HLIT Harmonic Inc. - Common Stock
NASDAQ · Communications · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 17, 2026
$11.17
· of 52w range
· above low
· to high
$8.4752w low
$17.6852w high
Market Cap
$1.24B
P/E (TTM)
-27.2
EPS (TTM)
$-0.41
Revenue (TTM)
$345M
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52W Range
$8–$18
Analyst Rating
BUY
Price Target
$16
P/E
-27.2
ROE
-10.4%
Net Profit Margin
-13.7%
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HLIT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$11.17
Market Cap
$1.24B
P/E (TTM)
-27.2
EPS (TTM)
$-0.41
Revenue (TTM)
$345M
ROE
-10.4%
Debt/Equity
0.3
52W Range
$8–$18
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| Oct. 15, 1999 | 2-for-1 | Forward |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$361M2016-12-31 → 2025-12-31
EPS$-0.382019-12-31 → 2025-12-31
Free Cash Flow$97M2016-12-31 → 2025-12-31
Net margin-13.7%2016-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | HLIT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -27.25Y avg ≈36.5 | ≈36.5 | · | · | |
| P/S | 3.45Y avg ≈2.9 | ≈2.9 | 2.9 | Overvalued | |
| P/B | 3.25Y avg ≈3.6 | ≈3.6 | 2.2 | Overvalued | |
| EV / EBITDA | 87.4 | · | · | · | |
| Price / FCF | 12.85Y avg ≈-266.5 | ≈-266.5 | · | · | |
| Price / Cash Flow | 11.55Y avg ≈107.0 | ≈107.0 | 15.0 | Undervalued | |
| EV / Revenue | 3.4 | · | · | · | |
| EV / FCF | 12.7 | · | · | · | |
| Price / Tangible Book | 3.95Y avg ≈9.9 | ≈9.9 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | HLIT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 45.2%5Y avg ≈51.1% | ≈51.1% | 45.4% | In line | |
| Operating Margin (TTM) | 12.8%5Y avg ≈5.6% | ≈5.6% | 1.5% | Top tier | |
| EBITDA Margin | 3.9%5Y avg ≈5.6% | ≈5.6% | 1.9% | Top tier | |
| Pretax Margin (TTM) | 11.2%5Y avg ≈4.6% | ≈4.6% | 3.6% | Top tier | |
| Net Profit Margin (TTM) | -13.7%5Y avg ≈2.9% | ≈2.9% | 2.0% | Below avg | |
| ROA | -5.7%5Y avg ≈3.3% | ≈3.3% | -0.17% | Weak | |
| ROE | -10.4%5Y avg ≈6.7% | ≈6.7% | -3.3% | Weak | |
| ROIC | 0.39%5Y avg ≈9.7% | ≈9.7% | 0.49% | Below avg |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | HLIT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | · | 0.0 | High debt | |
| Current Ratio | 2.55Y avg ≈1.7 | ≈1.7 | 2.5 | In line | |
| Quick Ratio | 1.15Y avg ≈1.0 | ≈1.0 | 1.3 | Below avg | |
| Long-Term Debt / Equity | 0.3 | · | 0.0 | High debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | HLIT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -26.2%5Y avg ≈3.8% | ≈3.8% | · | · | |
| Revenue CAGR 3Y | -16.8%5Y avg ≈-5.7% | ≈-5.7% | · | · | |
| Revenue CAGR 5Y | -0.99% | · | · | · | |
| EPS YoY | -54.2%5Y avg ≈80.7% | ≈80.7% | · | · | |
| Net Income YoY | -53.3%5Y avg ≈85.8% | ≈85.8% | · | · | |
| EPS CAGR 3Y | 40.1% | · | · | · | |
| Net Income CAGR 3Y | 43.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | HLIT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.55Y avg ≈0.8 | ≈0.8 | 0.6 | Weak | |
| Inventory Turnover | 4.15Y avg ≈3.8 | ≈3.8 | 3.2 | Top tier | |
| Receivables Turnover | 3.15Y avg ≈5.0 | ≈5.0 | 5.5 | Weak | |
| Revenue / Employee | ≈$653.1K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
100.9%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $0.21 | $0.17 | 22.2% |
| March 31, 2026 | $0.17 | $0.12 | 44.9% | |
| Dec. 31, 2025 | $0.14 | $0.10 | 39.2% | |
| Sept. 30, 2025 | $0.12 | $0.05 | 159.7% | |
| June 30, 2025 | $0.09 | $0.03 | 230.9% | |
| March 31, 2025 | $0.11 | $0.05 | 108.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $361M | $488M | $388M | $625M | $507M | $379M | $403M | $404M | $358M | $406M | $377M | $434M | |
| Cost of Revenue | $186M | $248M | $210M | $309M | $247M | $184M | $180M | $194M | $188M | $205M | $174M | $221M | |
| Gross Profit | $175M | $240M | $178M | $316M | $260M | $195M | $223M | $209M | $170M | $201M | $203M | $212M | |
| R&D Expense | $76M | $73M | $70M | $120M | $102M | $82M | $85M | $89M | $96M | $98M | $88M | $93M | |
| SG&A Expense | $81M | $79M | $78M | $147M | $138M | $120M | $119M | $119M | $136M | $144M | $121M | $131M | |
| Operating Expenses | $161M | $165M | $148M | $270M | $241M | $207M | $210M | $214M | $241M | $268M | $216M | $234M | |
| Operating Income | $14M | $75M | $30M | $46M | $19M | $-12M | $13M | $-5M | $-71M | $-67M | $-13M | $-22M | |
| Interest Expense | · | · | $3M | $5M | $11M | $12M | $12M | $11M | · | · | · | · | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | $132.0K | |
| Other Non-op | $-1M | $3M | $-157.0K | $4M | $687.0K | $-897.0K | $-2M | $-536.0K | $-2M | $-31.0K | $-282.0K | $-356.0K | |
| Pretax Income | $9M | $72M | $28M | $44M | $9M | $-26M | $-7M | $-17M | $-85M | $-80M | $-16M | $-22M | |
| Income Tax | $8M | $21M | $-60M | $16M | $-4M | $3M | $-672.0K | $4M | $-2M | $-8M | $-407.0K | $24M | |
