Harmonic Inc. (HLIT) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
4300 NORTH FIRST STREET SAN JOSE, CA 95134 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3663 - Radio and Television Broadcasting and Communications Equipment (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 89,586 | 133,431 | 98,645 | 93,058 | 65,989 | 57,024 | |||
| Cash and cash equivalents | 89,586 | 133,431 | 98,645 | 93,058 | 65,989 | 57,024 | |||
| Restricted cash and investments | 530 | ||||||||
| Receivables | 108,427 | 88,529 | 66,727 | 95,843 | 89,100 | 76,453 | |||
| Inventory, net of allowances, customer advances and progress billings | 120,949 | 71,195 | 35,031 | 29,042 | 25,638 | 25,976 | |||
| Inventory | 120,949 | 71,195 | 35,031 | 29,042 | 25,638 | 25,976 | |||
| Prepaid expense | 5,558 | 8,074 | 11,453 | ||||||
| Contract with customer, asset, after allowance for credit loss | 5,583 | 8,101 | 9,800 | 13,969 | 3,834 | ✕ | |||
| Deferred costs | 2,631 | 3,671 | |||||||
| Other undisclosed current assets | 15,196 | 13,797 | 16,379 | 16,819 | 8,470 | 11,792 | |||
| Total current assets: | 345,299 | 323,127 | 238,035 | 251,362 | 196,702 | 171,775 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 25,469 | 30,968 | 27,556 | 27,491 | ✕ | ✕ | |||
| Property, plant and equipment | 39,814 | 42,721 | 43,141 | 22,928 | 22,321 | 29,265 | |||
| Intangible assets, net (including goodwill) | 237,739 | 240,213 | 244,182 | 244,241 | 253,435 | 264,106 | |||
| Goodwill | 237,739 | 240,213 | 243,674 | 239,780 | 240,618 | 242,827 | |||
| Intangible assets, net (excluding goodwill) | 508 | 4,461 | 12,817 | 21,279 | |||||
| Deferred income tax assets | ✕ | ✕ | |||||||
| Other noncurrent assets | 61,697 | 56,657 | 38,609 | 41,305 | 38,377 | 42,913 | |||
| Total noncurrent assets: | 364,719 | 370,559 | 353,488 | 335,965 | 314,133 | 336,284 | |||
| TOTAL ASSETS: | 710,018 | 693,686 | 591,523 | 587,327 | 510,835 | 508,059 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 67,455 | 64,429 | 23,543 | 104,694 | 87,638 | 82,050 | |||
| Taxes payable | ✕ | ✕ | 1,226 | 1,099 | 233 | ||||
| Accounts payable | 67,455 | 64,429 | 23,543 | 40,933 | 33,778 | 33,112 | |||
| Accrued liabilities | 62,535 | 52,761 | 48,705 | ||||||
| Deferred revenue | 62,383 | 57,226 | 54,294 | 37,117 | ✕ | ✕ | |||
| Debt | 118,737 | 41,816 | 11,771 | 6,713 | 7,175 | 7,610 | |||
| Restructuring reserve | 1,500 | 3,335 | |||||||
| Other liabilities | 66,724 | 53,644 | 50,333 | ||||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 52,429 | ||
| Other undisclosed current liabilities | 6,773 | 7,346 | 7,354 | 41,875 | 38,257 | ||||
| Total current liabilities: | 322,072 | 224,461 | 147,295 | 191,899 | 136,405 | 142,089 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 11,161 | 141,050 | 165,664 | 10,511 | 12,684 | 15,336 | |||
| Long-term debt, excluding current maturities | 11,161 | 111,930 | 139,593 | 88,629 | 114,808 | 108,748 | |||
| Other undisclosed long-term debt and lease obligation | (103,884) | (102,124) | (93,412) | ||||||
| Liabilities, other than long-term debt | 52,279 | 31,379 | 20,262 | 44,832 | 25,506 | 28,542 | |||
| Accounts payable and accrued liabilities | 178 | 460 | 917 | ||||||
| Liability, pension and other postretirement and postemployment benefits | 4,818 | 4,999 | |||||||
| Restructuring reserve | 3,400 | 2,000 | |||||||
| Other liabilities | 28,169 | 31,379 | 20,262 | 41,254 | 18,228 | 22,626 | |||
