Harmonic Inc. (HLIT) financial statements: income statement, balance sheet and cash flow

Harmonic Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Harmonic Inc. reported revenue of $360.5M (-46.9% year on year) and net income of ($43.3M) (-210.4% year on year).

Income statement

Harmonic Inc. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total net revenue	$360.5M	$678.7M	$607.9M	$625.0M
Total cost of revenue	$185.8M	$312.8M	$295.4M	$309.1M
Total gross profit	$174.7M	$365.9M	$312.5M	$315.9M
Research and development expense	$76.3M	$121.0M	$126.3M	$120.3M
Selling, general and administrative	$81.4M	$153.1M	$163.3M	$146.7M
Asset impairment and related charges	$1.6M	$12.7M	—	—
Restructuring and related charges	$1.3M	$16.0M	$809.0K	$3.3M
Total operating expenses	$160.7M	$302.8M	$290.4M	$270.4M
Income (loss) from operations	$14.1M	$63.1M	$22.2M	$45.5M
Interest expense, net	($3.8M)	($7.3M)	($2.7M)	($5.0M)
Other income (expense), net	($1.4M)	$2.1M	($335.0K)	$4.0M
Income before income taxes	$8.9M	$57.9M	$19.1M	$44.5M
Provision for (benefit from) income taxes	$7.6M	$18.7M	($64.9M)	$16.3M
Income from continuing operations	$1.2M	—	—	—
Loss from discontinued operations, net of tax	($44.5M)	—	—	—
Net income	($43.3M)	$39.2M	$84.0M	$28.2M
Basic	-$0.38	$0.34	$0.75	$0.27
Diluted	-$0.38	$0.33	$0.72	$0.25
Basic	113.7M	115.1M	111.7M	105.1M
Diluted	114.2M	117.5M	117.4M	112.4M

Harmonic Inc. income statement, quarters

Line item	Jul 3, 2026 · Q3	Apr 3, 2026 · Q2	Sep 26, 2025 · Q3	Jun 27, 2025 · Q2
Total net revenue	$133.5M	$121.7M	$142.4M	$138.0M
Total cost of revenue	$63.6M	$58.1M	$65.3M	$64.2M
Total gross profit	$69.9M	$63.6M	$77.1M	$73.8M
Research and development expense	$21.2M	$20.9M	$29.7M	$29.4M
Selling, general and administrative	$24.6M	$22.3M	$36.5M	$38.2M
Asset impairment and related charges	$428.0K	—	$0	$1.6M
Restructuring and related charges	$0	—	$1.1M	$650.0K
Total operating expenses	$46.3M	$43.2M	$67.3M	$69.9M
Income from operations	$23.6M	$20.4M	$9.8M	$3.9M
Interest expense, net	($1.1M)	($1.1M)	($1.2M)	($1.3M)
Other expense, net	($579.0K)	($42.0K)	$113.0K	$359.0K
Income before income taxes	$22.0M	$19.3M	$8.7M	$3.0M
Provision for income taxes	$4.9M	$9.7M	$6.1M	$105.0K
Income (loss) from continuing operations	$17.1M	$9.6M	—	—
Income (loss) from discontinued operations, net of tax	($19.4M)	($2.3M)	—	—
Net income (loss)	($2.3M)	$7.3M	$2.7M	$2.9M
Basic	-$0.02	$0.07	$0.02	$0.03
Diluted	-$0.02	$0.07	$0.02	$0.03
Basic (in shares)	108.7M	109.7M	113.0M	113.4M
Diluted	109.7M	110.6M	113.3M	113.5M

