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Aviat Networks vs Harmonic: revenue, profit, margins and growth compared

Aviat Networks brought in $439.7M of revenue in fiscal 2026, Harmonic $360.5M in fiscal 2025. Revenue changed by +1.2% at Aviat Networks and -26.2% at Harmonic on the year before, so Aviat Networks grew faster. Aviat Networks kept 0.6% of its revenue as net profit, Harmonic -12.0%. Free cash flow was $6.1M at Aviat Networks and $96.9M at Harmonic.

Side by side, latest fiscal year

AVNWHLIT
Fiscal year endedFY2026 (July 3, 2026)FY2025 (December 31, 2025)
Revenue$439.7M$360.5M
Revenue growth+1.2%-26.2%
Net income$2.5M-$43.3M
Net margin0.6%-12.0%
Free cash flow$6.1M$96.9M
Free cash flow margin1.4%26.9%
Earnings per share (diluted)$0.19-$0.38
Cash$72.8M$124.1M
Debt$97M$112.1M
Price to earnings105.7n/a
Market value$260M$1.2B
Dividend yieldn/an/a
Rank by revenue in sector#327 of 530 · Technology#341 of 530 · Technology

Over the years

Revenue
AVNW FY2019: $243.9MAVNW FY2020: $238.6MAVNW FY2021: $274.9MAVNW FY2022: $303MAVNW FY2023: $344.4MAVNW FY2024: $408.1MAVNW FY2025: $434.6MAVNW FY2026: $439.7MHLIT FY2018: $403.6MHLIT FY2019: $402.9MHLIT FY2020: $378.8MHLIT FY2021: $507.1MHLIT FY2022: $625MHLIT FY2023: $388.5MHLIT FY2024: $488.2MHLIT FY2025: $360.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AVNW $439.7MHLIT $360.5M
Net income
AVNW FY2019: $9.7MAVNW FY2020: $257KAVNW FY2021: $110.1MAVNW FY2022: $21.2MAVNW FY2023: $10.2MAVNW FY2024: $10.8MAVNW FY2025: $1.3MAVNW FY2026: $2.5MHLIT FY2018: -$21MHLIT FY2019: -$5.9MHLIT FY2020: -$29.3MHLIT FY2021: $13.3MHLIT FY2022: $28.2MHLIT FY2023: $84MHLIT FY2024: $39.2MHLIT FY2025: -$43.3MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AVNW $2.5MHLIT -$43.3M
Net margin
AVNW FY2019: 4.0%AVNW FY2020: 0.1%AVNW FY2021: 40.1%AVNW FY2022: 7.0%AVNW FY2023: 3.0%AVNW FY2024: 2.6%AVNW FY2025: 0.3%AVNW FY2026: 0.6%HLIT FY2018: -5.2%HLIT FY2019: -1.5%HLIT FY2020: -7.7%HLIT FY2021: 2.6%HLIT FY2022: 4.5%HLIT FY2023: 21.6%HLIT FY2024: 8.0%HLIT FY2025: -12.0%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AVNW 0.6%HLIT -12.0%
Revenue growth
AVNW FY2020: -2.1%AVNW FY2021: +15.2%AVNW FY2022: +10.2%AVNW FY2023: +13.7%AVNW FY2024: +18.5%AVNW FY2025: +6.5%AVNW FY2026: +1.2%HLIT FY2019: -0.2%HLIT FY2020: -6.0%HLIT FY2021: +33.9%HLIT FY2022: +23.2%HLIT FY2023: -37.8%HLIT FY2024: +25.7%HLIT FY2025: -26.2%FY19FY20FY21FY22FY23FY24FY25FY26
AVNW +1.2%HLIT -26.2%
Free cash flow
AVNW FY2019: -$2.3MAVNW FY2020: $12.9MAVNW FY2021: $14.5MAVNW FY2022: $997KAVNW FY2023: -$7MAVNW FY2024: $27.9MAVNW FY2025: -$7.2MAVNW FY2026: $6.1MHLIT FY2018: $5.2MHLIT FY2019: $21MHLIT FY2020: $7MHLIT FY2021: $28MHLIT FY2022: -$3.8MHLIT FY2023: -$1.4MHLIT FY2024: $52.7MHLIT FY2025: $96.9MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AVNW $6.1MHLIT $96.9M

Fiscal years as each company reports them; the two may end in different months.

Questions about Aviat Networks and Harmonic

Which is bigger by revenue, Aviat Networks or Harmonic?

Aviat Networks is bigger by revenue: $439.7M in fiscal 2026, against $360.5M for Harmonic in fiscal 2025.

Which keeps more of its revenue as profit, Aviat Networks or Harmonic?

Aviat Networks had a net margin of 0.6% in fiscal 2026; Harmonic had -12.0% in fiscal 2025.

Which grew revenue faster, Aviat Networks or Harmonic?

In their latest fiscal years revenue changed by +1.2% at Aviat Networks and -26.2% at Harmonic.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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