| Operating lease, liability | 24,110 | 29,120 | 26,071 | 25,766 | ✕ | ✕ | |||
| Other undisclosed noncurrent liabilities | 85,229 | 107,990 | 103,749 | ||||||
| Total noncurrent liabilities: | 63,440 | 172,429 | 185,926 | 140,572 | 146,180 | 147,627 | |||
| Total liabilities: | 385,512 | 396,890 | 333,221 | 332,471 | 282,585 | 289,716 | |||
| Temporary equity, carrying amount | 883 | 2,410 | |||||||
| Equity | |||||||||
| Equity, attributable to parent | 324,506 | 295,913 | 258,302 | 252,446 | 228,250 | 218,343 | |||
| Common stock | 110 | 103 | 98 | 92 | 87 | 83 | |||
| Additional paid in capital | 2,380,651 | 2,387,039 | 2,353,559 | 2,327,359 | 2,296,795 | 2,272,690 | |||
| Accumulated other comprehensive income (loss) | (9,686) | (3,272) | 5,856 | (3,065) | (1,216) | 3,382 | |||
| Accumulated deficit | (2,046,569) | (2,087,957) | (2,101,211) | (2,071,940) | (2,067,416) | (2,057,812) | |||
| Total equity: | 324,506 | 295,913 | 258,302 | 252,446 | 228,250 | 218,343 | |||
| TOTAL LIABILITIES AND EQUITY: | 710,018 | 693,686 | 591,523 | 587,327 | 510,835 | 508,059 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 624,957 | 507,149 | 378,831 | 402,874 | 403,558 | 358,246 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 358,246 | |
| Cost of revenue (Cost of Goods and Services Sold) | (309,073) | (247,407) | (183,834) | (179,862) | (194,349) | (188,426) | ||
| Gross profit: | 315,884 | 259,742 | 194,997 | 223,012 | 209,209 | 169,820 | ||
| Operating expenses | (270,365) | (240,933) | (207,446) | (209,929) | (214,220) | (240,697) | ||
| Operating income (loss): | 45,519 | 18,809 | (12,449) | 13,083 | (5,011) | (70,877) | ||
| Nonoperating income (expense) | 6,691 | 5,813 | (12,406) | (13,984) | (11,937) | (13,830) | ||
| Investment income, nonoperating | (11,651) | (11,401) | (11,608) | |||||
| Gain (loss), foreign currency transaction, before tax | 2,685 | 5,126 | (6,391) | 290 | 1,906 | (2,369) | ||
| Other nonoperating income (expense) | 4,006 | 687 | (897) | (2,333) | (536) | (2,222) | ||
| Interest and debt expense | (5,040) | (10,625) | (12,871) | (5,695) | (11,190) | (10,619) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 11,509 | 11,190 | 10,619 | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 47,170 | 13,997 | (26,217) | (6,596) | (16,948) | (84,707) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (2,685) | (5,126) | ||||||
| Income (loss) from continuing operations before income taxes: | 44,485 | 8,871 | (26,217) | (6,596) | (16,948) | (84,707) | ||
| Income tax expense (benefit) | (16,303) | 4,383 | (3,054) | 672 | (4,087) | 1,752 | ||
| Income (loss) from continuing operations: | 28,182 | 13,254 | (29,271) | (5,924) | (21,035) | (82,955) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 13,254 | (29,271) | (5,924) | (21,035) | (82,955) | |
| Net income (loss) available to common stockholders, diluted: | 28,182 | 13,254 | (29,271) | (5,924) | (21,035) | (82,955) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 28,182 | 13,254 | (29,271) | (5,924) | (21,035) | (82,955) | ||
| Other comprehensive income (loss) | 626 | (8,255) | 8,921 | (2,140) | (4,598) | 10,652 | ||
| Comprehensive income (loss): | 28,808 | 4,999 | (20,350) | (8,064) | (25,633) | (72,303) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (7,040) | (873) | 291 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | 21,768 | 4,126 | (20,350) | (7,773) | (25,633) | (72,303) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.