| Net Income | $-43M | $39M | $84M | $28M | $13M | $-29M | $-6M | $-21M | $-83M | $-72M | $-16M | $-46M | |
| EPS (Basic) | $-0.38 | $0.34 | $0.75 | $0.27 | $0.13 | $-0.30 | $-0.07 | · | · | · | $-0.18 | $-0.50 | |
| EPS (Diluted) | $-0.38 | $0.33 | $0.72 | $0.25 | $0.12 | $-0.30 | $-0.07 | · | · | · | $-0.18 | $-0.50 | |
| Shares (Basic) | 113,660,000 | 115,120,000 | 111,651,000 | 105,080,000 | 101,484,000 | 96,971,000 | 89,575,000 | · | · | · | 87,514,000 | 92,508,000 | |
| Shares (Diluted) | 114,182,000 | 117,482,000 | 117,359,000 | 112,378,000 | 106,171,000 | 96,971,000 | 89,575,000 | · | · | · | 87,514,000 | 92,508,000 | |
| EBITDA | $14M | $63M | $22M | $46M | $19M | $-12M | $13M | $-5M | $-71M | $-67M | $-13M | $-22M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $124M | $101M | $84M | $90M | $133M | $99M | $93M | $66M | $57M | $56M | $126M | $73M | |
| Short-term Investments | · | · | · | $0 | · | · | · | · | · | · | · | · | |
| Receivables | $86M | $144M | $142M | $108M | $89M | $66M | $88M | $82M | $70M | $87M | $70M | $74M | |
| Inventory | $48M | $43M | $84M | $121M | $71M | $35M | $29M | $26M | $26M | $41M | $39M | $33M | |
| Prepaid Expense | $13M | $10M | $21M | $26M | $30M | $38M | $41M | $23M | $19M | $26M | $25M | $18M | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | $0 | $1M | |
| Current Assets | $494M | $565M | $331M | $345M | $323M | $238M | $251M | $197M | $172M | $217M | $286M | $233M | |
| PP&E (Net) | $26M | $25M | $37M | $40M | $43M | $43M | $23M | $22M | $29M | $32M | $27M | $27M | |
| PP&E (Gross) | $135M | $128M | $147M | $151M | $162M | $154M | $136M | $129M | $144M | $156M | $140M | $132M | |
| Accum. Depreciation | $109M | $103M | $110M | $111M | $119M | $111M | $113M | $106M | $115M | $124M | $113M | $105M | |
| Goodwill | $61M | $61M | $61M | $238M | $240M | $244M | $240M | $241M | $243M | $237M | $198M | $198M | |
| Intangibles | · | · | · | · | · | $508.0K | $4M | $13M | $21M | $29M | $4M | $11M | |
| Other Non-current Assets | $20M | $19M | $36M | $50M | $57M | $39M | $41M | $38M | $43M | $39M | $10M | $12M | |
| Total Assets | $718M | $797M | $768M | $710M | $694M | $592M | $587M | $511M | $508M | $554M | $525M | $481M | |
| Accounts Payable | $23M | $28M | $39M | $67M | $64M | $24M | $41M | $34M | $33M | $29M | $19M | $15M | |
| Accrued Liabilities | · | $72M | $61M | $67M | $54M | $50M | $55M | $53M | $49M | $55M | $31M | $35M | |
| Current Liabilities | $198M | $192M | $272M | $322M | $224M | $147M | $192M | $136M | $142M | $145M | $85M | $90M | |
| Capital Leases | $15M | $15M | $19M | $24M | $29M | $26M | $26M | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | $0 | $0 | $3M | |
| Other Non-current Liabilities | $13M | $12M | $29M | $28M | $31M | $20M | $16M | $18M | $23M | $18M | $10M | $11M | |
| Total Liabilities | $335M | $331M | $331M | $386M | $397M | $333M | $332M | $283M | $290M | $283M | $197M | $109M | |
| Long-term Debt | $112M | $114M | $0 | $16M | $18M | $22M | $17M | $20M | $22M | $19M | · | · | |
| Total Debt | $112M | $112M | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $111.0K | $117.0K | $112.0K | $110.0K | $103.0K | $98.0K | $92.0K | $87.0K | $83.0K | $78.0K | $76.0K | $88.0K | |
| Retained Earnings | $-2.08B | $-1.95B | $-1.96B | $-2.05B | $-2.09B | $-2.10B | $-2.07B | $-2.07B | $-2.06B | $-1.98B | $-1.90B | $-1.89B | |
| AOCI | $-7M | $-14M | $-6M | $-10M | $-3M | $6M | $-3M | $-1M | $3M | $-7M | $-4M | $-2M | |
| Stockholders' Equity | $383M | $465M | $437M | $325M | $296M | $258M | $252M | $228M | $230M | $271M | $328M | $372M | |
| Liabilities + Equity | $718M | $797M | $768M | $710M | $694M | $592M | $587M | $511M | $508M | $554M | $525M | $481M | |
| Shares Outstanding | 111,186,000 | 116,735,000 | 112,407,000 | 109,871,000 | 102,959,000 | 98,204,000 | 91,875,000 | 87,057,000 | 82,554,000 | 78,456,000 | 76,015,000 | 87,700,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $32M | $28M | $27M | $25M | $24M | $18M | $12M | $17M | $17M | $13M | $16M | $17M | |
| Amort. of Intangibles | · | · | $0 | $0 | $507.0K | $4M | $8M | $8M | $3M | $10M | $7M | $21M | |
| Restructuring | · | $16M | $809.0K | $3M | · | · | $5M | $4M | $7M | $18M | $1M | $3M | |
| Operating Cash Flow | $108M | $62M | $7M | $5M | $41M | $39M | $31M | $12M | $3M | $438.0K | $6M | $47M | |
| CapEx | $11M | $9M | $8M | $9M | $13M | $32M | $10M | $7M | $11M | $15M | $14M | $10M | |
| Investing Cash Flow | $-11M | $-9M | $-8M | $-1M | $-13M | $-32M | $-10M | $-7M | $-5M | $-70M | $-10M | $28M | |
| Debt Issued | $135M | $115M | $0 | $0 | · | · | · | · | · | · | · | · | |
| Net Debt Issued | $135M | $115M | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $79M | $30M | $0 | $5M | $0 | $0 | · | · | $0 | $0 | $73M | $93M | |
| Net Stock Activity | $-79M | $-30M | $0 | $-5M | · | · | · | · | $0 | $0 | $-73M | $-93M | |
