Harmonic Q2 2026: Broadband Revenue Up 54%, Video Sale Completed, $75M Debt Repaid
HLIT sits 60% above its 52-week low of $8.465 on light trading volume (0.3× avg).
Summary
Harmonic's Q2 2026 10-Q details 54% broadband revenue growth, the completed Video business sale, and a $75 million debt repayment, with $231.9 million in cash on hand.
Key Events · Earnings and Guidance · HLIT
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Broadband Revenue Surges 54%
Q2 2026 total net revenue reached $133.5 million, up 54% year-over-year, driven by new deployments in the Americas. Appliance and integration revenue grew 61% to $117.0 million.
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Gross Margin Expands to 52.4%
Gross profit rose 76% to $69.9 million, with gross margin improving 660 basis points to 52.4%, reflecting a favorable product mix from North American deployments.
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Video Business Sale Completed
The sale of the Video business to MediaKind closed on June 16, 2026, with proceeds of $137.9 million. The company recorded a $6.3 million loss on disposal and now operates as a pure-play broadband company.
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$75M Revolving Facility Repaid
Subsequent to quarter-end, on July 7, 2026, Harmonic used cash on hand to repay the full $75.0 million outstanding under its Revolving Facility, leaving $159.7 million available to borrow.
Analysis · HLIT · Manufacturing
The Q2 2026 10-Q confirms the strong broadband growth previewed in the August 12 8-K, with total revenue up 54% year-over-year to $133.5 million and gross margin expanding to 52.4%. The filing also finalizes the accounting for the Video business sale, including a $6.3 million loss on disposal, and reveals a subsequent event: the company repaid its $75 million revolving credit facility on July 7, 2026, leaving $159.7 million available. The balance sheet shows $231.9 million in cash, providing ample liquidity for the pure-play broadband strategy.
At the time of this filing, HLIT was trading at $13.57 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $8.47 to $17.68. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.