Harmonic Broadband Revenue Soars 43% to $121.7M, Outlook Raised
Harmonic’s broadband revenue jumped 43% year over year to $121.7 million in Q1, lifting total net revenue to $171.8 million and GAAP operating profit to $17.7 million. The company raised its full-year broadband outlook to $475–495 million, recorded an $582.1 million backlog and repurchased $43 million of shares.
1. First Quarter Financial Results
Harmonic reported Q1 net revenue of $171.8 million, GAAP operating profit of $17.7 million and non-GAAP operating profit of $31.5 million, with GAAP EPS of $0.07 and non-GAAP EPS of $0.21. The company ended the quarter with $109.0 million in cash and repurchased 4.2 million shares for $43.0 million.
2. Broadband Segment Performance
Broadband revenue reached $121.7 million, up 43% year over year, with Rest-of-Market revenue rising 78%. The company deployed its cOS solution to 150 customers serving 45.7 million cable modems, secured DOCSIS 4.0 and fiber wins, and saw fiber products account for over 14% of Appliance and Integration revenue.
3. Backlog and Outlook
Backlog and deferred revenue climbed 87% to $582.1 million. Harmonic raised its full-year broadband revenue guidance to $475 million–$495 million based on robust bookings and record backlog.
4. Video Business Disposition
The sale of the Video business to Leone Media Inc. for $145 million is on track to close in the second quarter of 2026, pending regulatory approvals and customary closing conditions.