Report income with Broadband income up 92% hour over hour
Video returned to profitability with more than 10% Adjusted EBITDA margin
SAN JOSE, Calif., Oct. 28, 2024 /PRNewswire/ — Harmonic Inc. (NASDAQ: HLIT) nowadays introduced its unaudited effects for the 3rd quarter of 2024.
“Our third quarter results demonstrated strong execution as we achieved record total company revenue and Adjusted EBITDA, with both broadband and video revenue exceeding expectations,” mentioned Nimrod Ben-Natan, president and eminent government officer of Harmonic. “This strong quarterly performance coupled with our market leading technology solutions leaves us well-positioned for further future growth.”
Q3 Monetary and Trade Highlights
Monetary
- Income: $195.8 million, up 54% in comparison to $127.2 million within the prior hour duration
- Broadband section income: $145.3 million, in comparison to $75.8 million within the prior hour duration
- Video section income: $50.4 million, in comparison to $51.4 million within the prior hour duration
- Improper margin: GAAP 53.5% and non-GAAP 53.7%, each upper in comparison to GAAP 48.5% and non-GAAP 49.5% within the prior hour duration
- Broadband section non-GAAP rude margin: 48.3% in comparison to 44.5% within the prior hour duration
- Video section non-GAAP rude margin: 69.0% in comparison to 56.9% within the prior hour duration
- Running source of revenue (loss): GAAP source of revenue $35.4 million and non-GAAP source of revenue $44.5 million, in comparison to GAAP loss $8.6 million and non-GAAP source of revenue $0.1 million within the prior hour duration
- Web source of revenue (loss): GAAP internet source of revenue $21.7 million and non-GAAP internet source of revenue of $29.9 million, in comparison to GAAP internet loss $6.5 million and non-GAAP internet source of revenue $0.0 million within the prior hour duration
- Non-GAAP adjusted EBITDA: $43.4 million source of revenue in comparison to $3.5 million source of revenue within the prior hour duration
- Web source of revenue (loss) in step with proportion: GAAP internet source of revenue in step with proportion of $0.19 and non-GAAP internet source of revenue in step with proportion of $0.26, in comparison to GAAP internet loss in step with proportion of $0.06 and non-GAAP internet source of revenue in step with proportion of $0.00 within the prior hour duration
- Backlog and deferred income of $584.7 million
- Money: $58.2 million, in comparison to $75.6 million within the prior hour duration
Trade
- Commercially deployed our cOSTM resolution with 121 consumers, serving 32.0 million cable modems
- Comcast and Harmonic demonstrated the business’s first Unified DOCSIS 4.0 and fiber resolution at SCTE TechExpo24, with Unified DOCSIS 4.0 era now to be had for all MSOs
- Greater Broadband buyer diversification with 7 fresh buyer wins, together with Bluepeak Fiber and Tribal In a position deciding on Harmonic’s cOS broadband platform
- Additional go on Video gross sales pipeline of bigger Equipment and Tier 1 SaaS alternatives
Choose Monetary Knowledge
|
GAAP |
Non-GAAP |
|||||||||||
|
Key Monetary Effects |
Q3 2024 |
Q2 2024 |
Q3 2023 |
Q3 2024 |
Q2 2024 |
Q3 2023 |
||||||
|
(Unaudited, in thousands and thousands, with the exception of in step with proportion knowledge) |
||||||||||||
|
Web income |
$ 195.8 |
$ 138.7 |
$ 127.2 |
* |
* |
* |
||||||
|
Web source of revenue (loss) |
$ 21.7 |
$ (12.5) |
$ (6.5) |
$ 29.9 |
$ 9.3 |
$ — |
||||||
|
Web source of revenue (loss) in step with proportion |
$ 0.19 |
$ (0.11) |
$ (0.06) |
$ 0.26 |
$ 0.08 |
$ 0.00 |
||||||
|
Alternative Monetary Knowledge |
Q3 2024 |
Q2 2024 |
Q3 2023 |
|||||||||
|
(Unaudited, in thousands and thousands) |
||||||||||||
|
Adjusted EBITDA for the quarter (1) |
$ 43.4 |
$ 16.1 |
$ 3.5 |
|||||||||
|
Bookings for the quarter |
$ 171.4 |
$ 72.4 |
$ 96.3 |
|||||||||
|
Backlog and deferred income as of quarter finish |
$ 584.7 |
$ 613.1 |
$ 627.2 |
|||||||||
|
Money and coins equivalents as of quarter finish |
$ 58.2 |
$ 45.9 |
$ 75.6 |
|||||||||
|
(1) Adjusted EBITDA is a Non-GAAP monetary measure. The following “Preliminary Net Income (loss) to Consolidated Segment Adjusted EBITDA Reconciliation” under for a reconciliation to internet source of revenue (loss), essentially the most related GAAP measure. |
|
* Now not appropriate |
Explanations referring to our worth of non-GAAP monetary measures and indistinguishable definitions, and reconciliations of our GAAP and Non-GAAP measures, are equipped within the categories under entitled “Use of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliations”.
