Every material Form 8-K Harmonic has filed with the SEC since December 26, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Harmonic reported third-quarter 2026 revenue of $148.8 million, up 64% from $90.5 million a year earlier, and GAAP diluted earnings of $0.16 per share versus $(0.00) a year earlier. The company raised its full-year 2026 GAAP revenue outlook to $545 million to $555 million, and its Q4 2026 revenue guidance is $141 million to $151 million, which matters to shareholders because it signals continued growth after the Video business sale.
Q3 2026 GAAP net revenue was $148.8 million, up 64% year over year; GAAP operating profit was $26.2 million versus $4.0 million a year earlier.
Backlog and deferred revenue was $534.0 million at October 2, 2026, an increase of 58% from $338 million a year earlier.
Full-year 2026 GAAP net revenue outlook raised to $545 million to $555 million; Q4 2026 GAAP net revenue guidance is $141 million to $151 million.
Video business sale to Leone Media Inc. (MediaKind) completed June 16, 2026 for $137.9 million in proceeds at closing, subject to post-closing adjustments.
Harmonic reported preliminary unaudited Q2 2026 results for the quarter ended July 3, 2026, with Broadband net revenue of $133.5 million, up from $86.9 million a year earlier, and GAAP continuing-operations net income per share of $0.16 versus a $(0.01) loss. The company raised its full-year 2026 Broadband revenue outlook to $505 million-$525 million, but total company GAAP results were a loss of $(0.02) per share after a $19.4 million loss from discontinued operations tied to the Video business sale.
Q2 2026 Broadband net revenue was $133.5 million, up 54% from $86.9 million in Q2 2025; Rest-of-Market revenue grew 44%
GAAP net income per share from continuing operations was $0.16 in Q2 2026; total company GAAP net loss per share was $(0.02) including discontinued operations
2026 GAAP revenue guidance raised to $505 million-$525 million; Q3 2026 GAAP revenue guidance is $125 million-$135 million
Video business sale to Leone Media Inc. (MediaKind) closed June 16, 2026 with $137.9 million in proceeds at closing; cash was $231.9 million at July 3, 2026
Harmonic Inc. completed the sale of its Video Business to Leone Media Inc. (d/b/a MediaKind) on June 16, 2026, for $145 million in cash, subject to customary post-closing adjustments. The company says it will now focus its resources on its broadband business, and the press release describes the proceeds as a significant capital infusion to the balance sheet.
Sale closed June 16, 2026; purchase price of $145 million in cash, subject to adjustments for net working capital, cash and indebtedness, and specified selling expenses
Harmonic agreed not to compete with the Video Business for three years after closing; both parties agreed to indemnify each other for certain losses under the agreement
Neven Haltmayer, Senior Vice President and General Manager, Video Business, resigned effective June 16, 2026, after 20 years of service
Harmonic plans an Investor Day in New York City on September 15, 2026
Harmonic reported preliminary first-quarter 2026 results, with Broadband net revenue of $121.7 million, up 43% from $84.9 million a year earlier, and raised its full-year 2026 Broadband revenue outlook to $475 million to $495 million. The sale of its Video business to Leone Media Inc. (d/b/a MediaKind) for $145 million in cash is expected to close in the second quarter of 2026.
Q1 2026 Broadband GAAP net revenue $121.7 million vs. $84.9 million in Q1 2025; GAAP net income per share $0.10 vs. $0.02
Total company GAAP net income $7.3 million, or $0.07 per diluted share, including a $3.9 million loss from discontinued operations
Q2 2026 Broadband GAAP revenue guidance of $115 million to $125 million; 2026 GAAP net income per share guidance of $0.36 to $0.45
Video sale expected to close in Q2 2026; a related incentive plan provides a $835,000 cash bonus to an SVP and GM upon completion
Harmonic Inc. disclosed that director Dan Whalen resigned from its Board of Directors effective March 31, 2026, citing potential conflicts of interest from a new role at another company. The filing states the resignation was not due to any disagreement with Harmonic on its operations, policies or practices.
Dan Whalen notified Harmonic of his resignation on March 31, 2026, effective the same day
Resignation cited potential conflicts of interest from his acceptance of a new role at another company
Whalen had served on the Board since 2024, after an earlier term from 2021 to 2023, and sat on the Audit and Compensation Committees
The filing states no disagreement with Harmonic on operations, policies or practices
Harmonic Inc. signed an Asset Purchase Agreement on March 20, 2026, to sell its Video Business to Leone Media Inc. (d/b/a MediaKind) for $145 million in cash, subject to adjustment for net working capital, cash and debt, and selling expenses. The sale is expected to close in the second quarter of 2026, subject to customary regulatory approvals and other closing conditions. The filing does not include financial results for the business, so its effect on Harmonic's earnings is not stated.
