Harmonic Inc. reported significant financial results for the second quarter of 2026, with total net revenue reaching $133.5 million, a 54% increase from $86.9 million in the same period last year. The growth was primarily driven by a substantial rise in the Appliance and Integration segment, which generated $117 million, up 61% year-over-year. The SaaS and service segment also saw a 15% increase, contributing $16.4 million. For the first half of 2026, total revenue was $255.2 million, a 49% increase compared to $171.8 million in the first half of 2025.

Despite the revenue growth, Harmonic reported a net loss of $2.3 million for the quarter, compared to a net income of $2.9 million in the prior year. The loss was attributed to a $19.4 million loss from discontinued operations related to the sale of its Video business, which was completed on June 16, 2026. The company recognized a loss on disposal of $6.3 million associated with this divestiture. The adjusted income from continuing operations was $17.1 million, a significant improvement from a loss of $857,000 in the same quarter last year.

In terms of operational metrics, Harmonic's cash and cash equivalents increased to $231.9 million as of July 3, 2026, up from $124.1 million at the end of 2025. The company also reported a decrease in total liabilities to $272.3 million from $335.2 million, reflecting a reduction in current liabilities following the divestiture. The company’s employee headcount remained stable, with no significant changes reported in staffing levels.

Strategically, the sale of the Video business has allowed Harmonic to focus exclusively on its Broadband segment, which is expected to drive future growth. The company plans to utilize the proceeds from the sale, amounting to $137.9 million, to support strategic initiatives and its ongoing share repurchase program, which has approximately $78 million remaining under its authorization. Looking ahead, Harmonic anticipates continued growth in its broadband solutions, driven by increasing adoption of its software-based technologies and a favorable market environment for broadband services.

About HARMONIC INC

Harmonic Inc. provides broadband access solutions and high-performance video delivery software, serving global service providers, broadcasters, and media companies. Its core offerings include software-based broadband access platforms and SaaS video processing solutions, supporting high-speed internet, streaming, and broadcast workflows. The company focuses on enabling scalable, flexible, and cost-effective infrastructure for digital video and data services in North America, EMEA, and APAC markets.

This description was generated via AI from an annual report. Updated about 1 year ago.

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