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Harmonic Inc - HLIT STOCK NEWS

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.

News

Harmonic to Showcase Fiber-Made-Simple Solutions at FTTH Conference 2024

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Harmonic showcases versatile fiber solutions at FTTH Conference in Berlin, aiming to enhance broadband service delivery and network evolution. The company presents innovative technologies like PON migrations, Open ONU, MDU solutions, always-on broadband service, and virtualized core advantages.
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Millicom Accelerates Fiber Deployments with Harmonic

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Harmonic (HLIT) partners with Millicom (TIGO) to launch XGS-PON fiber-to-the-home broadband, enhancing high-speed internet offerings in Latin America. Millicom leverages Harmonic's cOS platform and hybrid fiber-cable nodes for faster, reliable broadband services.
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Harmonic Announces Fourth Quarter and Fiscal 2023 Results

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Harmonic Inc. (HLIT) reported a record total revenue of $167.1 million, marking a 31% increase quarter over quarter. Broadband revenue increased by 20% and Video SaaS revenue increased by 26% year over year. The company's financial and business highlights, including revenue, gross margin, operating income, net income, and adjusted EBITDA, were presented in detail. Harmonic also provided an update on its Video business review process and gave financial guidance for Q1 2024 and the full year.
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Harmonic Announces Reporting Date for Fourth Quarter and Full Year 2023 Results

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Harmonic (HLIT) will release its Q4 and full year 2023 financial results on January 29, 2024, followed by a live webcast to discuss the results. Participants can join via telephone or webcast, and a replay will be available on the company's Investor Relations website. The live event will take place at 2:00 p.m. PT, with the replay available after 5:00 p.m. PT.
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DOCOMO PACIFIC Deploys New 10G FTTP Service with Harmonic

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Harmonic (HLIT) selected by DOCOMO PACIFIC to deliver 10G broadband services using fiber access solutions, enabling high-speed, reliable FTTP internet for more than 10,000 residents across Guam and the Northern Mariana Islands. Harmonic's cOS virtualized core software and Wharf hardened switch minimize new construction, permitting and building constraints, reducing costs for the service provider.
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Harmonic Announces New $160 Million Credit Facility

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Harmonic Inc. (NASDAQ: HLIT) announced a new five-year, $160 million Credit Facility with a lending syndicate led by Citibank, N.A. The facility replaces the existing $25 million line of credit with JPMorgan Chase Bank, N.A. The Credit Facility includes a $120 million secured revolving loan facility, a $40 million secured delayed draw term loan facility, and an option to request $100 million or more in additional loan commitments under an accordion feature. The CFO, Walter Jankovic, highlighted the increased liquidity, stronger balance sheet, and financial flexibility provided by the facility, supporting the company's multi-year growth plan and ongoing strategic review of the Video business.
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Harmonic to Participate in Upcoming December 2023 Investor Conferences

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Harmonic (HLIT) CFO to participate in fireside chat at Raymond James 2023 TMT and Consumer Conference and investor meetings at Barclays 2023 Global Technology Conference
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Harmonic to Participate in the 17th Annual Needham Virtual Security, Networking, & Communications Conference

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Harmonic (NASDAQ: HLIT) CFO to Participate in Fireside Chat at Needham Virtual Conference
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Okinawa Cable Network Inc. Transforms its Broadband Service with Harmonic

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Harmonic (NASDAQ: HLIT) announced that Okinawa Cable Network Inc. in Japan is using Harmonic's cOS broadband platform to modernize its network, reducing operational expenses and establishing a simple path to 10G fiber-to-the-home. Sumitomo Electric Industries, Ltd. ensured a smooth deployment in a short period of time.
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Harmonic Announces Third Quarter 2023 Results

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Harmonic Inc. reported its unaudited results for Q3 2023, with revenue of $127.2 million, down from $155.7 million in the prior year period. The Video SaaS revenue grew by 42% year over year. The company's cOS solution was deployed with 104 customers, and they are conducting a strategic review of their Video business. Harmonic remains confident in its mid- and long-term growth prospects.
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FAQ

What is the current stock price of Harmonic (HLIT)?

The current stock price of Harmonic (HLIT) is $11.92 as of November 15, 2024.

What is the market cap of Harmonic (HLIT)?

The market cap of Harmonic (HLIT) is approximately 1.4B.

What does Harmonic Inc do?

Harmonic Inc provides video delivery technology and services, enabling media companies and service providers to offer high-quality broadcast and OTT video services globally. The company also specializes in cable access networking solutions.

What are Harmonic Inc's primary business segments?

Harmonic Inc operates in two primary segments: Video, which offers video processing, production, and playout solutions, and Broadband, which focuses on broadband access solutions and related services.

What recent achievements has Harmonic Inc announced?

Harmonic Inc recently showcased AI-powered innovations for live sports streaming, targeted advertising, and broadcast distribution at the 2024 NAB Show.

Who is the new CEO of Harmonic Inc?

Nimrod Ben-Natan will succeed Patrick Harshman as CEO of Harmonic Inc, effective June 2024.

What is the VOS®360 portfolio?

The VOS®360 portfolio is a suite of solutions by Harmonic Inc that includes AI-powered tools for video service providers and broadcasters to enhance monetization and streaming experiences.

What is Harmonic Inc's Beacon intelligent speed maximizer?

The Beacon ISM is an advanced application on Harmonic's cOS™ platform that maximizes upstream and downstream speeds, enhancing network reliability and subscriber experience.

How does Harmonic Inc contribute to broadband networking?

Harmonic Inc revolutionized broadband networking with the industry’s first virtualized broadband solution, enabling flexible deployment of gigabit internet services to homes and mobile devices.

What is the focus of Harmonic Inc's Video business strategy?

Harmonic Inc's Video business strategy aims at driving profitable growth by focusing on scalable market opportunities, streamlining operations, and optimizing cost structures.

How many homes does Harmonic Inc's cOS™ platform support?

Harmonic Inc's cOS™ platform powers next-gen broadband services to over 28 million homes globally.

Where can I find more information about Harmonic Inc?

More information about Harmonic Inc and its solutions is available at www.harmonicinc.com.

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Harmonic Inc

Nasdaq:HLIT

HLIT Rankings

#2257 Ranked by Market Cap
N/A Ranked by Dividends

HLIT Stock Data

1.41B
116.53M
2.31%
95.92%
3.15%
Communication Equipment
Radio & Tv Broadcasting & Communications Equipment
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