Harmonic Inc. Files 10-Q for Q2 2024
Ticker: HLIT · Form: 10-Q · Filed: Aug 2, 2024 · CIK: 851310
| Field | Detail |
|---|---|
| Company | Harmonic Inc (HLIT) |
| Form Type | 10-Q |
| Filed Date | Aug 2, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.001, $1,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Harmonic Inc. dropped its Q2 2024 10-Q. Check financials.
AI Summary
Harmonic Inc. reported its second quarter 2024 results for the period ending June 28, 2024. The company's filing indicates financial performance and operational updates for the quarter. Specific financial figures and strategic details are available within the full report.
Why It Matters
This 10-Q filing provides investors and analysts with the official financial and operational details of Harmonic Inc.'s performance in the second quarter of 2024, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial performance and forward-looking statements within can reveal underlying risks.
Key Numbers
- 2024 Q2 — Reporting Period (Indicates the second quarter of 2024 financial results.)
- 0000851310 — Central Index Key (Unique identifier for Harmonic Inc. in SEC filings.)
Key Players & Entities
- HARMONIC INC (company) — Filer of the 10-Q
- 20240628 (date) — End of the reporting period
- 20240802 (date) — Filing date
- SAN JOSE (location) — Company headquarters city
- DE (location) — State of incorporation
FAQ
What were Harmonic Inc.'s total revenues for the six months ended June 28, 2024?
The filing indicates financial data for the period, but specific revenue figures for the six months ended June 28, 2024, are not explicitly stated in this header information.
What is the company's SIC code?
The Standard Industrial Classification (SIC) code for Harmonic Inc. is 3663, which corresponds to RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT.
When was Harmonic Inc. formerly known as Harmonic Lightwaves Inc.?
The company changed its name from Harmonic Lightwaves Inc. on April 4, 1995.
What is the filing date of this 10-Q?
This 10-Q filing was made on August 2, 2024.
What is the fiscal year end for Harmonic Inc.?
Harmonic Inc.'s fiscal year ends on December 31.
Filing Stats: 4,768 words · 19 min read · ~16 pages · Grade level 15 · Accepted 2024-08-02 16:18:31
Key Financial Figures
- $0.001 — ange on which registered Common stock, $0.001 par value HLIT NASDAQ Global Select Mar
- $1,000 — hares of the Company's common stock per $1,000 principal amount of the 2024 Notes (whi
Filing Documents
- hlit-20240628.htm (10-Q) — 1257KB
- hlit-20240628_ex311.htm (EX-31.1) — 10KB
- hlit-20240628_ex312.htm (EX-31.2) — 10KB
- hlit-20240628xex321.htm (EX-32.1) — 4KB
- hlit-20240628_ex322.htm (EX-32.2) — 4KB
- 0000851310-24-000074.txt ( ) — 6207KB
- hlit-20240628.xsd (EX-101.SCH) — 35KB
- hlit-20240628_cal.xml (EX-101.CAL) — 66KB
- hlit-20240628_def.xml (EX-101.DEF) — 180KB
- hlit-20240628_lab.xml (EX-101.LAB) — 526KB
- hlit-20240628_pre.xml (EX-101.PRE) — 374KB
- hlit-20240628_htm.xml (XML) — 819KB
FINANCIAL STATEMENTS (UNAUDITED)
ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) 3
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 28
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 29 PART II
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS 30
RISK FACTORS
ITEM 1A. RISK FACTORS 31
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 52
OTHER INFORMATION
ITEM 5. OTHER INFORMATION 53
EXHIBITS
ITEM 6. EXHIBITS 54
SIGNATURES
SIGNATURES 55 2 Table of Contents PART I FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS HARMONIC INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands, except par value) June 28, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 45,850 $ 84,269 Restricted cash 2,827 — Accounts receivable, net 119,999 141,531 Inventories 84,133 83,982 Prepaid expenses and other current assets 31,742 20,950 Total current assets 284,551 330,732 Property and equipment, net 29,603 36,683 Operating lease right-of-use assets 15,244 20,817 Goodwill 237,884 239,150 Deferred income taxes 112,906 104,707 Other non-current assets 33,508 36,117 Total assets $ 713,696 $ 768,206 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Convertible debt $ — $ 114,880 Current portion of long-term debt 944 — Current portion of other borrowings 8,348 4,918 Accounts payable 30,017 38,562 Deferred revenue 53,142 46,217 Operating lease liabilities 6,166 6,793 Other current liabilities 53,284 61,024 Total current liabilities 151,901 272,394 Long-term debt 113,805 — Other long-term borrowings 5,245 10,495 Operating lease liabilities, non-current 16,594 18,965 Other non-current liabilities 33,343 29,478 Total liabilities 320,888 331,332 Commitments and contingencies (Note 12) Stockholders' equity: Preferred stock, $ 0.001 par value, 5,000 shares authorized; no shares issued or outstanding — — Common stock, $ 0.001 par value, 150,000 shares authorized; 115,998 and 112,407 shares issued and outstanding at June 28, 2024 and December 31, 2023, respectively 116 112 Additional paid-in capital 2,416,152 2,405,043 Accumulated deficit ( 2,013,333 ) ( 1,962,575 ) Accumulated other comprehensive loss ( 10,127 ) ( 5,706 ) Total stockholders' equity 392,808 436,874 Total liabilities and stockholders' equity $ 713,696 $ 768,206 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents HARMONIC INC. CONDENSED CONSOLIDATED STATEMENT