Harmonic reported second quarter 2026 results featuring a significant beat on broadband revenue and earnings as it transitioned to a pure-play broadband provider. The company completed the sale of its Video business during the period, resulting in a 71% year-over-year surge in backlog and deferred revenue to $587.6 million.
Key Highlights
- Broadband segment revenue grew 54% year-over-year to $133.5 million, exceeding the consensus estimate of $120.9 million.
- Non-GAAP EPS from continuing operations reached $0.21, a $0.04 beat against analyst expectations of $0.17.
- Full-year 2026 Broadband revenue guidance was raised to a range of $505 million to $525 million, up from previous outlooks.
- Customer diversification improved with "Rest-of-Market" bookings representing approximately 60% of total second-quarter bookings.
- The virtualized cOS broadband platform expanded its footprint to 161 customers, now serving 48.2 million cable modem devices globally.