For the twelve months ended Oct 2, 2026, Harmonic Inc. reported $502.23M of revenue and -$35.19M of net income.
HLIT revenue was $148.84M in fiscal Q3 2026 (ended Oct 2, 2026), up 64.5% from a year earlier and up 11.5% from the prior quarter. For the full fiscal 2025 it was $360.52M, down 26.2% from fiscal 2024. Compound annual growth was -1.0% over 5 years and -0.4% over 10 years. It rose in 5 of the last 10 fiscal years.
HLIT net income was $14.64M in fiscal Q3 2026 (ended Oct 2, 2026), up 443.4% from a year earlier. For the full fiscal 2025 it was -$43.31M, compared with $39.22M in fiscal 2024.
HLIT diluted EPS was $0.13 in fiscal Q3 2026 (ended Oct 2, 2026), up 550.0% from a year earlier. For the full fiscal 2025 it was -$0.38, compared with $0.33 in fiscal 2024.
HLIT free cash flow was $47.38M in fiscal Q3 2026 (ended Oct 2, 2026), up 125.2% from a year earlier. For the full fiscal 2025 it was $96.89M, up 83.7% from fiscal 2024. Compound annual growth was +69.3% over 5 years. Fiscal 2025 is the highest of the 15 fiscal years on file.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $360.52M | $488.20M | $388.48M | $624.96M | $507.15M | $378.83M | $402.87M | $403.56M | $358.25M | $405.91M |
| Cost of revenue | $185.78M | $248.09M | $210.36M | $309.07M | $247.41M | $183.83M | $179.86M | $194.35M | $188.43M | $205.16M |
| Gross profit | $174.75M | $240.11M | $178.12M | $315.88M | $259.74M | $195.00M | $223.01M | $209.21M | $169.82M | $200.75M |
| Research and development | $76.33M | $72.57M | $69.71M | $120.31M | $102.23M | $82.49M | $84.61M | $89.16M | $95.98M | $98.40M |
| Selling, general and admin | $81.38M | $79.17M | $78.27M | $146.72M | $138.09M | $119.61M | $119.03M | $118.95M | $136.27M | $144.38M |
| Operating income | $14.08M | $74.73M | $30.03M | $45.52M | $18.81M | -$12.45M | $13.08M | -$5.01M | -$70.88M | -$67.04M |
| Interest expense | $3.80M | $6.46M | $2.03M | $5.04M | $10.63M | $11.51M | $11.65M | $11.40M | - | - |
| Pre-tax income | $8.86M | $71.54M | $27.84M | $44.48M | $8.87M | -$26.22M | -$6.60M | -$16.95M | -$84.71M | -$80.43M |
| Income tax | $7.64M | $20.82M | -$60.49M | $16.30M | -$4.38M | $3.05M | -$672.0K | $4.09M | -$1.75M | -$8.12M |
| Net income | -$43.31M | $39.22M | $83.99M | $28.18M | $13.25M | -$29.27M | -$5.92M | -$21.04M | -$82.95M | -$72.31M |
| EPS, basic | -$0.38 | $0.34 | $0.75 | $0.27 | $0.13 | -$0.30 | -$0.07 | -$0.25 | -$1.02 | -$0.93 |
| EPS, diluted | -$0.38 | $0.33 | $0.72 | $0.25 | $0.12 | -$0.30 | -$0.07 | -$0.25 | -$1.02 | -$0.93 |
| Diluted shares | 114.2M | 117.5M | 117.4M | 112.4M | 106.2M | 97.0M | 89.6M | 85.6M | 81.0M | 77.7M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $124.11M | $101.79M | $84.27M | $89.59M | $133.43M | $98.64M | $93.06M | $65.99M | $58.76M | $57.42M |
| Short-term investments | - | - | - | $0 | - | - | - | - | - | - |
| Receivables | $85.94M | $143.72M | $141.53M | $108.43M | $88.53M | $66.23M | $88.50M | $81.80M | $69.84M | $86.77M |
| Inventory | $47.84M | $43.06M | $83.98M | $120.95M | $71.19M | $35.03M | $29.04M | $25.64M | $25.98M | $41.19M |
| Current assets | $494.37M | $565.14M | $330.73M | $345.30M | $323.13M | $238.03M | $251.36M | $196.70M | $171.78M | $216.84M |
