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Mar 28, 2025
Harmonic Q1 2025 Earnings Report
Harmonic announced its unaudited results for the first quarter of 2025, reporting revenue of $133.1 million and GAAP net income of $5.9 million.
Key Takeaways
Harmonic exceeded expectations in Q1 2025, driven by strong performance in both Broadband and Video segments, with notable improvements in gross margins and profitability. The company ended the quarter with a robust cash balance and a significant backlog.
Revenue for Q1 2025 was $133.1 million, an increase from $122.1 million in the prior year period.
GAAP gross margin improved to 59.0% and Non-GAAP gross margin rose to 59.4% in Q1 2025, compared to 51.7% and 52.5% respectively in Q1 2024.
GAAP net income for Q1 2025 was $5.9 million ($0.05 per diluted share), a significant improvement from a net loss of $8.1 million ($0.07 per diluted share) in Q1 2024.
Non-GAAP net income for Q1 2025 was $13.4 million ($0.11 per diluted share), up from $0.4 million ($0.00 per diluted share) in Q1 2024.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For Q2 2025, Harmonic expects GAAP net revenue between $120 million and $135 million, with a GAAP net loss ranging from $5 million to $1 million. Non-GAAP net income is projected between $0 million and $4 million.
Positive Outlook
- Expected Non-GAAP net income per share between $0.00 and $0.04.
- Anticipated Non-GAAP gross margin between 51.1% and 52.0%.
- Projected Non-GAAP Adjusted EBITDA between $4 million and $10 million.
- Broadband revenue expected between $75 million and $85 million.
- Video revenue expected between $45 million and $50 million.
Challenges Ahead
- Anticipated GAAP net loss between $5 million and $1 million.
- Expected GAAP net loss per share between $0.04 and $0.01.
- GAAP gross margin expected between 50.8% and 51.9%.
- GAAP operating income expected to be a loss between $6 million and $0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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