Monetary Steering
|
This fall 2024 GAAP Monetary Steering |
|||||||||||
|
(Unaudited, in thousands and thousands, with the exception of |
Low |
Top |
|||||||||
|
Broadband |
Video |
General GAAP |
Broadband |
Video |
General GAAP |
||||||
|
Web income |
$ 160 |
$ 45 |
$ 205 |
$ 170 |
$ 50 |
$ 220 |
|||||
|
Improper margin % |
55.4 % |
56.7 % |
|||||||||
|
Improper benefit |
$ 114 |
$ 125 |
|||||||||
|
Tax fee |
26 % |
26 % |
|||||||||
|
Web source of revenue |
$ 30 |
$ 36 |
|||||||||
|
Web source of revenue in step with proportion |
$ 0.26 |
$ 0.31 |
|||||||||
|
Stocks (1) |
117.8 |
117.8 |
|||||||||
|
(1) Diluted stocks assumes inventory worth at $13.34 (Q3 2024 moderate worth). |
|
2024 GAAP Monetary Steering |
|||||||||||
|
(Unaudited, in thousands and thousands, with the exception of |
Low |
Top |
|||||||||
|
Broadband |
Video |
General GAAP |
Broadband |
Video |
General GAAP |
||||||
|
Web income (1) |
$ 477 |
$ 184 |
$ 662 |
$ 487 |
$ 189 |
$ 677 |
|||||
|
Improper margin % |
53.6 % |
54.0 % |
|||||||||
|
Improper benefit |
$ 354 |
$ 366 |
|||||||||
|
Tax fee |
26 % |
26 % |
|||||||||
|
Web source of revenue |
$ 31 |
$ 37 |
|||||||||
|
Web source of revenue in step with proportion |
$ 0.27 |
$ 0.32 |
|||||||||
|
Stocks (2) |
117.5 |
117.5 |
|||||||||
|
(1) Parts won’t sum to general because of rounding. |
|
(2) Diluted stocks assumes inventory worth at $13.34 (Q3 2024 moderate worth). |
|
This fall 2024 Non-GAAP Monetary Steering (1) |
|||||||||||
|
(Unaudited, in thousands and thousands, with the exception of |
Low |
Top |
|||||||||
|
Broadband |
Video |
General |
Broadband |
Video |
General |
||||||
|
Improper margin % |
53.0 % |
64.0 % |
55.4 % |
54.0 % |
66.0 % |
56.7 % |
|||||
|
Improper benefit |
$ 85 |
$ 29 |
$ 114 |
$ 92 |
$ 33 |
$ 125 |
|||||
|
Adjusted EBITDA(2) |
$ 54 |
$ 2 |
$ 55 |
$ 59 |
$ 5 |
$ 64 |
|||||
|
Tax fee |
21 % |
21 % |
|||||||||
|
Web source of revenue in step with proportion |
$ 0.33 |
$ 0.39 |
|||||||||
|
Stocks (3) |
117.8 |
117.8 |
|||||||||
|
(1) The following “Use of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliations on Financial Guidance” under. Parts won’t sum to general because of rounding. |
|
(2) The following “Net Income to Consolidated Adjusted EBITDA Reconciliation on Financial Guidance” under for a reconciliation to internet source of revenue, essentially the most related GAAP measure. |
|
(3) Diluted stocks assumes inventory worth at $13.34 (Q3 2024 moderate worth). |
|
2024 Non-GAAP Monetary Steering (1) |
|||||||||||
|
(Unaudited, in thousands and thousands, with the exception of |
Low |
Top |
|||||||||
|
Broadband |
Video |
General |
Broadband |
Video |
General |
||||||
|
Improper margin % |
49.6 % |
64.9 % |
53.9 % |
50.0 % |
65.4 % |
54.3 % |
|||||
|
Improper benefit |
$ 237 |
$ 120 |
$ 356 |
$ 244 |
$ 124 |
$ 368 |
|||||
|
Adjusted EBITDA(2) |
$ 118 |
$ 1 |
$ 119 |
$ 123 |
$ 4 |
$ 127 |
|||||
|
Tax fee |
21 % |
21 % |
|||||||||
|
Web source of revenue in step with proportion (3) |
$ 0.67 |
$ 0.73 |
|||||||||
|
Stocks (3) |
117.5 |
117.5 |
|||||||||
|
(1) The following “Use of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliations on Financial Guidance” under. Parts won’t sum to general because of rounding. |
|
(2) The following “Net Income to Consolidated Segment Adjusted EBITDA Reconciliation on Financial Guidance” under for a reconciliation to internet source of revenue, essentially the most related GAAP measure. |
|
(3) Diluted stocks assumes inventory worth at $13.34 (Q3 2024 moderate worth). |
Convention Name Knowledge
Harmonic will host a convention name to speak about its monetary effects at 2:00 p.m. PT (5:00 p.m. ET) on Monday, October 28, 2024. The reside webcast might be to be had at the Harmonic Investor Members of the family website online at http://investor.harmonicinc.com. To take part by means of phone, please sign in in journey the usage of this hyperlink, https://register.vevent.com/register/BI24dc955b30d3439abf656ef581cfa35c. A replay might be to be had then 5:00 p.m. PT at the identical website online.
About Harmonic Inc.
Harmonic (NASDAQ: HLIT), the global chief in virtualized broadband and video supply answers, allows media corporations and repair suppliers to bring ultra-high-quality video streaming and broadcast services and products to shoppers globally. The corporate revolutionized broadband networking by means of the business’s first virtualized broadband resolution, enabling operators to extra flexibly deploy gigabit web carrier to shoppers’ properties and cell gadgets. Whether or not simplifying OTT video supply by means of leading edge cloud and device platforms, or powering the supply of gigabit web services and products, Harmonic is converting the way in which media corporations and repair suppliers monetize reside and on-demand content material on each and every display. Additional info is to be had at www.harmonicinc.com.
Felony Realize Referring to Ahead-Having a look Statements
This press leave accommodates forward-looking statements throughout the that means of Division 27A of the Securities Employment of 1933 and Division 21E of the Securities Change Employment of 1934, together with statements indistinguishable to our expectancies referring to: internet income, rude margins, working bills, working source of revenue (loss), Adjusted EBITDA, tax expense and tax fee, and internet source of revenue (loss) in step with diluted proportion. Our expectancies referring to those issues won’t materialize, and untouched ends up in week classes are topic to dangers and uncertainties that might motive untouched effects to fluctuate materially from the ones projected. Those dangers come with, in refuse explicit form, refer to: buyer focus and consolidation; lack of a number of key consumers; delays or decreases in capital spending within the cable, satellite tv for pc, telco, broadcast and media industries; the likelihood that our merchandise is not going to generate gross sales which are commensurate with our expectancies or that our price of income or working bills might exceed our expectancies; the marketplace and era traits underlying our Broadband and Video companies is not going to proceed to build of their fresh course or occasion; the have an effect on of common financial statuses on our gross sales and operations; the combination of services bought in diverse geographies and the impact it has on rude margins; our talent to build fresh and enhanced merchandise in a well timed means and marketplace acceptance of our fresh or present merchandise; dangers related to our global operations; trade fee fluctuations of the currencies by which we habits trade; dangers related to our cOSTM and VOS product answers; dependence on diverse broadband and video business traits; stock control; the insufficiency of well timed availability or the have an effect on of will increase within the costs of portions or uncooked fabrics important to construct our merchandise; the impact of festival, on each income and rude margins; difficulties related to fast technological adjustments in our markets; dangers related to unpredictable gross sales cycles; our dependence on guarantee producers and sole or restricted supply providers; and the have an effect on on our trade of herbal failures. The forward-looking statements contained on this press leave also are topic to alternative dangers and uncertainties, together with the ones extra absolutely described in Harmonic’s filings with the Securities and Change Fee, together with our most up-to-date Annual Record on Mode 10-Ok for the hour ended December 31, 2023, our most up-to-date Quarterly Record on Mode 10-Q and our Stream Studies on Mode 8-Ok. The forward-looking statements on this press leave are according to data to be had to the Corporate as of the generation hereof, and Harmonic disclaims any legal responsibility to replace any forward-looking statements.
Utility of Non-GAAP Monetary Measures
The Corporate experiences its monetary ends up in accordance with accounting ideas most often authorised in the US (“GAAP” or referred to herein as “reported”). Alternatively, control believes that sure non-GAAP monetary measures serve control and alternative customers with alternative significant monetary data that are meant to be regarded as when assessing our ongoing efficiency. Our control often makes use of our supplemental non-GAAP monetary measures internally to grasp, govern and assessment our trade, determine working budgets, all set interior size objectives and produce working selections.
Those non-GAAP measures aren’t in keeping with, or an supplementary for, measures ready in keeping with most often authorised accounting ideas and is also other from non-GAAP measures old by way of alternative corporations. As well as, those non-GAAP measures aren’t according to any complete all set of accounting regulations or ideas. The Corporate believes that non-GAAP measures have obstacles in that they don’t mirror the entire quantities related to Harmonic’s result of operations as enthusiastic in keeping with GAAP and that those measures must best be old to judge Harmonic’s result of operations along with the corresponding GAAP measures.
