Harmonic Inc Stock Price, News & Analysis

Harmonic (NASDAQ: HLIT) reported significant advancements in its XOS software for ATSC 3.0 deployments, enhancing bandwidth efficiency and video quality for NEXTGEN TV in major U.S. cities like Boston, Miami, and San Francisco. The collaboration with Pearl TV, BitPath, and Heartland Video Systems accelerates the adoption of ATSC 3.0, positioning Harmonic as a leader in media processing solutions. XOS is now responsible for over 200,000 premium broadcast and streaming channels worldwide, showcasing its capabilities in simultaneous ATSC 1.0 and 3.0 service delivery. The company will highlight its innovations at the 2023 NAB Show in Las Vegas, further solidifying its market presence.

Harmonic and Mirriad have announced a partnership to develop a dynamic brand insertion solution that enhances revenue opportunities for media companies. This technology integrates Mirriad's virtual product placement capabilities with Harmonic's VOS360 SaaS, allowing broadcasters to maximize ad inventory without increasing the number of commercials. The partnership aims to improve campaign effectiveness, brand awareness, and purchasing intentions. Furthermore, Harmonic will showcase this innovative solution at the 2023 NAB Show in Las Vegas. Both companies highlight the potential for significant monetization without disrupting viewer experience.

Harmonic (NASDAQ: HLIT) announced advancements in its on-premises and SaaS solutions for video streaming at the 2023 NAB Show, showcasing innovations in live sports streaming, targeted advertising, and cloud playout. The company highlighted its VOS®360 SaaS platform and XOS media processor, enabling media companies to achieve high-quality live streaming, maximize ad revenue through new server-side ad insertion technology, and streamline cloud-native playout solutions. Harmonic's leadership will participate in discussions on live sports streaming trends at the NAB Show, scheduled for April 17. With increased global deployments, Harmonic aims to drive efficiencies and monetize video content effectively.

Harmonic (NASDAQ: HLIT) announced that VertiCast Media Group's CSport is using its VOS360 video SaaS platform for streaming Premier League matches across the Caribbean. This collaboration enhances the sports viewing experience in 26 countries with unmatched agility and scalability. VertiCast benefits from real-time scaling, multiCDN capabilities, and 24/7 monitoring from Harmonic's DevOps team to deliver high-quality streams. The CTO of VertiCast emphasized the rapid deployment of this service, aiming for an exceptional fan experience during major events like the FIFA World Cup Qatar 2022. Harmonic continues to expand its global customer base.

Harmonic (NASDAQ: HLIT) has been chosen by Charter Communications as a strategic technology partner to implement virtual CMTS technology for advanced broadband services. This deployment will utilize Harmonic's CableOS® Broadband Platform for enhanced efficiency and multi-gigabit network convergence. The partnership supports Charter's goals for network evolution and expansion, creating a sustainable foundation for leading connectivity services. With over 90 broadband service providers globally, Harmonic continues to demonstrate its leadership in virtualized broadband solutions, revolutionizing how media companies and service providers deliver high-quality video and internet services.

Harmonic Inc. (NASDAQ: HLIT) announced the resignation of CFO Sanjay Kalra, effective March 3, 2023, to explore other opportunities. The company has appointed Jeremy Rosenberg, senior vice president of business development, as interim CFO while a search for a permanent replacement is underway. CEO Patrick Harshman expressed gratitude for Kalra's contributions and confidence in Rosenberg's leadership during the transition. Harmonic continues to lead in virtualized broadband and video delivery solutions, enhancing media companies' capabilities in streaming and broadcasting.

Harmonic Inc. (NASDAQ: HLIT) reported a record quarterly revenue of $164.3 million for Q4 2022, marking a 5.5% year-over-year increase. Significant growth was seen in the Broadband segment, which grew 38% to $96.0 million, and Video SaaS revenue surged 51% year-over-year. However, Video segment revenue declined 20.7% to $68.3 million. Gross margins improved, with GAAP gross margin at 52.1%. Operating income rose to $16.5 million GAAP and $23.7 million non-GAAP. Despite a cash decrease to $89.6 million, the backlog remained strong at $457.1 million.

Harmonic Inc. (NASDAQ: HLIT) announced it will release its fourth quarter and full year 2022 financial results on January 30, 2023, after market close. A live webcast to discuss the results will take place at 2:00 p.m. PT on the same day. Participants can join via telephone after registering in advance. A replay of the webcast will be available post-event. Harmonic is recognized as a leader in virtualized broadband and video delivery solutions, enabling media companies and service providers to deliver high-quality streaming and broadcasting services.