| Dividends Paid | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | · | · | |
| Financing Cash Flow | $-81M | $-33M | $-5M | $-43M | $8M | $-2M | $6M | $3M | $895.0K | $-152.0K | $58M | $-92M | |
| Net Change in Cash | $23M | $18M | $-5M | $-44M | $35M | $6M | $27M | $7M | $1M | $-70M | $53M | $-17M | |
| Taxes Paid | $13M | $27M | $18M | $9M | $3M | $-17.0K | $1M | $2M | $2M | $-54.0K | $952.0K | $2M | |
| Free Cash Flow | $97M | $53M | $-1M | $-4M | $28M | $7M | $21M | $5M | $-8M | $-15M | $-8M | $37M | |
| Levered FCF | · | · | $-13M | $-7M | $12M | $-6M | · | · | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.5% | 53.9% | 51.4% | 50.5% | 51.2% | 51.5% | 55.4% | 51.8% | 47.4% | 49.5% | 53.8% | 49.0% | |
| Operating Margin | 3.9% | 9.3% | 3.6% | 7.3% | 3.7% | -3.3% | 3.2% | -1.2% | -19.8% | -16.5% | -3.4% | -5.0% | |
| Net Margin | -12.0% | 5.8% | 13.8% | 4.5% | 2.6% | -7.7% | -1.5% | -5.2% | -23.2% | -17.8% | -4.2% | -10.7% | |
| Pretax Margin | 2.5% | 8.5% | 3.1% | 7.1% | 1.8% | -6.9% | -1.6% | -4.2% | -23.6% | -19.8% | -4.3% | -5.0% | |
| EBITDA Margin | 3.9% | 9.3% | 3.6% | 7.3% | 3.7% | -3.3% | 3.2% | -1.2% | -19.8% | -16.5% | -3.4% | -5.0% | |
| ROA | -5.7% | 5.0% | 11.4% | 4.0% | 2.1% | -5.0% | -1.1% | -4.1% | -15.6% | -13.4% | -3.1% | -8.5% | |
| ROE | -10.4% | 8.8% | 21.6% | 9.0% | 4.7% | -11.9% | -2.4% | -9.3% | -33.8% | -24.1% | -4.5% | -10.7% | |
| ROIC | 0.39% | 7.4% | 22.3% | 8.9% | 9.5% | -5.4% | 4.7% | -2.7% | -31.8% | -22.3% | -3.9% | -12.3% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 2.2 | 1.2 | 1.1 | 1.4 | 1.6 | 1.3 | 1.4 | 1.2 | 1.5 | 3.4 | 2.6 | |
| Quick Ratio | 1.1 | 1.7 | 0.8 | 0.6 | 1.0 | 1.1 | 0.9 | 1.1 | 0.9 | 1.0 | 2.3 | 1.6 | |
| Debt / Equity | 0.3 | 0.2 | · | · | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | 0.3 | 0.2 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | 8.2 | 9.0 | 1.8 | -1.1 | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.9 | 0.8 | 0.9 | 0.8 | 0.6 | 0.7 | 0.8 | 0.7 | 0.8 | 0.7 | 0.8 | |
| Inventory Turnover | 4.1 | 4.2 | 2.9 | 3.2 | 4.7 | 5.7 | 6.6 | 7.5 | 5.6 | 5.1 | 4.9 | 6.3 | |
| Receivables Turnover | 3.1 | 4.2 | 4.9 | 6.3 | 6.6 | 4.9 | 4.7 | 5.3 | 4.6 | 5.2 | 5.2 | 5.8 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $3.45 | $3.99 | $3.89 | $2.95 | $2.87 | $2.63 | $2.75 | $2.62 | $2.64 | $3.45 | $4.32 | $4.24 | |
| Revenue / Share | $3.16 | $5.78 | $5.18 | $5.56 | $4.78 | · | · | · | · | · | $4.31 | $4.69 | |
| Cash Flow / Share | $0.95 | $0.53 | $0.06 | $0.05 | $0.39 | · | · | · | · | · | $0.07 | $0.51 | |
| Cash / Share | $1.12 | $0.87 | $0.75 | $0.82 | $1.30 | $1.00 | $1.01 | $0.76 | $0.69 | $0.71 | $1.66 | $0.83 | |
| EPS (TTM) | $-0.38 | $0.33 | $0.72 | $0.25 | $0.12 | $-0.30 | $-0.07 | · | $-0.94 | $-0.94 | $-0.18 | $-0.50 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -26.2% | 25.7% | -37.8% | 23.2% | 33.9% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -16.8% | -1.3% | 0.84% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -0.99% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | -54.2% | 188.0% | 108.3% | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | 40.1% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | -53.3% | 198.0% | 112.6% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | 43.6% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $361M | $488M | $388M | $625M | $507M | $379M | $403M | $404M | $358M | $406M | $377M | $434M | |
| Net Income TTM | $-43M | $39M | $84M | $28M | $13M | $-29M | $-6M | $-21M | $-83M | $-72M | $-16M | $-46M | |
| Market Cap | $1.10B | $1.54B | $1.47B | $1.44B | $1.21B | $726M | $717M | $411M | $347M | $392M | $309M | $615M | |
| Enterprise Value | $1.09B | $1.56B | · | · | · | · | · | · | · | · | · | · | |
| P/E | -26.0 | 40.1 | 18.1 | 52.4 | 98.0 | -24.6 | -111.4 | · | -4.5 | -5.3 | -22.6 | -14.0 | |
| P/S | 3.1 | 3.2 | 3.8 | 2.3 | 2.4 | 1.9 | 1.8 | 1.0 | 1.0 | 1.0 | 0.8 | 1.4 | |
| P/B | 2.9 | 3.3 | 3.4 | 4.4 | 4.1 | 2.8 | 2.8 | 1.8 | 1.6 | 1.4 | 0.9 | 1.7 | |
| P / Tangible Book | 3.4 | 3.8 | 3.9 | 16.6 | 21.7 | 51.4 | · | · | · | · | · | · | |
| P / Cash Flow | 10.2 | 24.9 | 207.6 | 262.8 | 29.5 | 18.5 | 22.9 | 33.5 | 113.2 | 895.6 | 48.7 | 13.0 | |
| P / FCF | 11.3 | 29.3 | -1035.2 | -381.4 | 43.2 | 104.3 | 34.2 | 78.4 | -41.6 | -26.7 | -38.6 | 16.5 | |
| EV / EBITDA | 77.2 | 24.6 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | 11.2 | 29.5 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 3.0 | 3.2 | · | · | · | · | · | · | · | · | · | · | |
| Dividend Yield | · | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | · | · | · | · | |
| Earnings Yield | -3.8% | 2.5% | 5.5% | 1.9% | 1.0% | -4.1% | -0.90% | · | -22.4% | -18.8% | -4.4% | -7.1% | |
| Payout Ratio | · | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | · | · | · | · | · | |
