0001193125-26-067506 | 10-K | XBRL Viewer

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SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION - Schedule of Revenue on Customer Concentration (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total net revenue	$ 360,523	$ 488,200	$ 388,482
Top 2 customers
Segment Reporting Information [Line Items]
Total net revenue	221,787	393,234	284,178
Rest-of-world
Segment Reporting Information [Line Items]
Total net revenue	$ 138,736	$ 94,966	$ 104,304

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

LEASES - Schedule of Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease cost	$ 6,812	$ 6,943
Variable lease cost	1,228	1,537
Total lease cost	8,040	8,480
Supplemental cash flow disclosure:
Cash paid for operating lease liabilities	6,166	7,163
Right-of-use assets obtained in exchange for operating lease obligations	$ 5,028	$ 489
Operating leases
Weighted-average remaining lease term (years)	4 years 3 months 18 days	5 years
Weighted-average discount rate	6.60%	6.50%

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy We have established policies and processes for assessing, identifying, and managing material risk from cybersecurity threats, and have integrated these processes into our overall risk management systems and processes. We routinely assess material risks from cybersecurity threats, including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein. We conduct periodic and ad-hoc risk assessments to identify cybersecurity threats, as well as assessments in the event of a material change in our business practices that may affect information systems that are vulnerable to such cybersecurity threats. These risk assessments include identification of reasonably foreseeable internal and external risks, the likelihood and potential damage that could result from such risks, and the sufficiency of existing policies, procedures, systems, and safeguards in place to manage such risks. Following these risk assessments, we evaluate whether and how to re-design, implement, and maintain reasonable safeguards to mitigate identified risks and reasonably address any identified gaps in existing safeguards. We also regularly monitor the effectiveness of our safeguards. We devote significant resources and designate high-level personnel, including our Chief Information Security Officer (“CISO”), who reports to our Chief Financial Officer (“CFO”), to manage the risk assessment and mitigation process. As part of our overall risk management system, we monitor and test our safeguards and train our employees on these safeguards, in collaboration with human resources, IT, and management. Personnel at all levels and departments are made aware of our cybersecurity policies through trainings. We engage auditors and other third parties in connection with our risk assessment processes. These service providers assist us to monitor, enhance and test our safeguards. We require key third-party service providers to certify that such providers have the ability to implement and maintain appropriate security measures, consistent with all applicable laws, to implement and maintain reasonable security measures in connection with their work with us, and to promptly report any suspected breach of their security measures that may affect our company. For additional information regarding whether any risks from cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected or are reasonably likely to materially affect our company, including our business strategy, results of operations, or financial condition, please refer to Item 1A, “Risk Factors,” in this annual report on Form 10-K, including the risk factors entitled “Cybersecurity incidents, including data security breaches or computer viruses, could harm our business by disrupting our business operations, compromising our products and services, damaging our reputation or exposing us to liability”.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	We have established policies and processes for assessing, identifying, and managing material risk from cybersecurity threats, and have integrated these processes into our overall risk management systems and processes. We routinely assess material risks from cybersecurity threats, including any potential unauthorized occurrence on or conducted through our information systems that may result in adverse effects on the confidentiality, integrity, or availability of our information systems or any information residing therein.
Cybersecurity Risk Management Third Party Engaged [Flag]		true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	One of the key functions of our board of directors is informed oversight of our risk management process, including risks from cybersecurity threats. Our board of directors is responsible for monitoring and assessing strategic risk exposure, and our executive officers are responsible for the day-to-day management of the material risks we face. Our board of directors administers its cybersecurity risk oversight function directly as a whole, as well as through the audit committee. Our CISO is responsible for assessing and managing our material risks from cybersecurity threats, in close coordination with the senior executive leaders of our business. Our CISO oversees our cybersecurity policies and processes, including those described in “Risk Management and Strategy” above, in close coordination with the senior executive leaders of our business. The processes by which our CISO is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents includes the following: regular reports from the Company’s 24/7 cybersecurity operations center monitoring systems and established incident reporting and escalation from the executive leaders of our corporate information technology function and operational business leaders. Our CISO provides briefings to the audit committee throughout the year regarding our company’s cybersecurity risks and activities, including any recent cybersecurity incidents and related responses, cybersecurity systems testing, activities of third parties, and the like. Our audit committee provides regular updates to the board of directors on such reports. In addition, our CISO provides annual briefings to the board of directors on cybersecurity risks and activities. Our board may also be notified and engaged as part of the Company’s cybersecurity incident response plans, depending on the significance of an incident. The CISO’s responsibilities include the Company’s cybersecurity efforts and policies, and he reports directly to our CFO. Our CISO previously served in relevant leadership positions at other large public companies and brings to the role a wealth of information security and information technology knowledge and experience.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	One of the key functions of our board of directors is informed oversight of our risk management process, including risks from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The processes by which our CISO is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents includes the following: regular reports from the Company’s 24/7 cybersecurity operations center monitoring systems and established incident reporting and escalation from the executive leaders of our corporate information technology function and operational business leaders.
Cybersecurity Risk Role of Management [Text Block]	Our CISO is responsible for assessing and managing our material risks from cybersecurity threats, in close coordination with the senior executive leaders of our business. Our CISO oversees our cybersecurity policies and processes, including those described in “Risk Management and Strategy” above, in close coordination with the senior executive leaders of our business. The processes by which our CISO is informed about and monitors the prevention, detection, mitigation, and remediation of cybersecurity incidents includes the following: regular reports from the Company’s 24/7 cybersecurity operations center monitoring systems and established incident reporting and escalation from the executive leaders of our corporate information technology function and operational business leaders.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]		Our CISO is responsible for assessing and managing our material risks from cybersecurity threats, in close coordination with the senior executive leaders of our business.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our CISO provides briefings to the audit committee throughout the year regarding our company’s cybersecurity risks and activities, including any recent cybersecurity incidents and related responses, cybersecurity systems testing, activities of third parties, and the like. Our audit committee provides regular updates to the board of directors on such reports. In addition, our CISO provides annual briefings to the board of directors on cybersecurity risks and activities. Our board may also be notified and engaged as part of the Company’s cybersecurity incident response plans, depending on the significance of an incident.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

INCOME TAXES - Schedule of Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 1,221	$ 27,600	$ 16,618
State	358	6,317	3,766
Foreign	2,884	2,402	1,794
Deferred:
Federal	3,514	(16,743)	(77,450)
State	628	(790)	(6,181)
Foreign	(960)	2,032	960
Total provision for (benefit from) income taxes	$ 7,645	$ 20,818	$ (60,493)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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+ Details

INCOME TAXES - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Reserves and accruals	$ 21,336	$ 22,100
Net operating loss carryforwards	19,203	3,327
Research and development credit carryforwards	30,630	30,350
Deferred stock-based compensation	1,176	2,341
Intangibles	3,695	4,385
Operating lease liabilities	3,377	3,841
Capitalized research and development expenses	56,181	83,054
Other	5,249	3,219
Gross deferred tax assets	140,847	152,617
Valuation allowance	(32,992)	(33,397)	$ (32,869)	$ (97,315)
Gross deferred tax assets after valuation allowance	107,855	119,220
Deferred tax liabilities:
Depreciation	(1,952)	(3,127)
Operating lease right-of-use assets	(1,860)	(2,187)
Gross deferred tax liabilities	(3,812)	(5,314)
Net deferred tax assets	$ 104,043	$ 113,906

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements include those of Harmonic and its wholly-owned subsidiaries, after elimination of all intercompany accounts and transactions. The Company has reclassified certain amounts previously reported in its consolidated financial statements that were not material, to conform to the current presentation. The Company’s fiscal quarters are based on 13-week periods, except for the fourth quarter which ends on December 31.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company’s reported financial positions or results of operations may be materially different under changed conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies. If estimates or assumptions differ from actual results, subsequent periods are adjusted to reflect more current information.

Cash and Cash Equivalents

All highly liquid investments with an original maturity of three months or less at the date of purchase are considered cash equivalents. The carrying amount of cash and cash equivalents approximates fair value because of the short maturity of those instruments.

Credit Risk and Major Customers/Supplier Concentration

Financial instruments which subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and accounts receivable. Cash and cash equivalents are invested in short-term, highly liquid, investment-grade instruments, in accordance with the Company’s investment policy. The investment policy limits the amount of credit exposure to any one financial institution, commercial or governmental issuer.

The Company’s accounts receivable are derived from sales to worldwide cable, satellite, telco, and broadcast and media companies. The Company generally does not require collateral from its customers, and performs ongoing credit evaluations of its customers and provides for expected losses. The Company maintains an allowance for doubtful accounts based upon the expected collectability of its accounts receivable. One customer had a balance greater than 10% of the Company’s net accounts receivable balance as of December 31, 2025. Two customers had a balance greater than 10% of the Company’s net accounts receivable balance as of December 31, 2024. During the years ended December 31, 2025 and 2023, one customer accounted for more than 10% of the Company’s total net revenue. During the year ended December 31, 2024, two customers each accounted for more than 10% of the Company’s total net revenue.

Certain of the components and subassemblies included in the Company’s products are obtained from a single source or a limited group of suppliers. Although the Company seeks to reduce dependence on those sole source and limited source suppliers, the partial or complete loss of certain of these sources could have at least a temporary adverse effect on the Company’s results of operations and damage customer relationships.

Revenue Recognition

The Company classifies its total revenue in two categories on the face of the statement of operations, “Appliance and integration” and “SaaS and service”. Appliance and integration revenue includes revenue from the sale of hardware products and perpetual software licenses, as well as the associated professional services such as testing, design, installation, commissioning, and integration, collectively referred to as “professional services”. These professional service agreements, associated with the sale of hardware products and perpetual software licenses, are typically of a short duration and are considered an important component of the appliance business by management.

The Company applies the provisions of ASC 606, Revenue from Contracts with Customers (“ASC 606”) as a single standard for revenue recognition that applies to all of its hardware products, software licenses and services arrangements and generally require revenues to be recognized upon the transfer of control of promised goods or services provided to its customers, reflecting the amount of consideration the Company expects to receive for those goods or services. Pursuant to ASC 606, revenue is recognized upon the application of the following steps:

•

identification of the contract, or contracts, with a customer;

•

identification of the performance obligations in the contract;

•

determination of the transaction price;

•

allocation of the transaction price to each performance obligation in the contract; and

•

recognition of revenues when, or as, the contractual performance obligations are satisfied.

Hardware and Software: Revenue from the sale of hardware and software products is recognized when control is transferred. For most of the Company’s product sales (including sales to distributors and system integrators), control is transferred at the time the product is shipped or delivery has occurred because the customer has significant risks and rewards of ownership of the asset and the Company has a present right to payment at that time.

Shipping and handling costs are accounted for as a fulfillment cost and are recorded in “Cost of revenue” in the Company’s Consolidated Statements of Operations. Sales tax and other amounts collected on behalf of third parties are excluded from the transaction price.

Professional services: Revenues from professional services are generally recognized as the services are performed.

SaaS services: Revenue for SaaS service is recognized ratably over the contractual term as the customer simultaneously receives and consumes the benefit of the underlying service.

Support and maintenance: Support and maintenance services are satisfied ratably over time as the customer simultaneously receives and consumes the benefits of the services.

