meeting of Stockholders[712](index=712&type=chunk) [Executive Compensation](index=117&type=section&id=Item%2011.%20Executive%20Compensation) Information for this item is incorporated by reference from the company's 2020 proxy statement - The required information is **incorporated by reference** from the definitive proxy statement for the 2020 Annual Meeting of Stockholders[714](index=714&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=117&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Stockholder%20Matters) Information for this item is incorporated by reference from the company's 2020 proxy statement - The required information is **incorporated by reference** from the definitive proxy statement for the 2020 Annual Meeting of Stockholders[715](index=715&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=117&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) Information for this item is incorporated by reference from the company's 2020 proxy statement - The required information is **incorporated by reference** from the definitive proxy statement for the 2020 Annual Meeting of Stockholders[716](index=716&type=chunk) [Principal Accounting Fees and Services](index=117&type=section&id=Item%2014.%20Principal%20Accounting%20Fees%20and%20Services) Information for this item is incorporated by reference from the company's 2020 proxy statement - The required information is **incorporated by reference** from the definitive proxy statement for the 2020 Annual Meeting of Stockholders[717](index=717&type=chunk) PART IV [Exhibits, Financial Statement Schedules](index=118&type=section&id=Item%2015.%20Exhibits%2C%20Financial%20Statement%20Schedules) This section lists the financial statements, schedules, and exhibits filed as part of the annual report - This item lists all exhibits filed with the Form 10-K, including the company's Restated Certificate of Incorporation, bylaws, credit agreements, and various stock incentive plans[720](index=720&type=chunk)[721](index=721&type=chunk) [Form 10-K Summary](index=120&type=section&id=Item%2016.%20Form%2010-K%20Summary) This section is not applicable - Not applicable[725](index=725&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _________. Commission File Number: 001-38324 Casa Systems, Inc. (Exact name of registrant as specified in its charter) Delaware 75-3108867 ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _________. Commission File Number: 001-38324 Casa Systems, Inc. (Exact name of registrant as specified in its charter) Delaware 75-3108867 (State ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to _________. | --- | --- | |------------------------------------------------------------------------------------------------------|--------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38324 Casa Systems, Inc. (Exact name of Registrant as specified in its Charter) Delaware 75-3108867 (State or other jurisdiction of i ...