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Harmonic Inc   (NASDAQ: HLIT)
Other Ticker:  
 
    Sector  Technology    Industry Consumer Electronics
   Industry Consumer Electronics
   Sector  Technology
 
Price: $9.3400 $0.22 2.412%
Day's High: $9.4 Week Perf: 1.97 %
Day's Low: $ 9.14 30 Day Perf: 5.54 %
Volume (M): 1,245 52 Wk High: $ 15.46
Volume (M$): $ 11,633 52 Wk Avg: $11.55
Open: $9.15 52 Wk Low: $7.91



 Market Capitalization (Millions $) 1,093
 Shares Outstanding (Millions) 117
 Employees 1,359
 Revenues (TTM) (Millions $) 689
 Net Income (TTM) (Millions $) 53
 Cash Flow (TTM) (Millions $) 65
 Capital Exp. (TTM) (Millions $) 9

Harmonic Inc

We develop and sell (i) versatile and high performance video delivery software, products, system solutions and services that enable our customers to efficiently create, prepare, store, playout and deliver a full range of high-quality broadcast and “over-the-top” (OTT) video services to consumer devices, including televisions, personal computers, laptops, tablets and smart phones and (ii) cable access solutions that enable cable operators to more efficiently and effectively deploy high-speed internet, voice and video services to consumers’ homes.

We operate in two segments, Video and Cable Edge. Our Video business sells video processing and production and playout solutions and services worldwide to cable operators and satellite and telecommunications (telco) pay-TV service providers, which we refer to collectively as “service providers,” and to broadcast and media companies, including streaming new media companies. Our Video business infrastructure solutions are delivered either through shipment of our products, software licenses or as software-as-a-service (“SaaS”) subscriptions. Our Cable Edge business sells cable access solutions and related services, including our CableOS software-based Converged Cable Access Platform (CCAP) solutions, primarily to cable operators globally.

Harmonic was initially incorporated in California in June 1988, and was reincorporated in Delaware in May 1995. Our principal executive offices are located at 4300 North First Street, San Jose, California 95134. Our telephone number is (408) 542-2500. Our Internet website is http://www.harmonicinc.com. Other than the information expressly set forth in this Annual Report on Form 10-K, the information contained or referred to on our website is not part of this report.

Video Business
We believe our customers must continue to employ innovative technologies and services to address key trends in the dynamic video industry.

Demand for Video Services Anytime, Anywhere, on any Device. In our ubiquitous multiscreen video environment, video programming and content needs to be transformed into multiple formats, bit rates and resolutions for display on a broad range of devices.

Demand for High Quality Video. Consumer demand for high quality video anytime, anywhere and on any device requires ever-increasing bandwidth capacity in service providers’ networks, as well as technology that maximizes network bandwidth efficiency. With the advent of Ultra High Definition (Ultra HD) televisions and OTT services increasingly being rendered in “4K” high resolution and consuming approximately four times the bandwidth of traditional HD channels, we believe next generation compression technologies, such as High Efficiency VideoCompression (HEVC) or advances in H.264/AVC codecs, as well as increasing requirements for HDR encoding, will continue to remain a high priority for distributors of video.

Streaming Video Service. Consumer demand for video download and streaming services from new media companies such as Netflix, Hulu, Google (YouTube), Amazon (Prime Video) and Apple (iTunes) continue to experience significant global growth. These and other similar services aggregate third-party and original content and stream video “over-the-top” (OTT) to any Internet-connected device utilizing Internet service providers’ networks at no incremental infrastructure cost to the consumer.

Time-Shifted Viewing. “Time-shifting” technologies include digital video recorders (DVRs), cloud and network DVRs (cDVR and nDVR) that allow a subscriber to store programming on the service provider’s servers or in the cloud, and video-on-demand (VOD) services.

In response to these trends and the success of new media OTT streaming companies, as well as the growing trend of “cord-cutting” (i.e., consumers canceling traditional pay-TV subscriptions in favor of streaming services) and the increasing number of “cord-nevers” (i.e., consumers who have never had a pay-TV subscription):


service providers and broadcast and media companies continue to provide more of their own OTT streaming video services, including OTT streaming of live (or “linear”) television programming;

service providers are competing to offer higher quality video signals in HD, including evolving initiatives to deliver video in 4K Ultra HD resolution;

service providers are developing and expanding their content delivery and Internet Protocol (IP) networks, and increasing the capacity and efficiency of their networks with investments in various delivery infrastructure technologies to, among other things, maximize video quality and minimize bandwidth utilization;

service providers continue to consolidate to achieve greater economies of scale and subscriber concentration, and acquire media companies to expand their content libraries and capabilities to develop original content;

service providers continue to enhance and differentiate their content offerings, either through in-house development of new content or through acquisitions of existing content brands; and

service providers have an ongoing need, despite the migration of traffic to OTT, to provide services over their existing broadcast distribution infrastructures.
We believe that the delivery of video over IP will continue to change traditional video viewing habits and distribution methods and may alter the traditional advertising and subscription business models of major service providers.

