Revenue: As of FY2026 Q2, the actual value is USD 133.46 M, beating the estimate of USD 120.09 M.

EPS: As of FY2026 Q2, the actual value is USD -0.02.

EBIT: As of FY2026 Q2, the actual value is USD 23.63 M.

Harmonic Inc. announced strong Q2 2026 results, with Broadband revenue accelerating to a 54% year-over-year increase, including 44% growth in Rest-of-Market.

Total Company Financial Results (Q2 2026)

• Net Revenue (GAAP) was $173.0 million.
• Operating Profit (GAAP) was $18.4 million.
• Operating Profit (Non-GAAP) was $35.6 million.
• Net Income (Loss) Per Share (GAAP) was - $0.02.
• Net Income (Loss) Per Share (Non-GAAP) was $0.24.

Continuing Operations Financial Results - Broadband (Q2 2026)

• Net Revenue (GAAP) was $133.5 million, compared to $121.7 million in Q1 2026 and $86.9 million in Q2 2025.
• Operating Profit (GAAP) was $23.6 million, compared to $20.4 million in Q1 2026 and - $0.8 million in Q2 2025, including approximately $2.3 million of stranded costs associated with the Video divestiture for Q2 2026.
• Operating Profit (Non-GAAP) was $31.3 million, compared to $26.0 million in Q1 2026 and $7.0 million in Q2 2025.
• Net Income Per Share (GAAP) was $0.16, compared to $0.09 in Q1 2026 and - $0.01 in Q2 2025.
• Net Income Per Share (Non-GAAP) was $0.21, compared to $0.17 in Q1 2026 and $0.03 in Q2 2025.

Other Financial Information (Continuing Operations - Broadband)

• Bookings for Q2 2026 were $144.3 million, compared to $115.9 million in Q1 2026 and $131.0 million in Q2 2025.
• Backlog and Deferred Revenue as of July 3, 2026, reached $587.6 million, representing a 71% increase compared to $344.2 million last year.
• Cash and Cash Equivalents as of July 3, 2026, totaled $231.9 million, compared to $109.0 million at Q1 2026 and $123.9 million at Q2 2025. At December 31, 2025, cash was $124.1 million.

Operational Metrics (Continuing Operations - Broadband)

• The cOS™ solution is commercially deployed with 161 customers, serving 48.2 million CPE devices.
• Rest-of-Market bookings accounted for approximately 60% of total Q2 bookings.
• Harmonic Inc. achieved its first SeaStar MDU deployment and secured multi-million dollar orders for the Pearl-1XL and Oyster+ fiber products.

Discontinued Operations - Video Business

• The sale of the Video business to Leone Media Inc. (d/b/a MediaKind) was completed on June 16, 2026.
• Proceeds from the sale were $137.9 million paid at closing.
• Harmonic Inc. now operates solely as a broadband company.

Cash Flow from Continuing and Discontinued Operations (Six Months Ended)

• Net Cash Provided by Operating Activities was $26,260 thousand for the six months ended July 3, 2026, compared to $71,908 thousand for the six months ended June 27, 2025.
• Net Cash Provided by (Used in) Investing Activities was $128,958 thousand for the six months ended July 3, 2026, compared to - $5,672 thousand for the six months ended June 27, 2025. This included $131,963 thousand in proceeds from divestiture, net of cash retained and transaction costs, for the six months ended July 3, 2026.
• Net Cash Used in Financing Activities was - $45,960 thousand for the six months ended July 3, 2026, compared to - $48,883 thousand for the six months ended June 27, 2025.
• Cash and Cash Equivalents at End of Period were $231,862 thousand at July 3, 2026, compared to $123,918 thousand at June 27, 2025.

Revenue by Geography (Three Months Ended July 3, 2026)

• Americas: $120,603 thousand (91%).
• EMEA: $8,421 thousand (6%).
• APAC: $4,438 thousand (3%).

Revenue by Customer (Three Months Ended July 3, 2026)

• Top 2 Customers: $84,053 thousand (63%).
• Rest-of-Market: $49,409 thousand (37%).

Outlook / Guidance for Continuing Operations - Broadband

Harmonic Inc. has raised its full-year 2026 GAAP financial guidance for net revenue to a range of $505 million to $525 million, with an operating profit between $74 million and $86 million. For Q3 2026, GAAP net revenue is projected to be between $125 million and $135 million, with a gross margin percentage of 51.0% to 52.0%. Non-GAAP operating profit for Q3 2026 is expected to be between $23 million and $28 million, and for the full year 2026, it is anticipated to be between $99 million and $111 million.