| Annual Payout | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | · | · |
Income Statement
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $133M | $122M | $-53M | $142M | $87M | $85M | $32M | $196M | $139M | $122M | $-52M | $127M | $156M | $158M | $164M | $156M | |
| Cost of Revenue | $64M | $58M | $2M | $65M | $47M | $38M | $33M | $91M | $65M | $59M | $224.0K | $66M | $71M | $74M | $79M | $77M | |
| Gross Profit | $70M | $64M | $-55M | $77M | $40M | $46M | $-1M | $105M | $73M | $63M | $-53M | $62M | $85M | $84M | $86M | $79M | |
| R&D Expense | $21M | $21M | $-14M | $30M | $18M | $20M | $-17M | $30M | $29M | $31M | $-26M | $30M | $32M | $34M | $31M | $30M | |
| SG&A Expense | $25M | $22M | $-30M | $37M | $20M | $20M | $-35M | $36M | $40M | $39M | $-43M | $39M | $43M | $39M | $37M | $36M | |
| Operating Expenses | $46M | $43M | $-45M | $67M | $41M | $39M | $-66M | $69M | $89M | $73M | $-70M | $70M | $75M | $73M | $69M | $67M | |
| Operating Income | $24M | $20M | $-10M | $10M | $-754.0K | $7M | $64M | $35M | $-16M | $-10M | $17M | $-9M | $10M | $11M | $16M | $11M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $723.0K | · | $619.0K | $800.0K | $706.0K | · | $1M | |
| Other Non-op | $-579.0K | $-42.0K | $-2M | $113.0K | $-1M | $-621.0K | $7M | $-4M | $619.0K | $-289.0K | $-71.0K | $343.0K | $-136.0K | $-293.0K | $-212.0K | $-118.0K | |
| Pretax Income | $22M | $19M | $-11M | $9M | $-3M | $5M | $70M | $29M | $-16M | $-11M | $18M | $-9M | $9M | $10M | $15M | $10M | |
| Income Tax | $5M | $10M | $-1M | $6M | $-2M | $3M | $20M | $7M | $-4M | $-2M | $-71M | $-2M | $7M | $5M | $9M | $1M | |
| Net Income | $-2M | $7M | $-55M | $3M | $3M | $6M | $38M | $22M | $-13M | $-8M | $84M | $-6M | $2M | $5M | $6M | $9M | |
| EPS (Basic) | $-0.02 | $0.07 | $-0.48 | $0.02 | $0.03 | $0.05 | $0.33 | $0.19 | $-0.11 | $-0.07 | $0.75 | $-0.06 | $0.01 | $0.05 | $0.06 | $0.08 | |
| EPS (Diluted) | $-0.02 | $0.07 | $-0.48 | $0.02 | $0.03 | $0.05 | $0.32 | $0.19 | $-0.11 | $-0.07 | $0.73 | $-0.06 | $0.01 | $0.04 | $0.05 | $0.08 | |
| Shares (Basic) | 108,654,000 | 109,708,000 | · | 112,982,000 | 113,392,000 | 116,319,000 | · | 116,403,000 | 115,030,000 | 112,350,000 | · | 112,031,000 | 111,462,000 | 110,794,000 | · | 105,228,000 | |
| Shares (Diluted) | 109,682,000 | 110,617,000 | · | 113,323,000 | 113,392,000 | 117,021,000 | · | 117,358,000 | 115,030,000 | 112,350,000 | · | 112,031,000 | 119,255,000 | 117,758,000 | · | 113,185,000 | |
| EBITDA | $24M | $20M | · | $10M | $4M | $10M | · | $35M | $-16M | $-10M | · | $-9M | $10M | $11M | · | $11M |
Balance Sheet
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $232M | $109M | $124M | $127M | $124M | $149M | $101M | $58M | $46M | $84M | $84M | $76M | $71M | $91M | $90M | $105M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | $6M | · | · | · | · | |
| Receivables | $90M | $83M | $86M | $105M | $121M | $99M | $144M | $174M | $120M | $106M | · | $110M | $119M | $88M | · | $106M | |
| Inventory | $66M | $51M | $48M | $69M | $71M | $62M | $43M | $74M | $84M | $87M | · | $104M | $114M | $132M | · | $99M | |
| Prepaid Expense | $29M | $17M | $13M | $27M | $27M | $31M | $10M | $30M | $32M | $24M | · | $33M | $28M | $27M | · | $27M | |
| Current Assets | $417M | $485M | $494M | $327M | $343M | $341M | $565M | $336M | $285M | $301M | · | $329M | $332M | $338M | · | $337M | |
| PP&E (Net) | $23M | $25M | $26M | $28M | $28M | $27M | $25M | $28M | $30M | $35M | · | $37M | $38M | $39M | · | $40M | |
| PP&E (Gross) | $121M | $122M | $135M | $140M | $139M | $135M | $128M | $134M | $144M | $148M | · | $144M | $144M | $150M | · | $165M | |
| Accum. Depreciation | $98M | $97M | $109M | $112M | $111M | $108M | $103M | $106M | $114M | $112M | · | $107M | $107M | $111M | · | $125M | |
| Goodwill | $61M | $61M | $61M | $242M | $242M | $238M | $61M | $240M | $238M | $238M | $61M | $237M | $239M | $238M | $238M | $234M | |
| Other Non-current Assets | $18M | $20M | $20M | $34M | $38M | $35M | $19M | $35M | $34M | $38M | · | $49M | $59M | $64M | · | $62M | |
| Total Assets | $633M | $705M | $718M | $759M | $783M | $774M | $797M | $760M | $714M | $741M | · | $674M | $690M | $704M | · | $698M | |
| Accounts Payable | $39M | $35M | $23M | $23M | $41M | $27M | $28M | $42M | $30M | $44M | · | $47M | $37M | $55M | · | $61M | |
| Current Liabilities | $137M | $214M | $198M | $157M | $172M | $165M | $192M | $162M | $152M | $275M | · | $275M | $288M | $306M | · | $222M | |
| Capital Leases | $14M | $13M | $15M | $14M | $14M | $15M | $15M | $16M | $17M | $18M | · | $20M | $22M | $23M | · | $24M | |
| Other Non-current Liabilities | $14M | $14M | $13M | $27M | $28M | $27M | $12M | $31M | $33M | $29M | · | $28M | $28M | $28M | · | $27M | |
| Total Liabilities | $272M | $350M | $335M | $316M | $337M | $328M | $331M | $331M | $321M | $332M | · | $333M | $348M | $368M | · | $397M | |