Arrangements with Multiple Performance Obligations: The Company has revenue arrangements that include multiple performance obligations. The Company allocates the transaction price to all distinct performance obligations based on their relative standalone selling prices (“SSP”). The Company may exercise judgment when determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together. The determination of SSP is based on the contractually stated, observable prices of the promised goods and services charged when sold separately to the customer. Where SSP is not directly observable, we determine the SSP using information which considers multiple factors including, but not limited to, major product groupings, gross margin objectives and pricing practices. Pricing practices taken into consideration include discounts offered and applicable price lists.

Contract Balances: Deferred revenue represents the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration (or an amount of consideration is due) from the customer. The Company’s payment terms vary by the type and location of its customer and the products or services offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products or services are delivered to the customer.

The amount of revenues recognized during the years ended December 31, 2025 and 2024 that were included in the opening deferred revenue balance as of January 1, 2025 and 2024, respectively, were $13.4 million and $10.4 million.

Contract assets exist when the Company has satisfied a performance obligation but does not have an unconditional right to consideration (e.g., because the entity first must satisfy another performance obligation in the contract before it is entitled to invoice the customer).

Contract assets and deferred revenue consisted of the following:


	As of December 31,
(in thousands)	2025		2024
Contract assets	$	1,959	$	1,035
Deferred revenue	$	33,006	$	16,996

Contract assets and the non-current portion of deferred revenue are reported as components of “Prepaid expenses and other current assets” and “Other non-current liabilities”, respectively, on the Consolidated Balance Sheets.

Remaining performance obligations represent contracted revenues that had not yet been recognized and future revenue recognition is expected. The aggregate balance of the Company’s remaining performance obligations as of December 31, 2025, was $573.8 million, of which approximately 53% is expected to be recognized as revenue over the next twelve months and the remainder thereafter.

Contract costs: The incremental costs of obtaining a contract are capitalized if the costs are expected to be recovered. Costs that are recognized as assets are amortized on a straight-line basis over the period during which the related goods or services transfer to the customer. Costs incurred to fulfill a contract are capitalized if they are not covered by other relevant guidance, relate directly to a contract, will be used to satisfy future performance obligations, and are expected to be recovered.

The balances of net capitalized contract costs included in the Company’s Consolidated Balance Sheets were as follows:


(in thousands)		As of December 31,
Balance Sheet Location:	2025		2024
Prepaid expenses and other current assets	$	1,139	$	560
Other non-current assets		1,005		552
Total net capitalized contract costs	$	2,144	$	1,112

The amortization of the capitalized contract costs for the years ended December 31, 2025, 2024 and 2023 was $0.9 million, $0.5 million and $0.1 million, respectively.

Refer to Note 13, “Segment Information, Geographic Information and Customer Concentration” for disaggregated revenue information.

Inventories

Inventories are stated at the lower of cost (determined on first-in, first-out basis) or net realizable value. The cost of inventories is comprised of material and manufacturing labor and overheads. The Company establishes provisions for excess and obsolete inventories to reduce such inventories to their estimated net realizable value after evaluation of historical sales, future demand and market conditions, expected product life cycles and current inventory levels. Such provisions are charged to cost of revenue in the Company’s Consolidated Statements of Operations.

Property and Equipment

Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. Estimated useful lives are generally five years for furniture and fixtures, three years for software and four years for machinery and equipment. Depreciation for leasehold improvements are computed using the shorter of estimated useful lives or the terms of the related leases. The Company reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. For the year ended December 31, 2025, the Company recognized impairment charges of $0.3 million related to leasehold improvements. For the year ended December 31, 2024, the Company recognized impairment charges of $4.3 million related to leasehold improvements. Refer to Note 4, “Leases” for more details. For the year ended December 31, 2023, there was no impairment charges for property and equipment.

Goodwill

Goodwill is assigned to one or more reporting segments on the date of acquisition. We review our goodwill for impairment annually during our fourth quarter of each fiscal year and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of any one of our reporting units below its respective carrying amount. The Company monitors changing business conditions as well as industry and economic factors, among others, for events which could trigger the need for an interim impairment analysis. In performing our goodwill impairment test, we first perform a qualitative assessment, which requires that we consider events or circumstances including macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy, changes in customers, changes in the composition or carrying amount of a reporting segment’s net assets and changes in our stock price. If, after assessing the totality of events or circumstances, we determine that it is more likely than not that the fair values of our reporting segments are greater than the carrying amounts, then the quantitative goodwill impairment test is not performed.

If the qualitative assessment indicates that the quantitative analysis should be performed, we then evaluate goodwill for impairment by comparing the fair value of each of our reporting segments to its carrying value, including the associated goodwill. To determine the fair values, we use the market approach based on comparable publicly traded companies in similar lines of businesses and the income approach based on estimated discounted future cash flows. Our cash flow assumptions consider historical and forecasted revenue, operating costs and other relevant factors.

The changes in the Company's carrying amount of goodwill are as follows:


(in thousands)	Carrying Amount
Balance as of December 31, 2023	$	60,781
Foreign currency translation adjustment		(8)
Balance as of December 31, 2024	$	60,773
Foreign currency translation adjustment		127
Balance as of December 31, 2025	$	60,900

In the fourth quarter of 2025, we determined that our Video reporting segment met the criteria to be classified as held-for-sale. Accordingly, we tested goodwill for impairment and concluded that the fair value of the reporting unit had declined below its carrying value. As a result, we recorded a goodwill impairment charge of $57.5 million which is included within “Loss from discontinued operations, net of tax” in the consolidated statement of operations. No goodwill impairment charges were recorded for the year ended December 31, 2024 and 2023. For additional information on the pending disposition of the Video business, refer to Note 3, "Discontinued Operations."

Leases

The Company determines if an arrangement is a lease at inception. Operating lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. The Company’s lease contracts do not provide an implicit borrowing rate; hence the Company determined the incremental borrowing rate based on information available at lease commencement to determine the present value of lease liability. Right-of-use (“ROU”) assets related to our operating lease liabilities are measured at lease inception based on the initial measurement of the lease liability, plus any prepaid lease payments and less any lease incentives. As of December 31, 2025, the Company has operating leases primarily consisting of facilities with remaining lease terms of 1 year to 7 years, some of which included the option to extend the term. Optional periods to extend the lease, including by not exercising a termination option, are included in the lease term when it is reasonably certain that the option will be exercised. The Company recognizes operating lease expense on a straight-line basis over the lease term and classify both the ROU assets amortization and imputed interest as operating expenses. Operating leases are included in “Operating lease right-of-use assets”, “Operating lease liabilities, current”, and “operating lease liabilities, non-current” in the Consolidated Balance Sheets.

Foreign Currency

The functional currency of the Company’s Israeli and Swiss subsidiaries is the U.S. dollar. All other foreign subsidiaries use the respective local currency as the functional currency. When the local currency is the functional currency, gains and losses from translation of these foreign currency financial statements into U.S. dollars are recorded as a separate component of other comprehensive income (loss) in stockholders’ equity.

The Company’s foreign currency exposure is also related to its net position of monetary assets and monetary liabilities held by its foreign subsidiaries in their nonfunctional currencies. These monetary assets and liabilities are being remeasured into the subsidiaries’ respective functional currencies using exchange rates as of the balance sheet date. Such remeasurement gains and losses are included in “Other income (expense), net” in the Company’s consolidated statements of operations. During the years ended December 31, 2025 and 2023, the Company recorded remeasurement loss of approximately $1.4 million and $0.2 million, respectively. During the year ended 2024, the Company recorded remeasurement gain of approximately $3.3 million.

Research and Development

Research and development (“R&D”) costs are expensed as incurred and consist primarily of employee salaries and related expenses, contractors and outside consultants, supplies and materials, equipment depreciation and facilities costs, all associated with the design and development of new products and enhancements of existing products.

Restructuring and Related Charges

The Company’s restructuring charges consist primarily of employee severance, one-time termination benefits related to the reduction of its workforce, and other costs. Liabilities for costs associated with a restructuring activity are recognized when the liability is incurred and are measured at fair value. One-time termination benefits are expensed at the date the entity notifies the employee, unless the employee must provide future service, in which case the benefits are expensed ratably over the future service period. Termination benefits are calculated based on regional benefit practices and local statutory requirements.

Warranty

The Company accrues for estimated warranty costs at the time of revenue recognition and records such accrued liabilities as part of cost of revenue. Management periodically reviews its warranty liability and adjusts the accrued liability based on the terms of warranties provided to customers, historical and anticipated warranty claims experience, and estimates of the timing and cost of warranty claims.

Advertising Expenses

All advertising costs are expensed as incurred and included in “Selling, general and administrative expenses” in the Company’s Consolidated Statements of Operations. Advertising expense was $0.2 million, $0.3 million and $0.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Stock-based Compensation

The Company measures and recognizes compensation expense for all stock-based compensation awards made to employees, including stock options, restricted stock units (“RSUs”) and stock purchase rights under the Company’s Employee Stock Purchase Plan (“ESPP”), based upon the grant-date fair value of those awards. The Company recognizes the impact of forfeitures as they occur.

The fair value of the Company’s stock purchase rights under ESPP is estimated at grant date using the Black-Scholes option pricing model. The fair value of the Company’s RSUs and performance-based RSUs (“PRSUs”) is calculated based on the market value of the Company’s stock at the grant date. The fair value of the Company’s market-based RSUs (“MRSUs”) is estimated using the Monte-Carlo valuation model with market vesting conditions.

The Company recognizes the stock-based compensation expense for RSUs, PRSUs, MRSUs and stock purchase rights under ESPP on straight-line basis over the requisite service period, which is generally the vesting period. The Company recognizes the stock-based compensation expense for PRSUs based on the probability of achieving performance criteria defined in the PRSU agreements. The Company estimates the number of PRSUs ultimately expected to vest and recognizes expense using the graded vesting attribution method over the requisite service period. Changes in the estimates related to probability of achieving certain performance criteria and number of PRSUs expected to vest could significantly affect the related stock-based compensation expense from one period to the next. The Company recognizes the expense for MRSUs over the requisite services periods regardless of whether the market conditions are satisfied.

Income Taxes

The Company accounts for income taxes using the asset and liability method of accounting for income taxes. The Company calculates and provides for income taxes in each of the tax jurisdictions in which it operates. The deferred tax assets and liabilities are recognized for future tax consequences attributable to temporary differences between the financial statement carrying values of existing assets and liabilities and their respective tax bases and all operating losses carried forward, if any. Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which the applicable temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates or tax status is recognized in the statements of income in the period in which the change is identified. Deferred tax assets are reduced by a valuation allowance if, based on available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

The Company is subject to examination of its income tax returns by various tax authorities on a periodic basis. The Company regularly assesses the likelihood of adverse outcomes resulting from such examinations to determine the adequacy of its provision for income taxes. The Company has applied the provisions of the applicable accounting guidance on accounting for uncertainty in income taxes, which requires application of a more-likely-than-not threshold to the recognition and de-recognition of uncertain tax positions. If the recognition threshold is met, the applicable accounting guidance permits the Company to recognize a tax benefit measured at the largest amount of tax benefit that, in the Company’s judgment, is more than 50% likely to be realized upon settlement. It further requires that a change in judgment related to the expected ultimate resolution of uncertain tax positions be recognized in earnings in the period of such change.

The Company files annual income tax returns in multiple taxing jurisdictions around the world. A number of years may elapse before an uncertain tax position is audited and finally resolved. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, the Company believes that its reserves for income taxes reflect the most likely outcome. The Company adjusts these reserves and penalties, as well as the related interest, in light of changing facts and circumstances. Changes in the Company’s assessment of its uncertain tax positions or settlement of any particular position could materially and adversely impact the Company’s income tax rate, operating results, financial position and cash flows.

