Harmonic

Today Harmonic is the worldwide leader in video delivery infrastructure solutions and the first to provide broadcasters, service providers and other media companies with emerging video capabilities that are ready to deploy on a global scale. At Harmonic we help our customers respond to the challenges of the digital video revolution while reaping its benefits, including the ability to deliver stunning video to viewers on any screen, anywhere. Our cutting-edge solutions power everything from HEVC (High Efficiency Video Coding) compression of Ultra HD video to blazing-fast transcoding of over-the-top (OTT) video-on-demand content.

Company Growth (employees)
Type
Public
HQ
San Jose, US
Size (employees)
1,376 (est)+40%
Harmonic is headquartered in San Jose, US

Key People at Harmonic

Patrick Harshman

Patrick Harshman

President and Chief Executive Officer
Shahar Bar

Shahar Bar

Senior Vice President, Corporate Development
Nimrod Ben-Natan

Nimrod Ben-Natan

Senior Vice President and General Manager, Cable Products
Charles Bonasera

Charles Bonasera

Senior Vice President, Operations

Harmonic Office Locations

Harmonic has offices in San Jose, Hong Kong, Noida, Chuo and in 13 other locations
San Jose, US (HQ)
4300 N First Street
Dubai, AE
Dubai Media City Al Thuraya 2, 805 Dubai 500717
Moskva, RU
Mosenka Park Towers Taganskaya Street 17 23 Building B, 11th Floor
Caesarea, IL
19 Alon Hatavor St., P.O.B 3600 Caesarea Industrial Park
Issy Les Moulineaux, FR
50 Rue Camille Desmoulins
Farnborough, GB
250 Fowler Ave
Show all (17)

Harmonic Data and Metrics

Harmonic Financial Metrics

Harmonic's revenue was reported to be $82.9 m in Q1, 2017
USD

Revenue (Q1, 2017)

82.9 m

Gross profit (Q1, 2017)

40.4 m

Gross profit margin (Q1, 2017), %

49%

Net income (Q1, 2017)

(24 m)

EBIT (Q1, 2017)

(21.2 m)

Market capitalization (21-Jul-2017)

337.2 m

Cash (31-Mar-2017)

55.3 m
Harmonic's current market capitalization is $337.2 m.
USDFY, 2011FY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Revenue

461.9 m433.6 m377 m405.9 m

Revenue growth, %

(6%)(13%)8%

Cost of goods sold

216.6 m214.5 m196.8 m172.3 m122 m205.2 m

Gross profit

265.2 m261.3 m255 m200.8 m

Gross profit Margin, %

57%60%68%49%

R&D expense

98.4 m

General and administrative expense

144.4 m

Operating expense total

243.5 m233.9 m215.7 m267.8 m

EBIT

(23 m)(21.6 m)(12.9 m)(67 m)

EBIT margin, %

(5%)(5%)(3%)(17%)

Pre tax profit

(23.2 m)(21.8 m)(16.1 m)(80.4 m)

Income tax expense

(651 k)(1.5 m)(44.7 m)24.5 m(407 k)(8.1 m)

Net Income

37 m(46.2 m)(15.7 m)(72.3 m)
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

109.6 m108.1 m104 m103.1 m83.3 m81.8 m109.6 m101.4 m82.9 m

Cost of goods sold

59.8 m54.6 m49 m48.7 m37.1 m41.2 m58.5 m50 m42.5 m

Gross profit

49.8 m53.4 m55 m54.4 m46.2 m40.7 m51 m51.4 m40.4 m

Gross profit Margin, %

45%49%53%53%55%50%47%51%49%

R&D expense

23.5 m22.8 m22.3 m21.8 m21.7 m23.6 m26.5 m24.2 m24.9 m

General and administrative expense

33 m32.1 m31.2 m31.3 m29 m32.9 m36.5 m36.1 m34.6 m

Operating expense total

56.5 m54.9 m53.5 m53.1 m50.6 m56.4 m63 m60.3 m59.5 m

EBIT

(8.6 m)(3.5 m)13 k(343 k)(6.3 m)(18.1 m)(11.9 m)(21.2 m)

EBIT margin, %

(8%)(3%)0%(0%)(8%)(17%)(12%)(26%)

Interest expense

(2.6 m)

Pre tax profit

(8.7 m)(3.8 m)(2.9 m)(267 k)(6.1 m)(24.7 m)(20.4 m)(16.3 m)(24.3 m)

Income tax expense

28.4 m(4.8 m)727 k(1.3 m)518 k242 k(242 k)(232 k)

Net Income

(37.1 m)1.1 m(2.7 m)(994 k)(4.8 m)(25.2 m)(20.7 m)(16 m)(24 m)
USDY, 2009Y, 2010Y, 2011Y, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