| Long-term Debt | $111M | $111M | $112M | $113M | $113M | $114M | $114M | $115M | · | · | · | · | · | · | · | · | |
| Total Debt | · | · | · | $113M | $113M | $111M | · | $113M | $114M | · | · | · | · | · | · | · | |
| Common Stock | $109.0K | $108.0K | $111.0K | $112.0K | $113.0K | $115.0K | $117.0K | $117.0K | $116.0K | $112.0K | · | $112.0K | $112.0K | $111.0K | · | $105.0K | |
| Retained Earnings | $-2.11B | $-2.11B | $-2.08B | $-2.01B | $-2.00B | $-1.98B | $-1.95B | $-1.99B | $-2.01B | $-1.99B | · | $-2.05B | $-2.04B | $-2.04B | · | $-2.05B | |
| AOCI | $-8M | $-8M | $-7M | $-7M | $-7M | $-12M | $-14M | $-4M | $-10M | $-9M | · | $-12M | $-7M | $-8M | · | $-22M | |
| Stockholders' Equity | $360M | $355M | $383M | $443M | $446M | $446M | $465M | $429M | $393M | $409M | $437M | $341M | $343M | $336M | $325M | $301M | |
| Liabilities + Equity | $633M | $705M | $718M | $759M | $783M | $774M | $797M | $760M | $714M | $741M | · | $674M | $690M | $704M | · | $698M | |
| Shares Outstanding | 109,024,000 | 108,478,000 | 111,186,000 | 112,215,000 | 113,389,000 | 114,679,000 | 116,735,000 | 116,511,000 | 115,998,000 | 111,946,000 | · | 112,171,000 | 111,584,000 | 111,332,000 | · | 105,421,000 |
Cash Flow
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | · | $10M | $8M | $7M | $8M | $8M | $8M | $6M | $7M | $7M | $7M | $7M | $6M | $7M | $6M | $6M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Restructuring | · | · | · | $1M | · | · | · | $281.0K | $11M | · | · | $1M | $0 | · | · | · | |
| Operating Cash Flow | · | $32M | $12M | $24M | $-12M | $84M | $49M | $9M | $-22M | $27M | $6M | $11M | $-17M | $6M | $19M | $-8M | |
| CapEx | · | $1M | $3M | $3M | $4M | $2M | $2M | $3M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | $2M | |
| Investing Cash Flow | · | $-1M | $-3M | $-3M | $-4M | $-2M | $-2M | $-3M | $-2M | $-2M | $4M | $-8M | $-2M | $-2M | $-2M | $-2M | |
| Debt Issued | · | $55M | $40M | $55M | $40M | $0 | $0 | $0 | · | · | $0 | $0 | · | · | · | · | |
| Net Debt Issued | · | $55M | · | · | · | $-500.0K | · | · | · | · | · | · | · | · | · | · | |
| Stock Repurchased | · | $43M | $13M | $16M | $14M | $36M | $0 | $0 | $8M | $22M | $0 | $0 | $0 | $0 | $0 | $120.0K | |
| Net Stock Activity | · | $-43M | · | · | · | $-36M | · | · | · | $-22M | · | · | · | $0 | · | · | |
| Financing Cash Flow | · | $-45M | $-15M | $-18M | $-13M | $-36M | $-1M | $3M | $-11M | $-24M | $-2M | $2M | $-2M | $-3M | $-38M | $-2M | |
| Net Change in Cash | · | $-15M | $-3M | $3M | $-25M | $47M | $43M | $10M | $-36M | $36.0K | $9M | $5M | $-20M | $1M | $-16M | $-17M | |
| Taxes Paid | · | $24.0K | $-2M | $732.0K | $13M | $1M | $14M | $1M | $10M | $1M | $12M | $1M | · | · | · | · | |
| Free Cash Flow | · | $30M | · | · | · | $82M | · | · | · | $25M | · | · | · | $4M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $24M | · | · | · | $4M | · | · |
Profitability
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.4% | 52.3% | · | 54.2% | 53.5% | 59.0% | · | 53.5% | 52.9% | 51.7% | · | 48.5% | 54.5% | 53.3% | · | 50.5% | |
| Operating Margin | 17.7% | 16.8% | · | 6.9% | 2.8% | 7.6% | · | 18.1% | -11.3% | -7.8% | · | -6.8% | 6.4% | 7.1% | · | 7.3% | |
| Net Margin | -1.7% | 6.0% | · | 1.9% | 2.1% | 4.5% | · | 11.1% | -9.0% | -6.6% | · | -5.1% | 1.0% | 3.2% | · | 5.6% | |
| Pretax Margin | 16.5% | 15.9% | · | 6.1% | 2.2% | 6.4% | · | 14.7% | -11.8% | -8.6% | · | -7.0% | 5.8% | 6.5% | · | 6.4% | |
| EBITDA Margin | 17.7% | 16.8% | · | 6.9% | 2.8% | 7.6% | · | 18.1% | -11.3% | -7.8% | · | -6.8% | 6.4% | 7.1% | · | 7.3% | |
| ROA | · | · | · | 0.35% | 0.38% | 0.78% | · | 3.0% | -1.8% | -1.1% | · | -0.95% | 0.22% | 0.73% | · | 1.3% | |
| ROE | · | · | · | 0.62% | 0.68% | 1.4% | · | 5.6% | -3.4% | -2.2% | · | -2.0% | 0.49% | 1.6% | · | 3.0% | |
| ROIC | · | · | · | 0.54% | 0.67% | 1.3% | · | 4.9% | -2.4% | -1.8% | · | -1.8% | 0.50% | 1.7% | · | 3.3% |
Liquidity & Solvency
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | · | · | 2.1 | 2.0 | 2.1 | · | 2.1 | 1.9 | 1.1 | · | 1.2 | 1.2 | 1.1 | · | 1.5 | |
| Quick Ratio | · | · | · | 1.5 | 1.4 | 1.5 | · | 1.4 | 1.1 | 0.7 | · | 0.7 | 0.7 | 0.6 | · | 1.0 | |
| Debt / Equity | · | · | · | 0.3 | 0.3 | 0.2 | · | 0.3 | 0.3 | · | · | · | · | · | · | · | |
| LT Debt / Equity | · | · | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.3 | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -13.2 | · | -13.9 | 12.5 | 15.8 | · | 8.9 |
Efficiency
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | · | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Inventory Turnover | · | · | · | 0.9 | 0.8 | 0.7 | · | 1.0 | 0.7 | 0.5 | · | 0.6 | 0.7 | 0.7 | · | 1.0 | |
| Receivables Turnover | · | · | · | 1.0 | 1.1 | 1.3 | · | 1.4 | 1.2 | 1.3 | · | 1.2 | 1.4 | 1.5 | · | 1.7 |
Per Share
