Core Insights - Harmonic has launched new origin capabilities for video streaming, enhancing efficiency and flexibility for service providers and broadcasters while reducing costs [1][5] - The new solution integrates cloud and on-premises storage, optimizing content management and storage costs [2][3] Group 1: New Origin Capabilities - The hybrid origin solution combines cloud and on-premises storage, utilizing VOS360 Media SaaS for less frequently accessed content and on-premises storage for fresh video assets [2] - Older content is automatically transitioned to cloud storage, improving overall efficiency [2] Group 2: Scalability and Configuration - The cloud-native solution features an intuitive user interface, allowing service providers to scale storage based on demand, balancing fixed workloads with cloud scalability [3] - This strategy enhances flexibility and reduces cloud storage costs [3] Group 3: Streamlined Broadcasting - Harmonic introduces live and time-shift origin capabilities within the XOS Advanced Media Processor, allowing broadcasters to stream live content directly to CDNs with a single appliance [4] - This integration minimizes operational complexity and reduces hardware costs, making it a cost-effective solution for live and time-shift content [4] Group 4: Market Positioning - The company emphasizes its role in redefining streaming solutions by combining playout, compression, origin, and delivery functionalities [5] - Harmonic aims to enable customers to deploy streaming services efficiently and profitably, which is crucial in a competitive market [5] Group 5: Company Overview - Harmonic is a leader in virtualized broadband and video delivery solutions, facilitating ultra-high-quality video streaming and broadcast services globally [6] - The company has revolutionized broadband networking with its first virtualized broadband solution, enhancing the deployment of gigabit internet services [6]

Core Insights - Harmonic's VOS Media Software is being utilized by Weigel Broadcasting to simplify video distribution and reduce costs, showcasing a shift towards cloud-native solutions in the broadcasting industry [1][2][3] Group 1: Company Overview - Harmonic is a leader in virtualized broadband and video delivery solutions, enabling media companies to deliver high-quality video streaming and broadcast services globally [4] - Weigel Broadcasting is a family-owned media company based in Chicago, operating national television networks and local broadcast stations, including the popular MeTV network [7] Group 2: Technology and Innovation - The VOS Media Software provides an end-to-end workflow for various broadcasting functions, including ingest, centralcasting, advanced playout, encoding, and distribution, all through a fully software-based system [2][3] - The software allows Weigel to scale operations easily by increasing compute power rather than relying on traditional hardware setups, enhancing operational efficiency and flexibility for future expansion [2][3] Group 3: Market Impact - By adopting Harmonic's VOS Media Software, Weigel Broadcasting positions itself as an innovator in the industry, leveraging advanced capabilities such as ATSC support, OTT, and AI integration to streamline operations and future-proof video delivery [3]

Core Viewpoint - Harmonic Inc. (HLIT) has partnered with Astound Broadband to implement its cOS virtualized broadband platform, aiming to enhance network efficiency and scalability while paving the way for fiber deployment [1][2]. Group 1: Harmonic's cOS Platform Benefits - The cOS broadband platform is a cloud-native solution that supports both current DOCSIS technology and future passive optical network deployments, enabling gigabit symmetrical speeds over existing infrastructure [2][3]. - The platform will be integrated within a distributed access architecture, utilizing Harmonic's Pebble Remote Physical Layer Device to boost operational efficiency and provide advanced analytics for real-time network monitoring [3]. Group 2: Market Position and Client Base - Harmonic's cOS platform currently supports over 33 million homes globally, indicating a strong market presence and commitment to innovation [4]. - The company operates in more than 50 countries, which is expected to drive revenue growth in upcoming quarters due to an increasing customer base [5]. Group 3: Stock Performance - Harmonic's stock has decreased by 18.9% over the past year, contrasting with the industry's growth of 23.4% [6]. - The company has delivered an earnings surprise of 158.41% over the trailing four quarters, showcasing its potential for financial improvement [9].

Core Insights - Harmonic's cOS virtualized broadband platform has been selected by Astound Broadband to enhance its broadband infrastructure, aiming for improved speed and reliability [1][3] - The partnership is expected to provide Astound Broadband with a scalable and efficient network, facilitating a transition to fiber technology in the future [1][5] Company Overview - Harmonic is a leader in virtualized broadband and video delivery solutions, enabling service providers to deliver high-quality video streaming and gigabit internet services globally [6] - Astound Broadband is the sixth largest cable operator in the U.S., serving over one million subscribers with high-speed internet and various communication solutions [9] Technological Advancements - The deployment of Harmonic's cOS platform will utilize a distributed access architecture (DAA) and the Pebble Remote PHY Device, allowing for faster service rollout and reduced hardware needs [3] - Harmonic's cOS Central will provide advanced analytics and automation, ensuring real-time visibility and proactive issue resolution for consistent broadband service [4] Market Impact - Harmonic's cOS platform currently powers next-gen broadband services to over 33 million homes worldwide, indicating its significant market presence and influence [5]

Core Viewpoint - Pomerantz LLP is investigating potential securities fraud or unlawful business practices by Harmonic Inc and its officers or directors, following disappointing financial results and guidance that fell short of analyst expectations [1][2]. Financial Performance - Harmonic reported its fourth quarter and fiscal year results for 2025, forecasting earnings per share (EPS) for Q1 2025 in the range of $0.02 to $0.08, with revenue expected between $120 million to $135 million, significantly below analyst projections of $0.12 EPS and $149.39 million in revenue [2]. - For the full year 2025, Harmonic provided guidance of EPS between $0.43 to $0.68 and revenue of $585 million to $645 million, missing consensus estimates of $0.87 EPS and $720.73 million in revenue [2]. Stock Market Reaction - Following the announcement of the financial results and guidance, Harmonic's stock price dropped by $1.70 per share, or 15.29%, closing at $9.42 per share on February 11, 2025 [3].

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 ...