HIGHBuilt-inGeographic
89%
Americas
“10-K Item 1: 'We derived approximately 89% of our revenue from the Americas in 2025.'”
HLIT · Concentration risk · 10-K extracted
Harmonic (HLIT) concentration risks
Updated
The most significant concentration Harmonic discloses is Americas at 89%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Harmonic’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 5 disclosed concentrations
HIGH4
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
84%
top 10 customers
“10-K Item 1: 'Sales to our 10 largest customers in 2025, 2024 and 2023 accounted for approximately 84%, 91% and 90% of our net revenue, respectively.'”
HIGHOutside partyCustomer
54%
single largest customer
“10-K Item 1: 'During the fiscal year ended December 31, 2025, one customer accounted for 54% of our net revenue.'”
HIGHOutside partySupplier
sole-source and limited-group component suppliers
“10-K Item 1: 'Many components, subassemblies and modules necessary for the manufacture or integration of our products are obtained from a sole supplier or a limited group of suppliers.'”
MEDIUMOutside partySupplier
Plexus Services Corp.
“10-K Item 1: 'Plexus accounts for the majority of the products we purchase from our contract manufacturers.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Harmonic's concentration risk is broad-based and mostly high-share. Geographically, the Americas generated approximately 89% of revenue, a high-share structural feature of where the business currently sells. On the customer side, the ten largest customers accounted for approximately 84% of net revenue, and within that group a single customer alone represented 54% of net revenue in the most recent fiscal year — both high-share dependencies that leave the business exposed to the loss or reduced spending of a small number of buyers. On the supply side, many components are sourced from a sole supplier or a limited group of suppliers, also a high-share dependency, with Plexus Services Corp. accounting for the majority of products purchased from contract manufacturers, a medium-share dependency layered on top of that broader sourcing risk. With four of five disclosed exposures rated high-share, Harmonic's concentration picture is unusually dense: a geographic tilt, a dominant single customer, and a thin supplier base all point in the same direction — results are highly sensitive to a small number of counterparty and geographic factors rather than being smoothed out across a diversified base. This combination should weigh meaningfully on any investment thesis built on revenue durability.
For the engine’s reasoning on HLIT’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Communication Equipment
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| HLIT● | Harmonic Inc. | 4 | 1 | 0 | 5 |
| AAOI | Applied Optoelectronics, Inc. | 2 | 1 | 0 | 3 |
| ADTN | ADTRAN Holdings, Inc. | 1 | 0 | 2 | 3 |
| CIEN | Ciena Corporation | 0 | 2 | 2 | 4 |
| BDC | Belden Inc | 0 | 2 | 1 | 3 |
| ASTS | AST SpaceMobile, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.