With Harmonic's Support, Globo Ensures High Video Quality and Low Latency for Brazilian Championship MatchesSAN JOSE, Calif., Aug. 12, 2025 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced that Globoplay, Brazil's largest video streaming platform owned by Globo, is leveraging the company's technology for low-latency live streaming during the 2025 Campeonato Brasileiro Série A — Brazil's premier football championship. Harmonic's VOS®360 Media SaaS enables the streaming of premier channels via Globopla ...

Core Insights - Harmonic (HLIT) reported quarterly earnings of $0.09 per share, exceeding the Zacks Consensus Estimate of $0.03 per share, and showing an increase from $0.08 per share a year ago, resulting in an earnings surprise of +200.00% [1] - The company achieved revenues of $138.03 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 6.01%, although this represents a slight decline from year-ago revenues of $138.74 million [2] - Harmonic has consistently surpassed consensus EPS estimates over the last four quarters, indicating strong performance in earnings [2] Earnings Outlook - The future performance of Harmonic's stock will largely depend on management's commentary during the earnings call and the sustainability of the stock's immediate price movement based on the recently released numbers [3][4] - The current consensus EPS estimate for the upcoming quarter is $0.14 on revenues of $153.77 million, and for the current fiscal year, it is $0.53 on revenues of $604.17 million [7] Industry Context - The Communication - Components industry, to which Harmonic belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - The performance of Harmonic's stock may also be influenced by the overall industry outlook, as empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]

Financial Data and Key Metrics Changes - Total revenue for the second quarter was $138 million, exceeding guidance, with a year-over-year increase in EPS from $0.08 to $0.09 [19][5] - Free cash flow was negative at $15.5 million, but cash balance increased to $123.9 million, up $78 million year-over-year [19][24] - Total company gross margin was 54.1%, up 100 basis points year-over-year, while broadband gross margin was 46.5%, down 110 basis points [24][25] Business Line Data and Key Metrics Changes - Broadband revenue was $86.9 million with adjusted EBITDA of $10.8 million, reflecting industry headwinds [20] - Video segment revenue was $51.1 million, up 11.6% year-over-year, with SaaS streaming revenue reaching a record $15.4 million [20][16] - The company added four new logos in broadband, including a significant Tier two North American operator [8][9] Market Data and Key Metrics Changes - Rest of world revenue grew significantly year-over-year, contributing to a more diversified revenue stream [20][9] - The company reported a strong backlog and deferred revenue of $504.5 million, indicating consistent customer demand [5][27] Company Strategy and Development Direction - The company is focused on accelerating the adoption of next-generation virtualized broadband networks and enhancing competitive positioning [7][14] - The recently passed OBBBA is expected to incentivize investments in broadband networks over the next several years [8] - The company aims to leverage its unified DOCSIS 4.0 technology and fiber solutions to drive future growth [12][14] Management's Comments on Operating Environment and Future Outlook - Management expects revenue growth to resume in 2026, supported by unified DOCSIS 4.0 adoption and customer ramp readiness [6][28] - The competitive environment is becoming more challenging, prompting customers to prioritize network upgrades [42] - Management remains cautious about the near-term outlook due to macroeconomic factors and potential tariff impacts [31][32] Other Important Information - The company repurchased $14 million of common shares in the quarter, totaling $50.1 million under the current program [5][21] - The company has a strong balance sheet with ample liquidity, including $123.9 million in cash and $82 million available under its credit facility [23][24] Q&A Session Summary Question: Strength from rest of world customers - Management indicated that the rest of world revenue is significantly stronger than 50% of total revenue, with Comcast representing 39% of total revenue [36] Question: Outlook for 2026 growth - Management sees positive indicators for 2026, with expectations of tailwinds from unified DOCSIS 4.0 and customer ramp readiness [39][41] Question: DOCSIS 4.0 readiness and product platform progress - Management reported good progress in DOCSIS 4.0 readiness, with early shipments planned for the fourth quarter [48][50] Question: Impact of Charter's CapEx cuts - Management noted that Charter's network evolution is still a priority, despite the CapEx cuts, indicating ongoing importance for service delivery [51] Question: Strong bookings and cautious guidance - Management confirmed strong bookings across multiple customers, including rest of world customers, but remains cautious about guidance due to uncertainties [58][60] Question: Tariff situation and potential impacts - Management stated that the tariff impact for Q3 is expected to be less than $1 million, with ongoing efforts to optimize the supply chain [68][70] Question: Q4 expectations and seasonality - Management anticipates some sequential growth from Q3 to Q4 but is not providing specific guidance due to uncertainties [76][78]

