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Jun 26, 2020
Harmonic Q2 2020 Earnings Report
Harmonic executed well, exceeding expectations despite challenging market conditions
Key Takeaways
Harmonic reported a revenue of $74.0 million, a decrease of 12.8% year over year, but Cable Access segment revenue was up over 100% year over year. The company's SaaS and service revenue grew by 4.3% year over year, and the Video SaaS customer base increased to 66 customers, up 136% year over year.
Revenue was $74.0 million, down 12.8% year over year.
SaaS and service revenue was $31.8 million, up 4.3% year over year.
Cable Access segment revenue was $26.5 million, up 100% year over year.
GAAP net loss per share was $0.16 cents and non-GAAP net loss per share was $0.06 cents.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Harmonic provided financial guidance for Q3 2020 and Q4 2020, including GAAP net revenue, gross margins, operating expenses, operating income (loss), tax expense, EPS, non-GAAP revenue, gross margins, operating expenses, operating income (loss), Adjusted EBITDA, non-GAAP tax rate and non-GAAP EPS and cash.
Positive Outlook
- Q3 2020 Net Revenue: $75.0 to $87.0 million
- Q3 2020 Gross Margin %: 50.0% to 51.5%
- Q4 2020 Net Revenue: $122.0 to $142.0 million
- Q4 2020 Gross Margin %: 50.0% to 53.0%
- 2020 Net Revenue: $349.5 to $381.5 million
Challenges Ahead
- Q3 2020 Operating Income (Loss): $(14.5) to $(5.5) million
- Q3 2020 EPS: $(0.19) to $(0.10)
- Q4 2020 Operating Income (Loss): $11.0 to $21.0 million
- Q4 2020 EPS: $0.07 to $0.17
Historical Earnings Impact
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Avg. Return Before/After Earnings
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