Purchase price of $145 million in cash, subject to adjustment at closing
Put Option exercised March 16, 2026, after French works council consultation completed March 12, 2026; APA executed March 20, 2026
Closing expected in the second quarter of 2026; either party may terminate if conditions are unmet by June 8, 2026, extendable to September 8, 2026
Harmonic agrees not to compete with the business for three years after closing
Harmonic reported preliminary unaudited results for the fourth quarter and fiscal 2025. Broadband revenue fell sharply from a year earlier, but backlog and deferred revenue rose 73%, and the company guided 2026 Broadband GAAP net revenue to $440 million to $480 million, compared with $360.5 million in fiscal 2025. Results also include a $57.5 million goodwill impairment on the Video business, which is being sold to Leone Media Inc. for $145 million in cash.
Q4 2025 Broadband net revenue was $98.2 million, down from $171.0 million in Q4 2024; fiscal 2025 revenue was $360.5 million versus $488.2 million.
Total company GAAP loss per share was $(0.49) for Q4 and $(0.38) for fiscal 2025, including a $57.5 million goodwill impairment on the Video business.
Backlog and deferred revenue rose 73% to $573.8 million; Q1 2026 GAAP Broadband net revenue guidance is $100 million to $105 million.
The $145 million Video business sale is expected to close in the first half of 2026, subject to closing conditions.
Harmonic's Compensation Committee approved a 2026 Key Contributor Incentive Plan tied to non-GAAP operating profit and bookings, raised named executive base salaries effective July 1, 2026, and amended change-of-control severance agreements for three executives. The filing also accelerates vesting of equity for the head of the Video Business, which is being sold, once the sale closes. The changes set pay incentives and severance terms for top executives, which shareholders may track through future proxy and results disclosures.
CEO Nimrod Ben-Natan's new base salary is $750,000, up from $618,000, effective July 1, 2026
Bonus payouts are capped at 200% of the target portion for each metric; payment follows the end of fiscal 2026
Change-of-control severance for executives within 18 months of a change of control includes lump sums of 100% of base salary (200% for the CEO)
Vesting acceleration for Neven Haltmayer's unvested RSUs applies upon completion of the pending Video Business sale to Leone Media Inc. (d/b/a MediaKind)
Harmonic entered a Put Option Agreement with Leone Media Inc. (d/b/a MediaKind), giving Harmonic the right to require MediaKind to buy its Video Business for $145 million in cash after a French works council consultation. The company says the sale would sharpen its focus on its Broadband business and strengthen its balance sheet, and it reaffirmed its Q4 2025 guidance, though the filing does not disclose the business's financial results.
Purchase price is $145 million in cash, subject to adjustments for net working capital, cash and debt, and selling expenses
Exclusivity runs until the signing of the asset purchase agreement or March 23, 2026, whichever comes first
Closing is expected in the first half of 2026; either party may terminate if closing conditions are not met by June 8, 2026
Harmonic reaffirmed its total company financial guidance for Q4 2025
Harmonic reported preliminary, unaudited third-quarter 2025 results for the quarter ended September 26, 2025, in a press release furnished with this 8-K. Revenue was $142.4 million, down from $195.8 million a year earlier, and GAAP net income fell to $2.7 million, or $0.02 per share, from $21.7 million, or $0.19 per share. The company also gave fourth-quarter 2025 GAAP net revenue guidance of $133 million to $147 million.
Q3 2025 revenue was $142.4 million versus $195.8 million in Q3 2024; Broadband was $90.5 million (versus $145.3 million) and Video was $51.9 million (versus $50.4 million).
GAAP net income was $2.7 million ($0.02 per share) versus $21.7 million ($0.19 per share) a year earlier; Non-GAAP net income per share was $0.12 versus $0.26.
Q4 2025 guidance projects total GAAP net revenue of $133 million to $147 million and Non-GAAP adjusted EBITDA of $13 million to $22 million.
Harmonic repurchased about 1.8 million shares for $15.7 million in the quarter and reported cash of $127.4 million at quarter end.
