Driven by what is currently booming business with the top two U.S. MSOs, cable-tech vendor Harmonic on Tuesday reported a 20% year-over-year revenue surge in the fourth quarter for its broadband division, with revenue reaching $115.2 million.
Sales of CableOS virtualized cable modem termination system (CMTS) software, as well as Remote-PHY technology, to Comcast accounted for 41% of this revenue, Harmonic said during its earnings call. Sales of similar products to Charter Communications added up to 15% of overall broadband sector revenue.
You can read Harmonic's full Q4 earnings release here.
Harmonic said its CableOS customer base has now expanded to 108, up 19% since the beginning of 2023, and the technology is now serving 26.3 customer cable modems worldwide. That's 15% of all cable modems globally.
"We had several new customer wins during the fourth quarter, including a new top 10 North American operator for whom we made initial shipments," Harmonic CEO Patrick Harshman told equity analysts. "Our pipeline of new customers remained strong, mostly by the expanding breadth and depth of our competitive advantages. An important area of expanding competitive differentiation for Harmonic is DOCSIS 4.0. Our software core has seamlessly accommodated the new standard as have our Remote PHY edge device designs."
Overall Harmonic revenue in Q4 was down 1.7% to $167.1 million, with sales for the company's struggling video sector down 24% to to $51.9 million.
Harmonic said back in October that it considering selling its video division.