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | · | · | $3.95 | $3.94 | $3.89 | · | $3.68 | $3.39 | $3.65 | · | $3.04 | $3.07 | $3.02 | · | $2.85 | |
| Revenue / Share | $1.22 | $1.10 | · | $1.26 | $1.22 | $1.14 | · | $1.67 | $1.21 | $1.09 | · | $1.14 | $1.31 | $1.34 | · | $1.38 | |
| Cash Flow / Share | · | $0.29 | · | · | · | $0.71 | · | · | · | $0.24 | · | · | · | $0.05 | · | · | |
| Cash / Share | · | · | · | $1.14 | $1.09 | $1.30 | · | $0.50 | $0.40 | $0.75 | · | $0.67 | $0.64 | $0.82 | · | $1.00 | |
| EPS (TTM) | $-0.41 | $-0.36 | · | $0.42 | $0.59 | $0.45 | · | $0.74 | $0.49 | $0.61 | · | $0.04 | $0.18 | $0.31 | · | $0.40 |
Valuation (TTM)
| Metric | Trend | Q3 2026 | Q2 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $345M | $298M | · | $346M | $399M | $451M | · | $404M | $336M | $353M | · | $605M | $634M | $635M | · | $616M | |
| Net Income TTM | $-47M | $-42M | · | $50M | $69M | $53M | · | $85M | $57M | $71M | · | $6M | $22M | $35M | · | $42M | |
| Market Cap | · | · | · | $1.13B | $1.08B | $1.11B | · | $1.69B | $1.37B | $1.50B | · | $1.08B | $1.80B | $1.62B | · | $1.38B | |
| Enterprise Value | · | · | · | $1.12B | $1.07B | $1.08B | · | $1.74B | $1.43B | · | · | · | · | · | · | · | |
| P/E | -34.3 | -25.6 | · | 24.0 | 16.1 | 21.6 | · | 19.6 | 24.0 | 22.0 | · | 240.8 | 89.8 | 47.1 | · | 32.7 | |
| P/S | · | · | · | 3.3 | 2.7 | 2.5 | · | 4.2 | 4.1 | 4.3 | · | 1.8 | 2.8 | 2.6 | · | 2.2 | |
| P/B | · | · | · | 2.6 | 2.4 | 2.5 | · | 3.9 | 3.5 | 3.7 | · | 3.2 | 5.3 | 4.8 | · | 4.6 | |
| P / Tangible Book | · | · | · | 5.6 | 5.3 | 5.4 | · | 8.9 | 8.8 | 8.8 | · | 10.4 | 17.3 | 16.7 | · | 20.6 | |
| P / Cash Flow | · | · | · | · | · | 13.3 | · | · | · | 56.1 | · | · | · | 259.1 | · | · | |
| EV / Revenue | · | · | · | 3.2 | 2.7 | 2.4 | · | 4.3 | 4.3 | · | · | · | · | · | · | · | |
| Earnings Yield | -2.9% | -3.9% | · | 4.2% | 6.2% | 4.6% | · | 5.1% | 4.2% | 4.5% | · | 0.42% | 1.1% | 2.1% | · | 3.1% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $361M | $488M | $388M | $625M | $507M |
| Gross Margin % | 48.5% | 53.9% | 51.4% | 50.5% | 51.2% |
| Operating Margin % | 3.9% | 9.3% | 3.6% | 7.3% | 3.7% |
| Net Income | $-43M | $39M | $84M | $28M | $13M |
| Diluted EPS | $-0.38 | $0.33 | $0.72 | $0.25 | $0.12 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | 0.2 | · | · | · |
| Current Ratio | 2.5 | 2.2 | 1.2 | 1.1 | 1.4 |
| Quick Ratio | 1.1 | 1.7 | 0.8 | 0.6 | 1.0 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $97M | $53M | $-1M | $-4M | $28M |
Institutional owners (13F) 282 filers · $1.6B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
282
Value held
$1.6B
New positions
56
Exited positions
40
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 56 (+9 vs prior Q) | 40 (-9 vs prior Q) | 77 (+4 vs prior Q) | 99 (+2 vs prior Q) | +1.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $294,012,045 | 18,004,412 | 18.90% | Shares |
| VANGUARD GROUP INC | $118,907,103 | 12,022,963 | 7.64% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $88,009,327 | 5,389,426 | 5.66% | Shares |
| STATE STREET CORP | $84,062,578 | 5,147,739 | 5.40% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $77,904,731 | 4,770,651 | 5.01% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $53,755,862 | 3,291,847 | 3.46% | Shares |
| AMERICAN CENTURY COMPANIES INC | $52,508,298 | 3,215,450 | 3.38% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $47,661,184 | 2,918,817 | 3.06% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $46,602,773 | 2,853,280 | 3.00% | Shares |
| MORGAN STANLEY | $34,941,602 | 2,139,718 | 2.25% | Shares |
| Trigran Investments, Inc. | $30,991,695 | 1,897,838 | 1.99% | Shares |
| D. E. Shaw & Co., Inc. | $30,723,262 | 1,881,400 | 1.97% | Shares |
| TWO SIGMA INVESTMENTS, LP | $28,307,190 | 1,733,447 | 1.82% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $28,159,893 | 1,724,427 | 1.81% | Shares |
| Leeward Investments, LLC - MA | $27,190,544 | 1,665,067 | 1.75% | Shares |
| First Eagle Investment Management, LLC | $23,615,352 | 1,446,133 | 1.52% | Shares |
| Silverberg Bernstein Capital Management LLC | $21,380,167 | 1,309,257 | 1.37% | Shares |
| NORTHERN TRUST CORP | $19,375,905 | 1,186,522 | 1.25% | Shares |
| Nuveen, LLC | $18,679,822 | 1,143,896 | 1.20% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $17,967,354 | 1,100,266 | 1.15% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $17,169,052 | 1,051,381 | 1.10% | Shares |
| MILLENNIUM MANAGEMENT LLC | $13,774,012 | 843,479 | 0.89% | Shares |
| JPMORGAN CHASE & CO | $12,987,816 | 819,321 | 0.83% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $12,679,820 | 776,474 | 0.82% | Shares |
| MARSHALL WACE, LLP | $12,313,016 | 754,012 | 0.79% | Shares |
| Hillsdale Investment Management Inc. | $12,017,247 | 735,900 | 0.77% | Shares |
| GOLDMAN SACHS GROUP INC | $11,600,636 | 710,388 | 0.75% | Shares |