Recently Adopted Accounting Pronouncements

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures. This ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The Company adopted ASU 2023-09 on a prospective basis in the fourth quarter of fiscal 2025, which resulted in the inclusion of required additional disclosures in our consolidated financial statements. Refer to Note 11, “Income Taxes” for our updated presentation.

Recently Issued Accounting Pronouncement and Income Tax Legislation

New Accounting pronouncement Not Yet Adopted

In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. The ASU requires entities to disclose specified information about certain expenses in the notes to the financial statements, including employee compensation. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027 with early adoption permitted. The Company is currently assessing the impact of this ASU on our consolidated financial statements and related disclosures.

From time to time, new accounting pronouncements are issued by the FASB, or other standards setting bodies, that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes the impact of recently issued standards that are not yet effective will not have a material impact on its consolidated financial position, results of operations and cash flows upon adoption.

Income Tax Legislation

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (“OBBBA”). The OBBBA adjusted a number of provisions affecting businesses including the immediate expensing of domestic research and development costs, limitations on deductions for interest expense, and accelerated fixed asset depreciation. As of December 31, 2025, we have recognized the tax effects of the OBBBA, which did not have a material impact on our consolidated financial statements.

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	0	0
Achievement percentage	100.00%
1995 Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share exercise price (in percent)	100.00%
Expiration period (in years)	7 years
2002 Director Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share exercise price (in percent)	100.00%
Two Thousand Twenty Five Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock reserved for issuance (in shares)	6,862,417
Shares available for grant (in shares)	5,157,932
Maximum \| 1995 Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period (in years)	4 years
Minimum \| 1995 Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period (in years)	2 years
Incentive Stock Option Or Non Statutory Stock Option With Exercise Price Less Than Fair Value Of Common Stock On Grant Date \| 1995 Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	0
PRSUs \| 1995 Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	47,048
MRSUs \| 1995 Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted (in shares)	188,190
RSUs
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Fair value	$ 29.9	$ 25.6	$ 22.5
Unrecognized share-based compensation cost	$ 21.1
Weighted-average period (in years)	1 year 6 months
Granted (in dollars per share)	$ 9.42
RSUs \| 1995 Stock Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average exercise price (in dollars per share)	0
RSUs \| 2002 Director Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average exercise price (in dollars per share)	$ 0
Vesting period (in years)	1 year
Employee stock purchase rights under ESPP
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share exercise price (in percent)	85.00%
Common stock capital shares reserved for future issuance (in shares)	500,000
Common stock reserved for issuance (in shares)	408,348
Employees payroll deductions minimum (in percent)	1.00%
Employees payroll deductions maximum (in percent)	10.00%
Common stock issued under the 2002 ESPP (in shares)	653,580	622,004	733,030
Stock contributions value under 2002 ESPP	$ 6.0	$ 6.6	$ 6.6
Discount on the purchase of the stock (in percent)	15.00%
Fair value of the put option (in percent)	15.00%
Granted (in dollars per share)	$ 3.46	$ 3.76	$ 4.23
Employee Stock Option \| 2002 Director Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period (in years)	3 years
Expiration period (in years)	7 years

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2025

Equity [Abstract]

STOCKHOLDERS' EQUITY

NOTE 10: STOCKHOLDERS’ EQUITY

Share Repurchase Program

In February 2025, the Board of Directors terminated the Company’s existing stock repurchase program and authorized a new program under which the Company may repurchase up to $200 million of its outstanding shares of common stock through February 2028. The Company is authorized to repurchase, from time-to-time, shares of its outstanding common stock through open market purchases and 10b5-1 trading plans, in accordance with applicable rules and regulations, at such time and such prices as management may decide. The program does not obligate the Company to repurchase any specific number of shares and may be discontinued at any time. The actual timing and amount of repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors.

During the year ended December 31, 2025, the company repurchased and retired approximately 8.1 million shares of the Company’s common stock for an aggregate amount of $79.0 million.

- Definition

The entire disclosure for equity.

+ References

+ Details

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Feb. 28, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock repurchase program, authorized amount			$ 200,000
Stock repurchased and retired during period (in shares)	8.1
Stock repurchased and retired during period, value	$ 79,028	$ 30,049

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

DESCRIPTION OF BUSINESS (Details) $ in Millions	Dec. 08, 2025 USD ($)
Leone Media Inc.
Business Combination [Line Items]
Purchase price	$ 145

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

DISCONTINUED OPERATIONS - Summary of Carrying Values of the Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Accounts receivable, net	$ 38,895	$ 34,289
Inventories	23,890	20,944
Prepaids and other current assets	13,207	12,714
Property and equipment, net	1,296	1,661
Goodwill	123,479	176,103
Deferred income taxes, net	8,742	7,122
Other non-current assets	14,452	14,178
Total assets held for sale	223,961	267,011
Liabilities
Current portion of other borrowings	5,605	4,941
Accounts payable	8,004	6,932
Deferred revenue	26,577	32,684
Other current liabilities	22,936	17,695
Other long-term borrowings	8,076	8,694
Other non-current liabilities	14,473	16,020
Total liabilities to be disposed of	$ 85,671	$ 86,966

ACCOUNTS RECEIVABLE - Schedule of Activity in Allowances for Expected Credit Losses and Sales Returns (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 415	$ 950	$ 664
Charges to Revenue	727	203	887
Charges (Credits) to Expense	(1)	(81)	194
Deductions from Reserves	(914)	(657)	(795)
Balance at End of Period	$ 227	$ 415	$ 950

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

CERTAIN BALANCE SHEET COMPONENTS (Tables)

12 Months Ended

Dec. 31, 2025

Balance Sheet Related Disclosures [Abstract]

Schedule of Inventories


Inventories:	As of December 31,
(in thousands)	2025		2024
Finished goods	$	32,430	$	27,456
Raw materials		8,452		11,156
Work-in-process		4,393		2,348
Service-related spares		2,565		2,100
Total	$	47,840	$	43,060

Schedule of Prepaid Expenses and Other Current Assets


Prepaid expenses and other current assets:	As of December 31,
(in thousands)	2025		2024
Prepaid expenses	$	7,107	$	3,939
Contract assets		1,959		1,035
Other current assets (1)		3,464		4,914
Total	$	12,530	$	9,888

(1) Balance as of December 31, 2025 and 2024 included restricted cash of $0.4 million and $0.3 million, respectively.

Schedule of Property and Equipment, Net


Property and equipment, net:	As of December 31,
(in thousands)	2025		2024
Machinery and equipment	$	76,971	$	72,302
Capitalized software		27,163		26,564
Leasehold improvements		25,336		25,588
Furniture and fixtures		2,569		2,443
Construction-in-progress		2,557		801
Property and equipment, gross		134,596		127,698
Less: accumulated depreciation and amortization		(108,948)		(102,536)
Total	$	25,648	$	25,162

Schedule of Other Current Liabilities


Other current liabilities:	As of December 31,
(in thousands)	2025		2024
Accrued employee compensation and related expenses	$	13,560	$	14,366
Income tax payable		367		11,660
Accrued customer rebates		7,270		5,168
Accrued liabilities for excess and obsolete inventory		8,330		6,473
Other		18,761		17,078
Total	$	48,288	$	54,745

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Contract Assets and Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Accounting Policies [Abstract]
Contract assets	$ 1,959	$ 1,035
Deferred revenue	$ 33,006	$ 16,996

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Schedule of Allowances for Expected Credit Losses and Sales Returns

The following table is a summary of activities in allowances for expected credit losses and sales returns:


(in thousands)	Balance at Beginning of Period		Charges to Revenue		Charges (Credits) to Expense		Deductions from Reserves		Balance at End of Period
Year ended December 31,
2025	$	415	$	727	$	(1)	$	(914)	$	227
2024	$	950	$	203	$	(81)	$	(657)	$	415
2023	$	664	$	887	$	194	$	(795)	$	950

NET INCOME PER SHARE - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential weighted common shares outstanding excluded from diluted net income (loss) per share (in shares)	990	539	276
Employee stock purchase rights under ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential weighted common shares outstanding excluded from diluted net income (loss) per share (in shares)	186	0	0

CERTAIN BALANCE SHEET COMPONENTS - Schedule of Prepaid Expenses and Other Current Assets (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Restricted cash	$ 0.4	$ 0.3

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net Income (Loss)	$ (43,310)	$ 39,217	$ 83,994
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	11,082	12,139	12,255
Asset impairment and related charges	1,637	12,036	0
Impairment of goodwill	57,521	0	0
Stock-based compensation	31,882	28,073	27,329
Foreign currency remeasurement	847	315	1,453
Deferred income taxes, net	8,476	(16,436)	(92,856)
Provision for excess and obsolete inventories	3,270	10,971	7,396
Other	127	569	1,920
Changes in operating assets and liabilities:
Accounts receivable, net	53,908	(38,241)	(32,695)
Inventories	(7,103)	8,374	35,403
Prepaid expenses and other assets	3,302	3,199	25,483
Accounts payable	(5,965)	(3,107)	(29,358)
Deferred revenues	10,220	(2,210)	(20,823)
Other liabilities	(17,928)	7,018	(12,442)
Net cash provided by operating activities	107,966	61,917	7,059
Cash flows from investing activities:
Purchases of investments	0	0	(6,305)
Proceeds from maturities of investments	0	0	6,305
Purchases of property and equipment	(11,080)	(9,186)	(8,475)
Net cash used in investing activities	(11,080)	(9,186)	(8,475)
Cash flows from financing activities:
Proceeds from long-term debt	135,000	115,000	0
Repayment of convertible debt	0	(115,500)	0
Payments for debt issuance costs	0	(332)	(1,025)
Proceeds from other borrowings	3,835	3,943	3,835
Repayment of long-term debt and other borrowings	(142,816)	(5,447)	(4,865)
Repurchase of common stock	(79,027)	(30,047)	0
Proceeds from common stock issued to employees	5,983	6,628	6,558
Taxes paid related to net share settlement of equity awards	(4,365)	(7,514)	(9,493)
Net cash used in financing activities	(81,390)	(33,269)	(4,990)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	7,176	(1,942)	1,089
Net increase (decrease) in cash and cash equivalents and restricted cash	22,672	17,520	(5,317)
Cash and cash equivalents and restricted cash, beginning of the year	101,789	84,269	89,586
Cash and cash equivalents and restricted cash, end of the year	124,461	101,789	84,269
Cash and cash equivalents and restricted cash at end of the year
Cash and cash equivalents	124,105	101,457	84,269
Restricted cash included in other current assets	356	332	0
Total cash, cash equivalents and restricted cash as shown in the consolidated statement of cash flows	124,461	101,789	84,269
Supplemental cash flow disclosure:
Income tax payments, net	12,760	27,308	18,128
Interest payments, net	4,072	6,283	1,626
Supplemental schedule of non-cash investing activities:
Capital expenditures incurred but not yet paid	$ 247	$ 488	$ 618
Supplemental schedule of non-cash financing activities:
Shares of common stock issued upon redemption of convertible debt	0	4,578	0

LEASES (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense are as follows:


		Year Ended December 31,
(in thousands)	2025		2024
Operating lease cost	$	6,812	$	6,943
Variable lease cost		1,228		1,537
Total lease cost	$	8,040	$	8,480

Supplemental cash flow information related to leases are as follows:


		Year Ended December 31,
(in thousands)	2025		2024
Cash paid for operating lease liabilities	$	6,166	$	7,163
Right-of-use assets obtained in exchange for operating lease obligations	$	5,028	$	489

Other information related to leases are as follows:


	Year Ended December 31,
	2025		2024
Operating leases
Weighted-average remaining lease term (years)		4.3		5.0
Weighted-average discount rate		6.6%		6.5%

Schedule of Future Minimum Lease Payments under Non-Cancelable Operating Leases

Future minimum lease payments under non-cancelable operating leases as of December 31, 2025 are as follows (in thousands):


Years ending December 31,
2026	$	6,665
2027		5,632
2028		4,567
2029		3,985
2030		1,851
Thereafter		1,267
Total future minimum lease payments	$	23,967
Less: imputed interest		(2,870)
Total lease liability balance	$	21,097

EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Units Outstanding


(in thousands, except per share amounts)	Number of Shares		Weighted Average Grant-Date Fair Value Per Share
Balance at December 31, 2024		3,447	$	12.95
Granted		3,212		9.42
Vested and issued		(2,354)		12.68
Forfeited		(170)		12.78
Balance at December 31, 2025		4,135	$	10.36

Schedule of Allocation of the Share-Based Compensation Expense

The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s Consolidated Statements of Operations:


		Year Ended December 31,
(in thousands)	2025		2024		2023
Share-based compensation expense included in:
Cost of revenue	$	963	$	506	$	963
Research and development expense		4,751		4,609		3,616
Selling, general and administrative expense		15,929		14,211		11,841
Total	$	21,643	$	19,326	$	16,420

Share-based compensation expense by type of award:
RSUs	$	17,416	$	16,344	$	13,308
PRSUs		39		200		—
MRSUs		3,140		1,646		1,800
Employee stock purchase rights under ESPP		1,048		1,136		1,312
Total	$	21,643	$	19,326	$	16,420

Schedule of Valuation Assumptions for Stock Options

At the date of grant, the Company estimated the fair value of each stock purchase right granted under the ESPP using the following weighted average assumptions:


	Year Ended December 31,
	2025		2024		2023
Expected term (in years)		0.50		0.50		0.50
Volatility		41%		50%		46%
Risk-free interest rate		3.9%		5.3%		5.2%
Expected dividends		0.0%		0.0%		0.0%

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 360,523	$ 488,200	$ 388,482
Appliance and integration
Segment Reporting Information [Line Items]
Total revenue	302,787	433,795	334,029
Product sales
Segment Reporting Information [Line Items]
Total revenue	267,048	410,939	298,559
Professional services
Segment Reporting Information [Line Items]
Total revenue	35,739	22,856	35,470
SaaS and service
Segment Reporting Information [Line Items]
Total revenue	$ 57,736	$ 54,405	$ 54,453

- Definition

+ References

+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ (43,310)	$ 39,217	$ 83,994
Defined benefit plan	211	(330)	25
Foreign currency translation adjustments	6,748	(7,845)	3,806
Other comprehensive income (loss) before tax	6,959	(8,175)	3,831
Provision for (benefit from) income taxes	(502)	216	(149)
Other comprehensive income (loss), net of tax	7,461	(8,391)	3,980
Total comprehensive income (loss)	$ (35,849)	$ 30,826	$ 87,974

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

Disclosure of Disposal Groups

The following table summarizes the carrying values of the assets and liabilities classified as held-for-sale in our consolidated balance sheet as of December 31, 2025:


	As of December 31,
(in thousands)	2025		2024
Assets
Accounts receivable, net	$	38,895	$	34,289
Inventories		23,890		20,944
Prepaids and other current assets		13,207		12,714
Property and equipment, net		1,296		1,661
Goodwill		123,479		176,103
Deferred income taxes, net		8,742		7,122
Other non-current assets		14,452		14,178
Total assets held for sale	$	223,961	$	267,011

Liabilities
Current portion of other borrowings	$	5,605	$	4,941
Accounts payable		8,004		6,932
Deferred revenue		26,577		32,684
Other current liabilities		22,936		17,695
Other long-term borrowings		8,076		8,694
Other non-current liabilities		14,473		16,020
Total liabilities to be disposed of	$	85,671	$	86,966

The operating results of the discontinued operations only reflect revenues and expenses that are directly attributable to the Video business that will be eliminated from continuing operations. The following table presents key components of "Loss from discontinued operations, net of tax" for the years ended December 31, 2025, 2024 and 2023:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Revenue	$	210,317	$	190,522	$	219,425
Cost of revenue		68,614		64,708		85,001
Total gross profit		141,703		125,814		134,424
Operating expenses:
Research and development		46,955		48,401		56,574
Selling, general and administrative		73,969		73,955		85,396
Impairment of goodwill		57,521		—		—
Asset impairment and other charges		—		1,824		—
Restructuring and related charges		422		13,232		311
Total operating expenses		178,867		137,412		142,281
Loss from discontinued operations		(37,164)		(11,598)		(7,857)
Interest expense, net		(699)		(861)		(669)
Other income (expense), net		1,116		(1,144)		(178)
Loss from discontinued operations before income taxes		(36,747)		(13,603)		(8,704)
Provision for (benefit from) income taxes		7,779		(2,102)		(4,360)
Loss from discontinued operations, net of tax	$	(44,526)	$	(11,501)	$	(4,344)

Cash flows related to discontinued operations have not been segregated and are included in the Consolidated Statements of Cash Flows for all periods presented. The following table provides selected financial information related to cash flows from discontinued operations:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Cash provided by operating activities	$	2,532	$	2,778	$	1,754
Cash used in investing activities		(801)		(1,775)		(718)
Cash used in financing activities	$	(1,731)	$	(1,003)	$	(1,036)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION - Schedule of Property and Equipment, Net by Geographic Region (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Segment Reporting Information [Line Items]
Property and equipment, net	$ 25,648	$ 25,162
United States
Segment Reporting Information [Line Items]
Property and equipment, net	14,817	15,476
Israel
Segment Reporting Information [Line Items]
Property and equipment, net	5,926	7,257
France
Segment Reporting Information [Line Items]
Property and equipment, net	4,656	2,182
Other countries
Segment Reporting Information [Line Items]
Property and equipment, net	$ 249	$ 247

ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

ACCOUNTS RECEIVABLE

NOTE 6: ACCOUNTS RECEIVABLE

Trade accounts receivable are recorded at invoiced amounts and do not bear interest. The Company generally does not require collateral and performs ongoing credit evaluations of its customers and provides for expected losses. The Company maintains an allowance for expected credit losses based upon the expected collectability of its accounts receivable. The expectation of collectability is based on the Company’s review of credit profiles of customers, contractual terms and conditions, current economic trends and historical payment experience. The Company offers return rights which are specifically identified and accrued for as sales returns at the end of the period.

The following table is a summary of activities in allowances for expected credit losses and sales returns:


(in thousands)	Balance at Beginning of Period		Charges to Revenue		Charges (Credits) to Expense		Deductions from Reserves		Balance at End of Period
Year ended December 31,
2025	$	415	$	727	$	(1)	$	(914)	$	227
2024	$	950	$	203	$	(81)	$	(657)	$	415
2023	$	664	$	887	$	194	$	(795)	$	950

INCOME TAXES - Schedule of Income Before Income Tax Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic	$ (4,780)	$ 63,403	$ 19,942
Foreign	13,641	8,133	7,903
Income before income taxes	$ 8,861	$ 71,536	$ 27,845

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

DISCONTINUED OPERATIONS - Summary of Financial Information Related to Cash Flows from Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash Provided by (Used in) Discontinued Operation [Abstract]
Cash provided by operating activities	$ 2,532	$ 2,778	$ 1,754
Cash used in investing activities	(801)	(1,775)	(718)
Cash used in financing activities	$ (1,731)	$ (1,003)	$ (1,036)

DISCONTINUED OPERATIONS - Summary of Loss from Discontinued Operations, Net of Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Revenue	$ 210,317	$ 190,522	$ 219,425
Cost of revenue	68,614	64,708	85,001
Total gross profit	141,703	125,814	134,424
Operating expenses:
Research and development	46,955	48,401	56,574
Selling, general and administrative	73,969	73,955	85,396
Impairment of goodwill	57,521	0	0
Asset impairment and other charges	0	1,824	0
Restructuring and related charges	422	13,232	311
Total operating expenses	178,867	137,412	142,281
Loss from discontinued operations	(37,164)	(11,598)	(7,857)
Interest expense, net	(699)	(861)	(669)
Other income (expense), net	1,116	(1,144)	(178)
Loss from discontinued operations before income taxes	(36,747)	(13,603)	(8,704)
Provision for (benefit from) income taxes	7,779	(2,102)	(4,360)
Loss from discontinued operations, net of tax	$ (44,526)	$ (11,501)	$ (4,344)

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Allowances for credit losses	$ 227	$ 415
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Prefered stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares Issued (in shares)	111,186,000	116,735,000
Common stock, shares outstanding (in shares)	111,186,000	116,735,000

CERTAIN BALANCE SHEET COMPONENTS

12 Months Ended

Dec. 31, 2025

Balance Sheet Related Disclosures [Abstract]

CERTAIN BALANCE SHEET COMPONENTS

NOTE 7: CERTAIN BALANCE SHEET COMPONENTS


Inventories:	As of December 31,
(in thousands)	2025		2024
Finished goods	$	32,430	$	27,456
Raw materials		8,452		11,156
Work-in-process		4,393		2,348
Service-related spares		2,565		2,100
Total	$	47,840	$	43,060


Prepaid expenses and other current assets:	As of December 31,
(in thousands)	2025		2024
Prepaid expenses	$	7,107	$	3,939
Contract assets		1,959		1,035
Other current assets (1)		3,464		4,914
Total	$	12,530	$	9,888

(1) Balance as of December 31, 2025 and 2024 included restricted cash of $0.4 million and $0.3 million, respectively.


Property and equipment, net:	As of December 31,
(in thousands)	2025		2024
Machinery and equipment	$	76,971	$	72,302
Capitalized software		27,163		26,564
Leasehold improvements		25,336		25,588
Furniture and fixtures		2,569		2,443
Construction-in-progress		2,557		801
Property and equipment, gross		134,596		127,698
Less: accumulated depreciation and amortization		(108,948)		(102,536)
Total	$	25,648	$	25,162

During the year ended December 31, 2025 and 2024, the Company recorded lease improvement impairment charges of $0.3 million and $4.3 million, respectively. Refer to Note 4, “Leases” for more details.


Other current liabilities:	As of December 31,
(in thousands)	2025		2024
Accrued employee compensation and related expenses	$	13,560	$	14,366
Income tax payable		367		11,660
Accrued customer rebates		7,270		5,168
Accrued liabilities for excess and obsolete inventory		8,330		6,473
Other		18,761		17,078
Total	$	48,288	$	54,745

SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2025

Subsequent Events [Abstract]

SUBSEQUENT EVENT

NOTE 16: SUBSEQUENT EVENT

Subsequent to December 31, 2025, and through February 24, 2026, the Company used cash on hand to repay $30.0 million in outstanding loans under the Revolving Facility. As of February 24, 2026, $45.0 million in borrowings remained outstanding, and the Company had $112.0 million available to borrow under the Revolving Facility.

Subsequent to December 31, 2025 and through February 24, 2026, the Company repurchased approximately 2.5 million shares of the Company’s common stock for an aggregate amount of $25.9 million pursuant to a 10b5-1 trading plan and open market purchases.

DESCRIPTION OF BUSINESS

12 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS

NOTE 1: DESCRIPTION OF BUSINESS

Harmonic Inc. (“Harmonic” or the “Company”) is a leading global provider of broadband access solutions and related services, including cOS software-based broadband access solutions, which enable broadband operators to more efficiently and effectively deploy high-speed internet, for data, voice and video services for their customers.