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $138 million, exceeding guidance, with EPS rising from $0.08 to $0.09 year over year [19][32] - Free cash flow was negative at $15.5 million, but cash balance increased to $123.9 million, up $78 million from the same quarter last year [19][22] - Total company gross margin was 54.1%, up 100 basis points year over year, while broadband gross margin was 46.5%, down 110 basis points [23][24] Business Line Data and Key Metrics Changes - Broadband revenue was $86.9 million with adjusted EBITDA of $10.8 million, reflecting industry headwinds [20][32] - Video segment revenue was $51.1 million, up 11.6% year over year, with SaaS streaming revenue reaching a record $15.4 million [16][20] - The company repurchased $14 million of common shares in Q2, totaling $50.1 million under the current program [5][22] Market Data and Key Metrics Changes - Rest of world revenue grew significantly year over year, contributing to improved diversification [20][32] - The company ended Q2 with a backlog and deferred revenue of $504.5 million, indicating strong customer demand [5][26] - The company noted a strong order book with Q2 bookings at $158.4 million and a book-to-bill ratio of 1.1 [24][25] Company Strategy and Development Direction - The company is focused on accelerating the adoption of next-generation virtualized broadband networks and enhancing competitive positioning [6][10] - The recently passed OBBBA is expected to incentivize investments in broadband networks over the next several years [7][23] - The company aims to continue investing in inventory to support expected growth in broadband, particularly in the rest of world markets [21][22] Management Comments on Operating Environment and Future Outlook - Management expects revenue growth to resume in 2026, supported by Unified DOCSIS 4.0 adoption and customer ramp readiness [6][19] - The tariff situation remains fluid, but the actual impact in Q2 was less than anticipated, with less than $1 million affecting broadband [27][28] - Management remains cautious about Q3 guidance due to macroeconomic factors but anticipates some sequential growth from Q3 to Q4 [30][75] Other Important Information - The company is seeing strong momentum in both broadband and video segments, with ongoing innovation and customer expansion [12][14] - The company highlighted the importance of network evolution for customers to deliver enhanced services [40][49] Q&A Session Summary Question: Strength from rest of world customers - Management indicated that rest of world revenue is significantly stronger than 50% of total revenue, reflecting improved diversification [34][35] Question: Optimism for 2026 growth - Management noted that headwinds are turning into tailwinds, with positive indicators for 2026 growth, but refrained from providing specific forecasts [36][39] Question: DOCSIS 4.0 readiness - Management confirmed good progress in DOCSIS 4.0 readiness, with early shipments planned for the fourth quarter [44][46] Question: Impact of Charter's CapEx cuts - Management acknowledged Charter's CapEx cuts but emphasized the importance of network evolution for service delivery [48][49] Question: Strong bookings and cautious guidance - Management explained that strong bookings are a mix across various customers, including rest of world, but guidance remains cautious due to uncertainties [52][75] Question: Tariff impacts and manufacturing flexibility - Management stated that current tariff impacts are minimal, with ongoing evaluations of manufacturing options to mitigate future risks [66][68]

Q2 2025 Financial Performance - Total revenue reached $138 million, a slight decrease of 0.5% year-over-year[5,29] - Broadband revenue was $86.9 million, down 6.5% from the previous year[5,29] - Video revenue increased to $51.1 million, up 11.6% year-over-year[5,29] - SaaS revenue within the Video segment hit a record $15.4 million, a 10.1% increase from the prior year[26,29] - The company's cash balance stands at $124 million, a significant increase from $46 million in Q2 2024[10,29] - Share repurchases totaled $14 million in Q2 2025, bringing the year-to-date total to $50 million[10] Q3 2025 Financial Guidance - The company anticipates consolidated net revenue to be in the range of $120 million to $135 million[36] - Broadband revenue is projected to be between $75 million and $85 million, while Video revenue is expected to be $45 million to $50 million[36] - The company expects earnings per share (EPS) to be between $0.02 and $0.07[36] Strategic Outlook - The company anticipates a revenue growth rebound in 2026, driven by Unified 4.0, customer ramps, and recent wins[10,38] - The company has a strong liquidity position, with $124 million in cash and an $82 million undrawn credit facility[31]

Exhibit 99.1 FOR IMMEDIATE RELEASE Harmonic Announces Second Quarter 2025 Results Surpassed top end of revenue and profitability guidance for both Broadband and Video SAN JOSE, California, July 28, 2025 - Harmonic Inc. (NASDAQ: HLIT) today announced its unaudited results for the second quarter of 2025. "Our team delivered strong second quarter results with revenue and profitability in both our Video and Broadband businesses exceeding the high end of our guidance," said Nimrod Ben-Natan, president and chief ...

