As part of its Q4 2023 earnings call, Harmonic Inc has given an update on the review of its video business ahead of a potential sale.
At the end of October, the company said it was assessing “a range of alternatives” for its video business and has received “indication of interest” from a number of parties.
During the company’s Q4 2023 earnings call, chief financial officer Walter Jankovic told analysts: “We are continuing the strategic review process and it remains a top priority for us.
“Having said that, no specific timetable has been established for the completion of the review,” he added. “We are not providing any further details on this process unless and until a definitive agreement has been reached and our board approves the transaction or decides to conclude the review.”
Executives did not discuss the reported challenge to its board of directors by investor Ancora to force the company into the sale.
During Q4, the company’s video revenue reached $51.9 million, including SaaS revenue of $13.2 million or 25.4 per cent of segment revenue for the quarter, up 26 per cent from the 2002.
Video SaaS revenue growth continues to be driven by live sports streaming expansions and new customer wins, said the company.
