#United States #San Jose #Harmonic Inc. #Q1 Results #Broadband Revenue

Harmonic Inc. Reports Strong Q1 2026 Results

Harmonic Inc., the leading provider of virtualized broadband and video delivery solutions, has revealed its unaudited financial results for the first quarter ending on April 3, 2026. The company achieved remarkable growth in its broadband revenue, showcasing a year-over-year increase of 43%, with the Rest-of-Market segment experiencing even more substantial growth of 78%.

Positive Outlook Amid Growth

Nimrod Ben-Natan, the CEO of Harmonic, expressed confidence in the company’s performance during the quarter. "Our first quarter represents a strong start to the year driven by 43% year-over-year growth in Broadband revenue," he noted. This buoyant performance prompted Harmonic to revise its full-year outlook upward, forecasting broadband revenue to reach between $475 million and $495 million.

Financial Highlights

In more detailed financial metrics:

• - Total net revenue for Q1 2026 stood at $171.8 million.
• - The company's operating profit was recorded at $17.7 million, while its net income per share was $0.07.

When focusing on the Broadband segment:

• - Its net revenue reached $121.7 million.
• - Operating profits in this segment were $20.4 million, translating to a net income per share of $0.10.

In terms of backlog and deferred revenue, Harmonic reported a robust $582.1 million, marking an 87% rise compared to the previous year.

Cash Flow and Share Repurchase

As of April 3, 2026, the company held $109 million in cash, down slightly from $124 million at the end of 2025. During this quarter, Harmonic repurchased about 4.2 million shares of its common stock for $43 million, highlighting its commitment to returning value to shareholders.

Business Developments

Harmonic’s ongoing success can also be attributed to its shifting dynamics within the market. The deployment of their cOS™ solution to 150 customers who serve 45.7 million cable modems has positioned the company for continued success, especially as it expands its presence among tier-1 accounts.

Additionally, Harmonic solidified its position in the market by securing new customer wins related to the DOCSIS 4.0 innovations, which have increased traction among international providers.

The Video Business Transition

The company is in the process of selling its Video business, as outlined in previously announced plans. The sale to Leone Media Inc. is expected to be finalized in the second quarter of 2026, with a purchase price of $145 million in cash.

Looking Ahead

As Harmonic transitions and grows its broadband segment, its focus remains on diversifying its client base and enhancing offerings. The upward revision of financial forecasts is a positive indicator of Harmonic's commitment to maintaining its leadership in the broadband and video delivery markets moving forward.

With these results, Harmonic Inc. not only reflects solid past performance but also lays a foundation for a promising future in a continually evolving industry. Stakeholders and investors alike can look forward to the upcoming conference call on May 11, 2026, where more insights into the company’s strategies and goals will be discussed.