Core Insights - Harmonic Inc. reported strong second quarter results for 2025, with revenue and profitability in both Video and Broadband segments exceeding the high end of their guidance [2][4] - The company is experiencing momentum in the Video segment and anticipates moderate growth in Broadband, with positive indicators for future performance [2][4] Financial Performance - Q2 2025 net revenue was $138.0 million, slightly down from $138.7 million in Q2 2024 [7] - Broadband segment revenue decreased to $86.9 million from $92.9 million year-over-year, while Video segment revenue increased to $51.1 million from $45.8 million [7] - GAAP net income for Q2 2025 was $2.9 million, compared to a net loss of $12.5 million in the prior year [7] - Non-GAAP net income was $10.3 million, up from $9.3 million in Q2 2024 [7] - Adjusted EBITDA for the quarter was $17.0 million, compared to $16.1 million in the prior year [7] Business Highlights - The company reported bookings of $158.4 million for the quarter, significantly higher than $72.4 million in Q2 2024 [7] - Backlog and deferred revenue as of the quarter end stood at $504.5 million [7] - Cash and cash equivalents at the end of Q2 2025 were $123.9 million, compared to $45.9 million in the prior year [7] - Harmonic repurchased approximately 1.6 million shares of common stock for $14.0 million [7] - The company commercially deployed its cOSTM solution with 136 customers, serving 35.3 million cable modems [7] Future Outlook - For Q3 2025, the company expects net revenue in the range of $120 million to $135 million, with gross margins projected at 52.5% to 53.8% [6] - The company anticipates that the ongoing development of Unified DOCSIS 4.0 will provide tailwinds for growth in 2026 [2][4]

DALLAS, July 21, 2025 /PRNewswire/ -- Civitas Capital Group is pleased to announce the appointment of Mine Ekim as Managing Director, Legal & Head of Investor Experience. With over 15 years of international legal and compliance expertise, Ms. Ekim will lead the firm's legal and regulatory strategy while driving enhancements in investor engagement and operational excellence. "We are delighted to welcome Mine to the Civitas leadership team. She is a true rock star in the EB-5 industry." Post this Mine Ekim ...

Core Insights - Harmonic is showcasing innovative solutions at IBC2025 aimed at enhancing video streaming and broadcast delivery, focusing on hybrid cloud and on-premises solutions, AI-driven workflows, and advancements in live sports streaming [1][2][8] Group 1: Innovations and Solutions - The company emphasizes hybrid cloud and on-premises streaming solutions to improve viewer engagement and operational efficiency [1] - AI-driven workflows and innovative ad insertion technologies are highlighted as key components to unlock new monetization opportunities [1][5] - Harmonic's Software Spectrum X media server offers double the channel density for UHD workflows, enhancing video resolution and quality of experience (QoE) [5] Group 2: Revenue Maximization - Harmonic's advancements allow broadcasters and service providers to maximize revenue streams through innovative ad solutions and programmatic ad buying efficiencies [3][5] - The VOS360 Ad SaaS automatically inserts ad breaks in VOD assets and live content, facilitating monetization without manual operations [5] Group 3: Live Sports Streaming - The company is innovating live sports streaming solutions that enhance monetization, protect content against piracy, and improve fan engagement with low latency and advanced multiview capabilities [5] - AI-powered features such as speech-to-text, real-time highlight creation, and automated translation are set to elevate viewer experiences [5][12] Group 4: Collaboration and Partnerships - Harmonic is collaborating with industry leaders to drive innovation in video streaming and broadcast delivery, integrating solutions with major system integrators and managed services providers [4][12] - The partnership with VisualOn aims to enhance viewer engagement through immersive multiview capabilities [12]

Core Viewpoint - Harmonic is set to release its second quarter 2025 financial results on July 28, 2025, after market close, followed by a live webcast to discuss the results [1]. Group 1: Financial Results Announcement - The financial results for the second quarter of 2025 will be announced after market close on July 28, 2025 [1]. - A live webcast to discuss the results will take place at 2:00 p.m. PT on the same day [1]. Group 2: Participation Details - Telephone participants must register in advance to receive a confirmation email with details on joining the audio version of the webcast [2]. - The live webcast will be accessible via Harmonic's Investor Relations website [2]. - Participants are advised to join the conference call or sign on to the webcast at least 15 minutes prior to the start [2]. Group 3: Replay Information - A replay of the live event will be available on the Investor Relations website after 5:00 p.m. PT [3]. Group 4: Company Overview - Harmonic is a leader in virtualized broadband and video delivery solutions, enabling media companies and service providers to deliver high-quality video streaming and broadcast services globally [4]. - The company has innovated broadband networking with the first virtualized broadband solution, allowing flexible deployment of gigabit internet services [4]. - Harmonic's solutions facilitate the monetization of live and on-demand content across various screens [4].