Historically, the Company had been managed and operated under two reportable segments: Broadband and Video. On December 8, 2025, the Company entered into a Put Option Agreement to sell its Video business to Leone Media Inc. (d/b/a MediaKind) (the “Buyer”). Under the Put Option Agreement, the Buyer has irrevocably provided the Company with the right to require the Buyer to purchase the Company's Video business for a purchase price of $145 million in cash (the "Disposition"). The purchase price is subject to a potential adjustment based on the amount, on the date the Disposition is consummated, of net working capital of the Video business, the cash and debt of the entities to be sold in the Disposition, as well as the amount of specified selling expenses.

In accordance with the authoritative guidance for discontinued operations (Accounting Standards Codification (ASC) 205-20), the Company determined that the Disposition of the Video business met held-for-sale and discontinued operations accounting criteria upon execution of the Put Option Agreement. Accordingly, the Company classified the results of the Video Business as discontinued operations in its consolidated statements of operations for all periods presented. Additionally, the related assets and liabilities associated with the Video Business were classified as held-for-sale in the consolidated balance sheet as of December 31, 2025. Refer Note 3 — Discontinued Operations for additional information.

SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands		2 Months Ended	12 Months Ended
SUBSEQUENT EVENT (Details) - USD ($) $ in Thousands	Feb. 24, 2026	Feb. 24, 2026	Dec. 31, 2025	Dec. 31, 2024
Subsequent Event [Line Items]
Long-term debt			$ 112,084	$ 114,278
Number of shares repurchased			8,100,000
Common Stock
Subsequent Event [Line Items]
Number of shares repurchased			8,114,000	2,409,000
Revolving Credit Facility \| Credit Agreement \| Line Of Credit
Subsequent Event [Line Items]
Long-term debt			$ 75,000
Line of credit facility, remaining borrowing capacity			$ 82,000
Subsequent Event \| Common Stock
Subsequent Event [Line Items]
Number of shares repurchased	2,500,000
Aggregate amount of shares repurchased	$ 25,900
Subsequent Event \| Revolving Credit Facility \| Credit Agreement \| Line Of Credit
Subsequent Event [Line Items]
Repayments Of Lines Of Credit		$ 30,000
Long-term debt	45,000	45,000
Line of credit facility, remaining borrowing capacity	$ 112,000	$ 112,000

INCOME TAXES

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 11: INCOME TAXES


Income (loss) before income tax:	Year Ended December 31,
(in thousands)	2025		2024		2023
Domestic	$	(4,780)	$	63,403	$	19,942
Foreign		13,641		8,133		7,903
Income before income taxes	$	8,861	$	71,536	$	27,845


Provision for (benefit from) income taxes:	Year Ended December 31,
(in thousands)	2025		2024		2023
Current:
Federal	$	1,221	$	27,600	$	16,618
State		358		6,317		3,766
Foreign		2,884		2,402		1,794
Deferred:
Federal		3,514		(16,743)		(77,450)
State		628		(790)		(6,181)
Foreign		(960)		2,032		960
Total provision for (benefit from) income taxes	$	7,645	$	20,818	$	(60,493)

As described in Note 2, "Summary of Significant Accounting Policies", the Company has elected to prospectively adopt the guidance in ASU 2023-09. The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company's effective rate for the year ended December 31, 2025 in accordance with guidance in ASU 2023-09.


	Year Ended December 31, 2025
(in thousands)	$		%
Provision for income taxes at U.S. federal statutory rate	$	1,861		21%
State and local income taxes, net of federal benefit (1)		956		11%
Foreign tax effects
Argentina
Withholding tax		330		4%
Colombia
Withholding tax		212		2%
El Salvador
Withholding tax		198		2%
Israel
Share-based compensation		(311)		(4)%
Foreign exchange gain/loss		(770)		(9)%
Other		(193)		(2)%
Peru
Withholding tax		209		2%
Switzerland
Valuation allowance		(464)		(5)%
Withholding tax deduction		(245)		(3)%
Other		(275)		(3)%
Other foreign jurisdictions		367		4%
Effect of changes in tax laws or rates enacted in the current period
Effect of cross-border tax laws:
Global intangible low-taxed income		2,084		24%
Branch income inclusion		588		7%
Other		(212)		(2)%
Tax credits:
Foreign tax credits		(986)		(11)%
Research and development credits		(268)		(3)%
Valuation allowance
Non-taxable or non-deductible items:
Share-based compensation		1,529		17%
Impairment loss		1,013		11%
Other		503		6%
Uncertain tax positions		1,467		17%
Adjustment to prior period provision
Other adjustments		52		1%
Total tax provision and effective tax rate	$	7,645		86%

(1) State taxes in New Jersey, Tennessee, and Utah made up the majority (greater than 50%) of the tax effect in this category.

The company's effective tax rate of 86% for the year ended December 31, 2025 was due primarily to tax expense related to the method change for capitalization of research and development expenses under Section 174 of the Internal Revenue Code, which reduced our Internal Revenue Code Section 250 tax benefits, and the geographical mix of income and losses.

The difference between the tax provision at the statutory federal income tax rate and the provision for (benefit from) income tax as a percentage of income (loss) before income taxes (effective tax rate) for the years ended December 31, 2024 and 2023 in accordance with guidance prior to the adoption of ASU 2023-09 was as follows:


	Year Ended December 31,
	2024		2023
Statutory U.S. federal income tax rate		21%		21%
Increase (reduction) in rate resulting from:
State Taxes		4%		—%
Differential in rates on foreign earnings		2%		(6)%
Change in valuation allowance		—%		(243)%
Non-deductible stock-based compensation		2%		5%
Permanent differences		(1)%		—%
Adjustments related to tax positions taken during prior years		2%		8%
Research and development credits		(1)%		(2)%
Effective tax rate		29%		(217)%

The Company’s effective tax rate of 29% for the year ended December 31, 2024 was due primarily to tax expense related to the geographical mix of income and losses and the resulting income and withholding taxes from operations in the foreign tax jurisdictions, offset by federal tax credits.

The Company’s effective tax rate of (217)% for the year ended December 31, 2023 was due primarily to tax benefit related to the release of the valuation allowance against U.S. Federal and certain state deferred tax assets due to improved historical earnings and projected earnings.

The Company operates in multiple jurisdictions and its profits are taxed pursuant to the tax laws of these jurisdictions. The Company’s effective income tax rate differs from the U.S. federal statutory rate primarily due to geographical mix of income and losses, non-deductible stock-based compensation, and the resulting income and withholding taxes from operations in the foreign tax jurisdictions. The Company’s effective income tax rate may be affected by changes in its interpretations of tax laws and tax agreements in any given jurisdiction, changes in geographical mix of income and expense, and changes in management's assessment of matters such as the ability to realize deferred tax assets, as well as one-time discrete items.

The components of deferred taxes are as follows:


	As of December 31,
(in thousands)		2025		2024
Deferred tax assets:
Reserves and accruals	$	21,336	$	22,100
Net operating loss carryforwards		19,203		3,327
Research and development credit carryforwards		30,630		30,350
Deferred stock-based compensation		1,176		2,341
Intangibles		3,695		4,385
Operating lease liabilities		3,377		3,841
Capitalized research and development expenses		56,181		83,054
Other		5,249		3,219
Gross deferred tax assets		140,847		152,617
Valuation allowance		(32,992)		(33,397)
Gross deferred tax assets after valuation allowance		107,855		119,220
Deferred tax liabilities:
Depreciation		(1,952)		(3,127)
Operating lease right-of-use assets		(1,860)		(2,187)
Gross deferred tax liabilities		(3,812)		(5,314)
Net deferred tax assets	$	104,043	$	113,906

The following table summarizes the activities related to the Company’s valuation allowance:


		Year Ended December 31,
(in thousands)		2025		2024		2023
Balance at beginning of period	$	33,397	$	32,869	$	97,315
Additions		—		528		31
Deductions		(405)		—		(64,477)
Balance at end of period	$	32,992	$	33,397	$	32,869

The Company's valuation allowance as of December 31, 2025, was lower compared to 2024, primarily due to a release of valuation allowance on the net operating loss (“NOL”) for Switzerland, partially offset by an increase related to newly generated California R&D credits.

Management regularly assesses the ability to realize deferred tax assets recorded based upon the weight of available evidence, including such factors as recent earnings history and expected future taxable income on a jurisdiction-by-jurisdiction basis. In 2023, the Company determined that deferred tax assets in the U.S federal and certain state jurisdictions would be realizable and released the valuation allowance against those assets accordingly. In the event that the Company changes its determination as to the amount of realizable deferred tax assets, the Company will adjust its valuation allowance with a corresponding impact to the provision for income taxes in the period in which such determination is made.

As of December 31, 2025, the Company had $70 million, $6.3 million, and $24.9 million, of federal, foreign, and U.S. state NOL carryforwards, respectively. The federal NOLs will carryforward indefinitely. Certain foreign NOLs expire beginning in 2026, if not utilized, while the majority of the foreign NOLs carryforward indefinitely. Certain U.S states NOLs carryforward expires at various dates beginning in 2030 if not utilized.

As of December 31, 2025, the Company had U.S. federal and California state tax credit carryforwards of approximate $4.9 million and $37.1 million, respectively. If not utilized, the U.S. federal tax credit carryforwards will begin to expire in 2031, while the California tax credit carryforward will not expire.

In the event the Company experiences an ownership change within the meaning of Section 382 of the Internal Revenue Code (“IRC”), the Company’s ability to utilize U.S. net operating losses, tax credits and other tax attributes may be limited.

The Company has not provided U.S. state income taxes and foreign withholding taxes, on the cumulative earnings for certain non-U.S. subsidiaries, because such earnings are intended to be indefinitely reinvested. Determination of the amount of unrecognized deferred tax liability for temporary differences related to investments in these non-U.S. subsidiaries that are essentially permanent in duration is not practicable.

The Company applies the provisions of the applicable accounting guidance regarding accounting for uncertainty in income taxes, which require application of a more-likely-than-not threshold to the recognition and derecognition of uncertain tax positions. If the recognition threshold is met, the applicable accounting guidance permits the recognition of a tax benefit measured at the largest amount of such tax benefit that, in the Company’s judgment, is more than fifty percent likely to be realized upon settlement. It further requires that a change in judgment related to the expected ultimate resolution of uncertain tax positions to be recognized in earnings in the period in which such determination is made. The Company will continue to review its tax positions and provide for, or reverse, unrecognized tax benefits as issues arise. As of December 31, 2025, the Company had $13.8 million of unrecognized future tax benefits, including interest and penalties. Of these, $5.6 million would favorably impact the effective tax rate in future periods if recognized, and $8.2 million will have no or minimal impact on the effective tax rate in future periods if recognized due to a valuation allowance on such unrecognized tax benefits.

The following table summarizes the activities related to the Company’s gross unrecognized tax benefits:


		Year Ended December 31,
(in millions)		2025		2024		2023
Balance at beginning of period	$	12.0	$	12.5	$	11.1
Increase in balance related to tax positions taken during current year		0.1		0.2		0.4
Increase in balance related to tax positions taken during prior years		1.2		0.3		1.0
Decrease in balance related to tax positions taken during prior years		(0.2)		(1.0)		—
Balance at end of period	$	13.1	$	12.0	$	12.5

The Company recognizes interest and penalties related to unrecognized tax positions in income tax expenses on the Consolidated Statements of Operations. The net interest and penalties charges recorded for the years ended December 31, 2023 through 2025, were not material.