The Corporate believes that the presentation of non-GAAP measures, when proven along with the corresponding GAAP measures, supplies helpful data to traders and control referring to monetary and trade traits on the subject of its monetary situation and its ancient and projected result of operations. Non-GAAP monetary measures must be seen along with, and no longer as an supplementary to, the Corporate’s reported effects ready in keeping with GAAP.
The non-GAAP measures offered listed here are: Improper benefit, working bills, source of revenue (loss) from operations, non-operating bills and internet source of revenue (loss), Adjusted EBITDA (together with the ones quantities as a share of income) and internet source of revenue (loss) in step with diluted proportion. The presentation of non-GAAP data isn’t supposed to be regarded as in isolation or as an alternative to effects ready in keeping with GAAP, and isn’t essentially related to non-GAAP effects printed by way of alternative corporations. A reconciliation of the ancient non-GAAP monetary measures mentioned on this press leave to essentially the most without delay related ancient GAAP monetary measures is integrated with the monetary statements supplied with this press leave. The non-GAAP changes described under have traditionally been excluded from our GAAP monetary measures.
Our non-GAAP monetary measures mirror changes according to refer to pieces, in addition to the indistinguishable source of revenue tax results:
Secure-based reimbursement – Even supposing stock-based reimbursement is a key incentive presented to our staff, we proceed to judge our trade efficiency aside from stock-based reimbursement bills. We consider that control is proscribed in its talent to challenge the have an effect on stock-based reimbursement would have on our working effects. As well as, for comparison functions, we consider it comes in handy to serve a non-GAAP monetary measure that excludes stock-based reimbursement to deliver to raised perceive the long-term efficiency of our core trade and to facilitate the comparability of our effects to the result of our peer corporations.
Restructuring and indistinguishable fees – Harmonic from month to month incurs restructuring fees which basically encompass worker severance, one-time termination advantages indistinguishable to the aid of its staff, and alternative prices. Those fees are related to subject material trade shifts. We exclude those pieces as a result of we do no longer consider they are reflective of our ongoing long-term trade and working effects.
Non-cash passion expense bills indistinguishable to convertible notes and alternative debt – We file the amortization of issuance prices as non-cash passion expense. We consider that aside from those prices supplies significant supplemental data referring to operational efficiency and liquidity, in conjunction with improving traders’ talent to view the Corporate’s effects from control’s standpoint. As well as, we consider aside from those prices from the non-GAAP measures facilitates comparisons to our ancient working effects and comparisons to see corporate working effects.
Discrete tax pieces and tax impact of non-GAAP changes – The source of revenue tax impact of non-GAAP changes pertains to the tax impact of the changes that we incorporate into non-GAAP monetary measures to deliver to serve a extra significant measure of non-GAAP internet source of revenue.
Depreciation – Depreciation expense, in conjunction with passion, tax and stock-based reimbursement expense, and restructuring fees, is excluded from Adjusted EBITDA as a result of we don’t consider depreciation and the alternative pieces relate to the regular process our trade or are reflective of our underlying trade efficiency.
Non-recurring advisory charges – There have been non-recurring prices that we excluded from non-GAAP effects on the subject of skilled accounting, tax and criminal charges related to strategic company tasks.
Asset impairment and indistinguishable fees – We exclude asset impairment and indistinguishable fees because of the character of such bills being extraordinary and bobbing up out of doors the regular route of constant operations. Those prices basically encompass impairments of fastened property, right-of-use property and indistinguishable leasehold enhancements, and alternative unrecoverable facility prices because of the supposed exchange in worth of sure rented length.
|
Harmonic Inc. Initial Condensed Consolidated Steadiness Sheets (Unaudited, in 1000’s, with the exception of par worth) |
|||
|
September 27, |
December 31, |
||
|
ASSETS |
|||
|
Stream property: |
|||
|
Money and coins equivalents |
$ 58,174 |
$ 84,269 |
|
|
Limited coins |
327 |
— |
|
|
Accounts receivable, internet |
173,730 |
141,531 |
|
|
Inventories |
73,864 |
83,982 |
|
|
Pay as you go bills and alternative fresh property |
30,273 |
20,950 |
|
|
General fresh property |
336,368 |
330,732 |
|
|
Trait and gear, internet |
28,396 |
36,683 |
|
|
Running rent right-of-use property |
13,471 |
20,817 |
|
|
Favor |
239,597 |
239,150 |
|
|
Deferred source of revenue taxes |
107,380 |
104,707 |
|
|
Alternative non-current property |
34,649 |
36,117 |
|
|
General property |
$ 759,861 |
$ 768,206 |
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|||
|
Stream liabilities: |
|||
|
Convertible debt |
$ — |
