What does Harmonic do and what are its main business segments?

What is the revenue and EPS growth rate for Harmonic year over year?

What factors drove the changes in Harmonic's revenue and profit?

What is the market's earnings forecast for Harmonic next quarter?

What is Harmonic's gross profit margin?

What is Harmonic's latest dividend and current dividend yield?

What were the key takeaways from Harmonic's earnings call?

Did Harmonic beat or miss consensus estimates last quarter?

- **Revenue Beat**: Q3 revenue of $142.4 million exceeded guidance, driven by 15% broadband growth and 13.6% video SaaS expansion. 
- **DOCSIS 4.0 Leadership**: 14 cOS deployments serving 37M modems, Mediacom achieves industry-first 4.0 deployment. Fiber partnerships with Comcast add 1M homes/year.
- **Financial Strength**: $21M free cash flow, $127.4M cash, and $66.1M share buybacks. 2026 outlook positive with 4.0 adoption and SaaS growth.
- **Strategic Moves**: Pathfinder AI innovation, Akamai media services transition, and Google Ad Manager integrations drive differentiation.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue of $142.4 million exceeded guidance, driven by broadband and video segments. Broadband revenue reached $90.5 million, up 15% year-over-year, with 14 cOS deployments serving 37 million modems globally.
- **DOCSIS 4.0 Momentum**: Highlighted Mediacom's industry-first production deployment of Unified DOCSIS 4.0 on extended spectrum, GCI's network upgrades, and international wins in Europe and North America. Fiber business expanded with Comcast, adding 1 million new homes annually using Harmonic's virtual BNG and remote OLTs.
- **Innovation**: Introduced Pathfinder and Beacon Speed Maximizer for real-time network interference mitigation. Video segment SaaS streaming revenue grew 13.6% YoY to $16.1 million, powered by Akamai and Google Ad Manager integrations.

**【CFO Financial Commentary】**
- **Financial Performance**: Q3 GAAP EPS of $0.12, free cash flow of $21 million, and a $127.4 million cash balance. Broadband gross margin 47.3%, video gross margin 66.7%, reflecting strong SaaS growth and cost control.
- **Capital Allocation**: Repurchased $16 million in shares (total $66.1 million YTD) under a $200 million program. Expect 2026 growth driven by DOCSIS 4.0 adoption and fiber expansion.
- **Guidance**: Q4 2025 broadband revenue $85-95 million, video $48-52 million. 2026 outlook positive with DOCSIS 4.0 ramp-up and SaaS expansion.

**【Q&A Highlights】**
- **Customer Diversification**: Rest-of-world broadband growth 20% YoY, reducing reliance on Comcast (43% Q3 revenue). DOCSIS 4.0 transition delays Q4, but 2026 growth expected.
- **Akamai Impact**: Video SaaS growth from Akamai onboarding, with incremental revenue from VOS ad solutions.
- **Fiber Expansion**: Comcast partnership accelerates fiber deployment, aligning with 2026 growth plans.

Harmonic Inc. (HLIT) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

HLIT

HLIT fundamentals

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