Harmonic Inc Stock Price, News & Analysis

Harmonic (NASDAQ: HLIT) will participate in upcoming virtual investor conferences. The fireside chat features Sanjay Kalra and Jeremy Rosenberg on May 20, 2021, at 11:15 AM PT. Additionally, they will engage at the J.P. Morgan Conference on May 25, 2021, at 12:40 PM PT, and the Stifel Conference on June 8, 2021, at 11:00 AM PT. Live webcasts will be accessible on Harmonic's investor relations site, with archived versions available for 90 days.

Harmonic Inc. (NASDAQ: HLIT) reported exceptional Q1 2021 results with revenues of $111.6 million, up 42.3% year-over-year, and a net loss of $6.1 million. Both the Cable Access segment (up 72%) and Video segment (up 29%) showcased strong growth. Gross margins improved to 49.4% (GAAP). The company ended the quarter with a substantial backlog of $274.3 million and a cash position of $100.8 million, reflecting a $29.1 million increase from last year. Positive momentum is expected to continue, supported by strong bookings and technology advancements in their services.

Harmonic (NASDAQ: HLIT) announced that Otelco, a U.S. cable operator, is providing gigabit internet speeds to rural subscribers using Harmonic's CableOS Cloud-Native Core Platform. This upgrade enables tenfold increases in broadband speeds while paving the way for future fiber-to-the-home (FTTH) services. The deployment has improved operational efficiency and reduced costs for Otelco. Harmonic's technology now serves over 2.6 million cable modems worldwide, highlighting its market leadership in virtualized cable access solutions.

Harmonic (NASDAQ: HLIT) announced that Canadian cable operator Mascon is enhancing its broadband services using Harmonic's CableOS Cloud-Native Core Platform. This partnership allows Mascon to address broadband capacity efficiently, improving internet speeds through advanced technologies like vCMTS and R-PHY. The deployment of CableOS in a centralized architecture reduces operational costs significantly. Clearcable facilitated the integration of Harmonic's platform, which supports scalable broadband solutions and operational efficiencies for Mascon, benefiting from lower power consumption and added flexibility.

Harmonic (NASDAQ: HLIT) will release its Q1 2021 financial results on May 3, 2021, after market close. A live webcast is scheduled for 2:00 p.m. PT the same day, allowing investors to discuss the results. The webcast can be accessed via the Harmonic Investor Relations website. An audio version will also be available by phone. A replay will be accessible post-event on the website and via designated phone lines.

Harmonic leads in virtualized cable access and video delivery solutions, enhancing media companies' and service providers' capabilities.

Harmonic (NASDAQ: HLIT) announced that Mowies, a LATAM-based on-demand media platform, is optimizing its workflow using Harmonic's VOS360 cloud streaming service. This solution allows Mowies to enhance its offerings for creators of various content types while adopting a pay-as-you-grow model. The VOS360 enables better bandwidth optimization and an improved viewing experience. Additionally, Mowies can reduce storage and CDN requirements by up to 50% with Harmonic's EyeQ encoding technology, ensuring lower streaming costs and a faster time-to-market.

Harmonic (NASDAQ: HLIT) announced a cooperation agreement with Scopia Capital Management on April 12, 2021. The agreement allows Scopia to appoint two directors to Harmonic's board within the year and supports the company's nominees for the upcoming annual meeting. CEO Patrick Harshman expressed optimism about growth in the Cable Access and Video segments, highlighting the innovative solutions Harmonic brings to the market. The complete agreement will be detailed in a Current Report on Form 8-K.

Harmonic (NASDAQ: HLIT) announced participation in the 42nd Annual Raymond James Virtual Institutional Investors Conference on March 2, 2021, at 9:30 a.m. PT. Chief Financial Officer Sanjay Kalra and Senior Vice President Jeremy Rosenberg will engage in a fireside chat, which will be available via live audio webcast on Harmonic's investor website. An archived version will be accessible for 90 days post-event. Harmonic is a leader in virtualized cable access and video delivery solutions, enabling high-quality video streaming and gigabit internet services.