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]