| Goodwill | $60.90M | $60.77M | $60.78M | $237.74M | $240.21M | $243.67M | $239.78M | $240.62M | $242.83M | $237.28M |
| Total assets | $718.48M | $796.51M | $768.21M | $710.02M | $693.69M | $591.52M | $587.33M | $510.83M | $508.06M | $554.07M |
| Current liabilities | $197.95M | $192.28M | $272.39M | $322.07M | $224.46M | $147.29M | $191.90M | $136.41M | $142.09M | $144.90M |
| Short-term debt | $2.94M | $2.19M | - | - | - | - | - | - | - | - |
| Long-term debt | $109.14M | $112.08M | $0 | - | - | - | $10.51M | $12.68M | $15.34M | $13.91M |
| Total debt | $112.08M | $114.28M | $0 | $15.92M | $17.98M | $21.84M | $10.51M | $12.68M | $15.34M | $13.91M |
| Total liabilities | $335.24M | $331.25M | $331.33M | $385.51M | $396.89M | $333.22M | $332.47M | $282.58M | $289.72M | $283.43M |
| Shareholders' equity | $383.25M | $465.26M | $436.87M | $324.51M | $295.91M | $258.30M | $252.45M | $228.25M | $229.77M | $270.64M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $107.97M | $61.92M | $7.06M | $5.48M | $41.02M | $39.16M | $31.30M | $12.28M | $3.06M | $438.0K |
| Capital expenditures | $11.08M | $9.19M | $8.47M | $9.25M | $12.97M | $32.20M | $10.33M | $7.04M | $11.40M | $15.11M |
| Free cash flow | $96.89M | $52.73M | -$1.42M | -$3.77M | $28.04M | $6.96M | $20.97M | $5.24M | -$8.34M | -$14.67M |
| Investing cash flow | -$11.08M | -$9.19M | -$8.47M | -$1.29M | -$12.97M | -$32.20M | -$10.33M | -$6.94M | -$4.50M | -$69.73M |
| Financing cash flow | -$81.39M | -$33.27M | -$4.99M | -$43.13M | $7.94M | -$2.11M | $6.30M | $2.65M | $895.0K | -$152.0K |
| Dividends paid | - | $0 | $0 | $0 | $0 | $0 | $0 | $0 | - | - |
| Share repurchases | $79.03M | $30.05M | $0 | $5.13M | $0 | $0 | - | - | $0 | $0 |
| Stock-based compensation | $31.88M | $28.07M | $27.33M | $25.21M | $24.06M | $18.04M | $12.07M | $17.29M | $16.61M | $13.06M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -26.2% | 25.7% | -37.8% | 23.2% | 33.9% | -6.0% | -0.2% | 12.6% | -11.7% | 7.7% |
| Net income growth, YoY | - | -53.3% | 198.0% | 112.6% | - | - | - | - | - | - |
| EPS growth, YoY | - | -54.2% | 188.0% | 108.3% | - | - | - | - | - | - |
| Gross margin | 48.5% | 49.2% | 45.9% | 50.5% | 51.2% | 51.5% | 55.4% | 51.8% | 47.4% | 49.5% |
| Operating margin | 3.9% | 15.3% | 7.7% | 7.3% | 3.7% | -3.3% | 3.2% | -1.2% | -19.8% | -16.5% |
| Net margin | -12.0% | 8.0% | 21.6% | 4.5% | 2.6% | -7.7% | -1.5% | -5.2% | -23.2% | -17.8% |
| Free cash flow margin | 26.9% | 10.8% | -0.4% | -0.6% | 5.5% | 1.8% | 5.2% | 1.3% | -2.3% | -3.6% |
| Return on equity | -11.3% | 8.4% | 19.2% | 8.7% | 4.5% | -11.3% | -2.3% | -9.2% | -36.1% | -26.7% |
| Return on assets | -6.0% | 4.9% | 10.9% | 4.0% | 1.9% | -4.9% | -1.0% | -4.1% | -16.3% | -13.1% |
| Current ratio | 2.50 | 2.94 | 1.21 | 1.07 | 1.44 | 1.62 | 1.31 | 1.44 | 1.21 | 1.50 |
| Debt to equity | 0.29 | 0.25 | 0.00 | 0.05 | 0.06 | 0.08 | 0.04 | 0.06 | 0.07 | 0.05 |
| Line item | Oct 2, 2026 | Jul 3, 2026 | Apr 3, 2026 | Dec 31, 2025 | Sep 26, 2025 | Jun 27, 2025 | Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $148.84M | $133.46M | $121.69M | $98.23M | $90.49M | $86.92M | $84.88M | $31.64M | $195.76M | $138.74M | $122.06M | - |
