Revenue Performance - Total net revenue for 2024 was $678.7 million, an increase of $70.8 million or 12% compared to 2023[219] - Appliance and integration revenue increased by $71.5 million to $507.4 million, primarily driven by a $99.8 million increase in Broadband segment revenue[219] - SaaS and service revenue decreased by $0.7 million to $171.3 million, mainly due to a $6.6 million decrease in Video segment support services[220] - Americas net revenue increased by $109.6 million to $557.3 million, driven by a $115.1 million increase in Broadband segment revenue[221] - EMEA net revenue decreased by $35.1 million to $92.6 million, primarily due to lower sales in both Video and Broadband segments[222] - APAC net revenue decreased by $3.6 million to $28.9 million, primarily due to a decline in Video product sales[223] - Broadband segment revenue increased by $99.7 million, or 26%, in 2024, while Video segment revenue decreased by $28.9 million, or 13%[236][238] - Total net revenue for 2024 reached $678.722 million, a 11.6% increase from $607.907 million in 2023[288] Profitability and Expenses - Gross profit for 2024 was $365.9 million, representing a gross margin of 53.9%, an improvement of 250 basis points from 2023[224][225] - Net income for 2024 was $39.217 million, a significant decrease of 53.3% compared to $83.994 million in 2023[291] - Total gross profit increased to $365.921 million in 2024, up from $312.545 million in 2023, reflecting a gross margin improvement[288] - Operating expenses rose to $302.785 million in 2024, compared to $290.373 million in 2023, primarily due to increased research and development costs[288] - Selling, general and administrative expenses decreased by $10.2 million in 2024, representing a 6% reduction compared to 2023, primarily due to headcount reductions and non-recurring advisory fees[228] - Research and development expenses decreased by $5.3 million to $121.0 million, accounting for 18% of total net revenue[226] Cash Flow and Financial Position - Net cash provided by operating activities surged by $54.9 million to $61.9 million in 2024, compared to $7.1 million in 2023[250] - Cash and cash equivalents at the end of 2024 were $101.789 million, an increase from $84.269 million at the end of 2023[297] - The company's total assets increased to $796.5 million in 2024 from $768.2 million in 2023, reflecting a growth in cash and cash equivalents to $101.5 million[286] - The company’s total current liabilities decreased to $167.6 million in 2024 from $272.4 million in 2023, showing a significant reduction in short-term obligations[286] - The company’s additional paid-in capital increased to $2.43 billion in 2024 from $2.41 billion in 2023, reflecting ongoing investment and capital raising efforts[286] Debt and Financing - As of December 31, 2024, the company had $128.1 million in outstanding indebtedness, with $75.0 million from the Revolving Facility and $39.5 million from the Term Facility[242] - The company entered into a Master Receivables Purchase Agreement allowing the sale of up to $30,000,000 in eligible billed receivables, with no receivables sold under this agreement as of December 31, 2024[362] - The carrying amount of long-term debt as of December 31, 2024, was $114,278,000, with the fair value approximating this amount due to variable interest rates[358] - The company had borrowings of $75.0 million under the Revolving Facility and $39.5 million under the Term Facility as of December 31, 2024[385] Taxation - The provision for income taxes was $18.7 million in 2024, a significant increase from a benefit of $(64.9) million in 2023, due to the prior period release of a valuation allowance[235] - The effective tax rate for 2024 was 32%, a significant change from the effective tax rate of (339%) in 2023[406] Shareholder Activities - The company authorized a share repurchase program of up to $200 million, effective through February 2028[243] - The company repurchased approximately 2.4 million shares of common stock for an aggregate amount of $30 million during the year ended December 31, 2024[404] - The Company granted 77,571 PRSUs and 329,166 MRSUs during the fiscal year 2024[389] Impairments and Charges - The company recorded an impairment charge of $1.8 million related to internally developed software and lease-related impairment charges totaling $10.9 million in 2024[230] - The Company recorded a total restructuring cost of $16,000,000 in 2024, aimed at improving efficiencies in the Video business[368] - The Company recorded total lease-related impairment and other charges of $10.9 million in 2024, including $3.9 million in right-of-use asset impairments[350] Inventory and Receivables - The company’s net inventory totaled $64 million as of December 31, 2024, with a provision for excess and obsolete inventory being a critical audit matter due to management's estimates[273] - As of December 31, 2024, accounts receivable totaled $180,541,000, an increase from $144,731,000 in 2023, with a net total of $178,013,000 after allowances[361] - The total inventory decreased from $83,982,000 in 2023 to $64,004,000 in 2024, with finished goods dropping from $43,987,000 to $37,634,000[363] Other Financial Metrics - The company recorded a remeasurement gain of approximately $2.4 million during the year ended December 31, 2024, from foreign currency exposure[330] - The total allowance for expected credit losses decreased from $3,200,000 in 2023 to $2,528,000 in 2024, reflecting improved collectability[362] - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the independent auditor's opinion[277]

LOS ANGELES, Feb. 13, 2025 /PRNewswire/ -- The DJS Law Group announces that it is investigating claims on behalf of investors of Harmonic Inc. ("Harmonic" or "the Company") (NASDAQ: HLIT) for violations of the securities laws. INVESTIGATION DETAILS: The investigation focuses on whether the Company issued misleading statements and/or failed to disclose information pertinent to investors. Shares of Harmonic Inc. fell sharply in after-hours trading on February 10, 2025, after the company lowered its revenue ou ...

