Loading...
•
Sep 27, 2024
Harmonic Q3 2024 Earnings Report
Achieved record revenue and Adjusted EBITDA, with Broadband and Video revenue exceeding expectations.
Key Takeaways
Harmonic Inc. reported strong Q3 2024 results with record total company revenue of $195.8 million, up 54% year over year, and Adjusted EBITDA of $43.4 million. Broadband revenue increased by 92% year over year, while Video returned to profitability with greater than 10% Adjusted EBITDA margin.
Achieved record total company revenue.
Broadband revenue increased 92% year over year.
Video returned to profitability with greater than 10% Adjusted EBITDA margin.
Commercially deployed cOSTM solution with 121 customers, serving 32.0 million cable modems.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company provided financial guidance for Q4 2024, with GAAP net revenue expected to be between $205 million and $220 million and GAAP net income per share between $0.26 and $0.31. For the full year 2024, GAAP net revenue is projected to be between $662 million and $677 million, with GAAP net income per share between $0.27 and $0.32.
Positive Outlook
- GAAP net revenue for Q4 2024 is expected to be between $205 million and $220 million.
- GAAP gross margin for Q4 2024 is expected to be between 55.4% and 56.7%.
- GAAP net income per share for Q4 2024 is projected to be between $0.26 and $0.31.
- GAAP net revenue for full year 2024 is projected to be between $662 million and $677 million.
- GAAP net income per share for full year 2024 is expected to be between $0.27 and $0.32.
Challenges Ahead
- Stock-based compensation expense is expected to impact GAAP to Non-GAAP adjustments.
- Tax effect of non-GAAP adjustments is expected.
- Operating expenses are expected to be between $70 million and $73 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
Loading earnings performance data...
Loading earnings reaction data...