The 2022 through 2024 tax years generally remain subject to examination by U.S. federal and most state tax authorities. Net operating losses generated on a tax return basis by the Company for the 2015 to 2020 tax years and research and development credits for 2011 to 2024 tax years remain open to examination. In addition, the Company remains subject to income tax examination for several other jurisdictions, including in Switzerland for years after 2019, Israel for years after 2019, and France for years after 2023.

During the year ended December 31, 2025, the Company paid $10.5 million in federal income taxes. The amounts paid in state and foreign income taxes, net of refunds received, were $1.6 million and $0.6 million, respectively for the same period.

- Definition

The entire disclosure for income tax.

+ References

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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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+ Details

CERTAIN BALANCE SHEET COMPONENTS - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Thousands

Dec. 31, 2025

Dec. 31, 2024

Balance Sheet Related Disclosures [Abstract]

Prepaid expenses

$ 7,107

$ 3,939

Contract assets

1,959

1,035

Other current assets

^[1]

3,464

4,914

Total

$ 12,530

$ 9,888

[1]	Balance as of December 31, 2025 and 2024 included restricted cash of $0.4 million and $0.3 million, respectively.

LEASES

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

LEASES

NOTE 4. LEASES

The components of lease expense are as follows:


		Year Ended December 31,
(in thousands)	2025		2024
Operating lease cost	$	6,812	$	6,943
Variable lease cost		1,228		1,537
Total lease cost	$	8,040	$	8,480

Supplemental cash flow information related to leases are as follows:


		Year Ended December 31,
(in thousands)	2025		2024
Cash paid for operating lease liabilities	$	6,166	$	7,163
Right-of-use assets obtained in exchange for operating lease obligations	$	5,028	$	489

During the year ended December 31, 2025, we recorded lease-related impairment and other charges of $1.6 million, which consisted of $0.4 million in right-of-use asset impairments, $0.3 million in leasehold improvement impairments, and $0.9 million related to the fair value of other unrecoverable facility costs.

During the year ended December 31, 2024, we recorded lease-related impairment and other charges of $10.9 million, which consisted of $3.9 million in right-of-use asset impairments, $4.3 million in leasehold improvement impairments, and $2.7 million related to the fair value of other unrecoverable facility costs.

For asset groups where impairment was triggered, the Company utilized an income approach to value the asset groups by developing discounted cash flow models. The assumptions used in the discounted cash flow models for each of the asset groups included projected sublease income over the remaining lease terms, expected downtime prior to the commencement of future subleases, expected lease incentives offered to future tenants, and discount rates that reflected the level of risk associated with these future cash flows.

Other information related to leases are as follows:


	Year Ended December 31,
	2025		2024
Operating leases
Weighted-average remaining lease term (years)		4.3		5.0
Weighted-average discount rate		6.6%		6.5%

Future minimum lease payments under non-cancelable operating leases as of December 31, 2025 are as follows (in thousands):


Years ending December 31,
2026	$	6,665
2027		5,632
2028		4,567
2029		3,985
2030		1,851
Thereafter		1,267
Total future minimum lease payments	$	23,967
Less: imputed interest		(2,870)
Total lease liability balance	$	21,097

INCOME TAXES - Schedule of Reconciliation of Provision for (Benefit from) Income Taxes (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Provision for income taxes at U.S. federal statutory rate	21.00%	21.00%	21.00%

FAIR VALUE MEASUREMENTS - Schedule of Financial Instruments Not Measured on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 112,084	$ 114,278
Level 1 \| Fair Value Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	0	0
Level 2 \| Fair Value Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	112,084	114,278
Level 3 \| Fair Value Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long term debt, fair value	$ 0	$ 0

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

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+ Details

- Definition

The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.

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+ Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 5: FAIR VALUE MEASUREMENTS

The applicable accounting guidance establishes a framework for measuring fair value and requires disclosure about the fair value measurements of assets and liabilities. This guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability, in the principal or most advantageous market for the asset or liability, in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. This guidance requires the Company to classify and disclose assets and liabilities measured at fair value on a recurring basis, as well as fair value measurements of assets and liabilities measured on a nonrecurring basis in periods subsequent to initial measurement, in a three-tier fair value hierarchy as follows:

•

Level 1 - Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

•

Level 2 - Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

•

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The carrying value of the Company’s financial instruments, including cash equivalents, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their short maturities.

The following table sets forth the fair value of the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy:


	December 31, 2025								December 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	25,322	$	—	$	—	$	25,322	$	10,000	$	—	$	—	$	10,000

The Company's financial instruments not measured at fair value on a recurring basis were as follows:


	December 31, 2025								December 31, 2024
	Carrying		Fair Value						Carrying		Fair Value
(in thousands)	Value		Level 1		Level 2		Level 3		Value		Level 1		Level 2		Level 3
Long-term debt	$	112,084	$	—	$	112,084	$	—	$	114,278	$	—	$	114,278	$	—

The carrying values of the amounts outstanding under the Credit Agreement approximate fair value because its variable interest rates are tied to market rates and the applicable credit spreads represent current market rates for the credit risk profile of the Company.

During the years ended December 31, 2025, 2024, and 2023, there were no nonrecurring fair value measurements of assets and liabilities subsequent to initial recognition.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Net Capitalized Contract Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Capitalized Contract Cost [Line Items]
Total net capitalized contract costs	$ 2,144	$ 1,112
Prepaid expenses and other current assets
Capitalized Contract Cost [Line Items]
Total net capitalized contract costs	1,139	560
Other non-current assets
Capitalized Contract Cost [Line Items]
Total net capitalized contract costs	$ 1,005	$ 552

INCOME TAXES - Schedule of Activities Related to Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Deferred Tax Assets, Net of Valuation Allowance [Abstract]
Balance at beginning of period	$ 33,397	$ 32,869	$ 97,315
Additions	0	528	31
Deductions	(405)	0	(64,477)
Balance at end of period	$ 32,992	$ 33,397	$ 32,869

DEBT

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

DEBT

NOTE 8: DEBT

Revolving and Term Facilities

In December 2023, the Company entered into a five-year Credit Agreement (the “Credit Agreement”), by and among the Company, certain subsidiaries of the Company from time to time party thereto, the lenders from time to time party thereto, and Citibank N.A., as administrative agent for the lenders. As amended in December 2024, the Credit Agreement provides for a secured revolving credit facility in an aggregate principal amount of up to $160.0 million (“the Revolving Facility”), with a $10.0 million sublimit for the issuance of letters of credit, and a secured delayed draw term loan facility in an aggregate principal amount of up to $40.0 million (the “Term Facility”). The Revolving Facility and the Term Facility both mature on December 21, 2028. The proceeds of the loans under the Revolving Facility may be used for general corporate purposes. The proceeds of the loans under the Term Facility were required to be used to repurchase, redeem, acquire or otherwise settle the 2024 Notes. In April 2024, the Company borrowed all $40.0 million under the Term Facility in connection with settling conversions of the 2024 Notes. The Credit Agreement also includes an uncommitted accordion feature whereby the Company may increase the Revolving Facility and/or establish one or more new term loan facilities by an aggregate amount not to exceed $100.0 million during the term of the Credit Agreement, subject to certain conditions, including lender consent. In December 2024, the Company amended the Credit Agreement, increasing the revolving credit commitments in an aggregate principal amount of up to $40.0 million. As a result of the additional commitments, the Credit Agreement now provides for loans in an aggregate principal amount of up to $200.0 million, consisting of a $160.0 million revolving credit facility and a $40.0 million term loan facility.

Loans under the Revolving Facility and Term Facility bear interest, at a floating rate per annum equal to an adjusted Term Secured Overnight Financing Rate (“SOFR”) (based on one-, three- or six-month interest periods), plus a SOFR premium fee of 0.1% and an applicable margin of between 2.00% to 2.75%, determined based on the Company’s consolidated net leverage ratio. Unused commitments under the Revolving Facility are subject to a quarterly fee ranging from 0.25% to 0.35%, determined based on the Company’s consolidated net leverage ratio.

The Credit Agreement contains customary affirmative and negative covenants. The Company is also required to maintain compliance with a maximum consolidated net leverage ratio and a minimum fixed charge coverage ratio, in each case, determined in accordance with the terms of the Credit Agreement. As of December 31, 2025, the Company was in compliance with the covenants under the Credit Agreement.

Repayment of the principal amount of the term loans began on December 31, 2024, in quarterly installments equal to 1.25% of the initial borrowing of $40.0 million under the Term Loan Facility, increasing to 1.875% beginning December 31, 2025, and to 2.50% beginning December 31, 2027. As of December 31, 2025, the Company had repaid $2.8 million of these installments, and $3.0 million were due in twelve months and therefore classified as current portion of long-term debt on the consolidated balance sheet. As of December 31, 2025, the Company had outstanding borrowings of $37.3 million under the Term Facility, $75.0 million under the Revolving Facility, $3.0 million of letters of credit issued, and $82.0 million of remaining capacity under the Revolving Facility. The carrying value of the borrowings under the Credit Agreement approximates their fair value because they bear interest at a market rate.

For the fiscal years ended December 31, 2025 and 2024, the Company incurred interest expenses of $6.3 million and $5.1 million, respectively, on these borrowings.

2.00% Convertible Senior Notes due 2024 (the “2024 Notes”)

In September 2019, the Company issued $115.5 million of the 2024 Notes pursuant to an indenture (the “2024 Notes Indenture”), dated September 13, 2019, by and between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as trustee. The 2024 Notes would have matured on September 1, 2024, unless earlier repurchased by the Company, redeemed by the Company or converted pursuant to their terms.

In April 2024, the Company settled the conversion of the entire $115.5 million in aggregate principal amount of the 2024 Notes. In accordance with the provisions of the 2024 Notes Indenture, the Company settled such conversions of the 2024 Notes by paying and delivering, as applicable, a combination of $115.5 million in cash and 4.6 million shares of the Company’s common stock.

The following table presents interest expense recognized for the 2024 Notes:


		Year Ended December 31,
(in thousands)	2025		2024		2023
Contractual interest expense	$	—	$	912	$	2,312
Amortization of debt issuance costs		—		282		898
Total interest expense recognized	$	—	$	1,194	$	3,210

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION

NOTE 13: SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION

Segment Information

Historically, the Company had been managed and operated under two reportable segments: Broadband and Video. As a result of the separation and disposition (as defined in Note 3, Discontinued Operations) of the Video segment, the Company’s continuing operations now consist of a single reportable segment, Broadband. The Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”), now evaluates the performance of the Company and makes decisions regarding the allocation of resources based on the Company’s consolidated results. Our CODM does not evaluate operating results using asset or liability information.

The following table is a reconciliation of the Company's measure of segment profit or loss, significant segment expenses and other segment items:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Total net revenue	$	360,523	$	488,200	$	388,482
Less significant expenses and other segment items:
Cost of revenue		184,817		247,588		209,384
Research and development expense		71,575		68,115		66,092
Selling, general and administrative		65,458		64,808		66,435
Segment operating income		38,673		107,689		46,571
Stock-based compensation		(21,641)		(19,325)		(16,419)
Restructuring and related charges		(1,315)		(2,741)		(123)
Asset impairment and related charges		(1,637)		(10,889)		—
Segment income from operations		14,080		74,734		30,029
Non-operating expense, net		(5,219)		(3,198)		(2,184)
Income from continuing operations before income taxes	$	8,861	$	71,536	$	27,845

Together with stock-based compensation, the Company does not allocate restructuring and related charges, lease-related and other charges, asset impairment charges and other non-recurring expenses to the operating income of its reportable segment because management does not include this information in the measurement of the performance of the operating segment.

