Harmonic Inc. (HLIT) Income Statement
HLIT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsHLIT revenue and net income
Where HLIT's revenue goes
2025Each bar shows an amount and its share of revenue. HLIT kept −12.0% of revenue as net income.
HLIT profit margins
HLIT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −46.9% | −16.8% | −1.0% | −0.4% |
| Gross profit | −55.3% | −19.7% | −3.4% | −2.1% |
| Operating income | −73.0% | −27.9% | — | — |
| Net income | −210.4% | — | — | — |
| EPS (diluted) | −36.1% | −5.2% | +45.7% | +22.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
HLIT quarterly EPS vs estimates
Harmonic beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.13).
HLIT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $360.5M | $678.7M | $607.9M | $625.0M | $507.1M | $378.8M | $402.9M | $403.6M | $358.2M | $405.9M |
| Cost of revenue | $196.9M | $312.8M | $295.4M | $309.1M | $247.4M | $183.8M | $179.9M | $194.3M | $188.4M | $205.2M |
| Gross profit | $163.7M | $365.9M | $312.5M | $315.9M | $259.7M | $195.0M | $223.0M | $209.2M | $169.8M | $200.8M |
| Research & development | $65.2M | $121.0M | $126.3M | $120.3M | $102.2M | $82.5M | $84.6M | $89.2M | $96.0M | $98.4M |
| Sales, general & admin | $81.4M | $160.8M | $158.7M | $146.7M | $138.1M | $119.6M | $119.0M | $119.0M | $136.3M | $144.4M |
| Total operating expenses | $146.6M | $302.8M | $290.4M | $270.4M | $240.9M | $207.4M | $209.9M | $211.3M | $235.4M | $253.2M |
| Operating income | $17.0M | $63.1M | $22.2M | $45.5M | $18.8M | −$12.4M | $13.1M | −$5.0M | −$70.9M | −$67.0M |
| Interest income | — | — | — | — | — | — | $10.3M | $13.7M | $10.9M | $10.6M |
| Interest expense | $3.8M | $7.3M | $2.7M | $5.0M | $10.6M | $11.5M | $11.7M | $11.4M | $11.1M | $10.6M |
| Income before taxes | $8.9M | $57.9M | $19.1M | $44.5M | $8.9M | −$26.2M | −$6.6M | −$16.9M | −$84.7M | −$80.4M |
| Income taxes | $7.6M | $18.7M | −$64.9M | $16.3M | −$4.4M | $3.1M | −$672,000 | $4.1M | −$1.8M | −$8.1M |
| Net income | −$43.3M | $39.2M | $84.0M | $28.2M | $13.3M | −$29.3M | −$5.9M | −$21.0M | −$83.0M | −$72.3M |
| EBITDA | $23.7M | $77.4M | $22.2M | $61.7M | $32.5M | $999,000 | $24.7M | $15.8M | −$50.7M | −$36.1M |
| EPS (diluted) | $0.46 | $0.72 | $0.31 | $0.54 | $0.34 | $0.07 | $0.28 | $0.19 | −$0.49 | −$0.31 |
| Gross margin | 45.4% | 53.9% | 51.4% | 50.5% | 51.2% | 51.5% | 55.4% | 51.8% | 47.4% | 49.5% |
| Operating margin | 4.7% | 9.3% | 3.6% | 7.3% | 3.7% | −3.3% | 3.2% | −1.2% | −19.8% | −16.5% |
| Net margin | −12.0% | 5.8% | 13.8% | 4.5% | 2.6% | −7.7% | −1.5% | −5.2% | −23.2% | −17.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $133.5M | $121.7M | $98.2M | $142.4M | $138.0M | $133.1M | $222.2M | $195.8M | $138.7M | $122.1M | $167.1M | $127.2M |
| Cost of revenue | $63.6M | $58.1M | $54.7M | $68.1M | $66.9M | $57.3M | $97.5M | $91.0M | $65.3M | $59.0M | $85.2M | $65.5M |
| Gross profit | $69.9M | $63.6M | $43.6M | $74.3M | $71.1M | $75.9M | $124.7M | $104.7M | $73.5M | $63.1M | $81.9M | $61.7M |
| Research & development | $21.2M | $20.9M | $17.1M | $26.9M | $26.8M | $28.6M | $31.4M | $30.1M | $28.8M | $30.7M | $30.3M | $30.3M |
