What is Harmonic's gross margin?

Harmonic (HLIT) reported gross margin of 49.7% in Q3 2025.

What is the long-term trend for Harmonic's gross margin?

Over 3 years (2020 to 2024), Harmonic's gross margin has grown at a -1.3% compound annual growth rate (CAGR), from 51.5% to 49.4%.

What does gross margin mean?

Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.

Harmonic HLIT Gross margin

Gross margin at other companies

Cisco Systems, Inc.CSCO

64.3%-0.9pp

CalixCALX

57.1%+2.1pp

MaxLinearMXL

57.2%+2.0pp

CienaCIEN

43%+1.1pp

CoherentCOHR

36.8%+2.3pp

BeldenBDC

37.4%-0.5pp

Other financials

Income statement

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Revenue$121.7M+43.4%

Gross profit$63.6M+36.9%

Operating income$20.4M+191%

Net income$7.3M+23.0%

EPS (diluted)$0.07+40.0%

Balance sheet

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Cash & equivalents$109.4M-26.6%

Total debt$131.1M-4.4%

Total equity$355.2M-20.4%

Total assets$705.3M-8.8%

Cash flow

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Operating cash flow$31.7M-62.1%

CapEx$1.4M-25.3%

Free cash flow$30.3M-62.9%

Valuation

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Market cap$1.59B-11.8%

Enterprise value$1.61B-8.9%

P/S4×0.0×

Profitability

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Operating margin21.5%—

Net margin-10.4%-22.2pp

FCF margin0%—

Returns & leverage

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Return on equity-10.5%-22.9pp

Debt / equity0.4×+0.1×

Current ratio2.3×+0.2×

Where this comes from

Calculated from Harmonic’s reported figures.

gross profit/total revenue=49.7%

Based on trailing twelve months.

The official record: Harmonic’s 10-Q, filed November 4, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Harmonic's gross margin?: Harmonic (HLIT) reported gross margin of 49.7% in Q3 2025.
What is the long-term trend for Harmonic's gross margin?: Over 3 years (2020 to 2024), Harmonic's gross margin has grown at a -1.3% compound annual growth rate (CAGR), from 51.5% to 49.4%.
What does gross margin mean?: Gross profit (revenue minus cost of revenue) as a percentage of revenue, on a trailing-twelve-month basis. Measures how much of each sales dollar survives the direct cost of producing the goods or services sold.