$ 114,880 |
|
|
Stream portion of long-term debt |
1,944 |
— |
|
|
Stream portion of alternative borrowings |
5,285 |
4,918 |
|
|
Accounts payable |
42,480 |
38,562 |
|
|
Deferred income |
50,891 |
46,217 |
|
|
Running rent liabilities |
5,971 |
6,793 |
|
|
Alternative fresh liabilities |
55,091 |
61,024 |
|
|
General fresh liabilities |
161,662 |
272,394 |
|
|
Lengthy-term debt |
112,819 |
— |
|
|
Alternative long-term borrowings |
9,458 |
10,495 |
|
|
Running rent liabilities, non-current |
15,647 |
18,965 |
|
|
Alternative non-current liabilities |
31,338 |
29,478 |
|
|
General liabilities |
330,924 |
331,332 |
|
|
Stockholders’ fairness: |
|||
|
Most well-liked inventory, $0.001 par worth, 5,000 stocks licensed; refuse stocks issued or remarkable |
— |
— |
|
|
Regular inventory, $0.001 par worth, 150,000 stocks licensed; 116,511 and 112,407 stocks |
117 |
112 |
|
|
Backup paid-in capital |
2,424,322 |
2,405,043 |
|
|
Collected insufficiency |
(1,991,615) |
(1,962,575) |
|
|
Collected alternative complete loss |
(3,887) |
(5,706) |
|
|
General stockholders’ fairness |
428,937 |
436,874 |
|
|
General liabilities and stockholders’ fairness |
$ 759,861 |
$ 768,206 |
|
|
Harmonic Inc. Initial Condensed Consolidated Statements of Operations (Unaudited, in 1000’s, with the exception of in step with proportion knowledge) |
|||||||
|
3 Months Ended |
9 Months Ended |
||||||
|
September 27, 2024 |
September 29, 2023 |
September 27, 2024 |
September 29, 2023 |
||||
|
Income: |
|||||||
|
Equipment and integration |
$ 153,685 |
$ 84,760 |
$ 329,464 |
$ 310,681 |
|||
|
SaaS and repair |
42,071 |
42,443 |
127,092 |
130,134 |
|||
|
General internet income |
195,756 |
127,203 |
456,556 |
440,815 |
|||
|
Value of income: |
|||||||
|
Equipment and integration |
77,683 |
48,992 |
171,635 |
166,177 |
|||
|
SaaS and repair |
13,341 |
16,527 |
43,651 |
43,960 |
|||
|
General price of income |
91,024 |
65,519 |
215,286 |
210,137 |
|||
|
General rude benefit |
104,732 |
61,684 |
241,270 |
230,678 |
|||
|
Running bills: |
|||||||
|
Analysis and building |
30,073 |
30,316 |
89,562 |
96,030 |
|||
|
Promoting, common and administrative |
35,851 |
39,245 |
114,537 |
121,300 |
|||
|
Asset impairment and indistinguishable fees |
3,103 |
— |
12,103 |
— |
|||
|
Restructuring and indistinguishable fees |
281 |
726 |
14,800 |
809 |
|||
|
General working bills |
69,308 |
70,287 |
231,002 |
218,139 |
|||
|
Source of revenue (loss) from operations |
35,424 |
(8,603) |
10,268 |
12,539 |
|||
|
Passion expense, internet |
(2,686) |
(619) |
(4,833) |
(2,125) |
|||
|
Alternative source of revenue (expense), internet |
(3,932) |
343 |
(3,602) |
(86) |
|||
|
Source of revenue (loss) earlier than source of revenue taxes |
28,806 |
(8,879) |
1,833 |
10,328 |
|||
|
Provision for (get pleasure from) source of revenue taxes |
7,088 |
(2,384) |
736 |
10,175 |
|||
|
Web source of revenue (loss) |
$ 21,718 |
$ (6,495) |
$ 1,097 |
$ 153 |
|||
|
Web source of revenue (loss) in step with proportion: |
|||||||
|
Ordinary |
$ 0.19 |
$ (0.06) |
$ 0.01 |
$ — |
|||
|
Diluted |
$ 0.19 |
$ (0.06) |
$ 0.01 |
$ — |
|||
|
Weighted moderate stocks remarkable: |
|||||||
|
Ordinary |
116,403 |
112,031 |
114,594 |
111,431 |
|||
|
Diluted |
117,358 |
112,031 |
117,385 |
117,910 |
|||
|
Harmonic Inc. Initial Condensed Consolidated Statements of Money Flows (Unaudited, in 1000’s) |
|||
|
9 Months Ended |
|||
|
September 27, 2024 |
September 29, 2023 |
||
|
Money flows from working actions: |
|||
|
Web source of revenue |
$ 1,097 |
$ 153 |
|
|
Changes to reconcile internet source of revenue to internet coins equipped by way of working actions: |
|||
|
Depreciation |
9,171 |
9,178 |
|
|
Asset impairment and indistinguishable fees |
12,103 |
— |
|
|
Secure-based reimbursement |
19,587 |
20,724 |
|
|
Foreign exchange remeasurement |
6,513 |
(814) |
|
|
Deferred source of revenue taxes, internet |
(2,673) |
2,026 |
|
|
Provision for profusion and out of date inventories |
3,135 |
6,514 |
|
|
Alternative changes |
435 |
1,689 |
|
|
Adjustments in working property and liabilities: |
|||
|
Accounts receivable, internet |
(31,611) |
(2,558) |
|
|
Inventories |
6,592 |
14,532 |
|
|
Alternative property |
(3,489) |
6,164 |
|
|
Accounts payable |
1,787 |
(20,606) |
|
|
Deferred revenues |
2,062 |
(9,208) |
|
|
Alternative liabilities |
(11,323) |
(27,002) |
|
|
Web coins equipped by way of working actions |
13,386 |
792 |
|
|
Money flows from making an investment actions: |
|||
|
Purchases of momentary investments |
— |
(6,305) |
|
|
Purchases of feature and gear |
(6,840) |
(5,749) |
|
|
Web coins old in making an investment actions |
(6,840) |
(12,054) |
|
|
Money flows from financing actions: |
|||
|
Proceeds from long-term debt |
115,000 |
— |
|
|
Reimbursement of convertible debt |
(115,500) |
— |
|
|
Bills for debt issuance prices |
(332) |
— |
|
|
Repurchase of habitual inventory |
(30,047) |
— |
|
|
Proceeds from alternative borrowings |
3,943 |
3,829 |
|
|
Reimbursement of alternative borrowings |
(4,797) |
(4,721) |
|
|
Proceeds from habitual inventory issued to staff |
6,628 |
6,552 |
|
|
Taxes paid indistinguishable to internet proportion agreement of fairness awards |
(6,877) |
(8,643) |
|
|
Web coins old in financing actions |
(31,982) |
(2,983) |
|
|
Impact of trade fee adjustments on coins and coins equivalents and limited coins |
(332) |
281 |
|
|