Balance sheet

Harmonic Inc. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$124.1M	$101.5M	$84.3M	$89.6M
Accounts receivable, net of allowances for credit losses of $227 and $415 as of December 31, 2025 and December 31, 2024, respectively	$85.9M	$178.0M	$141.5M	$108.4M
Inventories	$47.8M	$64.0M	$84.0M	$120.9M
Prepaid expenses and other current assets	$12.5M	$22.3M	$20.9M	$26.3M
Assets held for sale	$224.0M	—	—	—
Total current assets	$494.4M	$366.1M	$330.7M	$345.3M
Property and equipment, net	$25.6M	$26.8M	$36.7M	$39.8M
Operating lease right-of-use assets	$13.7M	$12.4M	$20.8M	$25.5M
Goodwill	$60.9M	$236.9M	$239.2M	$237.7M
Deferred income taxes, net	$104.0M	$121.0M	$104.7M	—
Other non-current assets	$19.8M	$33.3M	$36.1M	$61.7M
Total assets	$718.5M	$796.5M	$768.2M	$710.0M
Current portion of long-term debt	$2.9M	$2.2M	—	—
Accounts payable	$23.1M	$35.3M	$38.6M	$67.5M
Deferred revenue	$31.5M	$47.1M	$46.2M	$62.4M
Operating lease liabilities	$6.4M	$5.7M	$6.8M	$6.8M
Other current liabilities	$48.3M	$72.4M	$61.0M	$66.7M
Liabilities to be disposed of	$85.7M	—	—	—
Total current liabilities	$197.9M	$167.6M	$272.4M	$322.1M
Long-term debt	$109.1M	$112.1M	—	—
Operating lease liabilities non-current	$14.7M	$14.7M	$19.0M	$24.1M
Other non-current liabilities	$13.5M	$28.2M	$29.5M	$28.2M
Total liabilities	$335.2M	$331.2M	$331.3M	$385.5M
Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued or outstanding	0	0	0	0
Common stock, $0.001 par value, 150,000 shares authorized; 111,186 and 116,735 shares issued and outstanding at December 31, 2025 and 2024, respectively	111.0K	117.0K	112.0K	110.0K
Additional paid-in capital	$2.5B	$2.4B	$2.4B	$2.4B
Accumulated deficit	($2.1B)	($2.0B)	($2.0B)	($2.0B)
Accumulated other comprehensive loss	($6.6M)	($14.1M)	($5.7M)	($9.7M)
Total stockholders' equity	$383.2M	$465.3M	$436.9M	$324.5M
Total liabilities and stockholders' equity	$718.5M	$796.5M	$768.2M	$710.0M

Harmonic Inc. balance sheet, quarters

Line item	Jul 3, 2026	Apr 3, 2026	Sep 26, 2025	Jun 27, 2025
Cash and cash equivalents	$231.9M	$109.0M	$127.4M	$123.9M
Accounts receivable, net of allowances for credit losses of $136 and $227 as of July 3,2026 and December 31,2025 respectively	$89.9M	$83.5M	$104.5M	$120.7M
Inventories	$66.5M	$51.2M	$68.6M	$71.1M
Prepaid expenses and other current assets	$28.9M	$17.2M	$26.5M	$26.8M
Assets held for sale	$0	$224.4M	—	—
Total current assets	$417.2M	$485.3M	$327.0M	$342.9M
Property and equipment, net	$23.5M	$24.7M	$27.8M	$28.0M
Operating lease right-of-use assets	$13.1M	$12.7M	$12.1M	$11.8M
Goodwill	$61.1M	$60.9M	$241.8M	$241.7M
Deferred income taxes, net	$99.4M	$102.0M	$115.5M	$121.4M
Other non-current assets	$18.3M	$19.7M	$34.4M	$37.6M
Total assets	$632.6M	$705.3M	$758.6M	$783.3M
Current portion of long-term debt	$2.9M	$2.9M	$2.9M	$2.7M
Accounts payable	$39.3M	$35.0M	$23.3M	$40.7M
Deferred revenue	$20.8M	$30.3M	$49.5M	$51.2M
Operating lease liabilities	$6.0M	$6.4M	$6.0M	$5.8M
Other current liabilities	$68.0M	$52.9M	$69.6M	$66.3M
Liabilities to be disposed of	$0	$86.7M	—	—
Total current liabilities	$136.9M	$214.2M	$157.1M	$172.2M
Long-term debt	$107.7M	$108.4M	$109.9M	$110.6M
Operating lease liabilities, non-current	$13.5M	$13.3M	$14.0M	$14.2M
Other non-current liabilities	$14.2M	$14.2M	$26.6M	$27.8M
Total liabilities	$272.3M	$350.2M	$315.6M	$336.9M
Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued or outstanding	0	0	0	0
Common stock, $0.001 par value, 150,000 shares authorized; 109,024 and 111,186 shares issued and outstanding at July 3, 2026 and December 31, 2025, respectively	109.0K	108.0K	112.0K	113.0K
Additional paid-in capital	$2.5B	$2.5B	$2.5B	$2.4B
Accumulated deficit	($2.1B)	($2.1B)	($2.0B)	($2.0B)
Accumulated other comprehensive loss	($8.3M)	($8.3M)	($7.2M)	($7.0M)
Total stockholders’ equity	$360.3M	$355.2M	$443.0M	$446.4M
Total liabilities and stockholders’ equity	$632.6M	$705.3M	$758.6M	$783.3M

