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    HARMONIC (HLIT)

    Harmonic Inc. (NASDAQ: HLIT) is a global technology leader specializing in broadband and video delivery solutions. The company provides innovative software-based platforms and services that enable broadband operators and media companies to deliver high-speed internet and high-quality video experiences to consumers. Harmonic's offerings include broadband access solutions, video processing systems, and cloud-based video delivery platforms.

    1. Broadband Segment - Provides broadband access solutions, including the cOS™ (formerly CableOS) software-based platform, enabling operators to deploy high-speed internet services efficiently. Supports data, voice, and video services for connected devices and applications.

      • cOS™ Platform - A virtualized broadband solution designed to meet increasing bandwidth demands from streaming, video-on-demand, and interactive applications.
    2. Video Segment - Delivers video processing, production, and playout solutions for cable operators, satellite and telco Pay-TV providers, and media companies. Offers software, hardware, and SaaS subscriptions for creating and delivering broadcast and streaming video services.

      • SaaS Video Solutions - Cloud-based platforms that simplify over-the-top (OTT) video delivery and help monetize live and on-demand content across various devices.

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    NamePositionExternal RolesShort Bio

    Neven Haltmayer

    Executive

    Senior Vice President, Video R&D

    None

    Neven Haltmayer joined Harmonic in 2002 and has played a pivotal role in the development of Harmonic's video technology.

    Nimrod Ben-Natan

    Executive

    President and Chief Executive Officer

    None

    Nimrod Ben-Natan joined Harmonic in 1996 and has been a key driving force in the advancement of next-generation broadband networks. He became CEO on June 11, 2024.

    View Report →

    Walter Jankovic

    Executive

    Chief Financial Officer

    None

    Walter Jankovic joined Harmonic as CFO on May 22, 2023. He has extensive experience in finance and leadership roles in the technology sector.

    Dana Crandall

    Board

    Director

    None

    Dana Crandall was nominated to the board in 2024 and has over 30 years of experience in technology leadership roles.

    David Krall

    Board

    Director

    Strategic Advisor at Roku, Inc. and Universal Audio, Inc.; Board Chair at Audinate Pty Ltd.; Director at Progress Software Corporation

    David Krall has been a director since February 2018 and has extensive experience in the digital media industry.

    Deborah L. Clifford

    Board

    Director

    CFO of Autodesk

    Deborah L. Clifford has been a director since October 2018 and is currently the CFO of Autodesk, responsible for finance and sustainability.

    Patrick Gallagher

    Board

    Chairperson of the Board

    Lead Independent Director at Ciena Corporation

    Patrick Gallagher has been a director since October 2007 and Chairperson since April 2013. He has over 30 years of experience in the telecom industry.

    Stephanie Copeland

    Board

    Director

    Founder and Managing Partner at Four Points Funding LLC; Board Member at Tilson Technology Management, Inc.

    Stephanie Copeland was nominated as a director in 2024 and has over 30 years of experience in the telecom and broadband industries.

    1. Your two largest customers, Comcast and Charter, have announced bullish spending plans for network upgrades, yet your guidance anticipates a decline in broadband revenue for 2025; can you explain the disconnect and how their spending plans impact your revenue outlook?

    2. Given the additional demand forecast reductions from your broadband customers in January, what specific steps are you taking to mitigate the impact on your 2025 financial performance and to address potential further delays in Unified DOCSIS 4.0 deployments?

    3. With the anticipated increase in broadband operating expenses in 2025 despite declining broadband revenue, can you elaborate on how investing in Rest of World customer growth will drive profitability and justify the higher OpEx?

    4. As you note that the transition to Unified DOCSIS 4.0 is causing deployment delays and ecosystem dependencies, what assurances do you have that these challenges will not extend beyond 2025 and further impact your long-term growth trajectory?

    5. Considering that your Q4 book-to-bill ratio was 0.7, significantly below the historical benchmark, how do you plan to manage inventory and supply chain risks associated with a potential mismatch between bookings and revenue recognition, especially given the uncertainties in customer deployment schedules?