Web trim in coins and coins equivalents and limited coins |
(25,768) |
(13,964) |
|
|
Money and coins equivalents and limited coins at starting of duration |
84,269 |
89,586 |
|
|
Money and coins equivalents and limited coins at finish of duration |
$ 58,501 |
$ 75,622 |
|
|
Money and coins equivalents and limited coins at finish of duration |
|||
|
Money and coins equivalents |
$ 58,174 |
$ 75,622 |
|
|
Limited coins |
327 |
— |
|
|
General coins, coins equivalents and limited coins as proven within the condensed consolidated observation of money flows |
$ 58,501 |
$ 75,622 |
|
|
Harmonic Inc. Initial Condensed Consolidated Statements of Money Flows (Unaudited, in 1000’s) |
|||
|
9 Months Ended |
|||
|
September 27, 2024 |
September 29, 2023 |
||
|
Supplemental coins tide disclosure: |
|||
|
Source of revenue tax bills, internet |
$ 12,894 |
$ 6,376 |
|
|
Passion bills, internet |
$ 4,363 |
$ 1,921 |
|
|
Supplemental time table of non-cash making an investment actions: |
|||
|
Capital expenditures incurred however no longer but paid |
$ 709 |
$ 1,802 |
|
|
Supplemental time table of non-cash financing actions: |
|||
|
Stocks of habitual inventory issued upon redemption of the 2024 Notes |
4,578 |
— |
|
|
Harmonic Inc. Initial GAAP Income Knowledge (Unaudited, in 1000’s, with the exception of percentages) |
||||||||
|
3 Months Ended |
||||||||
|
September 27, 2024 |
June 28, 2024 |
September 29, 2023 |
||||||
|
Geography |
||||||||
|
Americas |
$ 167,720 |
86 % |
$ 109,597 |
79 % |
$ 91,221 |
72 % |
||
|
EMEA |
20,269 |
10 % |
22,680 |
16 % |
28,465 |
22 % |
||
|
APAC |
7,767 |
4 % |
6,463 |
5 % |
7,517 |
6 % |
||
|
General |
$ 195,756 |
100 % |
$ 138,740 |
100 % |
$ 127,203 |
100 % |
||
|
Marketplace |
||||||||
|
Carrier Supplier |
$ 159,993 |
82 % |
$ 104,429 |
75 % |
$ 87,747 |
69 % |
||
|
Broadcast and Media |
35,763 |
18 % |
34,311 |
25 % |
39,456 |
31 % |
||
|
General |
$ 195,756 |
100 % |
$ 138,740 |
100 % |
$ 127,203 |
100 % |
||
|
9 Months Ended |
||||||||
|
September 27, 2024 |
September 29, 2023 |
|||||||
|
Geography |
||||||||
|
Americas |
$ 370,348 |
81 % |
$ 318,294 |
72 % |
||||
|
EMEA |
66,509 |
15 % |
97,648 |
22 % |
||||
|
APAC |
19,699 |
4 % |
24,873 |
6 % |
||||
|
General |
$ 456,556 |
100 % |
$ 440,815 |
100 % |
||||
|
Marketplace |
||||||||
|
Carrier Supplier |
$ 351,115 |
77 % |
$ 314,439 |
71 % |
||||
|
Broadcast and Media |
105,441 |
23 % |
126,376 |
29 % |
||||
|
General |
$ 456,556 |
100 % |
$ 440,815 |
100 % |
||||
|
Harmonic Inc. Initial Section Knowledge (Unaudited, in 1000’s, with the exception of percentages) |
||||||||||||
|
3 Months Ended September 27, 2024 |
||||||||||||
|
Broadband |
Video |
General Section |
Changes (1) |
Consolidated |
||||||||
|
Web income |
$ 145,338 |
$ 50,418 |
$ 195,756 |
$ — |
$ 195,756 |
|||||||
|
Improper benefit |
70,256 |
(1) |
34,770 |
(1) |
105,026 |
(1) |
(294) |
104,732 |
||||
|
Improper margin % |
48.3 % |
(1) |
69.0 % |
(1) |
53.7 % |
(1) |
53.5 % |
|||||
|
3 Months Ended June 28, 2024 |
||||||||||||
|
Broadband |
Video |
General Section |
Changes (1) |
Consolidated |
||||||||
|
Web income |
$ 92,937 |
$ 45,803 |
$ 138,740 |
$ — |
$ 138,740 |
|||||||
|
Improper benefit |
44,236 |
(1) |
29,494 |
(1) |
73,730 |
(1) |
(273) |
73,457 |
||||
|
Improper margin % |
47.6 % |
(1) |
64.4 % |
(1) |
53.1 % |
(1) |
52.9 % |
|||||
|
3 Months Ended September 29, 2023 |
||||||||||||
|
Broadband |
Video |
General Section |
Changes (1) |
Consolidated |
||||||||
|
Web income |
$ 75,806 |
$ 51,397 |
$ 127,203 |
$ — |
$ 127,203 |
|||||||
|
Improper benefit |
33,763 |
(1) |
29,241 |
(1) |
63,004 |
(1) |
(1,320) |
61,684 |
||||
|
Improper margin % |
44.5 % |
(1) |
56.9 % |
(1) |
49.5 % |
(1) |
48.5 % |
|||||
|
9 Months Ended September 27, 2024 |
||||||||||||
|
Broadband |
Video |
General Section |
Changes (1) |
Consolidated |
||||||||
|
Web income |
$ 317,172 |
$ 139,384 |
$ 456,556 |
$ — |
$ 456,556 |
|||||||
|
Improper benefit |
151,986 |
(1) |
90,833 |
(1) |
242,819 |
(1) |
(1,549) |
241,270 |
||||
|
Improper margin % |
47.9 % |
(1) |
65.2 % |
(1) |
53.2 % |
(1) |
52.8 % |
|||||
|
9 Months Ended September 29, 2023 |
||||||||||||
|
Broadband |
Video |
General Section |
Changes (1) |
Consolidated |
||||||||
|
Web income |
$ 273,253 |
$ 167,562 |
$ 440,815 |
$ — |
$ 440,815 |
|||||||
|
Improper benefit |
133,129 |
(1) |
100,158 |
(1) |
233,287 |
(1) |
(2,609) |
230,678 |
||||
|
Improper margin % |
48.7 % |
(1) |
59.8 % |
(1) |
52.9 % |
(1) |
52.3 % |
|||||
|
(1) Section rude margin and section rude benefit are Non-GAAP monetary measures. The following “Use of Non-GAAP Financial Measures” above and “GAAP to Non-GAAP Reconciliations” under. |
|
Harmonic Inc. GAAP to Non-GAAP Reconciliations (Unaudited) (in 1000’s, with the exception of percentages and in step with proportion knowledge) |
|||||||||||
|
3 Months Ended September 27, 2024 |
|||||||||||
|
Income |
Improper Benefit |
General |
Source of revenue from |
General Non- |
Web Source of revenue |
||||||
|
GAAP |
$ 195,756 |
$ 104,732 |
$ 69,308 |
$ 35,424 |
$ (6,618) |
$ 21,718 |
|||||
|
Secure-based reimbursement |
— |
294 |
(5,416) |
5,710 |
— |
5,710 |
|||||
|
Restructuring and indistinguishable fees |
— |
— |
(281) |
281 |
— |
281 |
|||||
|
Asset impairment and indistinguishable fees (1) |
— |
— |
(3,103) |
3,103 |
— |
3,103 |
|||||
|
Discrete tax pieces and tax impact of non-GAAP changes |
— |
— |
— |
— |