Cash flow statement

Harmonic Inc. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net Income	($43.3M)	$39.2M	$84.0M	$28.2M
Depreciation	$11.1M	$12.1M	$12.3M	$12.3M
Asset impairment and related charges	$1.6M	$12.0M	—	—
Impairment of goodwill	$57.5M	—	—	—
Stock-based compensation	$31.9M	$28.1M	$27.3M	$25.2M
Foreign currency remeasurement	$847.0K	$315.0K	$1.5M	($2.7M)
Deferred income taxes, net	$8.5M	($16.4M)	($92.9M)	$4.9M
Provision for excess and obsolete inventories	$3.3M	$11.0M	$7.4M	$6.0M
Other	$127.0K	$569.0K	$151.0K	$513.0K
Accounts receivable, net	$53.9M	($38.2M)	($35.5M)	($23.1M)
Inventories	($7.1M)	$8.4M	$35.4M	($54.4M)
Prepaid expenses and other assets	$3.3M	$3.2M	$25.5M	($8.4M)
Accounts payable	($6.0M)	($3.1M)	($29.4M)	$5.8M
Deferred revenues	$10.2M	($2.2M)	($20.8M)	$2.6M
Other liabilities	($17.9M)	$7.0M	($12.4M)	$8.1M
Net cash provided by operating activities	$108.0M	$61.9M	$7.1M	$5.5M
Purchases of investments	$0	$0	($6.3M)	—
Proceeds from maturities of investments	$0	$0	$6.3M	—
Purchases of property and equipment	($11.1M)	($9.2M)	($8.5M)	($9.3M)
Net cash used in investing activities	($11.1M)	($9.2M)	($8.5M)	($1.3M)
Proceeds from long-term debt	$135.0M	$115.0M	—	—
Repayment of convertible debt	$0	($115.5M)	$0	($37.7M)
Payments for debt issuance costs	$0	($332.0K)	($1.0M)	$0
Proceeds from other borrowings	$3.8M	$3.9M	$3.8M	$3.5M
Repayment of long-term debt and other borrowings	($142.8M)	—	—	—
Repurchase of common stock	($79.0M)	($30.0M)	$0	($5.1M)
Proceeds from common stock issued to employees	6.0M	6.6M	6.6M	7.1M
Taxes paid related to net share settlement of equity awards	($4.4M)	($7.5M)	($9.5M)	($6.3M)
Net cash used in financing activities	($81.4M)	($33.3M)	($5.0M)	($43.1M)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	$7.2M	($1.9M)	$1.1M	($4.9M)
Net increase (decrease) in cash and cash equivalents and restricted cash	$22.7M	$17.5M	($5.3M)	($43.8M)
Cash and cash equivalents and restricted cash, beginning of the year	$101.8M	$84.3M	$89.6M	$133.4M
Cash and cash equivalents and restricted cash, end of the year	$124.5M	$101.8M	—	—
Cash and cash equivalents	$124.1M	$101.5M	—	—
Restricted cash included in other current assets	$356.0K	$332.0K	—	—
Total cash, cash equivalents and restricted cash as shown in the consolidated statement of cash flows	$124.5M	$101.8M	—	—
Income tax payments, net	$12.8M	$27.3M	$18.1M	$9.0M
Interest payments, net	$4.1M	$6.3M	$1.6M	$3.8M
Capital expenditures incurred but not yet paid	$247.0K	$488.0K	$618.0K	$1.1M
Shares of common stock issued upon redemption of convertible debt	0	4.6M	—	—

