Harmonic Inc.
10.38-0.17 (-1.61%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · HLIT · USD
Key Stats
Market Cap
1.18BP/E (TTM)
17.59Basic EPS (TTM)
0.59Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Harmonic's Q2 revenue held steady at $138M, matching last year, while YTD sales climbed 4% to $271M on Video segment strength from new customer wins and better market dynamics. Gross margins expanded to 53.5% from 52.9% y/y, fueled by favorable product mix, flipping operating income positive at $3.9M versus a $15.6M loss; diluted EPS swung to $0.03 from -$0.11, confirmed against 113K weighted shares with no anti-dilution flags. Operating cash flow surged to $72M YTD, yielding $66M free cash flow after $5.7M capex (derived), bolstering $124M cash position amid $113M debt under the 2028 Credit Agreement and $82M revolver availability. Share repurchases totaled $50M YTD under the $200M program. Yet Video's reliance on a few big clients exposes it to spending delays.
8-K
Harmonic Q2 revenue flat, Video surges
Harmonic Inc. reported Q2 2025 revenue of $138.0 million, flat year-over-year, with Video surging 11.6% to $51.1 million on record SaaS growth while Broadband dipped 6.5% to $86.9 million. Gross margins expanded to 53.5% GAAP and 54.1% non-GAAP, driving $3.9 million operating income versus last year's $15.6 million loss; cash swelled to $123.9 million after repurchasing $14.0 million in shares. Momentum builds in Video, but Broadband upgrades lag. Q3 guidance eyes $120-135 million revenue.
8-K
Annual meeting approvals passed
Harmonic Inc. held its 2025 Annual Meeting on June 12, electing all eight directors—Nimrod Ben-Natan, Patrick Gallagher, Deborah L. Clifford, Stephanie Copeland, Dana Crandall, Neel Dev, David Krall, and Dan Whalen—with strong majorities exceeding 84 million votes for each. Stockholders approved executive compensation advisory vote, amendments to the 2002 Employee Stock Purchase Plan adding 500,000 shares, the 2025 Equity Incentive Plan, and ratified Ernst & Young as auditors. All proposals passed decisively. This signals robust governance support.
10-Q
Q1 FY2025 results
Harmonic swung to profitability in Q1 FY2025 ended March 28, 2025, with revenue climbing 9% year-over-year to $133.1 million, fueled by 8% growth in Broadband to $84.9 million and 12% in Video to $48.3 million, while gross margin expanded to 59.0% from 51.7% on favorable product mixes. Operating income hit $10.1 million, up from a $9.5 million loss, thanks to no restructuring charges this year and lower expenses; diluted EPS landed at $0.05, matching basic on 117,021 weighted shares with no anti-dilution flags. Cash from operations surged to $83.6 million, lifting cash to $148.7 million, while free cash flow reached $81.7 million after $1.9 million capex; total debt stood at $128.1 million under the Credit Agreement with $82.0 million revolver availability and covenant compliance. The company repurchased $36.1 million in shares, leaving $163.9 million authorized. Yet competition in broadband and video markets remains fierce.
8-K
Harmonic Q1 beats expectations
Harmonic Inc. reported Q1 2025 revenue of $133.1 million, up 9% from $122.1 million last year, with broadband at $84.9 million and video at $48.3 million both surpassing guidance. Gross margins hit 59.4% non-GAAP, driving $21.1 million adjusted EBITDA and a cash pile of $148.7 million after repurchasing $36.1 million in shares. Strong execution amid macro fluidity. Tariffs pose a risk.
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