Harmonic Announces Fourth Quarter and Fiscal 2025 Results

About this update from Harmonic Inc.

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(Nasdaq: HLIT) today announced its unaudited results for the fourth quarter and fiscal year ended December 31, 2025.","length":178,"tagName":"p"},{"type":"image","alt":"Harmonic logo (PRNewsfoto/Harmonic Inc.)","displaySize":"","headline":null,"caption":"Harmonic logo (PRNewsfoto/Harmonic Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":136,"url":"https://media.zenfs.com/en/prnewswire.com/71df74c2b68e71978a600865d61520bf"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/eZX1hp8rVOhn6poD5OgbTA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI0MDtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/71df74c2b68e71978a600865d61520bf","width":400,"height":136}},"href":"https://mma.prnewswire.com/media/455698/HARMONIC_Inc_logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""We ended the year with extremely strong quarterly bookings across our Broadband business," said Nimrod Ben-Natan, president and chief executive officer of Harmonic. "These bookings drove a 3.5 book-to-bill for the quarter and a substantial year-over-year increase in backlog, which significantly improves our visibility for 2026. We expect this momentum, combined with Unified DOCSIS 4.0 ramps, large customer deployment plans and Rest-of-World accelerated adoption, will contribute to strong Broadband revenue growth this year. Furthermore, the Video business, presented as discontinued operations, exceeded both revenue and profitability expectations for the quarter. The planned sale of this business remains on track to close in the second quarter, which will further support our capital allocation priorities."","length":846,"tagName":"p"},{"type":"text","content":" Financial and Business Highlights ","length":33,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"12","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;","val":[{"type":"text","content":" Total Company Financial Results ","length":31,"tagName":"p","attribs":{}}]}]},{"val":[{"colspan":"1","rowspan":"1","style":"PADDING-RIGHT:0.33em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:RIGHT;","val":[{"type":"text","content":" ","length":0,"tagName":"p","attribs":{}}]},{"colspan":"5","rowspan":"1","style":"PADDING-RIGHT:0.17em;PADDING-LEFT:0.17em;VERTICAL-ALIGN:BOTTOM;TEXT-ALIGN:CENTER;","val":[{"type":"text","content":" GAAP 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","length":73,"tagName":"p","attribs":{}}]}]}],"length":535},{"type":"text","content":" Conference Call Information ","length":27,"tagName":"p"},{"type":"text","content":"Harmonic will host a conference call to discuss its financial results at 2:00 p.m. PT (5:00 p.m. ET) on Thursday, February 19, 2026. The live webcast will be available on the Harmonic Investor Relations website at http://investor.harmonicinc.com. To participate via telephone, please register in advance using this link, https://register-conf.media-server.com/register/BI1e7644dc1c1b4189836e0b9cc656d1e3. A replay will be available after 5:00 p.m. PT on the same website.","length":471,"tagName":"p"},{"type":"text","content":" About Harmonic Inc. ","length":19,"tagName":"p"},{"type":"text","content":"Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized broadband and video delivery solutions, enables media companies and service providers to deliver ultra-high-quality video streaming and broadcast services to consumers globally. The company revolutionized broadband networking via the industry's first virtualized broadband solution, enabling operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. Whether simplifying OTT video delivery via innovative cloud and software platforms, or powering the delivery of gigabit internet services, Harmonic is changing the way media companies and service providers monetize live and on-demand content on every screen. More information is available at www.harmonicinc.com.","length":772,"tagName":"p"},{"type":"text","content":" Legal Notice Regarding Forward-Looking Statements ","length":49,"tagName":"p"},{"type":"text","content":" This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements related to the timing of the pending sale of our Video business and anticipated benefits of the proposed transaction; Broadband revenue growth from anticipated customer purchases and deployments of our Unified DOCSIS 4.0 and other solutions; and our expectations regarding: net revenue, gross margins, operating expenses, operating income (loss), Adjusted EBITDA, tax expense and tax rate, and net income (loss) per diluted share. Our expectations regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, but are not limited to, in no particular order, the following: the possibility that the pending sale of the Video business does not close due to regulatory approvals not being obtained or other closing conditions not being fulfilled; the pending transaction encounters unanticipated delays or is postponed or cancelled due to a material adverse event or change; anticipated benefits for Harmonic as a result of the pending transaction do not fully materialize; customer concentration and consolidation; loss of one or more key customers; delays or decreases in capital spending in the cable or telco industries; the possibility that our products will not generate sales that are commensurate with our expectations or that our cost of revenue or operating expenses may exceed our expectations; the market and technology trends underlying our Broadband business will not continue to develop in their current direction or pace; the impact of tariffs and general economic conditions on our sales and operations; the mix of products and services sold in various geographies and the effect it has on gross margins; our ability to develop new and enhanced products in a timely manner and market acceptance of our new or existing products; risks associated with our international operations; exchange rate fluctuations of the currencies in which we conduct business; risks associated with our cOS™ product solutions; dependence on various broadband industry trends; inventory management; the lack of timely availability or the impact of increases in the prices of parts or raw materials necessary to produce our products; the effect of competition, on both revenue and gross margins; difficulties associated with rapid technological changes in our markets; risks associated with unpredictable sales cycles; our dependence on contract manufacturers and sole or limited source suppliers; stock repurchases may not be conducted in the timeframe or in the manner we expect, or at all; and the impact on our business of natural disasters. In some cases, you can identify forward-looking statements by terminology such as, "may," "will," "should," "expects," "plans," "anticipates," "could," "believes," "intends," "estimates," "predicts," "potential," or "continue" or the negative of these terms or other comparable terminology. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Harmonic's filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K for the year ended December 31, 2024, our most recent Quarterly Report on Form 10-Q and our Current Reports on Form 8-K. The forward-looking statements in this press release are based on information available to the Company as of the date hereof, and Harmonic disclaims any obligation to update any forward-looking statements .","length":3930,"tagName":"p"},{"type":"text","content":" Use of Non-GAAP Financial Measures ","length":34,"tagName":"p"},{"type":"text","content":"The Company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP" or referred to herein as "reported"). However, management believes that certain Non-GAAP financial measures provide management and other users with additional meaningful financial information that should be considered when assessing our ongoing performance. Our management regularly uses our supplemental Non-GAAP financial measures internally to understand, manage and evaluate our business, establish operating budgets, set internal measurement targets and make operating decisions.","length":635,"tagName":"p"},{"type":"text","content":"These Non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from Non-GAAP measures used by other companies. In addition, these Non-GAAP measures are not based on any comprehensive set of accounting rules or principles. The Company believes that Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Harmonic's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Harmonic's results of operations in conjunction with the corresponding GAAP measures.","length":677,"tagName":"p"},{"type":"text","content":"The Company believes that the presentation of Non-GAAP measures, when shown in conjunction with the corresponding GAAP measures, provide useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations. Non-GAA...

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