Our Video Markets

Service Providers

Cable Operators. Cable operators continue to focus on various initiatives to improve and differentiate their service offerings from competing service providers, including: bundled digital video, voice and high speed data services; expansion of VOD libraries and on-demand and streaming service offerings; upgraded consumer-facing applications; video delivery over IP to broadband enabled consumer devices; and capacity enhancement of high-speed data services.

Satellite Operators. Satellite operators around the world have established digital television services that serve tens of millions of subscribers, with the ability to provide tens of thousands of linear channels. We believe these linear services will continue to grow, particularly in emerging markets, while, in parallel, satellite operators launch new streaming services, such as Sling TV and DirecTV Now, to address younger generation viewers and new consumption habits.

Telcos. Telcos have established video offerings to successfully compete in the video marketplace, including high-quality HD content, larger VOD libraries, time-shifting television services, bundled voice, data and video packages and, more recently, streaming services. In many cases, telcos are making significant infrastructure investments to expand their video offerings into IP services and gain market share, while certain telcos are also acquiring satellite and/or cable companies to achieve market reach and scale.

Broadcast and Media Companies

Network broadcasters, programmers and content owners require video contribution and distribution solutions to transmit live programming of news and sports to their studios for subsequent broadcast, and deliver the same programming and content to service providers for distribution to their subscribers. Broadcasters generally produce their own news and sports highlight content, along with hundreds of channels of network programming that is played-to-air under strict reliability requirements using playout servers and software.

With broadcast and media companies continuing to expand their offerings to support a wide range of live and linear content and making content available in higher quality video formats and on-demand, we believe these trends are accelerating demand for functionally collapsed playout systems with integrated media orchestration software, as well as increasing demand for media servers and video-optimized storage solutions equipped to support higher resolution formats. In addition, in order to achieve faster time-to-market and reduce operational costs, we believe content providers are adopting cloud-based technologies and transitioning portions of their operations into public cloud environments, thereby enabling expanded services at a more rapid pace, the distribution of video directly to consumers or to distributors over IP and public networks, and more efficient and scalable global operations.

In the terrestrial broadcasting market, while broadcasters in various countries that have not yet completed converting from analog to digital transmission continue with change-over efforts, operators in numerous other countries around the world are adopting the next generation of digital transmission technologies, such as the DVB-T2 standard and ATSC 3.0 standards. The ongoing conversion from analog to digital transmission and the adoption of next-generation transmission standards provides the opportunity to deliver new channels, HD and Ultra HD services, premium content, and interactive services.
Over-the-Top (OTT)

According to a recent Cisco study, IP video traffic accounts for a significant majority of Internet traffic globally, and video traffic will only continue to increase for the foreseeable future. We believe service providers and broadcast and media companies with OTT services and offerings will continue to require high-quality video processing solutions and new technologies in order to process and distribute large amounts of live and VOD content from a wide variety of sources to a broad array of consumer devices, and to optimize adaptive bitrate video streaming quality and bandwidth utilization.

With the continued proliferation of OTT streaming content and program channels similar to channels currently available from service providers, monetizing this content through the use of national, regionalized and personalized advertising delivered to the varied devices of individual viewers has become a key area of focus for companies with OTT offerings. We believe OTT ad insertion and other related content customization solutions will continue to attract increased investments from OTT companies.

Cable Edge Business
Industry Challenges
Cable operators continue to face challenges from the rapid growth of demand for broadband bandwidth in their networks, driven primarily by:

more users with more connected devices and applications;

bundled digital video, voice and high speed data services; and

bandwidth-intensive VOD and OTT streaming video services, and cloud applications.
In addition, the operation of network infrastructure is space, power and personnel intensive. Hardware-centric networks can also be expensive to update or replace. To remain competitive, especially in the face of heightened competition from non-cable service providers such as telcos to deliver gigabit data rates, cable operators need to incur significant capital expenditures to upgrade existing equipment and network technologies.
Technology Trends

CCAP. In order to deliver gigabit data rates, cable operators are aggressively driving broadband access technologies such as the Converged Cable Access Platform (CCAP) architecture. The CCAP architecture combines edge “quadrature amplitude modulation” (QAM) and “cable modem termination system” (CMTS) functions in a single solution in order to combine resources for video and data services.

DOCSIS 3.1. We believe the cable industry will move rapidly to DOCSIS 3.1, which enables increased bandwidth data transfer over existing broadband infrastructure.

