Filing Flows

Filing Flows › Technology › Harmonic (HLIT)

Harmonic (HLIT) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Harmonic (HLIT) Q3 2026 earnings results →

Q3 2026 Revenue up 64% year over year to $149M · 10¢ of every $1 of revenue kept as net profit · operating margin 17.6%

Harmonic made $149M in Q3 2026 (+64% Y/Y): Appliance Integration $137M, Saa S Service $11.7M. Operating margin 17.6%, net earnings $14.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.

Revenue$149M
Year over year+64%
Operating margin17.6%
Net earnings$14.6M
Operating cash flow$50.2M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $148.8M in Q3 2026, up 64% year over year and up 12% from the previous quarter. Product was the largest line at 79% of revenue. Product added $44.7M year over year (up 62%), 77% of the total change. Saa S Service declined 19%.

Gross margin was 51.8%, up 5.1 points from Q3 2025. Operating profit was $26.2M, a 17.6% margin (up 13.1 points year over year). Of the extra revenue versus Q3 2025, 38% reached operating profit, above the 4% margin then. Operating expenses grew 33% against revenue growth of 64%. The fastest-growing cost line was SG&A (+46%). Net earnings were $14.6M, up 443% year over year. The effective tax rate was 34.5%.

Operating cash flow was $50.2M (up 111% year over year), 343% of net earnings. Non-cash charges added back $3.1M of depreciation and $6.1M of share-based compensation. Working capital and other items added $26.4M. Capital expenditures of $2.8M left free cash flow of $47.4M.

Quarterly history

Harmonic revenue by quarterHarmonic revenue by quarter$133MQ1 2025$138MQ2 2025$142MQ3 2025$122MQ1 2026$133MQ2 2026$149MQ3 2026
Harmonic net earnings by quarterHarmonic net earnings by quarter$5.9MQ1 2025$2.9MQ2 2025$2.7MQ3 2025$7.3MQ1 2026−$2.3MQ2 2026$14.6MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 6, 2026$149M+64%17.6%$14.6M$50.2M
Q2 202610-QAug 17, 2026$133M+54%17.7%−$2.3M−$58.0M
Q1 202610-QMay 13, 2026$122M+43%16.8%$7.3M$31.7M
Q3 202510-QNov 4, 2025$142M-27%6.9%$2.7M$23.8M
Q2 202510-QAug 1, 2025$138M-0.5%2.8%$2.9M−$11.7M
Q1 202510-QMay 1, 2025$133M+9%7.6%$5.9M$83.6M

Charts

Harmonic: revenue growth, year over year and quarter over quarterHarmonic: revenue growth, year over year and quarter over quarterY/YQ/Q+9%Q1 20250%+4%Q2 2025-27%+3%Q3 2025+43%-15%Q1 2026+54%+10%Q2 2026+64%+12%Q3 2026
Latest (Q3 2026): Y/Y +64%, Q/Q +12%.
Harmonic: where the cash came from (+) and went (−), TTM to Q3 2026Harmonic: where the cash came from (+) and went (−), TTM to Q3 2026Other financing−$290MNet borrowing (+) / repaid (−)$210MOther investing$130MBuybacks−$59.9MOperating cash flow$36.2MCash drawn (+) / kept (−)−$15.5MCapital spending−$8.5MTaxes on employees’ shares−$7.3MShares issued$4.5MExchange rates−$196K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Harmonic: profit against cash, quarter by quarterHarmonic: profit against cash, quarter by quarterNet incomeOperating cash flow$38.1M$48.5MQ4 2024$5.9M$83.6MQ1 2025$2.9M−$11.7MQ2 2025$2.7M$23.8MQ3 2025−$54.8M$12.3MQ4 2025$7.3M$31.7MQ1 2026−$2.3M−$58.0MQ2 2026$14.6M$50.2MQ3 2026
Latest (Q3 2026): Net income $14.6M, Operating cash flow $50.2M.
Harmonic: diluted shares by fiscal yearHarmonic: diluted shares by fiscal year97MFY2020106MFY2021112MFY2022117MFY2023117MFY2024114MFY2025
+17.7% since FY2020: more shares outstanding (issuance, stock pay).
Harmonic in its industry: growth against margin (18 companies, SIC 3663)Harmonic in its industry: growth against margin (18 companies, SIC 3663)revenue growth, year over year →↑ operating marginmedian +40%median 2%QCOMMSIUIVISNAVNWPLCMTLONDSBKSYBKTISATLUMACAIRGKUSTWATTCRVWVUZIHLIT (+64%, 18%)
Radio & Tv Broadcasting & Communications Equipment; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

About Harmonic

Harmonic (NASDAQ: HLIT), the worldwide leader in virtualized broadband solutions, is transforming multi-gigabit connectivity. The company's industry-leading cOS™ virtualized broadband platform, suite of solutions for fiber and DOCSIS, and a growing portfolio of AI-powered network intelligence solutions, enable broadband service providers to simplify operations, deliver exceptional subscriber experiences and expand revenue streams. With thousands of vCMTS servers and hundreds of thousands of RPDs deployed globally, Harmonic powers next-generation broadband services with five-nines reliability. Anchored with a customer-first approach and driven by a legacy of innovation, Harmonic supports broadband service providers at every stage of their network evolution. More information is available at www.harmonicinc.com.

In its own words, from its 8-K, filed Aug 12, 2026.

Harmonic against its Radio & Tv Broadcasting & Communications Equipment peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +64% against the peers' median +12%. Operating margin: 17.6% against the peers' median 7.2%.

CompanyQuarterRevenueY/YOp. margin
HLIT HarmonicQ3 2026$149M+64%17.6%
QCOM QualcommQ4 FY26$10.3B-8%13.1%
MSI Motorola SolutionsQ3 2026$3.4B+12%23.0%
UI UbiquitiQ1 FY27$1.0B+40%38.1%
VISN Vistance NetworksQ3 2026$320M-38%7.2%
AVNW Aviat NetworksQ4 FY26$121M+5%4.8%
PL Planet Labs PBCQ2 FY27$116M+58%-11.6%
CMTL Comtech TelecommunicationsQ3 FY26$106M-16%-2.9%
ONDS OndasQ2 2026$83.8M13×-194.5%

Source: Harmonic 10-Q on SEC EDGAR · CIK 851310 · Radio & Tv Broadcasting & Communications Equipment

Guidance and outlook

Harmonic Revenue: guidance against what was reportedHarmonic Revenue: guidance against what was reportedguided rangereported (above / within / below)FY2026Q2 2026$133MQ3 2026$149MQ4 2026
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Harmonic GAAP gross margin: guidance against what was reportedHarmonic GAAP gross margin: guidance against what was reportedguided rangereported (above / within / below)FY2026Q3 202651.8%Q4 2026
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns HLIT and who is buying

Largest holders of HLIT (13F)Largest holders of HLIT (13F)BlackRock$294MVanguard Group$119MVanguard Portfolio Management LLC$88.0MState Street$84.1MPrice T Rowe Associates$78.3MVanguard Capital Management LLC$77.9MArrowstreet Capital, Limited Part…$53.8MAmerican Century Companies$52.5MDimensional Fund Advisors LP$47.7MFirst Eagle Investment Management…$47.2M
Funds' net buying of HLIT by quarter (13F)Funds' net buying of HLIT by quarter (13F)−$69.8M2024-09−$939K2024-12−$56.5M2025-03−$11.7M2025-06−$19.8M2025-09−$11.1M2025-12−$53.0M2026-03$25.5M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on HLIT

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

Compare HLIT with

中文版：Harmonic（HLIT）财报

Español · Français