HARMONIC INC. 8-K

What Happened

• HARMONIC INC. (HLIT) filed an 8‑K on March 11, 2026 announcing it entered into a Put Option Agreement to sell its Video business to LeoneMedia Inc. (d/b/a MediaKind). The disposition is expected to close in the first half of 2026, subject to customary closing conditions, including completion of the required consultation with the French employee works council.
• Upon execution of the agreement, Harmonic concluded the Video business met held-for-sale and discontinued-operations accounting criteria and reclassified Video results as discontinued operations in its consolidated statements of operations for all periods presented in its Annual Report on Form 10‑K for the fiscal year ended December 31, 2025. The company’s continuing operations are now reported as a single reportable segment: Broadband.
• Harmonic provided unaudited supplemental quarterly historical financial information for 2025 (Exhibit 99.1) to reflect the reclassification of the Video business; the company stated this supplemental information is for modeling purposes and does not restate previously filed consolidated statements or non‑GAAP measures.

Key Details

• Transaction type: Put Option Agreement to sell Video business to LeoneMedia Inc. (MediaKind).
• Expected close: First half of 2026; subject to customary conditions including French works council consultation.
• Accounting impact: Video business classified as held-for-sale and discontinued operations in the FY2025 Form 10‑K; continuing operations now only Broadband.
• Supplemental disclosure: Unaudited quarterly historical financial data for 2025 provided as Exhibit 99.1 to support financial modeling (does not revise prior filings).

Why It Matters

• The sale separates Harmonic’s Video operations from its ongoing business, so future results and metrics will reflect a single reportable Broadband segment—important when comparing past and future revenue, margins, and guidance.
• Investors and analysts should use the supplemental 2025 quarterly data for modeling discontinued vs. continuing operations, but note Harmonic did not restate previously filed financial statements.
• Closing is not guaranteed until conditions (notably the French works council process) are satisfied, so timing and final terms could affect near‑term results or expectations.