today. joining for Patrick, thank Thanks, all and you us
Before on to discuss I'd basis. well a as our non-GAAP be are our everyone that I I'll outlook, to like results results provided as the referring quarterly remind financial
QX our release this earlier, are presentation includes mentioned GAAP website. reconciliations financial David available are non-GAAP of As on discussed press call. earnings our these on of the to Both and that measures
Our well and the fourth expectations top were our quarter range bottom results the of consistent with as guidance line. midpoint above as our on the
of and Video. midpoint the Broadband revenue both in exceeded guidance we Additionally,
out QX Before in the Slide reviewing detail, on call our highlights I'll XXXX financials X. here
of revenue $XXX.X an which quarter, company reported included and revenue Broadband we record was record all-time million $XXX.X the million. For of
$XXX.X guidance. a of million, our guidance. key record highlight and few near I'd few regarding moments, In of provide bookings points XXXX will $X.XX, a detailed QX like year of X.X, EPS book-to-bill deferred of reported full to a $XXX.X that, strong revenue backlog and a million. I also Prior to We
of For revenue a our Broadband year momentum our revenue business, XX% XXXX expect on we Based the guidance. on the Broadband half increase of we to see expect accelerate the basis. to to at growth XXXX full year-over-year anticipate midpoint in XXXX we year-over-year second
well to As our backlog Patrick are technologies, ongoing and to FY growth. our we 'XX Video, to conservatively With guiding for leading continued positioned success mentioned are strong earlier, due regards strategic review. we the drive multiyear customer with
Turning revenue and QX basis. on sequential year-over-year to nearly Slide X. X% a was XX.X% up Total
segment. was increase our in to due quarter-over-quarter This growth Broadband
XX% a Looking more QX year-over-year. was closely an at increase revenue record million, of $XXX.X Broadband,
I benefited noted sales million fourth or included up of lower for revenue XX.X% segment another the $XX.X prior Tier revenue $XX.X initial revenue call. quarter, Video was during shipments the of As last anticipated, quarter, customer. X from factors were QX SaaS the our the revenue due to earnings million, Appliance we Video In Video, large of year. XX% on from the while
Video wins. by new SaaS driven live revenue continues be sports growth and to expansions streaming customer
of number maximizing We in business the of Video our profitability growing our and we our macroeconomic part a despite while in from process received we business, interest announced for indications last earnings our Appliances, headwinds. focus had review formal strategic Video call, initiation In current continue a of to due to on SaaS parties.
us. the continuing as completion and review priority review. it Having process, of that, a the has are for timetable previously no top noted, specific We said the been remains strategic established for
are any We on review. the this and further until process reached a approves agreement been not a to definitive has conclude Board and or providing our unless decides transaction details
quarter Turning back fourth our to results.
during gross business an QX, of in Edge out taking revenue points revenue. QX XX.X% our was due QX 'XX, during total the sequentially. compared we We other discussed Broadband that had of product basis of down delays To for and for margin reflecting margin mix decreased in segment that X total segment, XX% Broadband XX.X% into today's with products to even macroeconomic XXX QX representing Video clarity, gross Comcast consideration an to and shipped relatively project total greater XX% company gross representing 'XX, products the previously. margin revenue offer additional XX.X% high of customers than The representing possesses gross headwinds XX% Charter lower business quarter, year-over-year margin margins the was record mix. for in total all-time extremely was 'XX, we've portfolio.
improvement across Appliances. SaaS and This margin occurred both
from for in million on beat 'XX statement million EBITDA X. expectations to up margin QX strength income expenses a and QX QX Slide million the the discussed. on sequential line down basis. year-over-year with all was part slightly EBITDA $X.X our gross $XX.X our due expectations million, was $XX.X This translated Moving 'XX and for Video for QX Adjusted share, weighted Broadband Video. previously of $XX.X in comprised both calculated were in from into a Adjusted negative of QX and 'XX 'XX to operating Broadband while X.X shares. diluted convertible 'XX. our line $X.XX and 'XX. decrease QX prior the sequential debt average of We XXX.X million per fourth and XXX.X the per in of share to in with million of $X.XX with due compared XXXX with The is primarily count ended million QX share dilution in compared guidance XXX.X quarter 'XX million $X.XX EPS decreased
quarter. book. book-to-bill order ratio the to strong Turning X.X $XXX.X the were The million. QX for was at bookings
and were 'XX QX QX 'XX, both ratios our For book-to-bill X.X.
