secwatch.observer — SEC 8-K summary
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Issuer:     HARMONIC INC. (HLIT)
CIK:        0000851310
Form:       8-K
Filed at:   2024-04-29T23:59:59+00:00
Accession:  0000851310-24-000040
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Harmonic Q1 revenue down 23% YoY to $122.1M; Nimrod Ben-Natan to become CEO June 11, 2024
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- GAAP net loss of $8.1M ($0.07 loss per share) vs net income of $5.1M in Q1 2023.
- Non-GAAP net income of $0.4M ($0.00 per share) vs $14.3M ($0.12) in prior year.
- Broadband revenue $78.9M (-21% YoY); Video revenue $43.2M (-25% YoY).
- Record backlog and deferred revenue of $677.8M; full year Broadband revenue guidance reaffirmed.
- Nimrod Ben-Natan named CEO effective June 11, 2024, with $600K base salary and $5.5M RSU grant.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/851310/000085131024000040/0000851310-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/851310/000085131024000040/hlit-20240429.htm
  HTML page:      https://secwatch.observer/filing/0000851310-24-000040

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer