Filing Flows › Harmonic (HLIT) › Q3 2025
Harmonic (HLIT) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Harmonic (HLIT) reported revenue of $142M for the third quarter 2025 (Q3 2025), -27% from a year earlier and +3% from the quarter before. Operating margin was 6.9%, net earnings $2.7M (1.9% of revenue).
Harmonic, Q3 2025: revenue $142M (-27% year over year), operating margin 6.9%, net earnings $2.7M, operating cash flow $23.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $142M | +3% | -27% |
| Gross profit | $77.1M | +5% | -26% |
| Operating profit | $9.8M | +154% | -72% |
| Net earnings | $2.7M | -6% | -88% |
| Operating cash flow | $23.8M | — | +173% |
| Free cash flow | $21.0M | — | +267% |
What changed
Revenue was $142.4M in Q3 2025, down 27% year over year and up 3% from the previous quarter. Product was the largest line at 60% of revenue. Product lost $65.2M year over year (down 43%), 122% of the total change.
Gross margin was 54.2%, up 0.7 points from a year earlier. Operating profit was $9.8M, a 6.9% margin (down 11.2 points year over year). Operating expenses fell 3% while revenue fell 27%. Net earnings were $2.7M, down 88% year over year. The effective tax rate was 69.2%.
Operating cash flow was $23.8M (up 173% year over year), 882% of net earnings. Non-cash charges added back $2.8M of depreciation and $7.3M of share-based compensation. Working capital and other items added $10.9M. Capital expenditures of $2.7M left free cash flow of $21.0M.
Questions
What was Harmonic's revenue in the third quarter 2025?
Harmonic (HLIT) reported revenue of $142M for the third quarter 2025 (Q3 2025), -27% from a year earlier and +3% from the quarter before.
Was Harmonic profitable in the third quarter 2025?
Operating profit was $9.8M (6.9% of revenue) and net earnings $2.7M.
Source: Harmonic 10-Q on SEC EDGAR.