152.5 m96.5 m91 m96.7 m90.3 m73 m126.2 m55.6 m

Accounts Receivable

75.1 m74.1 m69.5 m86.8 m

Inventories

36.9 m32.7 m38.8 m41.2 m

Current Assets

328.7 m232.7 m286.1 m216.8 m

PP&E

34.9 m27.2 m27 m32.2 m

Goodwill

198 m197.9 m197.8 m237.3 m

Total Assets

606.1 m480.5 m525 m554.1 m

Accounts Payable

22.4 m15.3 m19.4 m28.9 m

Current Liabilities

85.1 m89.9 m84.9 m144.9 m

Total Liabilities

283.4 m

Additional Paid-in Capital

2.3 b2.3 b2.2 b2.3 b

Retained Earnings

(1.8 b)(1.9 b)(1.9 b)(2 b)

Total Equity

328.2 m270.6 m

Financial Leverage

1.6 x2 x
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

59.2 m42 m79.7 m76 m61.6 m57 m51.5 m44.7 m55.3 m

Accounts Receivable

79.9 m75.6 m75.9 m76.1 m64.1 m95.5 m102.7 m99.1 m69.8 m

Inventories

30.2 m32.5 m31.5 m32.5 m39.9 m42.4 m36.6 m35.8 m39.9 m

Current Assets

275 m234.8 m243.1 m245.9 m226.6 m256.4 m247.9 m226.1 m192.4 m

PP&E

32.8 m30.8 m27.1 m27.1 m26.6 m36.8 m36.5 m35.1 m31.7 m

Goodwill

198.1 m198 m197.8 m197.9 m197.8 m237.9 m235.4 m239.9 m237.9 m

Total Assets

532.4 m489.7 m486.8 m489.2 m466.9 m610.7 m588 m565.5 m530.7 m

Accounts Payable

24.6 m21.4 m18.5 m21.3 m16.6 m31.8 m35.8 m31.4 m22.3 m

Current Liabilities

97 m87.8 m96.2 m98.3 m89.3 m161.9 m158.8 m143.5 m141.4 m

Additional Paid-in Capital

2.3 b2.3 b2.3 b2.3 b2.3 b2.2 b2.2 b2.2 b2.3 b

Retained Earnings

(1.9 b)(1.9 b)(1.9 b)(1.9 b)(1.9 b)(1.9 b)(1.9 b)(2 b)(2 b)

Total Equity

371.2 m359.9 m311.3 m292.1 m281.5 m251.4 m

Financial Leverage

1.3 x1.3 x2 x2 x2 x2.1 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

37 m(46.2 m)(15.7 m)(72.3 m)

Depreciation and Amortization

8.1 m6.8 m5.8 m10.4 m

Accounts Receivable

9.9 m(1 m)2.6 m(2.6 m)

Inventories

13.3 m1.6 m(6 m)(4.1 m)

Accounts Payable

(3.4 m)56 k4.7 m5.8 m

Cash From Operating Activities

53.8 m47.4 m6.4 m438 k

Purchases of PP&E

(14.6 m)(10.1 m)(14.4 m)(15.1 m)

Cash From Investing Activities

51.1 m27.8 m(10.4 m)(70.5 m)

Cash From Financing Activities

(111.2 m)(92 m)57.5 m(152 k)
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

(37.1 m)1.1 m(2.7 m)(994 k)(4.8 m)(25.2 m)(20.7 m)(16 m)(24 m)

Depreciation and Amortization

1.7 m1.7 m1.4 m1.4 m1.4 m2.4 m4.2 m3 m774 k

Accounts Receivable

79.9 m75.6 m75.9 m76.1 m64.1 m95.5 m102.7 m99.1 m69.8 m

Inventories

30.2 m32.5 m31.5 m32.5 m39.9 m42.4 m36.6 m35.8 m39.9 m

Accounts Payable

24.6 m21.4 m18.5 m21.3 m16.6 m31.8 m35.8 m31.4 m22.3 m
USDY, 2017

Revenue/Employee

60.3 k

Financial Leverage

2.1 x

Harmonic Operating Metrics

Harmonic's Patent Applications was reported to be 80 in Q1, 2017. Harmonic's Backlog was reported to be $188.4 m in FY, 2016, which is a 57% increase from the previous period
Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017

Patents (US)

53545455555657597269697173

Patents (foreign)

333333343435353511842424444

Patent Applications

222222232224263013978907880

Satellite Operators

100100100

Backlog

$128.7 m$120.1 m$188.4 m

    Harmonic Market Value History

    Harmonic Revenue Breakdown

    Harmonic Median Salaries

    Source: 51 public H-1B filings from Harmonic

    Harmonic Online and Social Media Presence

    Harmonic News and Updates

    Harmonic Company Life and Culture

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