HARMONIC INC.
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
HLIT$10.23+7.6%Stored close · as of Nov 9, 2026
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Consolidated Statements of Operations
(In thousands, except per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenue: | |||
| Appliance and integration | $302,787 | $433,795 | $334,029 |
| SaaS and service | 57,736 | 54,405 | 54,453 |
| Total net revenue | 360,523 | 488,200 | 388,482 |
| Cost of revenue: | |||
| Appliance and integration | 162,129 | 221,745 | 189,243 |
| SaaS and service | 23,649 | 26,348 | 21,118 |
| Total cost of revenue | 185,778 | 248,093 | 210,361 |
| Total gross profit | 174,745 | 240,107 | 178,121 |
| Operating expenses: | |||
| Research and development | 76,329 | 72,574 | 69,708 |
| Selling, general and administrative | 81,384 | 79,169 | 78,274 |
| Asset impairment and related charges | 1,637 | 10,889 | — |
| Restructuring and related charges | 1,315 | 2,741 | 110 |
| Total operating expenses | 160,665 | 165,373 | 148,092 |
| Income from operations | 14,080 | 74,734 | 30,029 |
| Interest expense, net | (3,799) | (6,465) | (2,027) |
| Other income (expense), net | (1,420) | 3,267 | (157) |
| Income before income taxes | 8,861 | 71,536 | 27,845 |
| Provision for (benefit from) income taxes | 7,645 | 20,818 | (60,493) |
| Income from continuing operations | 1,216 | 50,718 | 88,338 |
| Loss from discontinued operations, net of tax | (44,526) | (11,501) | (4,344) |
| Net income (loss) | $(43,310) | $39,217 | $83,994 |
| Net income (loss) per share: | |||
| Basic: | |||
| Continuing operations | $0.01 | $0.44 | $0.79 |
| Discontinued operations | (0.39) | (0.10) | (0.04) |
| Basic earnings (loss) per share | $(0.38) | $0.34 | $0.75 |
| Diluted: | |||
| Continuing operations | $0.01 | $0.43 | $0.75 |
| Discontinued operations | (0.39) | (0.10) | (0.03) |
| Diluted earnings (loss) per share | $(0.38) | $0.33 | $0.72 |
| Weighted average common shares: | |||
| Basic | 113,660 | 115,120 | 111,651 |
| Diluted | 114,182 | 117,482 | 117,359 |
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