Harmonic reported preliminary unaudited second-quarter 2025 results for the quarter ended June 27, 2025. Revenue was $138.0 million, down from $138.7 million a year earlier, while GAAP net income was $2.9 million, or $0.03 per share, compared with a GAAP net loss of $12.5 million in the prior-year quarter. The company also gave third-quarter 2025 GAAP revenue guidance of $120 million to $135 million.
Q2 2025 revenue $138.0 million vs $138.7 million in Q2 2024; Video revenue rose to $51.1 million from $45.8 million, while Broadband fell to $86.9 million from $92.9 million
GAAP net income $2.9 million, $0.03 per share, vs GAAP net loss of $12.5 million, $(0.11) per share, a year earlier
Q3 2025 GAAP net revenue guidance of $120 million to $135 million; GAAP net income (loss) guided at $(4) million to $0 million
Cash and cash equivalents of $123.9 million at June 27, 2025; repurchased about 1.6 million shares for $14.0 million
Harmonic reported preliminary unaudited first-quarter 2025 results for the quarter ended March 28, 2025. Revenue rose to $133.1 million from $122.1 million a year earlier, and the company swung to GAAP net income of $5.9 million from a loss of $8.1 million. For Q2 2025, Harmonic guided to a GAAP net loss of $5 million to $1 million on revenue of $120 million to $135 million.
Q1 2025 GAAP net income was $5.9 million, or $0.05 per diluted share, compared with a GAAP net loss of $8.1 million, or $0.07 per share, a year earlier.
Q1 2025 Broadband segment revenue was $84.9 million and Video segment revenue was $48.3 million, both higher than the prior-year quarter.
Q2 2025 GAAP net loss guidance is $5 million to $1 million, and Non-GAAP net income per share guidance is $0 to $0.04.
Harmonic repurchased about 3.5 million shares for $36.1 million in the quarter and ended with $148.7 million in cash.
On February 20, 2025, Harmonic's Compensation Committee approved three 2025 bonus plans covering corporate, broadband and video executives, including CEO Nimrod Ben-Natan and CFO Walter Jankovic. Bonuses depend on fiscal 2025 non-GAAP operating profit and bookings targets, and the committee retains discretion to amend or cancel the plans.
Target bonus is 100% of base salary for CEO Nimrod Ben-Natan and 80% for CFO Walter Jankovic
Payouts can reach up to 200% of the target bonus portion tied to each metric if targets are exceeded
Broadband Plan uses non-GAAP operating profit and bookings; Video Plan uses non-GAAP operating profit for fiscal 2025
Bonuses are paid after fiscal year 2025 ends, and participants must remain employed through payment
Harmonic reported unaudited fourth-quarter 2024 revenue of $222.2 million, up from $167.1 million a year earlier, and GAAP net income of $38.1 million, down from $83.8 million, which included a prior-year tax benefit. The company guided to 2025 GAAP net revenue of $585 million to $645 million and authorized a new $200 million share repurchase program through February 2028.
Q4 2024 GAAP diluted EPS was $0.32, versus $0.72 a year earlier; non-GAAP diluted EPS was $0.45, versus $0.13
Q4 2024 adjusted EBITDA was $71.8 million, versus $21.7 million a year earlier
2025 GAAP net revenue guidance is $585 million to $645 million, with GAAP net income of $22 million to $53 million
Board authorized a new $200 million buyback through February 2028, replacing the existing program
Harmonic Inc. signed a Third Amendment to its credit agreement on December 23, 2024, adding $40.0 million of revolving credit commitments under the existing facility. As of December 23, 2024, the company had $75 million of revolving loans and $39.5 million of term loans outstanding, so the amendment expands the company's borrowing capacity.
Incremental revolving commitments of up to $40.0 million added under the existing Credit Agreement dated December 21, 2023
Total facility now provides loans of up to $200.0 million: $160.0 million revolving and $40.0 million term loan
As of December 23, 2024: $75 million revolving loans, $39.5 million term loans and about $2.9 million letters of credit outstanding
Harmonic Inc. disclosed that director Mitzi Reaugh will resign from its Board of Directors effective December 31, 2024, to pursue other professional commitments. The filing says her departure is not due to any disagreement with management or the Board, and the Board will have eight directors, seven of them independent, after her exit.
Mitzi Reaugh informed the Board on December 20, 2024 of her resignation.
Resignation takes effect December 31, 2024; the filing cites other professional commitments.
No disagreement with management or the Board on operations, policies or practices, per the filing.
Board will have eight directors (seven independent) after her departure; four new independent directors joined in 2024.
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