Harmonic Inc. cash flow statement, quarters

Line item	Jul 3, 2026 · YTD	Apr 3, 2026 · Q2	Sep 26, 2025 · YTD	Jun 27, 2025 · YTD
Net Income	$5.0M	$7.3M	$11.5M	$8.8M
Depreciation	$5.2M	$2.5M	$8.2M	$5.4M
Stock-based compensation	$21.5M	$9.8M	$23.5M	$16.2M
Foreign currency remeasurement	$88.0K	$1.1M	$446.0K	$596.0K
Deferred income taxes, net	$2.9M	$199.0K	($3.1M)	($2.7M)
Provision for excess and obsolete inventories	$1.4M	$586.0K	$2.8M	$2.0M
Other	$18.0K	$44.0K	$61.0K	($9.0K)
Accounts receivable, net	$8.2M	$3.2M	$74.1M	$58.1M
Inventories	($23.6M)	($4.7M)	($3.9M)	($6.6M)
Prepaid expenses and other assets	($4.3M)	($3.8M)	$10.4M	($492.0K)
Accounts payable	$16.7M	$9.2M	($13.8M)	$3.0M
Deferred revenues	$6.0M	$7.8M	$1.2M	$2.2M
Other liabilities	$9.0M	($1.6M)	($17.3M)	($16.2M)
Net cash provided by operating activities	($26.3M)	$31.7M	$95.7M	$71.9M
Purchases of property and equipment	($3.0M)	($1.4M)	($8.4M)	($5.7M)
Net cash used in investing activities	$129.0M	($1.4M)	($8.4M)	($5.7M)
Proceeds from long-term debt	$170.0M	$55.0M	$95.0M	$40.0M
Repayment of long-term debt and other borrowings	($171.5M)	($55.8M)	($101.9M)	($42.5M)
Repurchase of common stock	($43.0M)	($43.0M)	($65.8M)	($50.1M)
Proceeds from common stock issued to employees	4.5M	3.1M	6.0M	3.1M
Taxes paid related to net share settlement of equity awards	($6.0M)	($3.9M)	($3.8M)	($3.2M)
Net cash used in financing activities	$46.0M	($44.5M)	($66.6M)	($48.9M)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	$1.5M	($836.0K)	$5.3M	$5.1M
Net increase (decrease) in cash and cash equivalents and restricted cash	$107.8M	($15.1M)	$25.9M	$22.5M
Cash and cash equivalents and restricted cash at beginning of period	$124.5M	$124.5M	$101.8M	$101.8M
Cash and cash equivalents and restricted cash at end of period	$232.2M	$109.4M	$127.7M	$124.3M
Cash and cash equivalents	$231.9M	$109.0M	$127.4M	$123.9M
Restricted cash included in other current assets	$378.0K	$367.0K	$339.0K	$356.0K
Total cash, cash equivalents and restricted cash as shown in the condensed consolidated statement of cash flows	$232.2M	$109.4M	$127.7M	$124.3M
Income tax payments, net	$4.9M	$24.0K	$14.5M	$13.8M
Interest payments, net	$2.2M	$879.0K	$2.9M	$2.7M
Capital expenditures incurred but not yet paid	$591.0K	$383.0K	$968.0K	$1.1M

Harmonic Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.