Harmonic’s technique to diversify its enterprise nicely past its two marquee clients – Comcast and Spectrum – continued as the corporate disclosed that two further clients represented 10% or extra of revenues within the third quarter of 2026.
Harmonic mentioned 37% and 16% of Q3 gross sales have been from both Comcast or Spectrum, but it surely did not match these percentages with the precise operator. Raymond James analyst Simon Leopold mentioned in a analysis observe that he believes Comcast represented 37% and Spectrum represented 16% in Q3.
Harmonic additionally didn’t disclose the opposite two 10% or better clients within the interval, however their inclusion helped the corporate to develop past its typical high two for the primary time in latest reminiscence. Harmonic’s “rest-of-market” (ROM) revenues (revenues from operators which can be not Comcast or Constitution) hit 46% of gross sales in Q2, double the place it was within the year-ago interval. ROM additionally represented greater than 60% of bookings within the interval.
Leopold mentioned this pattern factors to the success Harmonic is having with regards to diversifying its enterprise on a longer-term foundation and factors to a number of the momentum it’s seeing within the fiber-to-the-premises (FTTP) sector. cOS – Harmonic’s entry community virtualization platform – was initially developed for hybrid fiber/coax (HFC) networks however has additionally been tailored for FTTP networks.
Rising fiber focus
Harmonic can be shoring up its place within the PON market by acquisition. Billed as a “tuck-in,” Harmonic just lately closed its purchase of Int6 Tech, a Brazil-based firm that has constructed a fiber administration platform designed to work with a number of PON distributors. Harmonic’s cOS Loop product relies on Int6 Tech’s platform, which handles components comparable to optical line terminal (OLT) and optical community terminal (ONT) provisioning, distant diagnostics and in-home buyer premises tools (CPE) administration.
At Harmonic’s investor day in September, Harmonic President and CEO Nimrod Ben-Natan mentioned Int6 Tech had about 40 clients that collectively serve roughly 7 million subscribers. Ben-Natan mentioned on Monday’s earnings name that cOS Loop continues to do nicely with established clients in Brazil and is seeing curiosity from Harmonic accounts in North America and Europe.
Elsewhere on the planet of PON, Harmonic mentioned it has launched Recon, a fiber monitoring platform developed with Comcast designed to proactively pinpoint degradation and fiber cuts. In its bid to make the community extra dependable, Comcast started to deploy fiber-sensing know-how final month, but it surely didn’t name out Recon by title.
That fiber exercise ties into Harmonic’s main development engine of connectivity alongside two longer-term drivers – intelligence and edge AI compute – that it recognized at investor day. Harmonic zeroed in on broadband after promoting its video division to MediaKind.
Harmonic, which ended Q3 with $142.8 million, reiterated that it’s going to proceed to discover strategic M&A that can assist additional diversify its enterprise.
Harmonic added six cOS clients in Q3, elevating its whole to 167. These cOS deployments serve practically 53 million broadband CPE. Current cOS wins embody Lightcurve and Cablenet, a Cyprus-based operator.
Harmonic ups steering, once more
Harmonic Q3 gross sales jumped 64% to $148.8 million versus the year-ago quarter. That was nicely above $129.5 million anticipated by analysts in addition to Harmonic’s income steering of a variety of $125 million to $135 million.
Fueled by gross sales momentum exterior of Comcast and Spectrum, Harmonic additionally raised full-year 2026 steering for the third time this yr. It now expects full-year revenues of $545 million to $555 million, up from prior steering of $505 million to $525 million.
“The accelerating development from the extra fragmented group of smaller regional cable operators improves buyer diversification, and may enhance investor confidence in Harmonic’s long-term story,” Leopold mentioned.
Harmonic shares have been up 2% in noon buying and selling Tuesday.