Harmonic Inc. cash flow statement HLIT

Annual Quarterly

In Q4 of fiscal 2025, the quarter ended Dec 31, 2025, Harmonic Inc. generated $12.3 million of cash from operations, down 74.7% from the same quarter a year earlier. It spent $2.7 million on capital expenditures. That left free cash flow of $9.6 million. The company returned $13.3 million in share buybacks to shareholders.

USD in millions, except per-share amounts and ratios. The percent under a figure is the change from the same quarter a year earlier.

Q4 FY2025
Dec 31, 2025
Q3 FY2025
Sep 26, 2025
Q2 FY2025
Jun 27, 2025
Q1 FY2025
Mar 28, 2025
Q4 FY2024
Dec 31, 2024
Q3 FY2024
Sep 27, 2024
Q2 FY2024
Jun 28, 2024
Q1 FY2024
Mar 29, 2024
Operating
Depreciation and amortization
3
-3.4%
3
-1.3%
3
-17.2%
3
-11.8%
3
-3.5%
3
-7.4%
3
+5.5%
3
+1.8%
Stock-based compensation
8
-1.1%
7
+28.3%
8
+10.7%
8
+22.3%
8
+28.5%
6
-21.1%
7
+14.8%
7
-6.7%
Operating cash flow
12
-74.7%
24
+172.6%
-12
+47.2%
84
+211.7%
49
+674.4%
9
-21.0%
-22
-34.1%
27
+327.8%
Investing
Capital expenditures
3
+14.1%
3
-8.4%
4
+95.4%
2
-2.0%
2
-13.9%
3
+55.7%
2
+29.5%
2
-18.0%
Investing cash flow
-3
-14.1%
-3
+8.4%
-4
-95.4%
-2
+2.0%
-2
-165.5%
-3
+63.7%
-2
-29.5%
-2
+18.0%
Financing
Debt issued
40
55
-15
-113.0%
—
0
0
115
—
Debt repaid
—
—
—
0
—
—
—
—
Stock buybacks
13
16
14
+67.5%
36
+66.5%
0
0
8
22
Financing cash flow
-15
-1046.8%
-18
-703.5%
-13
-15.9%
-36
-51.1%
-1
+35.9%
3
+19.2%
-11
-444.1%
-24
-598.0%
Change in cash
Effect of exchange rate
2
+217.6%
0
-85.7%
4
+1005.9%
2
+259.0%
-2
-299.3%
1
+251.3%
-0
-287.1%
-1
-229.5%
Net change in cash
-3
-107.5%
3
-64.7%
-25
+30.3%
47
+131147.2%
43
+400.6%
10
+112.1%
-36
-79.1%
0
-97.2%
Free cash flow
10
-79.2%
21
+266.8%
-15
+35.7%
82
+228.1%
46
+1204.3%
6
-37.2%
-24
-33.7%
25
+532.4%
Per share
Free cash flow per share
0.09
-78.3%
0.19
+279.8%
-0.14
+34.8%
0.70
+215.0%
0.39
+1182.1%
0.05
-40.0%
-0.21
-38.6%
0.22
+562.8%
Shareholder returns
Returned to shareholders
13
16
14
36
0
0
8
22
Share of free cash flow
138.06%
74.41%
—
44.14%
0.00%
0.00%
—
87.02%
Ratios
Free cash flow margin
-18.13%
14.78%
-17.83%
96.29%
145.95%
2.93%
-17.37%
20.41%
Capital expenditures to revenue
-5.05%
1.92%
4.37%
2.21%
7.41%
1.52%
1.40%
1.57%
Stock-based compensation to revenue
-15.84%
5.14%
8.86%
9.97%
26.82%
2.92%
5.01%
5.67%
Cash conversion
—
8.82x
-4.07x
14.07x
1.27x
0.40x
—
—
How these figures are calculated

Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions, except per-share amounts and ratios. Capital expenditures, debt repaid, dividends, and buybacks are positive amounts. Investing and financing cash flow keep the filing sign, so an outflow is negative. Free cash flow is operating cash flow minus capital expenditures. Returned to shareholders is dividends plus buybacks. Free cash flow margin, capital expenditures, and stock-based compensation are divided by revenue. Cash conversion is operating cash flow divided by net income. More on our methodology.

Company profile

Industry
Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
Listed as
HLIT (Nasdaq)
Fiscal year ends
December 31
Incorporated in
DE
Headquarters
San Jose, CA
SEC filer status
Large accelerated filer
SEC CIK
851310
Former names
HARMONIC INC (until Aug 4, 2025); HARMONIC LIGHTWAVES INC (until Feb 16, 1999)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.