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

Harmonic brought in $360.5M of revenue in fiscal 2025, Vistance Networks $1.9B in fiscal 2025. Revenue changed by -26.2% at Harmonic and +39.7% at Vistance Networks on the year before, so Vistance Networks grew faster. Harmonic kept -12.0% of its revenue as net profit, Vistance Networks 118.2%. Free cash flow was $96.9M at Harmonic and $252.6M at Vistance Networks.

Side by side, latest fiscal year

HLITVISN
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$360.5M$1.9B
Revenue growth-26.2%+39.7%
Net income-$43.3M$2.3B
Net margin-12.0%118.2%
Free cash flow$96.9M$252.6M
Free cash flow margin26.9%13.1%
Earnings per share (diluted)-$0.38$9.63
Cash$124.1M$613.5M
Debt$112.1M$7.3B
Price to earningsn/a0.7
Market value$1.2B$1.4B
Dividend yieldn/an/a
Rank by revenue in sector#341 of 530 · Technology#152 of 530 · Technology

Over the years

Revenue
HLIT FY2018: $403.6MHLIT FY2019: $402.9MHLIT FY2020: $378.8MHLIT FY2021: $507.1MHLIT FY2022: $625MHLIT FY2023: $388.5MHLIT FY2024: $488.2MHLIT FY2025: $360.5MVISN FY2018: $4.6BVISN FY2019: $8.3BVISN FY2020: $8.4BVISN FY2021: $6.7BVISN FY2022: $5.8BVISN FY2023: $1.9BVISN FY2024: $1.4BVISN FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
HLIT $360.5MVISN $1.9B
Net income
HLIT FY2018: -$21MHLIT FY2019: -$5.9MHLIT FY2020: -$29.3MHLIT FY2021: $13.3MHLIT FY2022: $28.2MHLIT FY2023: $84MHLIT FY2024: $39.2MHLIT FY2025: -$43.3MVISN FY2018: $140.2MVISN FY2019: -$929.5MVISN FY2020: -$573.4MVISN FY2021: -$462.6MVISN FY2022: -$1.3BVISN FY2023: -$1.5BVISN FY2024: -$315.5MVISN FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
HLIT -$43.3MVISN $2.3B
Net margin
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%VISN FY2018: 3.1%VISN FY2019: -11.1%VISN FY2020: -6.8%VISN FY2021: -6.9%VISN FY2022: -22.2%VISN FY2023: -80.8%VISN FY2024: -22.8%VISN FY2025: 118.2%FY18FY19FY20FY21FY22FY23FY24FY25
HLIT -12.0%VISN 118.2%
Revenue growth
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%VISN FY2019: +82.7%VISN FY2020: +1.1%VISN FY2021: -20.1%VISN FY2022: -14.1%VISN FY2023: -67.8%VISN FY2024: -25.8%VISN FY2025: +39.7%FY19FY20FY21FY22FY23FY24FY25
HLIT -26.2%VISN +39.7%
Free cash flow
HLIT FY2018: $5.2MHLIT FY2019: $21MHLIT FY2020: $7MHLIT FY2021: $28MHLIT FY2022: -$3.8MHLIT FY2023: -$1.4MHLIT FY2024: $52.7MHLIT FY2025: $96.9MVISN FY2018: $411.8MVISN FY2019: $492.3MVISN FY2020: $315MVISN FY2021: -$9.1MVISN FY2022: $88.7MVISN FY2023: $236.6MVISN FY2024: $247.8MVISN FY2025: $252.6MFY18FY19FY20FY21FY22FY23FY24FY25
HLIT $96.9MVISN $252.6M

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

Questions about Harmonic and Vistance Networks

Which is bigger by revenue, Harmonic or Vistance Networks?

Vistance Networks is bigger by revenue: $1.9B in fiscal 2025, against $360.5M for Harmonic in fiscal 2025.

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

Harmonic had a net margin of -12.0% in fiscal 2025; Vistance Networks had 118.2% in fiscal 2025.

Which grew revenue faster, Harmonic or Vistance Networks?

In their latest fiscal years revenue changed by -26.2% at Harmonic and +39.7% at Vistance Networks.

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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