Virtualization. We believe cable operators are moving toward more software-driven architectures. Virtualized software solutions that are decoupled from underlying hardware and run on commercial off-the-shelf (COTS) servers allow for significantly increased efficiencies, upgradability, configuration flexibility, service agility and scalability not feasible with hardware-centric approaches. We believe a software-based, centralized CCAP-based system can significantly reduce cable headend costs, especially costs related to physical space and power consumption, and increase operational efficiency, and that the deployment of these systems will be an important step in cable operators’ transition to all-IP networks.

Distributed Architecture. In addition to centralized CCAP systems, we believe there is growing interest in distributed Remote PHY solutions, particularly in competitive gigabit service markets where cable operators are competing with fiber-to-the-home (FTTH) services and are extending fiber networks deeper into their access networks. A Remote PHY architecture, which involves COTS servers running virtualized CCAP core software at a headend and the distribution of Remote PHY nodes closer to end users, alleviates the power and space requirements of centralized systems at headend sites due to the fact that the RF processing is distributed into the field outside of the headend. We believe this distributed architecture will enable service providers to efficiently scale to support data and IP video growth.



   Company Address: 2590 Orchard Parkway San Jose 95131 CA
   Company Phone Number: 542-2500   Stock Exchange / Ticker: NASDAQ HLIT


Customers Net Income grew by HLIT's Customers Net Profit Margin grew to

18.55 %

15.05 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

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Business Update

Unlocking the Potential Ancora Sees the Path to Value Creation at Harmonic Inc.

Published Mon, Nov 18 2024 3:47 PM UTC

Unlocking the Potential: Ancora Sees the Path to Value Creation at Harmonic Inc. In a compelling new development within the tech-investment landscape, Ancora Holdings Group, LLC, a notable shareholder of Harmonic Inc. (NASDAQ: HLIT), has released a presentation that underscores a promising avenue for substantial near-term value creation at Harmonic. This strategic move, arti...

Harmonic Inc

Harmonic Inc in Financial Crisis: Deficit Widens and Revenue Plummets

The recent financial results of Harmonic Inc have caused concern among investors and analysts on Wall Street. The company's deficit per share increased to $-0.07, a significant decline from the previous year's $0.04. Revenue fell by -23.196% to $121.08 million, further adding to the company's financial woes.
The Consumer Electronics sector as a whole showed improvement in the first quarter of 2024, but Harmonic Inc's performance fell short of expectations. The net deficit for the time-frame of January to March 29, 2024 was $-8.089 million, a stark contrast to the earnings of $5.093 million achieved in the same period a year before. Despite an increase in stockpiles to $86.6 million, accounts receivable declined to $105.9 million from the previous quarter.

Products & Services

Harmonic's VOS Media Software Granted CNF Certification on Red Hat OpenShift, Ushering in Enhanced Reliability and Security for Data Center Deployments

Published Fri, Apr 12 2024 12:00 PM UTC

Harmonic VOS Media Software Achieves CNF Certification on Red Hat OpenShift, Boosting Reliability and Security for Data Center DeploymentsHarmonic Inc, a leading provider of video delivery infrastructure solutions, has announced the successful validation of its VOS Media Software as a cloud-native solution. The certification, granted by Red Hat OpenShift, signifies the softw...

Contract

Filmocentro Boosts Playout Efficiency with Harmonic's Revolutionary Cloud Solutions

Published Thu, Apr 11 2024 12:00 PM UTC

Filmocentro Enhances Playout Efficiency with Harmonic s Cloud SolutionsIn a recent press release, Harmonic (NASDAQ: HLIT) announced the successful implementation of its cloud-native VOS360 Media SaaS for Chilean media company, Filmocentro. The implementation was managed by Totaltel, a leading systems integration company. This collaboration brings unmatched efficiency and rel...

Products & Services

Harmonic Inc. Strengthens Live Sports Streaming Monetization with In-Stream Advertising

Published Wed, Apr 10 2024 12:00 PM UTC

Harmonic Inc., a leading technology company specializing in video delivery infrastructure, has introduced a groundbreaking advancement in live sports streaming monetization. With their new in-stream advertising feature on VOS360 Ad SaaS, Harmonic aims to unlock additional monetization opportunities for live sports streaming platforms. This cutting-edge technology promises to...







Harmonic Inc's Segments
Broadband    64.02 % of total Revenue
Video    36.4 % of total Revenue
Appliance and integration    69.05 % of total Revenue
Product sales    66.43 % of total Revenue
Professional services    2.62 % of total Revenue
SaaS and service    31.37 % of total Revenue
SaaS    11.14 % of total Revenue
Support services    20.24 % of total Revenue
United States    67.03 % of total Revenue
Other Countries    33.4 % of total Revenue





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