HLIT 8-K: Harmonic Q1 2023 revenue up 7% YoY to $157.6M; broadband up 23%, Video SaaS up 72%

Harmonic Q1 2023 revenue up 7% YoY to $157.6M; broadband up 23%, Video SaaS up 72%

HARMONIC INC.

2023-Q1 EPS reported $0.04 revenue$157,649,000

Net revenue $157.6M (+7% YoY); GAAP net income $5.1M vs loss of $1.5M YoY.

Broadband segment revenue $100.4M (+23% YoY); Video segment $57.3M (-13%).

Non-GAAP EPS $0.12 vs $0.08 YoY; Adjusted EBITDA $21.4M vs $14.5M.

CableOS deployed with 94 customers serving 18.4M modems; record new SaaS commitments.

Bookings $325.5M, backlog and deferred revenue $623.5M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HARMONIC INC. reported first quarter of 2023 results: revenue $157.6 million, net income GAAP net income $5.1 million, EPS $0.04.

Period: first quarter of 2023
Revenue: $157.6 million
Net income: GAAP net income $5.1 million
EPS: $0.04
Result: preliminary results

Exact text from the filing

Revenue: $157.6 million, up 7% year over year ◦ Broadband segment revenue: $100.4 million, up 23% year over year ◦ Video segment revenue: $57.3 million, down 13% year over year • Gross margin: GAAP 53.3% and non-GAAP 53.9%, compared to GAAP 46.9% and non-GAAP 47.3% in the year ago period ◦ Broadband segment gross margin: 50.1% compared to 38.0% in the year ago period ◦ Video segment gross margin: 60.4% compared to 58.8% in the year ago period • Operating income: GAAP income $11.2 million and non-GAAP income $18.7 million, compared to GAAP income $2.5 million and non-GAAP income $11.3 million in the year ago period • Net income: GAAP net income $5.1 million and non-GAAP net income of $14.3 million, compared to GAAP net loss $1.5 million and non-GAAP net income $8.9 million in the year ago period • Adjusted EBITDA: $21.4 million income compared to $14.5 million income in the year ago period • EPS: GAAP net income per share of $0.04 and non-GAAP net income per share of $0.12, compared to

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