Harmonic Inc. Files 3Q 2024 10-Q

TL;DR

Harmonic Inc. 10-Q filed: Q3 2024 financials are in, covering Appliance Integration and SaaS Services.

AI Summary

Harmonic Inc. filed its 10-Q for the period ending September 27, 2024, reporting on its financial performance. The company's fiscal year ends on December 31st. Key financial segments include Appliance Integration and SaaS Services. The filing details financial data for the third quarter and year-to-date periods of 2024 and 2023.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Harmonic Inc., crucial for understanding the company's operational health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 20240927 — Period End Date (Latest financial reporting period)
• 20241101 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• HARMONIC INC (company) — Filer
• 20240927 (date) — Period of Report
• 4300 NORTH FIRST STREET (address) — Business Address
• SAN JOSE (city) — Business Address City
• CA (state) — Business Address State
• 95134 (zip_code) — Business Address Zip

FAQ

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-20240927.htm (10-Q) — 1239KB
• hlit-20240927_ex311.htm (EX-31.1) — 10KB
• hlit-20240927_ex312.htm (EX-31.2) — 10KB
• hlit-20240927xex321.htm (EX-32.1) — 4KB
• hlit-20240927_ex322.htm (EX-32.2) — 4KB
• 0000851310-24-000094.txt ( ) — 6193KB
• hlit-20240927.xsd (EX-101.SCH) — 34KB
• hlit-20240927_cal.xml (EX-101.CAL) — 66KB
• hlit-20240927_def.xml (EX-101.DEF) — 180KB
• hlit-20240927_lab.xml (EX-101.LAB) — 528KB
• hlit-20240927_pre.xml (EX-101.PRE) — 375KB
• hlit-20240927_htm.xml (XML) — 813KB

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 52

EXHIBITS

ITEM 6. EXHIBITS 53

SIGNATURES

SIGNATURES 54 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) September 27, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 58,174 $ 84,269 Restricted cash 327 — Accounts receivable, net 173,730 141,531 Inventories 73,864 83,982 Prepaid expenses and other current assets 30,273 20,950 Total current assets 336,368 330,732 Property and equipment, net 28,396 36,683 Operating lease right-of-use assets 13,471 20,817 Goodwill 239,597 239,150 Deferred income taxes 107,380 104,707 Other non-current assets 34,649 36,117 Total assets $ 759,861 $ 768,206 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Convertible debt $ — $ 114,880 Current portion of long-term debt 1,944 — Current portion of other borrowings 5,285 4,918 Accounts payable 42,480 38,562 Deferred revenue 50,891 46,217 Operating lease liabilities 5,971 6,793 Other current liabilities 55,091 61,024 Total current liabilities 161,662 272,394 Long-term debt 112,819 — Other long-term borrowings 9,458 10,495 Operating lease liabilities, non-current 15,647 18,965 Other non-current liabilities 31,338 29,478 Total liabilities 330,924 331,332 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; 116,511 and 112,407 shares issued and outstanding at September 27, 2024 and December 31, 2023, respectively 117 112 Additional paid-in capital 2,424,322 2,405,043 Accumulated deficit ( 1,991,615 ) ( 1,962,575 ) Accumulated other comprehensive loss ( 3,887 ) ( 5,706 ) Total stockholders' equity 428,937 436,874 Total liabilities and stockholders' equity $ 759,861 $ 768,206 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents HARMONIC INC. CONDENSED CONSOLIDATED

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View this 10-Q filing on SEC EDGAR