Filing Flows › Harmonic (HLIT) › Q1 2026
Harmonic (HLIT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Harmonic (HLIT) reported revenue of $122M for the first quarter 2026 (Q1 2026), +43% from a year earlier. Operating margin was 16.8%, net earnings $7.3M (6.0% of revenue).
Harmonic, Q1 2026: revenue $122M (+43% year over year), operating margin 16.8%, net earnings $7.3M, operating cash flow $31.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $122M | — | +43% |
| Gross profit | $63.6M | — | +37% |
| Operating profit | $20.4M | — | +191% |
| Net earnings | $7.3M | — | +23% |
| Operating cash flow | $31.7M | — | -62% |
| Free cash flow | $30.3M | — | -63% |
What changed
Revenue was $121.7M in Q1 2026, up 43% year over year. Product was the largest line at 75% of revenue. Product added $20.3M year over year (up 28%), 55% of the total change.
Gross margin was 52.3%, down 2.5 points from Q1 2025. Operating profit was $20.4M, a 16.8% margin (up 8.5 points year over year). Of the extra revenue versus Q1 2025, 36% reached operating profit, above the 8% margin then. Operating expenses grew 9% against revenue growth of 43%. The fastest-growing cost line was SG&A (+13%). Net earnings were $7.3M, up 23% year over year. The effective tax rate was 57.0%.
Operating cash flow was $31.7M (down 62% year over year), 434% of net earnings. Non-cash charges added back $2.5M of depreciation and $9.8M of share-based compensation. Working capital and other items added $12.0M. Capital expenditures of $1.4M left free cash flow of $30.3M.
Questions
What was Harmonic's revenue in the first quarter 2026?
Harmonic (HLIT) reported revenue of $122M for the first quarter 2026 (Q1 2026), +43% from a year earlier.
Was Harmonic profitable in the first quarter 2026?
Operating profit was $20.4M (16.8% of revenue) and net earnings $7.3M.
Source: Harmonic 10-Q on SEC EDGAR.