As to we the we normalize time, and greater benchmark ratio this over than approach historical X. stated expect previously, of
For were quarter. QX, last above X below we being after X
Slide of receivable. from operations $X.X to We cash decrease a to Turning 'XX XX. QX Cash and by due inventory-related The few an million. on due in $XX.X net sequential ended with in was sheet factors. increase deposits, offset cash $X.X the investments predominantly inventory million increase a accounts to short-term provided million balance and in
$X.X fixed the million used assets. also We of purchase in
XX was lower to days Outstanding 'XX, as a inventory the end end result prior XXX end in Day customer we of sales QX compared payment at of period large in to at period. XX end due our inventory lower at hand year tighten 'XX. QX QX of Turning to 'XX Receivables taking supply Days the XX Accounts was The was in an the discount. and and XXX of 'XX strong in the The DSO Sales on early the QX quarter a to feed and in QX QX 'XX compared prior decline to continue was at year and chain. of XX the
to allocation. capital Turning
support remains in in In delayed line top repay we to XXXX us strategy, growth $XXX credit This our priority revolving appropriate, December, that providing million facility with multiyear When driving strategically done as the draw allows demand. $XX this facility X-year future million we've liquidity and and line Our building to $XXX a new credit credit closed we ample us meet a plans. a with in outstanding notes strong invest included term to million inventory our growth. loan. flexibility while will convertible past our
to amount not borrowed principal a today, January million Tomorrow, facility. to we of XX, outstanding have notes. holders will of we entire Tuesday, our on $XXX.X issue As the this XXXX notice redeem convertible aggregate
indenture. common for notes of of to Harmonic any We under stock over to amount any conversion of elected holders such value the result, will delivering a the and As by the the principal terms notes common convertible to have stock par. conversions the cash convert right to shares their equal paying settle
to the portion on this expect cash QX redemption cash use the and redemption the facility We of in of to our hand credit fund year. and complete
returning or less Xx intend our up due our sufficient believe balance leverage of authorization to less increased with to liquidity $X no balance by available current maintaining strengthen taken shareholders available that liquidity to than while continue forward. repurchases. plan liquidity our date. we've our our going summary, to our step used capital of Additionally, sheet, enhanced stock million plans stock we which the of and actions we sheet under $XXX overall our through to we to In growth million has have funding position, been we $XXX available buybacks manage mind, net to in prudently around million, of With
the will price and market depend As a of stock we requirements. the any of stock, regulatory QX, said of $XXX.X was variety repurchases and needs amount of revenue including Harmonic's At conditions, previously, common corporate timing million. total deferred backlog the on end factors, and
commitments. from continued Video demand large customers growing SaaS strong Broadband our backlog Our reflects and
for deferred Just XX have of next shipments our request and customer for the dates revenue backlog over services XX% and months. within products of providing
million generated the cash during quarter. $X.X we in Lastly, flow free
would decided like the mention to Analyst process, the a for I guidance, ongoing setting date off we've on the strategic next reviewing that hold Before given to review Day.
in this revisit to expect future. We the
for Slide guidance beginning on first XX. non-GAAP quarter our review now Let's the
between million $XX EBITDA XX% to million, of gross between $XX to of $XX $X one largest due between to a margins between million revenue Broadband Gross and million mix, $XX reflecting customers. to transition deliver expect technology XX% We adjusted $X our to million profit million. to product
to we between profit million, million For EBITDA between and gross expect between $XXX full gross million margins $XXX revenue million. million $XXX between $XX to to the XX.X%, year, XX.X% to adjusted $XXX $XXX million
during return to growth second rate technologies. wider anticipated expect in transitioning new the also In customers to second up hit should we expect revenue the potential Broadband, accelerate project a to time greater of half XXXX larger Today's are spend the related half frame. which that we to to year the timing range enter build and For levels in of deployments of from the shifts certain see top guidance quarterly we in that line reflects and to XXXX, momentum our customers growth ramp XXXX, as their our levels as XXXX. record
million. we segment negative adjusted margin to in Video of million our $X negative revenue For expect XX%, in range QX million on of Slide range $X million, gross to the from million profit in EBITDA $XX in range of XX, the to $XX and million gross $XX $XX the to range XX% to
to $X between $X to positive For $XXX from to to $XXX the million full XX% expect between margins year, revenue million; million million range and $XXX we negative EBITDA to adjusted gross $XXX gross profit between million XX%, million.
be I reflecting earlier. review factors mentioned the ongoing continue For to and other Video, strategic macroeconomic we conservative,
XX. Turning Slide to
$XXX and diluted the XXX.X range Turning in gross first expect to for from to to average $XXX of gross total the positive of $XX the from margins between in adjusted of range million $XX loss And million, between revenue we $XXX.X the EBITDA to range XX.X% to $X.XX of $X year, $XXX million million to expect to slide to to XXXX, full million EPS average to weighted weighted $XX from gross XXX.X a A XX.X%, $X.XX for EPS million profit to XX.X%, to a quarter profit to of from of we million. profit XX.X% million; diluted million, to $XXX margin of XX million, million revenue range million, gross range million count $XXX between to $X.XX. negative count and share million a to between $X share EBITDA adjusted $XXX $XXX million $X.XX. range company
total company be continues results, including our future quarter fourth to we Broadband solid for revenue, reported growth. well segment positioned segment Broadband we summary, record In believe and
for strategic In to you, we addition, attention call questions. remarks before now to transformation during it final continued our I'll turn fourth the today. for Patrick Thank everyone, Video segment the open its for SaaS your quarter. back shift up and And