— |
(871) |
|||||
|
General changes |
— |
294 |
(8,800) |
9,094 |
— |
8,223 |
|||||
|
Non-GAAP |
$ 195,756 |
$ 105,026 |
$ 60,508 |
$ 44,518 |
$ (6,618) |
$ 29,941 |
|||||
|
As a % of income (GAAP) |
53.5 % |
35.4 % |
18.1 % |
(3.4) % |
11.1 % |
||||||
|
As a % of income (Non-GAAP) |
53.7 % |
30.9 % |
22.7 % |
(3.4) % |
15.3 % |
||||||
|
Diluted internet source of revenue in step with proportion: |
|||||||||||
|
GAAP |
$ 0.19 |
||||||||||
|
Non-GAAP |
$ 0.26 |
||||||||||
|
Stocks old in in step with proportion calculation: |
|||||||||||
|
GAAP and Non-GAAP |
117,358 |
||||||||||
|
(1) Comprises write-off of $1.8 million for internally evolved capitalized device, and impairment fees of $0.8 million for right-of-use property, $0.1 million for leasehold enhancements and $0.4 million indistinguishable to the truthful worth of alternative unrecoverable facility prices. |
|
3 Months Ended June 28, 2024 |
|||||||||||
|
Income |
Improper Benefit |
General |
Source of revenue |
General Non- |
Web Source of revenue |
||||||
|
GAAP |
$ 138,740 |
$ 73,457 |
$ 89,087 |
$ (15,630) |
$ (805) |
$ (12,532) |
|||||
|
Secure-based reimbursement |
— |
273 |
(6,681) |
6,954 |
— |
6,954 |
|||||
|
Restructuring and indistinguishable fees |
— |
— |
(11,482) |
11,482 |
— |
11,482 |
|||||
|
Non-recurring advisory charges |
— |
— |
(406) |
406 |
— |
406 |
|||||
|
Asset impairment and indistinguishable fees (1) |
— |
— |
(9,000) |
9,000 |
— |
9,000 |
|||||
|
Non-cash passion expense indistinguishable to convertible notes |
— |
— |
— |
— |
338 |
338 |
|||||
|
Discrete tax pieces and tax impact of non-GAAP changes |
— |
— |
— |
— |
— |
(6,369) |
|||||
|
General changes |
— |
273 |
(27,569) |
27,842 |
338 |
21,811 |
|||||
|
Non-GAAP |
$ 138,740 |
$ 73,730 |
$ 61,518 |
$ 12,212 |
$ (467) |
$ 9,279 |
|||||
|
As a % of income (GAAP) |
52.9 % |
64.2 % |
(11.3) % |
(0.6) % |
(9.0) % |
||||||
|
As a % of income (Non-GAAP) |
53.1 % |
44.3 % |
8.8 % |
(0.3) % |
6.7 % |
||||||
|
Diluted internet source of revenue (loss) in step with proportion: |
|||||||||||
|
GAAP |
$ (0.11) |
||||||||||
|
Non-GAAP |
$ 0.08 |
||||||||||
|
Stocks old in in step with proportion calculation: |
|||||||||||
|
GAAP |
115,030 |
||||||||||
|
Non-GAAP |
116,690 |
||||||||||
|
(1) Comprises impairment fees of $2.9 million for right-of-use property, $4.2 million for leasehold enhancements, and $1.9 million indistinguishable to the truthful worth of alternative unrecoverable facility prices. |
|
3 Months Ended September 29, 2023 |
|||||||||||
|
Income |
Improper Benefit |
General |
Source of revenue |
General Non- |
Web Source of revenue |
||||||
|
GAAP |
$ 127,203 |
$ 61,684 |
$ 70,287 |
$ (8,603) |
$ (276) |
$ (6,495) |
|||||
|
Secure-based reimbursement |
— |
606 |
(6,635) |
7,241 |
— |
7,241 |
|||||
|
Restructuring and indistinguishable fees |
— |
714 |
(362) |
1,076 |
— |
1,076 |
|||||
|
Non-recurring advisory charges |
— |
— |
(364) |
364 |
— |
364 |
|||||
|
Non-cash passion expense indistinguishable to convertible notes |
— |
— |
— |
— |
226 |
226 |
|||||
|
Discrete tax pieces and tax impact of non-GAAP changes |
— |
— |
— |
— |
— |
(2,390) |
|||||
|
General changes |
— |
1,320 |
(7,361) |
8,681 |
226 |
6,517 |
|||||
|
Non-GAAP |
$ 127,203 |
$ 63,004 |
$ 62,926 |
$ 78 |
$ (50) |
$ 22 |
|||||
|
As a % of income (GAAP) |
48.5 % |
55.3 % |
(6.8) % |
(0.2) % |
(5.1) % |
||||||
|
As a % of income (Non-GAAP) |
49.5 % |
49.5 % |
0.1 % |
— % |
— % |
||||||
|
Diluted internet source of revenue (loss) in step with proportion: |
|||||||||||
|
GAAP |
$ (0.06) |
||||||||||
|
Non-GAAP |
$ 0.00 |
||||||||||
|
Stocks old in in step with proportion calculation: |
|||||||||||
|
GAAP |
112,031 |
||||||||||
|
Non-GAAP |
116,710 |
||||||||||
|
9 Months Ended September 27, 2024 |
|||||||||||
|
Income |
Improper Benefit |
General |
Source of revenue from |
General Non- |
Web Source of revenue |
||||||
|
GAAP |
$ 456,556 |
$ 241,270 |
$ 231,002 |
$ 10,268 |
$ (8,435) |
$ 1,097 |
|||||
|
Secure-based reimbursement |
— |
1,089 |
(18,498) |
19,587 |
— |
19,587 |
|||||
|
Restructuring and indistinguishable fees |
— |
460 |
(14,800) |
15,260 |
11 |
15,271 |
|||||
|
Non-recurring advisory charges |
— |
— |
(755) |
755 |
— |
755 |
|||||
|
Asset impairment and indistinguishable fees (1) |
— |
— |
(12,103) |
12,103 |
— |
12,103 |
|||||
|
Non-cash passion expense indistinguishable to convertible notes |
— |
— |
— |
— |
567 |
567 |
|||||
|
Discrete tax pieces and tax impact of non-GAAP changes |
— |
— |
— |
— |
— |
(9,778) |
|||||
|
General changes |
— |
1,549 |
(46,156) |
47,705 |
578 |
38,505 |
|||||
|
Non-GAAP |
$ 456,556 |
$ 242,819 |
$ 184,846 |
$ 57,973 |
$ (7,857) |
$ 39,602 |
|||||
|
As a % of income (GAAP) |
52.8 % |
50.6 % |
2.2 % |
(1.8) % |
0.2 % |
||||||
|
As a % of income (Non-GAAP) |
53.2 % |
40.5 % |
12.7 % |
(1.7) % |
8.7 % |
||||||
|
Diluted internet source of revenue in step with proportion: |
|||||||||||
|
GAAP |
$ 0.01 |
||||||||||
|
Non-GAAP |
$ 0.34 |
||||||||||
|
Stocks old in in step with proportion calculation: |
|||||||||||
|
GAAP and Non-GAAP |
117,385 |
||||||||||
|
(1) Comprises write-off of $1.8 million for internally evolved capitalized device, and impairment fees of $3.7 million for right-of-use property, $4.3 million for leasehold enhancements, and $2.3 million indistinguishable to the truthful worth of alternative unrecoverable facility prices. |
|