| Cost of revenue | $71.72M | $63.57M | $58.08M | $52.05M | $48.19M | $47.13M | $38.40M | $32.81M | $91.02M | $65.28M | $58.98M | $224.0K |
| Gross profit | $77.12M | $69.89M | $63.62M | $46.18M | $42.30M | $39.79M | $46.48M | -$1.16M | $104.73M | $73.46M | $63.08M | -$52.56M |
| Research and development | $23.56M | $21.20M | $20.88M | $19.97M | $18.70M | $17.99M | $19.66M | -$16.99M | $30.07M | $28.78M | $30.70M | -$26.32M |
| Selling, general and admin | $27.30M | $24.63M | $22.29M | $22.44M | $18.68M | $20.48M | $19.78M | -$35.37M | $35.85M | $39.82M | $38.87M | -$43.03M |
| Operating income | $26.16M | $23.63M | $20.45M | $3.77M | $4.03M | -$754.0K | $7.04M | $64.47M | $35.42M | -$15.63M | -$9.53M | $17.49M |
| Interest expense | - | $1.08M | $1.08M | -$112.0K | $1.18M | $1.09M | $1.31M | $1.63M | $2.69M | $1.42M | $723.0K | -$98.0K |
| Pre-tax income | $25.80M | $21.97M | $19.33M | $3.32M | $3.47M | -$3.04M | $5.10M | $69.70M | $28.81M | -$16.43M | -$10.54M | $17.52M |
| Income tax | $7.71M | $4.92M | $9.68M | $3.10M | $3.98M | -$2.18M | $2.73M | $20.08M | $7.09M | -$3.90M | -$2.45M | -$70.67M |
| Net income | $14.64M | -$2.32M | $7.31M | -$54.81M | $2.69M | $2.87M | $5.94M | $38.12M | $21.72M | -$12.53M | -$8.09M | $83.84M |
| EPS, basic | $0.13 | -$0.02 | $0.07 | -$0.48 | $0.02 | $0.03 | $0.05 | $0.33 | $0.19 | -$0.11 | -$0.07 | $0.75 |
| EPS, diluted | $0.13 | -$0.02 | $0.07 | -$0.48 | $0.02 | $0.03 | $0.05 | $0.32 | $0.19 | -$0.11 | -$0.07 | $0.73 |
| Diluted shares | 110.3M | 109.7M | 110.6M | - | 113.0M | 113.4M | 117.0M | - | 117.4M | 115.0M | 112.3M | - |
| Line item | Oct 2, 2026 | Jul 3, 2026 | Apr 3, 2026 | Dec 31, 2025 | Sep 26, 2025 | Jun 27, 2025 | Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $142.84M | $231.86M | $109.00M | $124.11M | $127.38M | $123.92M | $148.71M | $101.79M | $58.17M | $45.85M | $84.31M | $84.27M |
| Receivables | $117.11M | $89.91M | $83.50M | $85.94M | $104.54M | $120.67M | $98.57M | $143.72M | $173.73M | $120.00M | $105.85M | $141.53M |
| Inventory | $94.83M | $66.47M | $51.20M | $47.84M | $68.60M | $71.14M | $62.05M | $43.06M | $73.86M | $84.13M | $86.63M | $83.98M |
| Current assets | $379.63M | $417.19M | $485.25M | $494.37M | $327.03M | $342.86M | $340.69M | $565.14M | $336.37M | $284.55M | $300.81M | $330.73M |
| Goodwill | $64.59M | $61.09M | $60.88M | $60.90M | $241.77M | $241.72M | $238.20M | $60.77M | $239.60M | $237.88M | $238.29M | $60.78M |
| Total assets | $589.10M | $632.64M | $705.31M | $718.48M | $758.60M | $783.35M | $773.75M | $796.51M | $759.86M | $713.70M | $740.67M | $768.21M |
| Current liabilities | $156.16M | $136.93M | $214.24M | $197.95M | $157.10M | $172.21M | $165.22M | $192.28M | $161.66M | $151.90M | $274.82M | $272.39M |
| Short-term debt | $2.94M | $2.94M | $2.94M | $2.94M | $2.94M | $2.69M | - | $2.19M | - | - | - | - |
| Long-term debt | $31.93M | $107.67M | $108.40M | $109.14M | $109.88M | $110.61M | $111.35M | $112.08M | $112.82M | $113.81M | - | $0 |
| Total debt | $34.88M | $110.61M | $111.35M | $112.08M | $112.82M | $113.31M | $111.35M | $114.28M | $112.82M | $113.81M | - | $0 |
