Welcome to our dedicated page for Harmonic news (Ticker: HLIT), a resource for investors and traders seeking the latest updates and insights on Harmonic stock.
Harmonic Inc (NASDAQ: HLIT) is a global leader in video delivery technology and services, enabling media companies and service providers to offer high-quality broadcast and OTT video services worldwide. The company has also pioneered cable access networking with the industry’s first virtualized CCAP solution, allowing cable operators to deploy gigabit internet services to homes and mobile devices more flexibly.
Harmonic operates in two primary segments: Video and Broadband. The Video segment provides video processing, production, and playout solutions to a range of clients including cable operators, satellite providers, and telecommunications companies. The Broadband segment focuses on broadband access solutions and related services, with most of the company's revenue coming from the United States.
Recent achievements include showcasing AI-powered innovations at the 2024 NAB Show, emphasizing live sports streaming, targeted advertising, and broadcast distribution. Harmonic's VOS®360 portfolio, XOS media processor, and Spectrum™ X media server are leading the charge in enabling broadcasters and service providers to unlock new monetization opportunities and improve streaming experiences.
In corporate developments, Patrick Harshman announced his retirement as CEO effective June 2024, with Nimrod Ben-Natan set to succeed him. Ben-Natan has been instrumental in the development and deployment of the Company’s virtualized broadband technology. Harmonic's strategic direction includes a focus on profitable growth for its Video business and innovative advancements in broadband services, as demonstrated by its new Beacon intelligent speed maximizer application.
Harmonic continues to drive innovation in broadband and video delivery solutions, featuring its market-leading cOS™ platform, which supports over 28 million homes globally. The company aims to enhance user experience and optimize monetization strategies for live and on-demand content on every screen.
Romanesque Capital, a long-term shareholder of Harmonic Inc. (NASDAQ: HLIT) since 2016, has expressed support for a strategic review aimed at selling the company to maximize shareholder value. The investor endorses Ancora Holdings' analysis and recommendations, citing a disconnect between Harmonic's stock price and its fundamentals despite the company's market-leading products and valuable partnerships. Romanesque Capital suggests that Harmonic would benefit from being part of a larger organization where synergies could be realized.
Ancora Holdings Group, a significant shareholder of Harmonic (NASDAQ: HLIT), has released a presentation highlighting opportunities for near-term value creation. The investor believes Harmonic's stock, currently trading at ~$12, could appreciate to ~$20 per share through either meeting 2026 broadband targets or through a sale process. Ancora suggests that Harmonic could attract interest from well-capitalized acquirers like Ciena . The presentation criticizes management's poor investor communication, which they believe has led to depressed trading multiples despite strong financials and market-leading innovation. Ancora plans to engage with Harmonic's board to evaluate standalone prospects versus sale options.
Harmonic (NASDAQ: HLIT) reported record Q3 2024 results with revenue of $195.8 million, up 54% year-over-year. The Broadband segment revenue surged 92% to $145.3 million, while Video segment revenue was $50.4 million. GAAP net income reached $21.7 million ($0.19 per share), compared to a loss of $6.5 million in Q3 2023. Non-GAAP adjusted EBITDA increased significantly to $43.4 million. The company demonstrated strong execution with improved gross margins and commercially deployed its cOS solution with 121 customers, serving 32.0 million cable modems.
Harmonic (NASDAQ: HLIT) has announced the release date for its third quarter 2024 financial results. The company will disclose the results after the market close on Monday, October 28, 2024. Following the release, Harmonic will host a live webcast at 2:00 p.m. PT to discuss the results.
Participants can join via telephone by registering in advance through a provided link. The webcast will be accessible through Harmonic's Investor Relations website. For those unable to attend the live event, a replay will be available on the same website after 5:00 p.m. PT. The company recommends participants dial in or sign on at least 15 minutes before the call.
Harmonic (NASDAQ: HLIT) has announced its Broadband Equity, Access and Deployment (BEAD) solutions to accelerate high-speed fiber-to-the-home (FTTH) deployments. The company's American-built Fin 10G R-OLT SFP+ can serve customers up to 20km away, extending existing network edge devices to reach isolated unserved and underserved communities.
