Harmonic Inc - HLIT STOCK NEWS

Harmonic Inc. (NASDAQ: HLIT) reported Q2 2024 results with revenue of $138.7 million, up 14% quarter-over-quarter and at the high end of guidance. The company reaffirmed its full-year revenue guidance for both Broadband and Video segments. Key highlights include:

- Broadband segment revenue: $92.9 million
- Video segment revenue: $45.8 million
- GAAP gross margin: 52.9%, Non-GAAP: 53.1%
- GAAP net loss: $12.5 million, Non-GAAP net income: $9.3 million
- Non-GAAP adjusted EBITDA: $16.1 million

Harmonic's cOS™ solution is now deployed with 118 customers, serving 30.1 million cable modems. The company is diversifying its Broadband customer base and has begun production shipments of its new high-density Pier optical line terminal for PON applications.

Harmonic (NASDAQ: HLIT) has appointed Neel Dev to its board of directors. Dev, currently the CFO and CRO of Congruex, brings extensive finance and operational leadership experience in the telecom and broadband industries. Previously, he served as EVP and CFO of Lumen Technologies and held finance leadership roles at Level 3 Communications, MCI, and MFS Communications.

Harmonic's CEO, Nimrod Ben-Natan, expressed enthusiasm about Dev's addition to the board, citing his expertise as valuable for driving profitable growth in Harmonic's broadband and video businesses globally. Dev holds a BA in Mathematics from the University of Delhi and an MBA from the University of Arizona, and is a CFA® charter holder.

Harmonic (NASDAQ: HLIT) announced that Paragould Municipal Utilities in Arkansas has chosen its cOS broadband platform for high-speed fiber broadband delivery. The platform, featuring cOS virtualized core software and Pier OLT shelf, will simplify Paragould's transition from GPON to XGS-PON, enabling 10G connectivity and supporting third-party ONU/ONTs.

Key benefits include:

• Improved broadband network speed and capacity
• Flexibility for network evolution
• Cost efficiencies through increased serviceable area size
• Freedom from vendor lock-in
• Accelerated fiber service deployment

Harmonic's cOS platform currently powers broadband services to over 28 million homes worldwide. The company will showcase its solutions at Fiber Connect 2024 in Nashville, Tennessee, July 28-31.

Harmonic (NASDAQ: HLIT) will showcase its latest fiber broadband innovations at Fiber Connect 2024 in Nashville, Tennessee. The company's cOS™ virtualized broadband platform and network edge devices aim to simplify and reduce costs for multigigabit fiber deployments and upgrades.

Key highlights include:

• Streamlining fiber deployments with easy-to-install R-OLT and shelf modules
• Optimizing equipment capital and interoperability through an open approach to ONU/ONT selection
• Enabling future-readiness with a single solution for various PON technologies
• Simplifying QoE end-to-end through multivendor fiber interoperability

Harmonic's cOS platform currently powers next-gen broadband services to over 28 million homes worldwide.

Harmonic (NASDAQ: HLIT) has announced the release date for its second quarter 2024 financial results. The company will disclose its results after the market close on Monday, July 29, 2024, followed by a live webcast at 2:00 p.m. PT to discuss the outcomes. Interested parties can participate 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. Harmonic recommends participants to join at least 15 minutes before the call starts.

Harmonic (NASDAQ: HLIT) has been selected by Germany-based 44p for enhancing its UHD playout, media processing, and distribution capabilities using Harmonic's XOS Advanced Media Processor. This cloud-native software solution offers a comprehensive feature set including advanced playout, AI-powered video compression, and SRT distribution, optimizing 44p's workflow for live sports and entertainment broadcasts. Facilitated by German broadcast system integrator netorium, the deployment aims to future-proof 44p's media processing chain. Harmonic's solution is expected to improve efficiency and video quality while reducing costs for 44p.

Harmonic has launched the Pearl Remote Optical Line Termination (R-OLT) module to simplify fiber broadband service delivery. The innovative product enables operators to accelerate high-speed broadband deployment in various network topologies while reducing costs. With multiple fiber technologies, including GPON, ComboPON, and XGS-PON, the Pearl R-OLT offers industry-leading performance.

Harmonic (NASDAQ: HLIT) will host a Virtual Analyst Day for its Broadband and Video segments, featuring updates on strategic vision, growth drivers, and financial model. The event on June 13, 2024, aims to provide insight into Harmonic's future direction.

Harmonic announced its latest broadband access innovations for fiber and DOCSIS networks at ANGA COM in Germany. The company aims to empower operators with increased speeds, enhanced network reliability, and new revenue opportunities, showcasing solutions for multigigabit internet speeds and improved subscriber retention. Harmonic's cOS platform and new devices promise to boost speeds, simplify network evolutions, and ensure future readiness.