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Dec 31, 2023
Harmonic Q4 2023 Earnings Report
Harmonic's Q4 2023 performance was solid, with record total company and Broadband revenue, driven by strong demand.
Key Takeaways
Harmonic Inc. reported record quarterly total revenue of $167.1 million, a 31% increase quarter over quarter. Broadband revenue increased by 20%, and Video SaaS revenue increased by 26% year over year. The company's robust backlog positions it well for future growth.
Harmonic achieved record quarterly total revenue of $167.1 million.
Broadband segment revenue reached $115.2 million, while Video segment revenue was $51.9 million.
GAAP net income was $83.8 million, or $0.72 per share, and non-GAAP net income was $14.7 million, or $0.13 per share.
The company commercially deployed its cOS™ solution with 108 customers, serving 26.3 million cable modems.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Harmonic provided financial guidance for Q1 2024 and full year 2024.
Positive Outlook
- Q1 2024 GAAP net revenue is expected to be between $110 million and $130 million.
- Q1 2024 Non-GAAP gross margin is expected to be between 51.1% and 52.4%.
- Full year 2024 GAAP net revenue is projected to be between $655 million and $710 million.
- Full year 2024 GAAP net income is anticipated to be between $31 million and $57 million.
- Full year 2024 Non-GAAP diluted net income per share is expected to be between $0.49 and $0.72.
Challenges Ahead
- Q1 2024 GAAP net loss is projected to be between $13 million and $5 million.
- Q1 2024 Non-GAAP net loss per share is expected to be between $(0.06) and $0.02.
- Q1 2024 Video segment adjusted EBITDA is expected to be between $(8) million and $(2) million.
- Full year 2024 Video segment adjusted EBITDA is projected to be between $(7) million and $2 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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