The Fin pluggable module is compatible with Harmonic's rack-mounted switches and Jetty remote switches, which can be integrated into various node types. Harmonic expects to complete the BEAD and Build America, Buy America (BABA) certification process for the Fin R-OLT module by year-end and for other key fiber products in 2025.
Harmonic (NASDAQ: HLIT) has announced expanded efforts to improve interoperability between optical network units (ONU) and optical line terminals (OLT) for fiber broadband deployment. The company has added new interoperability facilities for third-party ONU vendors in North America and Europe, emphasizing its commitment to an Open ONU approach. Harmonic's cOS™ virtualized core software enables operators to support ONU devices from any vendor, eliminating vendor lock-in and reducing deployment costs.
Harmonic is collaborating with leading ONU manufacturers, including Sercomm, Hitron, and Genexis, to drive interoperability in the operator community. The company's cOS platform currently powers next-gen broadband services to more than 30 million homes worldwide for leading operators across multiple continents. This initiative aims to standardize interactions between OLT and ONU manufacturers, reshaping the economic dynamics of fiber-to-the-home deployment.
Harmonic (NASDAQ: HLIT) and Comcast have announced a breakthrough in unified DOCSIS 4.0 technology, set to be showcased at SCTE TechExpo24. Harmonic's cOS™ virtualized broadband platform is the first solution to unify both Full Duplex (FDX) and Frequency Division Duplexing (FDD) variants of DOCSIS 4.0, enabling operators to deliver symmetrical speeds up to 9Gbps over existing infrastructure.
The cOS platform powers an intelligent ecosystem of network edge devices, allowing operators to provide multigigabit speeds regardless of physical wiring or current infrastructure. This solution accelerates the deployment of new broadband services while ensuring smooth network evolution. Harmonic's cOS fiber solutions also align with BEAD funding and BABA requirements, supporting the expansion of high-speed broadband to rural communities.
Harmonic's cOS platform currently serves over 30 million homes worldwide for leading operators across multiple continents. The company will demonstrate its unified DOCSIS 4.0 and fiber broadband innovations at SCTE TechExpo24, booth 803.
Sercomm has announced the certification of its I-TEMP 10G SFP+ ONU for XGS-PON and 10G EPON with Harmonic's cOS PON OLT portfolio. This certification enhances network operators' ability to meet diverse deployment needs. The innovative form factor addresses various deployment scenarios, offering seamless integration and cost-effective solutions across multiple environments.
Key applications include:
- MDU with Coax: Enabling fiber to the premises and multi-gig DOCSIS broadband service
- MDU with Ethernet: Providing high-speed internet services in densely populated areas
- Community Wi-Fi and Security Cameras: Isolating traffic from residential services
- Monitoring: Offering real-time visibility into critical utilities and devices
- Passive Optical LAN (PO LAN): Reducing the need for expensive Ethernet switches and enabling long-distance deployments
Sercomm and Harmonic will showcase the I-TEMP 10G SFP+ ONU at SCTE Expo 2024 in Atlanta.
Harmonic (NASDAQ: HLIT) announced that U.S. service provider Bluepeak Fiber is adopting Harmonic's cOS™ virtualized broadband platform to future-proof its network. This solution supports DOCSIS 4.0, 10G, and fiber, offering flexibility for high-speed internet delivery. Bluepeak will deploy Harmonic's software in a distributed access architecture (DAA) with Pebble Remote PHY Device and Ripple modular DAA node, streamlining operations and resolving space and power constraints.
The platform enables BoostD 3.1, delivering speeds over 8 Gbps downstream. Harmonic's cOS Central service will provide real-time data insights for proactive issue resolution. The cOS platform currently powers broadband services to over 30 million homes worldwide.
Harmonic (NASDAQ: HLIT) will showcase its intelligent ecosystem for fiber and DOCSIS networks at SCTE TechExpo24. The company's innovations enable operators to deliver multigigabit speeds with enhanced reliability, opening new revenue opportunities. Harmonic will demonstrate:
- DOCSIS 4.0 capabilities with speeds over 9Gbps
- Open ONU capability for flexible fiber broadband deployment
- Beacon intelligent speed maximizer for DOCSIS networks
- BoostD 3.1 for fiber-like speeds over DOCSIS 3.1
- Converged fiber and DOCSIS solutions
Harmonic's cOS platform currently powers broadband services to over 30 million homes worldwide.
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