| NEEDHAM INVESTMENT MANAGEMENT LLC | $11,431,000 | 700,000 | 0.73% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $11,407,175 | 698,541 | 0.73% | Shares |
| Bank of New York Mellon Corp | $10,509,220 | 643,553 | 0.68% | Shares |
| Invesco Ltd. | $10,490,294 | 642,394 | 0.67% | Shares |
| NORGES BANK | $10,168,070 | 622,662 | 0.65% | Shares |
| Point72 Asset Management, L.P. | $9,359,229 | 573,131 | 0.60% | Shares |
| SILVERBACK ASSET MANAGEMENT LLC | $8,573,250 | 525,000 | 0.55% | Shares |
| Public Sector Pension Investment Board | $8,456,066 | 517,824 | 0.54% | Shares |
| AMERIPRISE FINANCIAL INC | $8,448,605 | 517,367 | 0.54% | Shares |
| JANE STREET GROUP, LLC | $8,196,305 | 501,917 | 0.53% | Shares |
| SCOPIA CAPITAL MANAGEMENT LP | $7,998,532 | 489,806 | 0.51% | Shares |
| FMR LLC | $7,835,966 | 479,851 | 0.50% | Shares |
| Impax Asset Management Group plc | $7,756,750 | 475,000 | 0.50% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,404,839 | 453,450 | 0.48% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $5,875,191 | 359,779 | 0.38% | Shares |
| Squarepoint Ops LLC | $5,630,290 | 344,782 | 0.36% | Shares |
| CITADEL ADVISORS LLC | $5,324,103 | 326,032 | 0.34% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $5,227,625 | 320,124 | 0.34% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $4,525,451 | 277,125 | 0.29% | Shares |
| HERALD INVESTMENT MANAGEMENT Ltd | $4,357,440 | 267,000 | 0.28% | Shares |
| ROYCE & ASSOCIATES LP | $4,346,915 | 266,192 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $4,336,135 | 265,533 | 0.28% | Shares |
| Allianz Asset Management GmbH | $4,090,110 | 250,466 | 0.26% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| SCOPIA CAPITAL MANAGEMENT LP, SCOPIA MANAGEMENT, INC., MATTHEW SIROVICH, JEREMY MINDICH ×8 filings | July 12, 2024 | · | Initial filing | · | SEC |
| Scopia Capital Management LP (2), Scopia Management, Inc. (2), Matthew Sirovich (2), Jeremy Mindich (2) ×4 filings | March 29, 2022 | · | Initial filing | · | SEC |
| Harmonic Inc. | Jan. 2, 2009 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 40 insiders · 22 officers · 20 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Nimrod Ben-Natan | President and CEO | Sept. 11, 2026 M | 747,981 | 0 | 0 | $0 |
| Patrick Harshman | President and CEO | May 15, 2024 M | 792,598 | 0 | 0 | $0 |
| Walter Jankovic | Chief Financial Officer | Sept. 11, 2026 M | 166,839 | 0 | 0 | $0 |
| Jeremy Rosenberg | Interim CFO & SVP Bus Dev | May 15, 2023 M | 153,229 | 0 | 0 | $0 |
| Sanjay Kalra | SVP and CFO | March 1, 2023 M | 177,032 | 0 | 0 | $0 |
| Harold L Covert | Chief Financial Officer | May 17, 2017 M | 0 | 0 | 0 | $0 |
| Carolyn V Aver | Chief Financial Officer | Aug. 19, 2015 A | 21,758 | 0 | 0 | $0 |
| Robin N Dickson | Chief Financial Officer | Aug. 15, 2010 F | 144,398 | 0 | 0 | $0 |
| Suresh Vasudevan | President of Omneon | Jan. 26, 2011 D | 83,784 | 0 | 0 | $0 |
| Yaron Simler | President, CSD | July 28, 2005 M | 15,135 | 0 | 0 | $0 |
| Ronald J Glahn | SVP, Global Sales, Broadband | Aug. 15, 2026 M | 44,463 | 0 | 0 | $0 |
| Timothy C Chu | General Counsel & SVP, HR | Aug. 15, 2026 M | 148,902 | 0 | 0 | $0 |
| Neven Haltmayer | SVP & GM, Video Business | June 16, 2026 M | 161,362 | 0 | 4 | $-734,210 |
| Ian Graham | SVP, Global Sales & Video Svcs | May 15, 2024 M | 67,690 | 0 | 0 | $0 |
| Eric Louvet | SVP, Global Sales & Video Svcs | Aug. 15, 2020 M | 128,529 | 0 | 0 | $0 |
| Timothy Warren | SVP and CTO, Video Products | Nov. 15, 2018 M | 332,521 | 0 | 0 | $0 |
| Bart Spriester | SVP, Video Products | Nov. 15, 2017 M | 63,151 | 0 | 0 | $0 |
| George Stromeyer | SVP of Worldwide Sales | Aug. 19, 2015 A | 60,415 | 0 | 0 | $0 |
| Charles Bonasera | SVP, Operations and Quality | Feb. 4, 2015 M | 8,583 | 0 | 0 | $0 |
| Mark Carrington | Sr. VP of Worldwide Sales | Nov. 15, 2012 M | 30,169 | 0 | 0 | $0 |
| Matthew J Aden | VP, Worldwide Sales | Aug. 15, 2010 F | 44,388 | 0 | 0 | $0 |
| Israel Levi | Sr VP, Operations & Quality | Feb. 27, 2006 A | 54 | 0 | 0 | $0 |
| Stephanie Copeland | Director | May 14, 2026 S | 20,752 | 0 | 1 | $-57,190 |
| Deborah Clifford | Director | March 16, 2026 A | 51,033 | 0 | 0 | $0 |
| Indraneel Dev | Director | March 16, 2026 A | · | 0 | 0 | $0 |
| Daniel T Whalen | Director | March 16, 2026 A | 29,983 | 0 | 0 | $0 |
| Dana L Crandall | Director | March 16, 2026 A | 25,052 | 0 | 0 | $0 |
| Patrick Gallagher | Director | March 16, 2026 A | 220,561 | 0 | 0 | $0 |
| David Krall | Director | March 16, 2026 A | 239,268 | 1 | 0 | $499,044 |
| Mitzi Reaugh | Director | Dec. 31, 2024 M | 292,273 | 0 | 0 | $0 |
| Sophia Kim | Director | Feb. 16, 2024 A | 21,572 | 0 | 0 | $0 |
| Susan Swenson | Director | Feb. 16, 2024 A | 244,666 | 0 | 0 | $0 |
| Nikos Theodosopoulos | Director | Aug. 12, 2022 M | 189,956 | 0 | 0 | $0 |