| Total liabilities | $213.55M | $272.30M | $350.15M | $335.24M | $315.58M | $336.94M | $327.62M | $331.25M | $330.92M | $320.89M | $331.52M | $331.33M |
| Shareholders' equity | $375.56M | $360.35M | $355.15M | $383.25M | $443.01M | $446.40M | $446.13M | $465.26M | $428.94M | $392.81M | $409.15M | $436.87M |
| Line item | Oct 2, 2026 | Jul 3, 2026 | Apr 3, 2026 | Dec 31, 2025 | Sep 26, 2025 | Jun 27, 2025 | Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $50.21M | -$57.95M | $31.69M | $12.29M | $23.77M | -$11.70M | $83.61M | $48.53M | $8.72M | -$22.15M | $26.82M | $6.27M |
| Capital expenditures | $2.83M | $1.61M | $1.40M | $2.68M | $2.73M | $3.80M | $1.87M | $2.35M | $2.98M | $1.95M | $1.91M | $2.73M |
| Free cash flow | $47.38M | -$59.56M | $30.29M | $9.61M | $21.04M | -$15.50M | $81.73M | $46.19M | $5.74M | -$24.10M | $24.91M | $3.54M |
| Investing cash flow | -$4.63M | $130.36M | -$1.40M | -$2.68M | -$2.73M | -$3.80M | -$1.87M | -$2.35M | -$2.98M | -$1.95M | -$1.91M | $3.58M |
| Financing cash flow | -$173.39M | $90.51M | -$44.55M | -$14.76M | -$17.75M | -$12.81M | -$36.07M | -$1.29M | $2.94M | -$11.05M | -$23.87M | -$2.01M |
| Share repurchases | $3.63M | -$1.0K | $42.95M | $13.27M | $15.65M | $14.02M | $36.08M | $0 | $0 | $8.37M | $21.68M | $0 |
| Stock-based compensation | $6.06M | $11.66M | $9.81M | $8.40M | $7.32M | $7.70M | $8.46M | $8.49M | $5.71M | $6.95M | $6.92M | $6.61M |
| Line item | Oct 2, 2026 | Jul 3, 2026 | Apr 3, 2026 | Dec 31, 2025 | Sep 26, 2025 | Jun 27, 2025 | Mar 28, 2025 | Dec 31, 2024 | Sep 27, 2024 | Jun 28, 2024 | Mar 29, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 64.5% | 53.5% | 43.4% | 210.4% | -53.8% | -37.4% | -30.5% | - | 53.9% | -11.0% | -22.6% | - |
| Net income growth, YoY | 443.4% | - | 23.0% | - | -87.6% | - | - | -54.5% | - | - | - | 1267.5% |
| EPS growth, YoY | 550.0% | - | 40.0% | - | -89.5% | - | - | -56.2% | - | - | - | 1725.0% |
| Gross margin | 51.8% | 52.4% | 52.3% | 47.0% | 46.7% | 45.8% | 54.8% | -3.7% | 53.5% | 52.9% | 51.7% | - |
| Operating margin | 17.6% | 17.7% | 16.8% | 3.8% | 4.5% | -0.9% | 8.3% | 203.7% | 18.1% | -11.3% | -7.8% | - |
| Net margin | 9.8% | -1.7% | 6.0% | -55.8% | 3.0% | 3.3% | 7.0% | 120.5% | 11.1% | -9.0% | -6.6% | - |
| Free cash flow margin | 31.8% | -44.6% | 24.9% | 9.8% | 23.2% | -17.8% | 96.3% | 146.0% | 2.9% | -17.4% | 20.4% | - |
| Current ratio | 2.43 | 3.05 | 2.26 | 2.50 | 2.08 | 1.99 | 2.06 | 2.94 | 2.08 | 1.87 | 1.09 | 1.21 |
| Debt to equity | 0.09 | 0.31 | 0.31 | 0.29 | 0.25 | 0.25 | 0.25 | 0.25 | 0.26 | 0.29 | - | 0.00 |
Source: XBRL data Harmonic Inc. files with the SEC, latest filing dated Nov 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| HLIT | $502.23M | +70.9% | -$35.19M | -7.0% | $1.04B |
| QCOM | $43.12B | -2.6% | $13.63B | 31.6% | $176.99B |
| MSI | $12.60B | +11.4% | $2.08B | 16.5% | $85.07B |
| NOK | €19.89B | +3.5% | €651.00M | 3.3% | $43.99B |
| UI | $3.57B | +29.4% | $1.07B | 30.1% | $35.87B |
| ERIC | SEK 236.68B | -4.5% | SEK 28.43B | 12.0% | $34.57B |
| PL | $378.28M | +44.1% | -$359.87M | -95.1% | $4.56B |
| ONDS | $174.10M | +979.3% | $167.06M | 96.0% | $3.11B |
| VISN | $1.63B | +10.9% | $8.19B | 504.0% | $1.27B |