Harmonic Inc. income statement
In fiscal 2025, Harmonic Inc. reported revenue of $361m, down 26.2% on the year before, operating income of $14.1m (a 3.9% margin) and net income of −$43.3m, or −$0.38 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJul 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 320 | 423 | 491 | 477 | 462 | 434 | 377 | 406 | 358 | 404 | 403 | 379 | 507 | 625 | 388 | 488 | 361 | 345 |
| Cost of revenue | 185 | 228 | 254 | 256 | 241 | 221 | 174 | 205 | 188 | 194 | 180 | 184 | 247 | 309 | 210 | 248 | 186 | 189 |
| Gross profit | 134 | 195 | 237 | 221 | 220 | 212 | 203 | 201 | 170 | 209 | 223 | 195 | 260 | 316 | 178 | 240 | 175 | 156 |
| Research and development | 61 | 77 | 99 | 103 | 100 | 93 | 88 | 98 | 96 | 89 | 85 | 82 | 102 | 120 | 70 | 73 | 76 | 58 |
| Selling, general and administrative | 81 | 108 | 127 | 127 | 134 | 131 | 121 | 144 | 136 | 119 | 119 | 120 | 138 | 147 | 78 | 79 | 81 | 53 |
| Operating income | −12 | 5 | 2 | −18 | −23 | −22 | −13 | −67 | −71 | −5 | 13 | −12 | 19 | 46 | 30 | 75 | 14 | 44 |
| Interest expense | — | — | — | — | — | — | 0 | 10 | 11 | 11 | 12 | 12 | 11 | 5 | 3 | 6 | 4 | 3 |
| Income before tax | −10 | 5 | 1 | −18 | −23 | −22 | −16 | −80 | −85 | −17 | −7 | −26 | 9 | 44 | 28 | 72 | 9 | 39 |
| Income tax | 14 | 10 | −1 | −2 | −45 | 24 | −0 | −8 | −2 | 4 | −1 | 3 | −4 | 16 | −60 | 21 | 8 | 20 |
| Net income | −24 | −4 | 9 | −11 | 37 | −46 | −16 | −72 | −83 | −21 | −6 | −29 | 13 | 28 | 84 | 39 | −43 | −47 |
| Diluted EPS | −$0.25 | −$0.04 | $0.08 | −$0.09 | $0.34 | −$0.50 | −$0.18 | −$0.93 | −$1.02 | −$0.25 | −$0.07 | −$0.30 | $0.12 | $0.25 | $0.72 | $0.33 | −$0.38 | −$0.42 |
| Diluted shares (average) | 96m | 101m | 116m | 116m | 108m | 93m | 88m | 78m | 81m | 86m | 90m | 97m | 106m | 112m | 117m | 117m | 114m | 112m |
| EBITDA | −3 | 15 | 15 | −3 | −6 | −5 | 0 | −48 | −56 | 8 | 24 | −1 | 31 | 58 | 42 | 87 | 25 | 55 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Apr 2026 | 2026 Q2Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 196 | 32 | 85 | 87 | 142 | −53 | 122 | 133 |
| Cost of revenue | 91 | 33 | 38 | 47 | 65 | 2 | 58 | 64 |
| Gross profit | 105 | −1 | 46 | 40 | 77 | −55 | 64 | 70 |
| Research and development | 30 | −17 | 20 | 18 | 30 | −14 | 21 | 21 |
| Selling, general and administrative | 36 | −35 | 20 | 20 | 37 | −30 | 22 | 25 |
| Operating income | 35 | 64 | 7 | −1 | 10 | −10 | 20 | 24 |
| Interest expense | 3 | 2 | 1 | 1 | 1 | −0 | 1 | 1 |
| Income before tax | 29 | 70 | 5 | −3 | 9 | −11 | 19 | 22 |
| Income tax | 7 | 20 | 3 | −2 | 6 | −1 | 10 | 5 |
| Net income | 22 | 38 | 6 | 3 | 3 | −55 | 7 | −2 |
| Diluted EPS | $0.19 | $0.32 | $0.05 | $0.03 | $0.02 | −$0.48 | $0.07 | −$0.02 |
| EBITDA | 38 | 67 | 10 | 2 | 13 | −7 | 23 | 26 |
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