| Sales, general & admin | $24.6M | $22.3M | $30.4M | $36.5M | $38.2M | $37.1M | $39.7M | $35.9M | $39.8M | $38.9M | $42.0M | $36.9M |
| Total operating expenses | $46.3M | $43.2M | $39.8M | $63.4M | $65.0M | $65.7M | $71.8M | $69.3M | $89.1M | $72.6M | $72.2M | $70.3M |
| Operating income | $23.6M | $20.4M | $3.8M | $10.9M | $6.2M | $10.1M | $52.9M | $35.4M | −$15.6M | −$9.5M | $9.6M | −$8.6M |
| Interest expense | $1.1M | $1.1M | $397,000 | $1.2M | $1.3M | $1.5M | $2.5M | $2.7M | $1.4M | $723,000 | $571,000 | $619,000 |
| Income before taxes | $22.0M | $19.3M | $3.3M | $8.7M | $3.0M | $8.5M | $56.1M | $28.8M | −$16.4M | −$10.5M | $8.8M | −$8.9M |
| Income taxes | $4.9M | $8.1M | $3.1M | $6.1M | $105,000 | $2.5M | $18.0M | $7.1M | −$3.9M | −$2.4M | −$75.0M | −$2.4M |
| Net income | −$2.3M | $7.3M | −$54.8M | $2.7M | $2.9M | $5.9M | $38.1M | $21.7M | −$12.5M | −$8.1M | $83.8M | −$6.5M |
| EBITDA | $25.7M | $22.9M | $6.6M | $12.8M | $6.9M | $12.7M | $61.6M | $34.4M | −$11.8M | −$6.7M | $12.5M | −$5.2M |
| EPS (diluted) | $0.14 | $0.17 | $0.14 | $0.12 | $0.09 | $0.11 | $0.45 | $0.26 | $0.08 | −$0.07 | $0.13 | −$0.06 |
| Gross margin | 52.4% | 52.3% | 44.4% | 52.2% | 51.5% | 57.0% | 56.1% | 53.5% | 52.9% | 51.7% | 49.0% | 48.5% |
| Operating margin | 17.7% | 16.8% | 3.8% | 7.7% | 4.5% | 7.6% | 23.8% | 18.1% | −11.3% | −7.8% | 5.8% | −6.8% |
| Net margin | −1.7% | 6.0% | −55.8% | 1.9% | 2.1% | 4.5% | 17.2% | 11.1% | −9.0% | −6.6% | 50.2% | −5.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in HLIT's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
HLIT financial results
In fiscal year 2025 (ended December 31, 2025), Harmonic reported revenue of $360.5 million, down 46.9% from the year before. It had a net loss of $43.3 million, a net profit margin of −12.0%. Diluted earnings per share came to $0.46. Over five years revenue grew at an average rate of −1.0% a year.
See the HLIT stock overview for the latest quote and news, or the HLIT chart for price history and technical indicators.
HLIT income statement FAQ
What is Harmonic's annual revenue?
Harmonic reported total revenue of $360.5 million for fiscal year 2025, which ended on December 31, 2025. That was down 46.9% from $678.7 million the previous year.
Is Harmonic profitable?
No. Harmonic reported a net loss of $43.3 million in fiscal 2025, a net profit margin of −12.0%; its operating margin was 4.7%.
What is Harmonic's gross margin?
Harmonic's gross margin was 45.4% in fiscal 2025: for every $100 of revenue, Harmonic kept $45 after the direct cost of its products and services.
How much does Harmonic spend on research and development?
Harmonic spent $65.2 million on research and development in fiscal 2025, 18.1% of revenue.
How fast is Harmonic growing?
Revenue grew −1.0% a year on average over the last five fiscal years, from $378.8 million to $360.5 million.
What are Harmonic's earnings per share?
Harmonic earned $0.46 per diluted share in fiscal 2025, compared with $0.72 a year earlier.
When will Harmonic report its next earnings?
Harmonic is expected to report results for the quarter ending September 30, 2026 on November 2, 2026.
When does Harmonic's fiscal year end?
Harmonic's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.