HLIT · Harmonic Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '25 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $121.69M | - | $142.38M | $138.03M | - | $195.76M | $138.74M | $122.06M | - | $127.20M |
| Cost of Revenue | $58.08M | - | $65.25M | $64.23M | - | $91.02M | $65.28M | $58.98M | - | $65.52M |
| Gross Profit | $63.62M | - | $77.13M | $73.79M | - | $104.73M | $73.46M | $63.08M | - | $61.68M |
| R&D | $20.88M | - | $29.70M | $29.44M | - | $30.07M | $28.78M | $30.70M | - | $30.32M |
| SG&A | $22.29M | - | $36.52M | $38.19M | - | $35.85M | $39.82M | $38.87M | - | $39.24M |
| Total Operating Expenses | $43.17M | - | $67.31M | $69.92M | - | $69.31M | $89.09M | $72.61M | - | $70.29M |
| D&A | $2.52M | - | - | - | - | - | - | $3.08M | - | - |
| Operating Income | $20.45M | - | $9.82M | $3.87M | - | $35.42M | ($15.63M) | ($9.53M) | - | ($8.60M) |
| Interest Expense | $1.08M | - | $1.18M | $1.25M | - | $2.69M | $1.42M | $723.0K | - | $619.0K |
| Income Tax | $9.68M | - | $6.05M | $105.0K | - | $7.09M | ($3.90M) | ($2.45M) | - | ($2.38M) |
| Net Income | $7.31M | - | $2.69M | $2.87M | - | $21.72M | ($12.53M) | ($8.09M) | - | ($6.50M) |
| EPS - Basic | $0.07 | - | $0.02 | $0.03 | - | $0.19 | ($0.11) | ($0.07) | - | ($0.06) |
| EPS - Diluted | $0.07 | - | $0.02 | $0.03 | - | $0.19 | ($0.11) | ($0.07) | - | ($0.06) |
Balance Sheet
| Line item | Q1 '25 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $109.00M | $124.11M | $127.38M | $123.92M | $101.46M | $58.17M | $45.85M | $84.31M | $84.27M | $75.62M |
| Accounts Receivable | $83.50M | $85.94M | $104.54M | $120.67M | $178.01M | $173.73M | $120.00M | $105.85M | $141.53M | $110.34M |
| Inventory | $51.20M | $47.84M | $68.60M | $71.14M | $64.00M | $73.86M | $84.13M | $86.63M | $83.98M | $103.75M |
| Accounts Payable | $34.97M | $23.09M | $23.27M | $40.67M | $35.25M | $42.48M | $30.02M | $43.84M | $38.56M | $47.12M |
| Current Assets | $485.25M | $494.37M | $327.03M | $342.86M | $366.08M | $336.37M | $284.55M | $300.81M | $330.73M | $329.14M |
| Total Assets | $705.31M | $718.48M | $758.60M | $783.35M | $796.51M | $759.86M | $713.70M | $740.67M | $768.21M | $673.81M |
| Current Liabilities | $214.24M | $197.95M | $157.10M | $172.21M | $167.57M | $161.66M | $151.90M | $274.82M | $272.39M | $275.22M |
| Long-term Debt | $108.40M | $109.14M | $109.88M | $110.61M | $112.08M | $112.82M | $113.81M | - | $15.41M | - |
| Total Liabilities | $350.15M | $335.24M | $315.58M | $336.94M | $331.25M | $330.92M | $320.89M | $331.52M | $331.33M | $333.01M |
| Stockholders' Equity | $355.15M | $383.25M | $443.01M | $446.40M | $465.26M | $428.94M | $392.81M | $409.15M | $436.87M | $340.80M |
| Retained Earnings | ($2.11B) | ($2.08B) | ($2.01B) | ($2.00B) | ($1.95B) | ($1.99B) | ($2.01B) | ($1.99B) | ($1.96B) | ($2.05B) |
Cash Flow
| Line item | Q1 '25 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $31.69M | - | - | - | - | - | - | $26.82M | - | - |
| Investing Cash Flow | ($1.40M) | - | - | - | - | - | - | ($1.91M) | - | - |
| Financing Cash Flow | ($44.55M) | - | - | - | - | - | - | ($23.87M) | - | - |
| CapEx | $1.40M | - | - | - | - | - | - | $1.91M | - | - |
| Free Cash Flow | $30.29M | - | - | - | - | - | - | $24.91M | - | - |
Ratios
| Metric | Q1 '25 | Q4 '25 | Q3 '25 | Q2 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 52.3% | - | 54.2% | 53.5% | - | 53.5% | 52.9% | 51.7% | - | 48.5% |
| Operating margin | 16.8% | - | 6.9% | 2.8% | - | 18.1% | -11.3% | -7.8% | - | -6.8% |
| EBITDA margin | 18.9% | - | - | - | - | - | - | -5.3% | - | - |
| Net margin | 6.0% | - | 1.9% | 2.1% | - | 11.1% | -9.0% | -6.6% | - | -5.1% |
