Harmonic Inc Stock Price, News & Analysis

Harmonic (NASDAQ: HLIT) has announced the reappointment of Dan Whalen to its board of directors, a position he previously held from 2021 to 2023. Nimrod Ben-Natan, president and CEO of Harmonic, welcomed Whalen back, citing his valuable contributions, extensive management experience, and deep knowledge of the broadband and video industries as assets for the company's strategic business and growth initiatives.

Whalen's recent roles include serving as president and CEO of ATX Networks and chief product officer at ADTRAN. He has also held leadership positions at Arris International, Cisco Systems, Comdisco, KPMG, and Bell Atlantic. Whalen expressed enthusiasm about helping Harmonic extend its market leadership in broadband access and video streaming solutions.

Harmonic (NASDAQ: HLIT) announced that Persidera, a leading Italian media service provider, has deployed the company's XOS Advanced Media Processor to enhance video delivery for its customers. The XOS processor features AI-powered video compression and quality optimization technology, enabling Persidera to deliver high-quality video at low bitrates. Persidera is using XOS to streamline video delivery from its new broadcast center, which has a hybrid SDI and baseband-over-IP infrastructure.

The XOS media processor supports both SDI and full IP, simplifying workflows and boosting operational efficiency. It also facilitates the deployment of value-added technologies like HDR. This collaboration positions Persidera as a major stakeholder in the European market and an innovation champion. Harmonic will showcase its latest innovations at IBC2024, Sept. 13-16 in Amsterdam.

RTL Deutschland has expanded its streaming service RTL+ by adding eight new free ad-supported streaming television (FAST) channels. This expansion is powered by Harmonic's VOS®360 Media SaaS, which simplifies media processing, including advanced playout, graphics insertion, OTT encoding, and distribution. The integration was handled by netorium, an application integrator from Wiesbaden.

The new channels are themed offerings based on RTL's successful content formats, allowing for targeted customer group reach. Andre Prahl, chief distribution officer at RTL Deutschland, highlighted the ease of launching multiple channels without high investment costs due to the software as a service model. Harmonic's VOS360 Media SaaS enables RTL to rapidly create and deliver FAST channels, enhancing viewer retention and attraction.

Harmonic (NASDAQ: HLIT) has unveiled DMS X, a new SaaS-based version of its Distribution Management System for the XOS advanced media processor. Running on the public cloud, DMS X enhances primary distribution capabilities, allowing broadcasters and content providers to securely distribute video content over various networks. Key features include:

- Remote management of advanced playout workflows
- Downloading of clips, graphics, and playlists
- Monitoring of edge devices
- Distribution of high-quality video content to affiliates
- Control of 10,000+ XOS media processors from a centralized interface
- Flexible, pay-as-you-use business model
- 24/7 monitoring by a dedicated DevOps team

DMS X offers centralized playout management for ad insertion, program localization, HTML graphic insertion, and scalable blackout event scheduling. The system supports all network types and content formats up to 4K HDR.

Harmonic (NASDAQ: HLIT) has announced its participation in two upcoming investor events. Nimrod Ben-Natan, President and CEO, will engage in a fireside chat at the Rosenblatt 4th Annual Virtual Technology Summit on August 19, 2024, at 11:00 a.m. PT / 2:00 p.m. ET. Both Ben-Natan and Walter Jankovic, Chief Financial Officer, will host virtual investor meetings throughout the day.

Additionally, the executives will attend the Jefferies Semiconductor, IT Hardware & Communications Technology Summit in Chicago, IL, on August 28, 2024, where they will conduct investor meetings. Interested parties are advised to contact their Rosenblatt or Jefferies representatives for more information about these events.

Harmonic (NASDAQ: HLIT) announced that Vivo Worldwide Productions is using its VOS®360 Media SaaS and ProView™ IRD solutions to power Caliente TV, a new sports channel in Mexico. The comprehensive playout and distribution solution simplifies media processing, playout, and primary distribution, enabling Caliente TV to launch within two weeks. Harmonic's cloud-based platform unifies the entire media processing chain, including playout, advanced graphics, transcoding, and SRT distribution to Mexican pay-TV operators.

The flexible VOS360 Media SaaS allows Caliente TV to pay only for what they use, while the ProView IRD supports high-quality video reception over the internet. This solution provides Caliente TV with agility, resiliency, video quality, security, and scalability for delivering top-notch live sports viewing experiences.

Harmonic (NASDAQ: HLIT) has been chosen by Telecentro, a leading telecommunications operator in Argentina, to modernize its broadband network using Harmonic's cOS™ broadband platform. The deployment includes:

1. cOS virtualized core software and edge devices
2. Pebble Remote PHY Device with Ripple modular DAA node
3. Raft adapter for existing nodes
4. cOS Central service for real-time data and network visibility

This solution will enable Telecentro to increase internet service capacity, enhance reliability, and reduce operational expenses. Harmonic's cOS platform currently powers broadband services to over 30 million homes worldwide for leading operators across multiple continents.

Harmonic Inc. (NASDAQ: HLIT) reported Q2 2024 results with revenue of $138.7 million, up 14% quarter-over-quarter and at the high end of guidance. The company reaffirmed its full-year revenue guidance for both Broadband and Video segments. Key highlights include:

- Broadband segment revenue: $92.9 million
- Video segment revenue: $45.8 million
- GAAP gross margin: 52.9%, Non-GAAP: 53.1%
- GAAP net loss: $12.5 million, Non-GAAP net income: $9.3 million
- Non-GAAP adjusted EBITDA: $16.1 million

Harmonic's cOS™ solution is now deployed with 118 customers, serving 30.1 million cable modems. The company is diversifying its Broadband customer base and has begun production shipments of its new high-density Pier optical line terminal for PON applications.

Harmonic (NASDAQ: HLIT) has appointed Neel Dev to its board of directors. Dev, currently the CFO and CRO of Congruex, brings extensive finance and operational leadership experience in the telecom and broadband industries. Previously, he served as EVP and CFO of Lumen Technologies and held finance leadership roles at Level 3 Communications, MCI, and MFS Communications.

Harmonic's CEO, Nimrod Ben-Natan, expressed enthusiasm about Dev's addition to the board, citing his expertise as valuable for driving profitable growth in Harmonic's broadband and video businesses globally. Dev holds a BA in Mathematics from the University of Delhi and an MBA from the University of Arizona, and is a CFA® charter holder.