| KVAMME FLOYD E | Director | June 5, 2019 M | 799,125 | 0 | 0 | $0 |
| William F Reddersen | Director | June 8, 2018 M | 208,614 | 0 | 0 | $0 |
| Tom Lookabaugh | Director | Jan. 11, 2017 A | · | 0 | 0 | $0 |
| Lewis Solomon | Director | Aug. 14, 2013 M | 102,387 | 0 | 0 | $0 |
| David R Van Valkenburg | Director | Feb. 15, 2012 M | 77,794 | 0 | 0 | $0 |
| Anthony J Ley | Director | Feb. 15, 2012 M | 388,838 | 0 | 0 | $0 |
| Michel L Vaillaud | Director | Feb. 8, 2007 M | 24,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 45 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PSCT · Invesco Exchange-Traded Fund Trust … | 0.48% | 241,082 SH | Oct. 1, 2026 | Daily |
| XSHQ · Invesco Exchange-Traded Fund Trust … | 0.34% | 91,377 SH | Oct. 1, 2026 | Daily |
| SMDX · Tidal Trust III | 0.25% | 28,559 NS | July 31, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.24% | 120,589 NS | July 31, 2026 | N-PORT |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.19% | 230,221 SH | Aug. 19, 2026 | Daily |
| ESSC · Strategy Shares | 0.17% | 5,355 NS | July 31, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.11% | 31,991 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.11% | 119,032 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.10% | 379,559 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.08% | 1,037,646 SH | Sept. 11, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.08% | 16,653 SH | Oct. 1, 2026 | Daily |
| ESML · iShares Trust | 0.06% | 140,902 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 141,996 SH | Oct. 1, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 639,376 SH | Aug. 19, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.05% | 27,942 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.04% | 2,845,090 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 53,059 NS | July 31, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.03% | 54,722 SH | Oct. 1, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.03% | 2,727,301 SH | Aug. 19, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.03% | 53,204 SH | Oct. 1, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 366,112 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.03% | 29,482 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.02% | 18,618 SH | Sept. 9, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.02% | 351,269 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 1,243,337 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 7,114 SH | Sept. 11, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.01% | 98,062 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 238,782 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.01% | 11,366 NS | July 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.01% | 50,993 SH | Sept. 11, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 10,450 NS | July 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 30,943 NS | July 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 28,919 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 33,003 SH | Sept. 3, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 145,797 SH | Sept. 11, 2026 | Daily |
| DFUS · Dimensional ETF Trust | 0.00% | 32,947 NS | July 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 873 NS | July 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 2,080 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,419,922 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 8,881 SH | Aug. 19, 2026 | Daily |
| IJR · iShares Trust | · | 6,615,497 SH | Sept. 10, 2026 | Daily |
| IJS · iShares Trust | · | 972,641 SH | Sept. 8, 2026 | Daily |
| XJR · iShares Trust | · | 15,055 SH | Aug. 31, 2026 | Daily |
| ISCB · iShares Trust | · | 4,762 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 10,255 SH | Sept. 11, 2026 | Daily |
HLIT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 13 analysts
BUY
Median target
$17.00
+52.2%
2 15.4%
Strong Buy
7 53.8%
Buy
3 23.1%
Hold
0 0.0%
Sell
1 7.7%
Strong Sell
12-Month Price Target
7 analysts · 2026-09-28Mean target $16.14 +44.5%
Now
Current price $11.17
Low$8.00
Mean$16.14
High$20.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HLIT | $1.10B | -26.0 | -26.2% | -12.0% | -10.4% | 48.5% |
| DGII | · | 33.8 | 1.5% | 9.5% | 6.6% | 62.9% |
| CALX | $3.55B | 203.6 | 20.3% | 1.8% | 2.2% | 56.8% |
| ADTN | $695M | -16.7 | 17.5% | -4.2% | -28.9% | 38.3% |
| VISN | $3.91B | 1.9 | 39.7% | 118.2% | -102.4% | 49.5% |
| NTGR | $685M | -38.9 | 3.8% | -2.6% | -3.5% | 38.0% |
| ADTN | $695M | -16.7 | 17.5% | -4.2% | -28.9% | 38.3% |
| CLFD | $476M | -59.3 | 19.6% | -5.4% | -3.1% | 33.7% |
| LTRX | $274M | -58.8 | -1.7% | -3.5% | -4.3% | 43.8% |
| RBBN | · | -4.4 | 1.3% | · | · | · |
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Source: SEC 10-Q filed Aug 17, 2026