| Free cash flow margin | 24.9% | - | - | - | - | - | - | 20.4% | - | - |
| FCF / Net income | 4.14 | - | - | - | - | - | - | -3.08 | - | - |
| R&D / Revenue | 17.2% | - | 20.9% | 21.3% | - | 15.4% | 20.7% | 25.2% | - | 23.8% |
| SG&A / Revenue | 18.3% | - | 25.7% | 27.7% | - | 18.3% | 28.7% | 31.8% | - | 30.9% |
| Effective tax rate | 57.0% | - | 69.2% | 3.5% | - | 24.6% | - | - | - | - |
| Return on assets | 1.0% | - | 0.4% | 0.4% | - | 2.9% | -1.8% | -1.1% | - | -1.0% |
| Return on equity | 2.1% | - | 0.6% | 0.6% | - | 5.1% | -3.2% | -2.0% | - | -1.9% |
| Return on invested capital | 2.2% | - | 0.9% | 0.7% | - | 4.9% | -2.4% | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 2.26 | 2.50 | 2.08 | 1.99 | 2.18 | 2.08 | 1.87 | 1.09 | 1.21 | 1.20 |
| Quick ratio | 2.03 | 2.26 | 1.64 | 1.58 | 1.80 | 1.62 | 1.32 | 0.78 | 0.91 | 0.82 |
| Cash ratio | 0.51 | 0.63 | 0.81 | 0.72 | 0.61 | 0.36 | 0.30 | 0.31 | 0.31 | 0.27 |
| Leverage | ||||||||||
| Debt / Equity | 0.31 | 0.28 | 0.25 | 0.25 | 0.24 | 0.26 | 0.29 | - | 0.04 | - |
| Debt / Assets | 0.15 | 0.15 | 0.14 | 0.14 | 0.14 | 0.15 | 0.16 | - | 0.02 | - |
| Debt / EBITDA | 4.72 | - | - | - | - | - | - | - | - | - |
| Interest coverage | 19.0x | - | 8.3x | 3.1x | - | 13.2x | -11.0x | -13.2x | - | -13.9x |
| Equity multiplier | 1.99 | 1.87 | 1.71 | 1.75 | 1.71 | 1.77 | 1.82 | 1.81 | 1.76 | 1.98 |
| Liabilities / Assets | 0.50 | 0.47 | 0.42 | 0.43 | 0.42 | 0.44 | 0.45 | 0.45 | 0.43 | 0.49 |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | - | 0.19 | 0.18 | - | 0.26 | 0.19 | 0.16 | - | 0.19 |
| Inventory turnover | 1.13 | - | 0.95 | 0.90 | - | 1.23 | 0.78 | 0.68 | - | 0.63 |
| Days sales outstanding | 250d | - | 268d | 319d | - | 324d | 316d | 317d | - | 317d |
| Days inventory outstanding | 322d | - | 384d | 404d | - | 296d | 470d | 536d | - | 578d |
| Days payable outstanding | 220d | - | 130d | 231d | - | 170d | 168d | 271d | - | 263d |
| Cash conversion cycle | 352d | - | 522d | 492d | - | 450d | 618d | 581d | - | 632d |
| Valuation | ||||||||||
| P / E | 131.4x | - | 503.5x | 316.3x | - | 76.3x | - | - | - | - |
| P / B | 2.9x | - | 2.6x | 2.4x | - | 4.0x | 3.4x | 3.7x | - | 3.2x |
| P / S | 8.4x | - | 8.0x | 7.8x | - | 8.7x | 9.8x | 12.4x | - | 8.5x |
| EV / EBITDA | 44.3x | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -0.3% | - | -27.3% | -0.5% | - | 53.9% | -11.0% | -22.6% | - | -18.3% |
| Revenue CAGR (3y) | -6.2% | - | -2.9% | -4.3% | - | 15.7% | 6.9% | 3.0% | - | 10.3% |
| Revenue CAGR (5y) | 9.2% | - | 8.5% | 13.3% | - | 11.1% | 10.3% | 8.8% | - | - |
| Gross profit growth (YoY) | 0.8% | - | -26.4% | 0.5% | - | 69.8% | -13.5% | -25.0% | - | -21.5% |
| Operating income growth (YoY) | - | - | -72.3% | - | - | - | - | - | - | - |
| Net income growth (YoY) | - | - | -87.6% | - | - | - | - | - | - | - |
| EPS growth (YoY) | - | - | -89.5% | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | -37.0% | - | - | 166.8% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 21.6% | - | - | - | - | - | - | 532.4% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | 57.8% | - | - |
| Book value growth (YoY) | -13.2% | -17.6% | 3.3% | 13.6% | 6.5% | 25.9% | 14.6% | 21.8% | 34.6% | 13.4% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$663.31M totalAppliance Integration$302.79M · 45.6%
Product$267.05M · 40.3%
Saa SService$57.74M · 8.7%
Professional Services$35.74M · 5.4%
Geographic
$721.05M totalAmericas$320.57M · 44.5%
US$277.05M · 38.4%
Non Us$83.47M · 11.6%
EMEA$33.89M · 4.7%
Asia Pacific$6.06M · 0.8%
Peer comparison
Same SIC group: Radio & Tv Broadcasting & Communications Equipment
Comparing HARMONIC INC. against the 5 most active filers in the same SIC group.