Disaggregation of Revenue

The following table provides a summary of total revenues disaggregated by type:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Product sales	$	267,048	$	410,939	$	298,559
Professional services		35,739		22,856		35,470
Total Appliance and integration		302,787		433,795		334,029
Total SaaS and service		57,736		54,405		54,453
Total revenue	$	360,523	$	488,200	$	388,482

The following table provides a summary of total net revenues by geographic region:


Net revenue:	Year Ended December 31,
(in thousands)	2025		2024		2023
United States (1)	$	277,049	$	421,679	$	307,614
Other countries (1)		83,474		66,521		80,868
Total	$	360,523	$	488,200	$	388,482

Americas	$	320,570	$	449,346	$	335,154
EMEA		33,894		36,420		50,994
APAC		6,059		2,434		2,334
Total	$	360,523	$	488,200	$	388,482

(1) Revenue is attributed to countries based on the location of the customer.

No single country other than the United States, accounted for 10% or more of the Company’s net revenues for the years ended December 31, 2025, 2024 and 2023.


Property and equipment, net:	As of December 31,
(in thousands)	2025		2024
United States	$	14,817	$	15,476
Israel		5,926		7,257
France		4,656		2,182
Other countries		249		247
Total	$	25,648	$	25,162

Customer Concentration


Net revenue:	Year Ended December 31,
(in thousands)	2025		2024		2023
Top 2 customers (2)	$	221,787	$	393,234	$	284,178
Rest-of-world		138,736		94,966		104,304
Total	$	360,523	$	488,200	$	388,482

(2) Based on largest subscriber footprint

One customer accounted for 54% of the Company’s total net revenues during the years ended December 31, 2025. Two customers accounted for 57% and 24% of the Company’s total net revenues during the year ended December 31, 2024, respectively. One customer accounted for 64% of the Company’s total net revenues during the years ended December 31, 2023.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Topic 280
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+ Details

LEGAL PROCEEDINGS

12 Months Ended

Dec. 31, 2025

Financial Support for Nonconsolidated Legal Entity [Abstract]

LEGAL PROCEEDINGS

NOTE 15: LEGAL PROCEEDINGS

From time to time, the Company is involved in lawsuits and is subject to various legal proceedings, claims, threatened litigation, and investigations in the ordinary course of business, including claims of alleged infringement of third-party patents and other intellectual property rights, commercial, employment, and other matters. The Company assesses potential liabilities in connection with each lawsuit and threatened lawsuits and accrues an estimated loss for these loss contingencies if both of the following conditions are met: (i) information available prior to issuance of the financial statements indicates that it is probable that a liability has been incurred at the date of the financial statements and (ii) the amount of loss can be reasonably estimated. While certain matters to which the Company is a party specify the damages claimed, such claims may not represent reasonably probable losses. Given the inherent uncertainties of litigation, the ultimate outcome of these matters cannot be predicted at this time, nor can the amount of possible loss or range of loss, if any, be reasonably estimated.

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Lease related impairment and other charges	$ 1.6	$ 10.9
Right-of-use asset impairment	0.4	3.9
Leasehold improvement impairment charge	0.3	4.3
Fair value of other unrecoverable facility costs	$ 0.9	$ 2.7

EMPLOYEE BENEFIT PLANS - Schedule of Valuation Assumptions for Stock Options (Details) - Employee stock purchase rights under ESPP	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term (in years)	6 months	6 months	6 months
Volatility	41.00%	50.00%	46.00%
Risk-free interest rate	3.90%	5.30%	5.20%
Expected dividends	0.00%	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

EMPLOYEE BENEFIT PLANS - Schedule of Restricted Stock Units Outstanding (Details) - RSUs shares in Thousands	12 Months Ended
	Dec. 31, 2025 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares) \| shares	3,447
Granted (in shares) \| shares	3,212
Vested and issued (in shares) \| shares	(2,354)
Forfeited (in shares) \| shares	(170)
Ending balance (in shares) \| shares	4,135
Weighted Average Grant-Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares	$ 12.95
Weighted average fair value (in dollars per share) \| $ / shares	9.42
Vested and issued (in dollars per share) \| $ / shares	12.68
Forfeited (in dollars per share) \| $ / shares	12.78
Ending balance (in dollars per share) \| $ / shares	$ 10.36

INCOME TAXES - Schedule of Reconciliation of Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Provision for income taxes at U.S. federal statutory rate	$ 1,861
State and local income taxes, net of federal benefit	956
Global intangible low-taxed income	2,084
Branch income inclusion	588
Effect of cross-border tax laws ,Other	(212)
Foreign tax credits	(986)
Impairment loss	1,013
Non-taxable or non-deductible items , Other	503
Uncertain tax positions	1,467
Total provision for (benefit from) income taxes	$ 7,645	$ 20,818	$ (60,493)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Provision for income taxes at U.S. federal statutory rate	21.00%	21.00%	21.00%
State and local income taxes, net of federal benefit	11.00%	4.00%	0.00%
Foreign tax effects, Withholding tax		2.00%	(6.00%)
Change in valuation allowance		0.00%	(243.00%)
Share-based compensation		2.00%	5.00%
Impairment loss	11.00%
Non-taxable or non-deductible items , other	6.00%	(1.00%)	0.00%
Global intangible low-taxed income	24.00%
Branch income inclusion	7.00%
Effect of cross-border tax laws, other	(2.00%)
Foreign tax credits	(11.00%)
Research and development credits		(1.00%)	(2.00%)
Uncertain tax positions	17.00%
Adjustment to prior period provision		2.00%	8.00%
Effective tax rate	86.00%	29.00%	(217.00%)
Argentina
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Foreign tax effects, withholding tax	$ 330
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Foreign tax effects, Withholding tax	4.00%
Colombia
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Foreign tax effects, withholding tax	$ 212
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Foreign tax effects, Withholding tax	2.00%
El Salvador
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Foreign tax effects, withholding tax	$ 198
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Foreign tax effects, Withholding tax	2.00%
Israel
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Share-based compensation	$ (311)
Foreign exchange gain/loss	(770)
Other adjustments	$ (193)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Share-based compensation	(4.00%)
Foreign exchange gain/loss	(9.00%)
Other adjustments	(2.00%)
PERU
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Foreign tax effects, withholding tax	$ 209
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Foreign tax effects, Withholding tax	2.00%
Switzerland
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Withholding tax deduction	$ (245)
Valuation allowance	(464)
Other adjustments	$ (275)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Withholding tax deduction	(3.00%)
Change in valuation allowance	(5.00%)
Other adjustments	(3.00%)
Other foreign jurisdictions
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Foreign tax effects, withholding tax	$ 367
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Foreign tax effects, Withholding tax	4.00%
US
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
Share-based compensation	$ 1,529
Other adjustments	52
Research and development credits	$ (268)
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Share-based compensation	17.00%
Research and development credits	(3.00%)
Other adjustments	1.00%

CERTAIN BALANCE SHEET COMPONENTS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Leasehold improvement impairment charge	$ 0.3	$ 4.3

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Financial Information by Reportable Segments

The following table is a reconciliation of the Company's measure of segment profit or loss, significant segment expenses and other segment items:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Total net revenue	$	360,523	$	488,200	$	388,482
Less significant expenses and other segment items:
Cost of revenue		184,817		247,588		209,384
Research and development expense		71,575		68,115		66,092
Selling, general and administrative		65,458		64,808		66,435
Segment operating income		38,673		107,689		46,571
Stock-based compensation		(21,641)		(19,325)		(16,419)
Restructuring and related charges		(1,315)		(2,741)		(123)
Asset impairment and related charges		(1,637)		(10,889)		—
Segment income from operations		14,080		74,734		30,029
Non-operating expense, net		(5,219)		(3,198)		(2,184)
Income from continuing operations before income taxes	$	8,861	$	71,536	$	27,845

Schedule of Disaggregation of Revenue

The following table provides a summary of total revenues disaggregated by type:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Product sales	$	267,048	$	410,939	$	298,559
Professional services		35,739		22,856		35,470
Total Appliance and integration		302,787		433,795		334,029
Total SaaS and service		57,736		54,405		54,453
Total revenue	$	360,523	$	488,200	$	388,482

Schedule of Total Revenues by Geographic Region

The following table provides a summary of total net revenues by geographic region:


Net revenue:	Year Ended December 31,
(in thousands)	2025		2024		2023
United States (1)	$	277,049	$	421,679	$	307,614
Other countries (1)		83,474		66,521		80,868
Total	$	360,523	$	488,200	$	388,482

Americas	$	320,570	$	449,346	$	335,154
EMEA		33,894		36,420		50,994
APAC		6,059		2,434		2,334
Total	$	360,523	$	488,200	$	388,482

(1) Revenue is attributed to countries based on the location of the customer.

Schedule of Property and Equipment, Net by Geographic Region


Property and equipment, net:	As of December 31,
(in thousands)	2025		2024
United States	$	14,817	$	15,476
Israel		5,926		7,257
France		4,656		2,182
Other countries		249		247
Total	$	25,648	$	25,162

Schedule of Revenue on Customer Concentration

Customer Concentration


Net revenue:	Year Ended December 31,
(in thousands)	2025		2024		2023
Top 2 customers (2)	$	221,787	$	393,234	$	284,178
Rest-of-world		138,736		94,966		104,304
Total	$	360,523	$	488,200	$	388,482

(2) Based on largest subscriber footprint

EMPLOYEE BENEFIT PLANS - Schedule of Allocation of the Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 21,643	$ 19,326	$ 16,420
Cost of revenue
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	963	506	963
Research and development expense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	4,751	4,609	3,616
Selling, general and administrative expense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	15,929	14,211	11,841
RSUs
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	17,416	16,344	13,308
PRSUs
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	39	200	0
MRSUs
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	3,140	1,646	1,800
Employee stock purchase rights under ESPP
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 1,048	$ 1,136	$ 1,312

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Other Commitments [Line Items]
Non-cancelable purchase commitments	$ 44.5
Credit Agreement \| Line Of Credit
Other Commitments [Line Items]
Letters of credit outstanding, amount	3.0
Indemnification Guarantee [Member]
Other Commitments [Line Items]
Accrual for indemnification provisions	0.0
Property Lease Guarantee [Member] \| Performance Guarantee [Member]
Other Commitments [Line Items]
Guarantees, fair value disclosure	$ 3.0	$ 2.9

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 124,105	$ 101,457
Accounts receivable, net of allowances for credit losses of $227 and $415 as of December 31, 2025 and December 31, 2024, respectively	85,935	143,724
Inventories	47,840	43,060
Prepaid expenses and other current assets	12,530	9,888
Assets held for sale	223,961	267,011
Total current assets	494,371	565,140
Property and equipment, net	25,648	25,162
Operating lease right-of-use assets	13,687	12,411
Goodwill	60,900	60,773
Deferred income taxes, net	104,043	113,906
Other non-current assets	19,834	19,114
Total assets	718,483	796,506
Current liabilities:
Current portion of long-term debt	2,944	2,194
Accounts payable	23,093	28,318
Deferred revenue	31,519	14,385
Operating lease liabilities	6,433	5,675
Other current liabilities	48,288	54,745
Liabilities to be disposed of	85,671	86,966
Total current liabilities	197,948	192,283
Long-term debt	109,140	112,084
Operating lease liabilities non-current	14,664	14,727
Other non-current liabilities	13,485	12,154
Total liabilities	335,237	331,248
Stockholders' equity
Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.001 par value, 150,000 shares authorized; 111,186 and 116,735 shares issued and outstanding at December 31, 2025 and 2024, respectively	111	117
Additional paid-in capital	2,466,177	2,432,733
Accumulated deficit	(2,076,406)	(1,953,495)
Accumulated other comprehensive loss	(6,636)	(14,097)
Total stockholders' equity	383,246	465,258
Total liabilities and stockholders' equity	$ 718,483	$ 796,506