9 Months Ended September 29, 2023 |
|||||||||||
|
Income |
Improper Benefit |
General |
Source of revenue from |
General Non- |
Web Source of revenue |
||||||
|
GAAP |
$ 440,815 |
$ 230,678 |
$ 218,139 |
$ 12,539 |
$ (2,211) |
$ 153 |
|||||
|
Secure-based reimbursement |
— |
1,895 |
(18,829) |
20,724 |
— |
20,724 |
|||||
|
Restructuring and indistinguishable fees |
— |
714 |
(445) |
1,159 |
— |
1,159 |
|||||
|
Non-recurring advisory charges |
— |
— |
(2,499) |
2,499 |
— |
2,499 |
|||||
|
Non-cash passion expense indistinguishable to convertible notes |
— |
— |
— |
— |
672 |
672 |
|||||
|
Discrete tax pieces and tax impact of non-GAAP changes |
— |
— |
— |
— |
— |
3,099 |
|||||
|
General changes |
— |
2,609 |
(21,773) |
24,382 |
672 |
28,153 |
|||||
|
Non-GAAP |
$ 440,815 |
$ 233,287 |
$ 196,366 |
$ 36,921 |
$ (1,539) |
$ 28,306 |
|||||
|
As a % of income (GAAP) |
52.3 % |
49.5 % |
2.8 % |
(0.5) % |
— % |
||||||
|
As a % of income (Non-GAAP) |
52.9 % |
44.5 % |
8.4 % |
(0.3) % |
6.4 % |
||||||
|
Diluted internet source of revenue in step with proportion: |
|||||||||||
|
GAAP |
$ — |
||||||||||
|
Non-GAAP |
$ 0.24 |
||||||||||
|
Stocks old in in step with proportion calculation: |
|||||||||||
|
GAAP and Non-GAAP |
117,910 |
||||||||||
|
Harmonic Inc. Calculation of Adjusted EBITDA by way of Section (Unaudited) (In 1000’s, with the exception of percentages) |
|||
|
3 Months Ended September 27, 2024 |
|||
|
Broadband |
Video |
||
|
Source of revenue from operations (1) |
$ 38,192 |
$ 6,326 |
|
|
Depreciation |
2,001 |
859 |
|
|
Alternative non-operating expense, internet |
(2,733) |
(1,199) |
|
|
Adjusted EBITDA(2) |
$ 37,460 |
$ 5,986 |
|
|
Income |
$ 145,338 |
$ 50,418 |
|
|
Adjusted EBITDA margin % (2) |
25.8 % |
11.9 % |
|
|
3 Months Ended June 28, 2024 |
|||
|
Broadband |
Video |
||
|
Source of revenue (loss) from operations (1) |
$ 13,781 |
$ (1,569) |
|
|
Depreciation |
2,133 |
1,093 |
|
|
Alternative non-operating source of revenue, internet |
406 |
213 |
|
|
Adjusted EBITDA(2) |
$ 16,320 |
$ (263) |
|
|
Income |
$ 92,937 |
$ 45,803 |
|
|
Adjusted EBITDA margin % (2) |
17.6 % |
(0.6) % |
|
|
3 Months Ended September 29, 2023 |
|||
|
Broadband |
Video |
||
|
Source of revenue (loss) from operations (1) |
$ 6,128 |
$ (6,050) |
|
|
Depreciation |
1,746 |
1,343 |
|
|
Alternative non-operating source of revenue, internet |
211 |
132 |
|
|
Adjusted EBITDA(2) |
$ 8,085 |
$ (4,575) |
|
|
Income |
$ 75,806 |
$ 51,397 |
|
|
Adjusted EBITDA margin % (2) |
10.7 % |
(8.9) % |
|
|
9 Months Ended September 27, 2024 |
|||
|
Broadband |
Video |
||
|
Source of revenue (loss) from operations (1) |
$ 60,567 |
$ (2,594) |
|
|
Depreciation |
6,120 |
3,051 |
|
|
Alternative non-operating expense, internet |
(2,506) |
(1,085) |
|
|
Adjusted EBITDA(2) |
$ 64,181 |
$ (628) |
|
|
Income |
$ 317,172 |
$ 139,384 |
|
|
Adjusted EBITDA margin % (2) |
20.2 % |
(0.5) % |
|
|
9 Months Ended September 29, 2023 |
|||
|
Broadband |
Video |
||
|
Source of revenue (loss) from operations (1) |
$ 44,307 |
$ (7,386) |
|
|
Depreciation |
5,061 |
4,117 |
|
|
Alternative non-operating expense, internet |
(44) |
(42) |
|
|
Adjusted EBITDA(2) |
$ 49,324 |
$ (3,311) |
|
|
Income |
$ 273,253 |
$ 167,562 |
|
|
Adjusted EBITDA margin % (2) |
18.1 % |
(2.0) % |
|
|
(1) The following “Use of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliations” above. |
|
(2) Adjusted EBITDA and Adjusted EBITDA margin are Non-GAAP monetary measures. Refer under for the “Net Income (Loss) to Consolidated Segment Adjusted EBITDA Reconciliation”. |
|
Harmonic Inc. Initial Web Source of revenue (Loss) to Consolidated Section Adjusted EBITDA Reconciliation (Unaudited) (In 1000’s, with the exception of percentages) |
|||||
|
3 Months Ended |
|||||
|
September 27, 2024 |
June 28, 2024 |
September 29, 2023 |
|||
|
Web source of revenue (loss) (GAAP) |
$ 21,718 |
$ (12,532) |
$ (6,495) |
||
|
Provision for (get pleasure from) source of revenue taxes |
7,088 |
(3,903) |
(2,384) |
||
|
Passion expense, internet |
2,686 |
1,424 |
619 |
||
|
Depreciation |
2,860 |
3,226 |
3,089 |
||
|
EBITDA |
34,352 |
(11,785) |
(5,171) |
||
|
Changes |
|||||
|
Secure-based reimbursement |
5,710 |
6,954 |
7,241 |
||
|
Restructuring and indistinguishable fees |
281 |
11,482 |
1,076 |
||
|
Non-recurring advisory charges |
— |
406 |
364 |
||
|
Asset impairment and indistinguishable fees |
3,103 |
9,000 |
— |
||
|
General consolidated section adjusted EBITDA (Non-GAAP) |
$ 43,446 |
$ 16,057 |
$ 3,510 |
||
|
Income |
$ 195,756 |
$ 138,740 |
$ 127,203 |
||
|
Web source of revenue (loss) margin (GAAP) |
11.1 % |
(9.0) % |
(5.1) % |
||
|
Consolidated section Adjusted EBITDA margin (Non-GAAP) |
22.2 % |
11.6 % |
2.8 % |
||
|
9 Months Ended |
|||
|
September 27, 2024 |
September 29, 2023 |
||
|
Web source of revenue (GAAP) |
$ 1,097 |
$ 153 |
|
|
Provision for source of revenue taxes |
736 |
10,175 |
|
|
Passion expense, internet |
4,833 |
2,125 |
|
|
Depreciation |
9,171 |
9,178 |
|
|
EBITDA |
15,837 |
21,631 |
|
|
Changes |
|||
|
Secure-based reimbursement |
19,587 |
20,724 |
|
|
Restructuring and indistinguishable fees |
15,271 |
1,159 |
|
|
Non-recurring advisory charges |
755 |
2,499 |
|
|
Asset impairment and indistinguishable fees |
12,103 |
— |
|
|
General consolidated section adjusted EBITDA (Non-GAAP) |
$ 63,553 |
$ 46,013 |
|
|
Income |
$ 456,556 |
$ 440,815 |
|
|
Web source of revenue margin (GAAP) |