    Program DetailsProgram 1Program 2
    Approval DateFebruary 2022 Q4 2024
    End Date/DurationFebruary 2025 Three years
    Total Additional Amount$100 million $200 million
    Remaining Amount$64.8 million N/A
    DetailsN/AReturn capital to shareholders; funded by free cash flow and liquidity

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Thomson Video Networks

    2016

    Recent press releases and 8-K filings for HLIT.

    Harmonic Inc. Reports Strong Q2 2025 Results and Provides Q3 2025 Guidance
    ·$HLIT
    Earnings
    Guidance Update
    Share Buyback
    • Harmonic Inc. reported strong second quarter 2025 financial results, with total revenue of $138 million and EPS of $0.09 per share, exceeding guidance in both its broadband and video segments.
    • The Broadband segment generated $86.9 million in revenue, driven by a record quarter in fiber and significant growth in rest of world markets. The Video segment contributed $51.1 million in revenue, with SaaS streaming revenue reaching a record $15.4 million.
    • The company expects revenue growth to resume in 2026, supported by Unified DOCSIS 4.0 adoption and customer ramps. For Q3 2025, total company EPS is projected to be in the range of $0.02 to $0.07. Harmonic also repurchased an additional $14 million of common shares in Q2, bringing total repurchases under the current program to $50.1 million.
    Jul 29, 2025, 12:40 AM
    H2O America Reports Strong Q2 2025 Results and Reaffirms 2025 EPS Outlook
    ·$HLIT
    Earnings
    Guidance Update
    M&A
    • H2O America reported strong financial results for Q2 2025, with net income rising 19% to $24.7 million and diluted EPS increasing 11% to $0.71. Adjusted net income for Q2 2025 was $26.2 million, a 23% increase year-over-year, with adjusted diluted EPS of $0.75, up 14%.
    • The company reaffirmed its 2025 EPS outlook between $2.90 and $3.00 and declared a quarterly dividend increase, continuing its 57-year streak of dividend growth.
    • H2O America agreed to acquire Quadvest's assets in the rapidly growing Houston area, where active connections increased by 7% between December 31, 2024, and June 30, 2025. The company also invested $207.2 million year-to-date in infrastructure, on track for a full-year capital expenditure target of $473 million.
    Jul 28, 2025, 11:15 PM
    Harmonic sets DOCSIS 4.0 downstream speed record
    ·$HLIT
    Product Launch
    New Projects/Investments
    • Harmonic announced a record-breaking demonstration at the CableLabs® Interop event on July 8, 2025, establishing a new industry benchmark for DOCSIS® 4.0 performance.
    • Harmonic's cOS™ virtualized broadband platform achieved 14 Gbps of downstream throughput across a multi-vendor network, significantly surpassing the 10 Gbps DOCSIS 4.0 benchmark target.
    • The cOS platform is the industry's first solution to unify both modes of DOCSIS 4.0 technology—Full Duplex (FDX) and Frequency Division Duplex (FDD).
    • According to Dell'Oro Group, Harmonic is the market share leader in cable broadband equipment, virtual CMTS, and DAA.
    Jul 8, 2025, 12:00 PM
    Harmonic Inc Reports Q1 2025 Earnings & Record Q4 2024 Results
    ·$HLIT
    Earnings
    Guidance Update
    Share Buyback
    Revenue Acceleration/Inflection
    • Achieved Record Q4 2024 with total net revenue of $222.2M, broadband revenue of $171.0M, and EPS of $0.45 .
    • Reported Q1 2025 revenue reached $133.1M, with Broadband at $84.9M and Video at $48.3M .
    • Delivered robust profitability with a GAAP gross margin of 59.0% (up from 51.7% YoY) and GAAP net income of $5.9M .
    • Executed $36M in share repurchases, repurchasing ~3.5M shares for $36.1M, and launched a new $200M stock repurchase program .
    • Maintained strong liquidity with cash balances around $149M and expects robust free cash flow over the next three years .
    • Provided forward guidance with consolidated Q2 revenue expected between $120M and $135M, while addressing near-term headwinds including tariff-related uncertainty and supply chain challenges, and targeting revenue rebound in 2026 with a focus on DOCSIS 4.0 and Fiber solutions .
    Apr 28, 2025, 9:00 PM