Core Insights - Harmonic Inc. has successfully integrated its VOS 360 Media SaaS and VOS360 Ad SaaS with Akamai Technologies' cloud computing platform, enhancing media delivery solutions for the media and entertainment sectors [1][4]. Group 1: Partnership and Solutions - The collaboration with Akamai allows Harmonic to provide greater efficiency in deploying broadcast, playout, and video streaming workflows [1]. - VOS360 Media SaaS simplifies media delivery for premium video streaming and broadcasting, optimizing workflows and reducing operational costs for media companies [2]. - The VOS360 Ad SaaS solution enhances ad targeting and revenue generation through personalized ad delivery, benefiting broadcasters and content providers [3]. Group 2: Market Position and Growth Potential - This partnership strengthens Harmonic's presence in the cloud-based media solutions market, expanding its customer base and enhancing credibility [5]. - The advancements from this collaboration are expected to generate increased demand for Harmonic's solutions, leading to higher revenues and improved financial performance [6]. - Harmonic's stock has underperformed, with a decline of 20.8% over the past year, contrasting with the industry's growth of 65.6% [7].

Harmonic Inc. (NASDAQ:HLIT) Q4 2024 Results Conference Call February 10, 2025 5:00 PM ET Company Participants David Hanover - Investor Relations Nimrod Ben-Natan - President & Chief Executive Officer Walter Jankovic - Chief Financial Officer Conference Call Participants Simon Leopold - Raymond James Ryan Koontz - Needham Steven Frankel - Rosenblatt Securities Tim Savageaux - Northland Capital Markets Operator Welcome to the Fourth Quarter and Full Year 2024 Harmonic Earnings Conference Call. My name is Vict ...

Harmonic (HLIT) came out with quarterly earnings of $0.45 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.62%. A quarter ago, it was expected that this video services provider would post earnings of $0.20 per share when it actually produced earnings of $0.26, delivering a surprise of 30%.Over the last four quarters, the co ...

Collaboration Qualifies Two Harmonic Video Streaming Solutions, VOS360 Mediaand VOS360 Ad SaaS, on Akamai Cloud SAN JOSE, Calif., Feb. 10, 2025 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced that its VOS®360 Media SaaS and VOS360 Ad SaaS are now qualified on Akamai, the cybersecurity and cloud company that powers and protects business online. This qualification can provide customers with greater efficiency for the deployment of playout, broadcast and video streaming workflows. Through this collabor ...

Record total quarterly revenue, up 33% year over year, and record quarterly Adjusted EBITDADoubles previous stock repurchase program to $200 millionSAN JOSE, Calif., Feb. 10, 2025 /PRNewswire/ -- Harmonic Inc. (NASDAQ: HLIT) today announced its unaudited results for the fourth quarter and fiscal year ended December 31, 2024."Harmonic achieved record quarterly total company revenue and Adjusted EBITDA, with both Broadband and Video revenue exceeding expectations," said Nimrod Ben-Natan, president and chief e ...

SAN JOSE, Calif., Jan. 21, 2025 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced it will release its fourth quarter and full year 2024 financial results after the market close on Monday, February 10, 2025. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m. PT on the same day.To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI1b0ab6540ffa495a805e1e982151884e.Upon registration, telephone participants will receive ...

Harmonic, Inc. (HLIT) recently announced Two Wheels Motor Racing, a prominent motorsport organization in Malaysia, has opted to utilize Harmonic’s advanced solution suite to deliver premium quality live sports streaming contents. Two Wheels Motor Racing (TWMR) is committed to bring the excitement of motorcycle racing to fans across the region. However, managing the dynamic nature of live sports streaming is a complex task and leaves no room for error.Fast paced action of sports, delivering high video qualit ...

SAN JOSE, Calif., Dec. 18, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced that Two Wheels Motor Racing (TWMR) in Malaysia is simplifying the distribution of live sports events with Harmonic. Leveraging Harmonic's VOS®360 Media SaaS, ViBE CP9000 contribution encoder and ProView 8100 IRD, TWMR can deliver exceptional-quality video streams to affiliates over the internet. "Our mission as a motorsport organization is simple: to bring the thrill of motorcycle racing to fans across Asia. Delivering ...