0.2 % |
— % |
|
|
Consolidated section Adjusted EBITDA margin (Non-GAAP) |
13.9 % |
10.4 % |
|
|
Harmonic Inc. GAAP to Non-GAAP Reconciliations on Monetary Steering (Unaudited) (In thousands and thousands, with the exception of percentages and in step with proportion knowledge) |
|||||||||||||||||||
|
This fall 2024 Monetary Steering (1) |
|||||||||||||||||||
|
Income |
Improper Benefit |
General Running |
Source of revenue from |
Web Source of revenue |
|||||||||||||||
|
GAAP |
$ 205 |
to |
$ 220 |
$ 114 |
to |
$ 125 |
$ 70 |
to |
$ 73 |
$ 44 |
to |
$ 52 |
$ 30 |
to |
$ 36 |
||||
|
Secure-based reimbursement expense |
— |
— |
(9) |
9 |
9 |
||||||||||||||
|
Tax impact of non-GAAP changes |
— |
— |
— |
— |
— |
to |
1 |
||||||||||||
|
General changes |
— |
— |
(9) |
9 |
9 |
to |
10 |
||||||||||||
|
Non-GAAP |
$ 205 |
to |
$ 220 |
$ 114 |
to |
$ 125 |
$ 61 |
to |
$ 64 |
$ 53 |
to |
$ 61 |
$ 39 |
to |
$ 46 |
||||
|
As a % of income (GAAP) |
55.4 % |
to |
56.7 % |
34.1 % |
to |
33.2 % |
21.5 % |
to |
23.6 % |
14.6 % |
to |
16.4 % |
|||||||
|
As a % of income (Non-GAAP) |
55.4 % |
to |
56.7 % |
29.8 % |
to |
29.1 % |
25.7 % |
to |
27.6 % |
19.0 % |
to |
20.9 % |
|||||||
|
Diluted internet source of revenue in step with proportion: |
|||||||||||||||||||
|
GAAP |
$ 0.26 |
to |
$ 0.31 |
||||||||||||||||
|
Non-GAAP |
$ 0.33 |
to |
$ 0.39 |
||||||||||||||||
|
Stocks old in in step with proportion calculation: |
|||||||||||||||||||
|
GAAP and Non-GAAP |
117.8 |
||||||||||||||||||
|
(1) Parts won’t sum to general because of rounding. |
|
2024 Monetary Steering (1) |
|||||||||||||||||||
|
Income |
Improper Benefit |
General Running |
Source of revenue from |
Web Source of revenue |
|||||||||||||||
|
GAAP |
$ 662 |
to |
$ 677 |
$ 354 |
to |
$ 366 |
$ 301 |
to |
$ 304 |
$ 54 |
to |
$ 62 |
$ 31 |
to |
$ 37 |
||||
|
Secure-based reimbursement expense |
— |
2 |
(27) |
29 |
29 |
||||||||||||||
|
Restructuring and indistinguishable fees |
— |
— |
(15) |
15 |
15 |
||||||||||||||
|
Non-recurring advisory charges |
— |
— |
(1) |
1 |
1 |
||||||||||||||
|
Asset impairment and indistinguishable fees |
— |
— |
(12) |
12 |
12 |
||||||||||||||
|
Non-cash passion expense indistinguishable to convertible notes |
— |
— |
— |
— |
1 |
||||||||||||||
|
Tax impact of non-GAAP changes |
— |
— |
— |
— |
(10) |
to |
(9) |
||||||||||||
|
General changes |
— |
2 |
(55) |
57 |
48 |
to |
49 |
||||||||||||
|
Non-GAAP |
$ 662 |
to |
$ 677 |
$ 356 |
to |
$ 368 |
$ 246 |
to |
$ 249 |
$ 111 |
to |
$ 119 |
$ 79 |
to |
$ 86 |
||||
|
As a % of income (GAAP) |
53.6 % |
to |
54.0 % |
45.5 % |
to |
44.9 % |
8.2 % |
to |
9.2 % |
4.7 % |
to |
5.5 % |
|||||||
|
As a % of income (Non-GAAP) |
53.9 % |
to |
54.3 % |
37.2 % |
to |
36.8 % |
16.7 % |
to |
17.6 % |
11.9 % |
to |
12.7 % |
|||||||
|
Diluted internet source of revenue in step with proportion: |
|||||||||||||||||||
|
GAAP |
$ 0.27 |
to |
$ 0.32 |
||||||||||||||||
|
Non-GAAP |
$ 0.67 |
to |
$ 0.73 |
||||||||||||||||
|
Stocks old in in step with proportion calculation: |
|||||||||||||||||||
|
GAAP and Non-GAAP |
117.5 |
||||||||||||||||||
|
(1) Parts won’t sum to general because of rounding. |
|
Harmonic Inc. Calculation of Adjusted EBITDA by way of Section on Monetary Steering (Unaudited) (1) (In thousands and thousands) |
|||||||
|
This fall 2024 Monetary Steering |
|||||||
|
Broadband |
Video |
||||||
|
Source of revenue from operations (2) |
$ 52 |
to |
$ 57 |
$ 1 |
to |
$ 4 |
|
|
Depreciation |
2 |
2 |
1 |
1 |
|||
|
Section adjusted EBITDA(3) |
$ 54 |
to |
$ 59 |
$ 2 |
to |
$ 5 |
|
|
2024 Monetary Steering |
|||||||
|
Broadband |
Video |
||||||
|
Source of revenue (loss) from operations (2) |
$ 112 |
to |
$ 117 |
$ (2) |
to |
$ 1 |
|
|
Depreciation |
9 |
9 |
4 |
4 |
|||
|
Alternative non-operating expense, internet |
(3) |
(3) |
(1) |
(1) |
|||
|
Section adjusted EBITDA(3) |
$ 118 |
to |
$ 123 |
$ 1 |
to |
$ 4 |
|
|
(1) Parts won’t sum to general because of rounding. |
|
(2) The following “Use of Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliations on Financial Guidance” above. |
|
(3) Section Adjusted EBITDA is a Non-GAAP monetary measure. Refer under for the “Net income to Consolidated Segment Adjusted EBITDA reconciliation on Financial Guidance”. |
|
Harmonic Inc. Web Source of revenue to Consolidated Section Adjusted EBITDA Reconciliation on Monetary Steering (Unaudited) (1) (In thousands and thousands) |
|||||||
|
This fall 2024 Monetary Steering |
2024 Monetary Steering |
||||||
|
Web source of revenue (GAAP) |
$ 30 |
to |
$ 36 |
$ 31 |
to |
$ 37 |
|
|
Provision for source of revenue taxes |
11 |
14 |
11 |
13 |
|||
|
Passion expense, internet |
2 |
2 |
7 |
7 |
|||
|
Depreciation |
3 |
3 |
13 |
13 |
|||
|
EBITDA |
46 |
to |
55 |
62 |
to |
70 |
|
|
Changes |
|||||||
|
Secure-based reimbursement |
9 |
9 |
29 |
29 |
|||
|
Restructuring and indistinguishable fees |
— |
— |
15 |
15 |
|||
|
Asset impairment and indistinguishable fees |
— |
— |
12 |
12 |
|||
|
Non-recurring advisory charges |
— |
— |
1 |
1 |
|||
|
General consolidated section adjusted EBITDA (Non-GAAP) (2) |
$ 55 |
to |
$ 64 |
$ 119 |
to |
$ 127 |
|
|
(1) Parts won’t sum to general because of rounding. |
|
(2) Consolidated Section adjusted EBITDA is a Non-GAAP monetary measure. The following “Use of Non-GAAP Financial Measures” above. |
SOURCE Harmonic Inc.
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