Harmonic Inc.
harmonicinc.comWhat Do They Do?
Provides broadband access solutions, including cOS software and related hardware, to cable and telco operators.
10-K for FY2025, filed Feb 24, 2026Our Broadband business provides broadband access solutions and related services, including our cOS software-based broadband access…View ↗
Software-Based Broadband Access Solution. As demand continues to rapidly grow for high-speed broadband services such as streaming, VOD…View ↗
We sell our products to a variety of cable and telco operators. Set forth below is a representative list of our significant end user and…View ↗
How Do They Make Money?
The largest stream is hardware and perpetual software licenses, for which customers generally owe payment when products ship or are delivered. Customers also buy professional services and SaaS and support; service work is performed for customers, while SaaS and support extend over contract terms.
10-K for FY2025, filed Feb 24, 2026Hardware and Software: Revenue from the sale of hardware and software products is recognized when control is transferred. For most of the…View ↗
Professional services: Revenues from professional services are generally recognized as the services are performed.View ↗
SaaS services: Revenue for SaaS service is recognized ratably over the contractual term as the customer simultaneously receives and…View ↗
Support and maintenance: Support and maintenance services are satisfied ratably over time as the customer simultaneously receives and…View ↗
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10-K for FY2025, filed Feb 24, 2026
FY2025 revenue by product or service ↗
$360.5M
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10-K for FY2025, filed Feb 24, 2026
$360.5M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product sales
Sold outright
10-K for FY2025, filed Feb 24, 2026 |
74%
FY2022: 68%
|
Product sales, FY2025
$267M Sources
|
Sold outright |
|
Professional services
Sold outright
10-K for FY2025, filed Feb 24, 2026 |
9.9%
FY2022: 8.0%
|
Professional services, FY2025
$35.7M Sources
|
Sold outright |
|
SaaS Service
Recurring
10-K for FY2025, filed Feb 24, 2026 |
16%
FY2022: 24%
|
SaaS Service, FY2025
$57.7M Sources
|
Recurring |
Who Are Their Customers?
Harmonic sells broadband solutions to cable and telco operators through its direct sales force and independent resellers and systems integrators. Resellers may import products and provide installation and support.
10-K for FY2025, filed Feb 24, 2026We sell our products to a variety of cable and telco operators. Set forth below is a representative list of our significant end user and…View ↗
In the United States and internationally, we sell our products through our own direct sales force, as well as through independent resellers…View ↗
Our direct sales force and resellers are supported by highly trained technical staff, which includes application engineers who work closely…View ↗
10-K for FY2025, filed Feb 24, 2026
One customer accounted for 54% of the Company’s total net revenues during the years ended December 31, 2025. Two customers accounted for…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $43.3M in FY2025, but brought in more cash than it spent: $96.9M of free cash flow.
10-K for FY2025, filed Feb 24, 2026
$14.1MView ↗
10-K for FY2025, filed Feb 24, 2026
−$43.3MView ↗
10-K for FY2025, filed Feb 24, 2026
$96.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2025, filed Aug 17, 2026
−$2.3MView ↗
- ▼ Now a loss
- vs $2.9M in Q2 FY2024
10-Q for Q2 FY2025, filed Aug 17, 2026
Open tableView ↗
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Aug 12, 2026
Raised full-year broadband revenue outlook
The company raised its full-year outlook to broadband revenue of $505 million–$525 million.
Sources
8-K, filed Aug 12, 2026
Company raises full-year outlook to reflect Broadband revenue of $505 million - $525 millionView ↗
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Jun 17, 2026
Completed sale of Video business
Closed June 16, 2026, for $145 million in cash, subject to customary adjustments.
Sources
8-K, filed Jun 17, 2026
On June 16, 2026, Harmonic Inc. (the “Company”) completed the previously disclosed sale of its Video Business (the “Business”) pursuant to…View ↗
Shrinking. Revenue fell 29% in 4 years, from $507.1M in FY2021 to $360.5M in FY2025, about 8% a year.
Video business exit
The older report described Video and Broadband segments; the latest report classifies Video as discontinued operations, leaving Broadband as the continuing business.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Feb 24, 2026We operate in two segments, Video and Broadband. During the third quarter of fiscal 2022, the Company’s Cable Access segment was renamed…View ↗
In accordance with the authoritative guidance for discontinued operations, the Company determined that the Disposition of the Video…View ↗
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