Harmonic Due Diligence

Run due diligence on Harmonic: check compliance and get alerts when suppliers change.

United States · www.harmonicinc.com · 33 vendors

Harmonic Inc. is a technology company that develops and markets virtualized broadband and video delivery solutions. It provides software, products, and system solutions to cable, satellite, telecom, and broadcast network operators. The company's offerings enable the delivery of high-quality video streaming and broadband services, covering the entire video workflow from content preparation to delivery and monetization.

Resilience scores

Technology vendors

Services catalogue

2 services in catalogue across 2 categories; runs on 33 sub-vendors.

Insights

Last updated 2026-09-13 · revision 21

33 direct vendors, 272 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

9 in-scope frameworks identified; showing 3.

SOX — No public evidence

Evidence: https://investor.harmonicinc.com/, https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=851310&type=10-K&dateb=&owner=include&count=10, https://www.sarbanes-oxley-101.com/sarbanes-oxley-compliance.htm

FCC Regulations — No public evidence

Evidence: https://www.harmonicinc.com/broadband/baba-compliance, https://www.fcc.gov/consumers/guides/fccs-rules-protecting-cpni, https://www.fcc.gov/supplychain, https://www.harmonicinc.com/broadband/cableos-core-software/

NIS2 (source) — No public evidence

Evidence: https://www.harmonicinc.com/about/, https://www.harmonicinc.com/broadband/customers/, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022L2555, https://www.harmonicinc.com/broadband/cableos-central-management/

Financials

Three-year financials

Financial Resilience Score: 6/10

Harmonic Inc. presents a mixed financial resilience profile. The company holds a technology leadership position in virtualized broadband access (vCMTS/cOS) with major Tier-1 operator wins including Comcast, Charter, and Vodafone. The balance sheet is reasonably clean with approximately $90M in cash and short-term investments against $116M in convertible notes outstanding, and stockholders' equity of around $215M at end of FY2024. A large installed base of 45M+ CPEs and 50k+ RPDs provides recurring service revenue and customer stickiness. However, financial performance has deteriorated meaningfully from the 2022 peak. Revenue declined from $648.7M in FY2022 to $554.4M in FY2024 (a ~15% peak-to-trough drop), and GAAP operating income turned modestly negative in FY2024 due to fixed cost absorption and restructuring. This reveals tight operating leverage when revenue contracts. The company also shows classic capex-cycle volatility driven by cable MSO spending patterns. The 2025 divestiture of the Video business to MediaKind should bring cash proceeds and strategic focus on pure-play broadband, though it introduces execution risk. The single most important risk is extreme customer concentration—Comcast alone has historically contributed 25-35% of revenue in peak years, with top 5 customers accounting for ~50-55% of consolidated revenue. Cyclical broadband capex, competitive pressure from CommScope, Cisco, Nokia, Adtran and Calix, and geopolitical exposure via major R&D operations in Israel further constrain resilience.

Key strengths: Technology leadership in vCMTS/virtualized broadband access (cOS platform), Tier-1 operator wins: Comcast, Charter, Vodafone, and 150+ operators, Clean balance sheet with ~$90M cash vs ~$116M convertible notes, Large installed base: 45M+ CPEs and 50k+ RPDs, Strategic simplification via MediaKind divestiture unlocking pure-play broadband focus, Growing recurring/SaaS revenue component (VOS360, cOS Central, Beacon)

Risk factors: Extreme customer concentration—Comcast historically 25-35% of revenue; top 5 customers ~50-55%, Cyclical capex spending by cable MSOs causing revenue swings, GAAP operating loss in FY2024 shows tight operating leverage, Competitive pressure from CommScope, Cisco, Casa Systems, Vecima, Nokia, Adtran, Calix, Convertible debt of ~$116M as claim on cash, Execution risk on post-divestiture transition to pure-play broadband, Geopolitical exposure with significant R&D workforce in Israel, Shift by cable operators toward FTTH threatening HFC-centric product lines

Revenue by geography

Revenue by product/service

Workforce by country

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