The 43% Broadband revenue growth, record backlog, and raised full-year guidance signal accelerating momentum in the core business. The Video sale closing in Q2 will simplify the story and add $145M cash to the balance sheet. Watch for Q2 2026 earnings for continued Broadband growth trajectory and the Video deal close.
Price Chart
Executive Summary
Harmonic (HLIT) reported Q1 2026 Broadband (continuing ops) revenue of $121.7M, up 43% YoY from $84.9M, and GAAP continuing ops EPS of $0.10 (vs $0.02 YoY). The company raised its full-year 2026 Broadband revenue guidance to $475M-$495M, well above the prior outlook. The Video business sale to MediaKind for $145M cash is progressing as planned with a Q2 2026 close expected. The strong Broadband beat, raised guidance, and the Video divestiture catalyst make this a significant positive event.
Key Financial Metrics
Key Facts
- Broadband (continuing ops) Q1 2026 revenue: $121.7M, up 43% YoY from $84.9M
- GAAP continuing ops EPS: $0.10 vs $0.02 YoY; Non-GAAP continuing ops EPS: $0.17 vs $0.07 YoY
- Full-year 2026 Broadband revenue guidance raised to $475M-$495M (GAAP EPS $0.36-$0.45)
- Backlog and deferred revenue hit a record $582.1M, up 87% YoY from $311.7M
- Video business sale to MediaKind for $145M cash expected to close in Q2 2026
- Rest-of-Market Broadband revenue grew 78% YoY, now 42% of total Broadband revenue (vs 33% a year ago)
- Repurchased 4.2M shares for $43.0M in Q1 2026
Financial Impact
Broadband revenue grew 43% YoY to $121.7M; FY2026 guidance raised to $475M-$495M; Video sale proceeds of $145M cash expected in Q2
Risk Factors
- Video business sale may not close if regulatory conditions are not met by the June 8/September 8 deadline
- Customer concentration remains high — top 2 customers were 58% of Q1 revenue
- Tariff impacts of ~$2.3M estimated for FY2026 could pressure gross margins
- Stranded costs of ~$10M from Video divestiture will weigh on Broadband profitability through FY2026
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-216776 |
| Document: hlit-20260506.htm | 0001193125-26-216776 |
| Document: 0001193125-26-216776-index-headers.html | 0001193125-26-216776 |
| Document: 0001193125-26-216776-index.html | 0001193125-26-216776 |
| Document: 0001193125-26-216776.txt | 0001193125-26-216776 |
| 8-K Data (Synthetic) | 0001193125-26-216776 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Press Release | $10.73 | awaiting T+60 | — | $10.20 (−4.94%) |
Jun 19, 2026 18w ago | Institutional Cluster | $14.96 $11.62 | ▼ −22.33% | ▼ −24.07% | $10.20 (−31.82%) |
Jun 17, 2026 18w ago | 8-K | $14.85 $12.00 | ▼ −19.19% | ▼ −22.34% | $10.20 (−31.31%) |
Jun 8, 2026 20w ago | 8-K | $13.41 $11.79 | ▼ −12.08% | ▼ −15.89% | $10.20 (−23.94%) |
May 18, 2026 23w ago | Insider Cluster | $12.30 $13.08 | ▲ +6.34% | ▲ +0.05% | $10.20 (−17.07%) |
May 18, 2026 23w ago | Insider Cluster | $12.30 $13.08 | ▲ +6.34% | ▲ +0.05% | $10.20 (−17.07%) |
May 18, 2026 23w ago | Insider Cluster | $12.30 $13.08 | ▲ +6.34% | ▲ +0.05% | $10.20 (−17.07%) |
May 18, 2026 23w ago | Insider Cluster | $12.30 $13.08 | ▲ +6.34% | ▲ +0.05% | $10.20 (−17.07%) |
May 11, 2026 24w ago | 8-K | $12.95 $11.68 | ▼ −9.81% | ▼ −14.19% | $10.20 (−21.24%) |
Apr 24, 2026 26w ago | DEFA14A | $10.49 $12.00 | ▲ +14.39% | ▲ +9.62% | $10.20 (−2.76%) |
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