Harmonic Inc Stock Price, News & Analysis

Harmonic Inc. (NASDAQ: HLIT) reported third-quarter results for 2020, revealing a 18% decline in revenue year-over-year, totaling $94.9 million. Despite a strong performance in Cable Access and a rebound in the Video segment, revenue from Cable Access fell 27.7% to $40.3 million. Operating income showed a loss of $1.6 million, contrasting with a $22.5 million gain in the previous year. However, the company recorded cash reserves of $70.8 million, indicating liquidity. Expectations for Q4 include a projected revenue range of $120-$130 million.

Harmonic (NASDAQ: HLIT) will announce its third quarter 2020 financial results on October 26, 2020, after market close. A live webcast discussing the results will take place at 2:00 p.m. PT on the same day. Investors can access the webcast on the Harmonic Investor Relations website, with a replay available after 5:00 p.m. PT.

Harmonic, a leader in video delivery solutions, continues to enable media companies to provide high-quality streaming services globally.

Harmonic (NASDAQ: HLIT) unveiled new edge cloud extensions to its CableOS^® access platform, enabling cable operators to deploy compute resources in their IP networks. This innovation supports applications like 5G OpenRAN and flexible DOCSIS MAC. Developed in partnership with Intel, the new edge compute module enhances the CableOS platform's capabilities. Harmonic will showcase these advancements at the virtual SCTE•ISBE Cable-Tec Expo from Oct. 12-15, 2020. The company powers over 2 million cable modems globally, solidifying its position as a leader in cable access solutions.

Harmonic (NASDAQ: HLIT) has unveiled a new upstream gigabit technology for cable operators, compatible with current cable modems and set-top boxes. This innovation, part of Harmonic's CableOS core software and Ripple+ network edge platform, addresses the increasing demand for bandwidth, particularly during remote work and online learning. Comcast is the first to trial this technology. Key features include full-spectrum bandwidth delivery and seamless evolution from traditional setups to fiber-to-the-home systems, ensuring optimal performance even during power outages.

Harmonic (NASDAQ: HLIT) announced significant deployment milestones, now powering over 2 million cable modems worldwide with its CableOS virtualized access solution. This includes 1.4 million modems connected through distributed access architecture (DAA), supported by over 10,000 Remote-PHY devices. Harmonic has achieved 11 new customer deployments this year, including major wins in Finland, Canada, and Asia, bringing global deployments to 38. The company will showcase innovations at the upcoming SCTE•ISBE Cable-Tec Expo.

Harmonic (NASDAQ: HLIT) announced the IBC 2020 Edition of its Live Connection digital event, set to engage the global video streaming and broadcast community. The event includes webinars by industry experts, a virtual showroom showcasing innovations, and one-on-one meetings with Harmonic personnel. Starting Sept. 10, the virtual showroom will feature new technologies like the VOS360 Live Streaming Platform and cloud solutions. Attendees will gain insights on streaming innovations, highlighting advancements in live sports streaming, and optimizing OTT delivery with analytics.

Harmonic (NASDAQ: HLIT) announced today that CEO Patrick J. Harshman will join a fireside chat at the Jefferies Virtual Software Conference on September 15, 2020, at 3:00 PM PT. The management team will also attend two other conferences: the Jefferies Semiconductor Summit on September 1 and the Colliers Institutional Investor Conference on September 10. A replay of the fireside chat will be available on Harmonic's website for 90 days. Harmonic is a leader in virtualized cable access and video delivery solutions, enhancing video streaming and internet services worldwide.

Harmonic Inc. reported a Q2 2020 revenue of $74.0 million, a 12.8% decline year-over-year. Despite this, the company saw significant growth in its Cable Access revenue, which surged 100% to $26.5 million, and a 4.3% increase in SaaS and service revenue, totaling $31.8 million. The gross margin was 51.0%. Operating losses increased to $9.6 million GAAP, with an EPS loss of $0.16. Cash reserves improved by $19.6 million to $77.7 million. The company anticipates a profitable second half of the year.

Harmonic (NASDAQ: HLIT) announced Vodafone's rollout of its Gigabit internet service across Germany, utilizing Harmonic's CableOS virtualized access solution. Vodafone, Europe's largest cable operator, is increasing gigabit household access as part of its digital transformation. Harmonic's technology enables efficient deployment and scalability of gigabit networks. This adoption highlights Harmonic's position as a leader in cable broadband technology.