Casa Systems, Inc.

Hello, and welcome to the CASA Systems Q4 2022 Earnings Conference Call and Webcast. If anyone should require operator assistance, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Dennis Daly, Director of Investor Relations. Please go ahead, Dennis.

Thank you, operator, and good afternoon, everyone. Casa Systems' release results for the fourth quarter of fiscal year 2022 ended December 31st, 2022, this afternoon after the market closed. If you did not receive a copy of our earnings press release, you may obtain it from the investor relations section of our website at investors.casasystems.com. With me on today's call are Jerry Guo, our Chief Executive Officer, and Ed Durkin, our Chief Financial Officer. 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, it 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 that we make on this call or in the earnings release are based upon information we believe as of today and 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 is useful to investors or believe it will be helpful to investors to better understand our performance or business trends. And with that, I'd like to turn the call over to Jerry. Jerry?

Thank you, Dennis, and good afternoon, everyone. Thank you for joining us today on our call. As Dennis mentioned, we issued a press release announcing our fourth quarter and year-end 2022 financial results, which Ed will cover in more detail later. It was a good quarter for CASA with substantial growth. sequential growth and return to GAAP net income and positive net adjusted EBITDA results, as Ed will cover in more detail. And I am very pleased with these results and our renewed momentum. With 2022 now behind us, there is much work to be done to accelerate our growth and return to profitability. and we believe 2023 will be a critical year for Casa as we bring our innovative solutions to the market in a cash and capital efficient manner. We are continuing to make tremendous progress on our transformation towards software and the cloud. Our backlog entering the year is strong. Our balance sheet deferred revenue is up, and we have a solid sales pipeline across our cable CAD, cloud, and RAM product lines with the many new Tier 1 CSP late-stage sales discussions and negotiations. We are also seeing growing demand for our fixed wireless access and fiber extension deployments across multiple geographies. Furthermore, we expect to deliver shipments of our latest APEX 4G, 5G enterprise small cell later this year as part of a multi-year contract with a Tier 1 CSP. With respect to our cloud-native 5G core and edge portfolio, KASA's technology powered YTL's win of the Okla Speedtest Award for Yes 5G Network in Malaysia, representing a significant validation of our capabilities. KASA was also part of several recent customer announcements, including Telenor's recent 5G deployment and Orange's unveiling of Europe's first experimental end-to-end 5G SA network, PKO. Adding to this news, our multi-year 140 million TCV partnership with Verizon that was announced in April 2022 to provide our 5G cloud-native software to power Verizon's public mobile edge computing service offering remains on track. with CASA meeting all the key 2022 code deliveries and milestones called for in our contract with Verizon. Our team was delighted to spend time with our customers and showcase our technology at the recent Mobile World Congress in Barcelona a few weeks ago, where our innovative 5G core technology was on full display. Several of our key partners made significant announcements regarding their work with KASA, including Google's simplified cloud-native network functions deployment with a native Kubernetes networking and network function optimizer. And IBM's work with KASA and Enya to build a complete private 5G solution that's more scalable, dynamically adjustable, reliable, and secure. I'd also like to highlight Intel's virtual BNG 1 terabit per second throughput success, which was also announced at Mobile World Congress. This remarkable achievement demonstrates CASA's ability to deliver 1 terabit per second on one server, resulting in better performance that requires less power and less space. With this technology, providers will be able to offer services at the edge that meet their performance standards and to more cost-effectively expand into markets with new fiber-to-the-home services. Adding to our momentum, our technology was featured in several demonstrations from our key partners, including AWS, with Totoji's monetizable NPN solution, Orange's PKO solution, 5G core that I mentioned earlier, and the rep has continued work on NPN solutions. This was an incredible showing for CASA, and we're honored to work with such important partners around the world to drive the next level of innovation. Finally, we also announced today that Scott Bruckner, CASA's former chief financial officer, will be joining the board of directors to help guide the company through its next chapter. Scott has made important contributions to CASA in the past as the former CFO, and he brings a deep understanding of the company's business strategy and major customers. We look forward to the experience and expertise that Scott will bring to the board. With that, I would now like to turn the call over to CASA's Chief Financial Officer, Ed Durkin, for his comments on the company's performance in the fourth quarter and the full year and our 2023 outlook. Ed?