Key Highlights

  • Shares rose 16.39% to USD 11.86 in pre-market trading on November 3, 2026.
  • Third quarter 2026 Revenue from continuing operations reached USD 148.8 million, up 64% from USD 90.5 million a year earlier.
  • Non-GAAP Diluted Earnings per Share were USD 0.23, against USD 0.07 in the third quarter of 2025.
  • Backlog and deferred revenue stood at USD 534.0 million, up 58% year over year.
  • The company raised its 2026 revenue outlook to a range of USD 545 million to USD 555 million.

What Moved the Shares Before the Opening Bell (up USD 1.67, 16.39%)

Harmonic (NASDAQ:HLIT) was up 16.39% to USD 11.86 in pre-market trading on November 3, 2026, measured against the November 2, 2026 close. The move follows the company's third quarter 2026 results, which were released after the close on November 2, 2026, with a conference call at 5:00 p.m. Eastern time that evening.

The Quarter in Detail

According to a company press release dated November 2, 2026, revenue from continuing operations was USD 148.8 million for the quarter ended October 2, 2026, compared with USD 133.5 million in the second quarter. Appliance and integration revenue was USD 137.2 million, and SaaS and service revenue was USD 11.7 million.

GAAP operating profit was USD 26.2 million and non-GAAP operating profit was USD 33.0 million. GAAP diluted earnings per share from continuing operations were USD 0.16.

Business Background and Recent Updates

Harmonic describes itself as a provider of virtualized broadband solutions, including its cOS platform, fiber and DOCSIS products, and network intelligence tools. The company said cOS is deployed with 167 customers and supports 52.6 million customer premises devices.

The company completed the sale of its video Business to MediaKind on June 16, 2026, leaving Broadband as its single reportable segment.

Balance Sheet and Risks

Cash was USD 142.8 million at October 2, 2026, up from USD 124.1 million at December 31, 2025. The company repaid USD 75 million on its revolver during the quarter, lifting revolver availability to USD 160 million.

Third quarter bookings of USD 105.9 million were below the USD 144.3 million recorded in the second quarter, which investors may weigh against the revenue gain.

What to Watch Next

For the fourth quarter of 2026, the company guided to revenue of USD 141 million to USD 151 million and non-GAAP diluted earnings per share of USD 0.19 to USD 0.23.

Market participants will watch whether the shares hold the pre-market gain once regular trading opens, how bookings trend after the second quarter peak, and how quickly the SaaS offering scales alongside the hardware business.