Quarterly ResultMay 11, 2026, 04:18 PM
Harmonic Q1 Broadband Revenue +43%; Raises FY Outlook
AI Summary
Harmonic Inc. reported strong preliminary unaudited financial results for Q1 2026, with Broadband revenue increasing 43% year-over-year to $121.7 million. The company raised its full-year 2026 outlook for Broadband revenue to $475 million - $495 million, reflecting continued momentum and robust bookings. Additionally, the sale of its Video business for $145 million is progressing as planned and is expected to close in the second quarter of 2026. The company also approved an incentive plan for a key executive tied to the Video business divestment.
Key Highlights
- Q1 2026 Broadband revenue increased 43% year-over-year to $121.7 million.
- Q1 2026 GAAP diluted EPS from continuing operations was $0.10, up from $0.02 YoY.
- Company raised full-year 2026 Broadband revenue outlook to $475 million - $495 million.
- Sale of Video business for $145 million is on track to close in Q2 2026.
- Backlog and deferred revenue grew 87% year-over-year to $582.1 million.
- Repurchased 4.2 million shares for $43.0 million in Q1 2026.
- Approved incentive plan for SVP Neven Haltmayer, including $835,000 cash bonus, tied to Video business sale.
- Q1 2026 Broadband revenue from Rest-of-Market grew 78% year-over-year.