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Schedule of Contract Assets and Deferred Revenue

Contract assets and deferred revenue consisted of the following:


	As of December 31,
(in thousands)	2025		2024
Contract assets	$	1,959	$	1,035
Deferred revenue	$	33,006	$	16,996

Schedule of Capitalized Contract Costs

The balances of net capitalized contract costs included in the Company’s Consolidated Balance Sheets were as follows:


(in thousands)		As of December 31,
Balance Sheet Location:	2025		2024
Prepaid expenses and other current assets	$	1,139	$	560
Other non-current assets		1,005		552
Total net capitalized contract costs	$	2,144	$	1,112

Schedule of Changes in Carrying Amount of Goodwill

The changes in the Company's carrying amount of goodwill are as follows:


(in thousands)	Carrying Amount
Balance as of December 31, 2023	$	60,781
Foreign currency translation adjustment		(8)
Balance as of December 31, 2024	$	60,773
Foreign currency translation adjustment		127
Balance as of December 31, 2025	$	60,900

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

NET INCOME PER SHARE - Schedule of Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net income from continuing operations	$ 1,216	$ 50,718	$ 88,338
Net loss from discontinued operations	(44,526)	(11,501)	(4,344)
Net income	$ (43,310)	$ 39,217	$ 83,994
Denominator:
Basic (in shares)	113,660	115,120	111,651
Diluted (in shares)	114,182	117,482	117,359
Continuing operations, Basic	$ 0.01	$ 0.44	$ 0.79
Discontinued operations, Basic	(0.39)	(0.1)	(0.04)
Basic earnings per share	(0.38)	0.34	0.75
Continuing operations, Diluted	0.01	0.43	0.75
Discontinued operations, Diluted	(0.39)	(0.1)	(0.03)
Diluted earnings per share	$ (0.38)	$ 0.33	$ 0.72
Stock purchase rights under the ESPP
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	22	6	33
Restricted stock units
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	500	921	1,355
2024 Notes
Denominator:
Weighted average number diluted shares outstanding adjustment (in shares)	0	1,435	4,320

NET INCOME PER SHARE

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NOTE 12: NET INCOME PER SHARE

Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s stock options, restricted stock units, and shares issuable under the ESPP, and the if-converted method for the convertible Notes.

As noted in Note 8, “Debt,” the principal amount of the 2024 Notes was settled in cash while the conversion spread value was settled in shares.

The following table sets forth the computation of the basic and diluted net income per share:


	Year Ended December 31,
(in thousands, except per share amounts)	2025		2024		2023
Numerator:
Net income from continuing operations	$	1,216	$	50,718	$	88,338
Net loss from discontinued operations		(44,526)		(11,501)		(4,344)
Net income	$	(43,310)	$	39,217	$	83,994
Denominator:
Weighted average number of shares outstanding:
Basic		113,660		115,120		111,651
2024 Notes		—		1,435		4,320
Restricted stock units		500		921		1,355
Stock purchase rights under ESPP		22		6		33
Diluted		114,182		117,482		117,359
Net income (loss) per share:
Basic:
Continuing operations	$	0.01	$	0.44	$	0.79
Discontinued operations		(0.39)		(0.10)		(0.04)
Basic earnings per share	$	(0.38)	$	0.34	$	0.75

Diluted:
Continuing operations	$	0.01	$	0.43	$	0.75
Discontinued operations		(0.39)		(0.10)		(0.03)
Diluted earnings per share	$	(0.38)	$	0.33	$	0.72

The following table set forth the potential dilutive shares that were excluded from the computation of diluted net income per share, because their effects were anti-dilutive:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Restricted stock units		990		539		276
Stock purchase rights under the ESPP		186		—		—

NET INCOME PER SHARE (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Income Per Share

The following table sets forth the computation of the basic and diluted net income per share:


	Year Ended December 31,
(in thousands, except per share amounts)	2025		2024		2023
Numerator:
Net income from continuing operations	$	1,216	$	50,718	$	88,338
Net loss from discontinued operations		(44,526)		(11,501)		(4,344)
Net income	$	(43,310)	$	39,217	$	83,994
Denominator:
Weighted average number of shares outstanding:
Basic		113,660		115,120		111,651
2024 Notes		—		1,435		4,320
Restricted stock units		500		921		1,355
Stock purchase rights under ESPP		22		6		33
Diluted		114,182		117,482		117,359
Net income (loss) per share:
Basic:
Continuing operations	$	0.01	$	0.44	$	0.79
Discontinued operations		(0.39)		(0.10)		(0.04)
Basic earnings per share	$	(0.38)	$	0.34	$	0.75

Diluted:
Continuing operations	$	0.01	$	0.43	$	0.75
Discontinued operations		(0.39)		(0.10)		(0.03)
Diluted earnings per share	$	(0.38)	$	0.33	$	0.72

Schedule of Antidilutive Securities

The following table set forth the potential dilutive shares that were excluded from the computation of diluted net income per share, because their effects were anti-dilutive:


	Year Ended December 31,
(in thousands)	2025		2024		2023
Restricted stock units		990		539		276
Stock purchase rights under the ESPP		186		—		—

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Money Market Funds - Fair Value Recurring - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 25,322	$ 10,000
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	25,322	10,000
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

GOODWILL (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the Company's carrying amount of goodwill are as follows:


(in thousands)	Carrying Amount
Balance as of December 31, 2023	$	60,781
Foreign currency translation adjustment		(8)
Balance as of December 31, 2024	$	60,773
Foreign currency translation adjustment		127
Balance as of December 31, 2025	$	60,900

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

+ Details

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 3: DISCONTINUED OPERATIONS

On December 8, 2025, the Company entered into a Put Option Agreement to divest our Video business to Leone Media Inc. for $145 million, subject to working capital and other adjustments. The following table summarizes the carrying values of the assets and liabilities classified as held-for-sale in our consolidated balance sheet as of December 31, 2025:


	As of December 31,
(in thousands)	2025		2024
Assets
Accounts receivable, net	$	38,895	$	34,289
Inventories		23,890		20,944
Prepaids and other current assets		13,207		12,714
Property and equipment, net		1,296		1,661
Goodwill		123,479		176,103
Deferred income taxes, net		8,742		7,122
Other non-current assets		14,452		14,178
Total assets held for sale	$	223,961	$	267,011

Liabilities
Current portion of other borrowings	$	5,605	$	4,941
Accounts payable		8,004		6,932
Deferred revenue		26,577		32,684
Other current liabilities		22,936		17,695
Other long-term borrowings		8,076		8,694
Other non-current liabilities		14,473		16,020
Total liabilities to be disposed of	$	85,671	$	86,966


	Year Ended December 31,
(in thousands)	2025		2024		2023
Revenue	$	210,317	$	190,522	$	219,425
Cost of revenue		68,614		64,708		85,001
Total gross profit		141,703		125,814		134,424
Operating expenses:
Research and development		46,955		48,401		56,574
Selling, general and administrative		73,969		73,955		85,396
Impairment of goodwill		57,521		—		—
Asset impairment and other charges		—		1,824		—
Restructuring and related charges		422		13,232		311
Total operating expenses		178,867		137,412		142,281
Loss from discontinued operations		(37,164)		(11,598)		(7,857)
Interest expense, net		(699)		(861)		(669)
Other income (expense), net		1,116		(1,144)		(178)
Loss from discontinued operations before income taxes		(36,747)		(13,603)		(8,704)
Provision for (benefit from) income taxes		7,779		(2,102)		(4,360)
Loss from discontinued operations, net of tax	$	(44,526)	$	(11,501)	$	(4,344)


	Year Ended December 31,
(in thousands)	2025		2024		2023
Cash provided by operating activities	$	2,532	$	2,778	$	1,754
Cash used in investing activities		(801)		(1,775)		(718)
Cash used in financing activities	$	(1,731)	$	(1,003)	$	(1,036)

Upon classification as held for sale, we recognized a goodwill impairment charge of $57.5 million within "Net loss from discontinued operations" in the consolidated statements of operations. We expect the transaction, which is subject to customary closing conditions and regulatory approvals, to close during the first half of fiscal 2026.

CERTAIN BALANCE SHEET COMPONENTS - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Accrued employee compensation and related expenses	$ 13,560	$ 14,366
Income tax payable	367	11,660
Accrued customer rebates	7,270	5,168
Accrued liabilities for excess and obsolete inventory	8,330	6,473
Other	18,761	17,078
Total	$ 48,288	$ 54,745

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($)		12 Months Ended
DISCONTINUED OPERATIONS - Narrative (Details) - USD ($)	Dec. 08, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill impairment charge		$ 57,500,000	$ 0	$ 0
Leone Media Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price	$ 145,000,000

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Examination [Line Items]
Effective tax rate	86.00%	29.00%	(217.00%)
Net of refunds received foreign	$ 0.6
Net of refunds received , state	1.6
Federal income taxes	10.5
Unrecognized future tax benefits, including interest and penalties	13.8
Unrecognized future tax benefits that would favorably impact future effective tax rate if recognized	5.6
Unrecognized future tax benefit that would not impact effective tax rate	$ 8.2
US
Income Tax Examination [Line Items]
Open tax year	2022 2023 2024
US \| Net Operating Losses
Income Tax Examination [Line Items]
Open tax year	2015 2016 2017 2018 2019 2020
US \| Research and Development Credits
Income Tax Examination [Line Items]
Open tax year	2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Switzerland
Income Tax Examination [Line Items]
Open tax year	2020 2021 2022 2023 2024 2025
Israel
Income Tax Examination [Line Items]
Open tax year	2020 2021 2022 2023 2024 2025
France
Income Tax Examination [Line Items]
Open tax year	2024 2025
Foreign
Income Tax Examination [Line Items]
Operating loss carryforwards	$ 6.3
U.S. state
Income Tax Examination [Line Items]
Operating loss carryforwards	24.9
Tax credit carryovers	37.1
Federal
Income Tax Examination [Line Items]
Operating loss carryforwards	70.0
Tax credit carryovers	$ 4.9

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenue:
Total net revenue	$ 360,523	$ 488,200	$ 388,482
Cost of revenue:
Total cost of revenue	185,778	248,093	210,361
Total gross profit	174,745	240,107	178,121
Operating expenses:
Research and development expense	76,329	72,574	69,708
Selling, general and administrative	81,384	79,169	78,274
Asset impairment and related charges	1,637	10,889	0
Restructuring and related charges	1,315	2,741	110
Total operating expenses	160,665	165,373	148,092
Income (loss) from operations	14,080	74,734	30,029
Interest expense, net	(3,799)	(6,465)	(2,027)
Other income (expense), net	(1,420)	3,267	(157)
Income before income taxes	8,861	71,536	27,845
Provision for (benefit from) income taxes	7,645	20,818	(60,493)
Income from continuing operations	1,216	50,718	88,338
Loss from discontinued operations, net of tax	(44,526)	(11,501)	(4,344)
Net income	$ (43,310)	$ 39,217	$ 83,994
Net income per share:
Basic	$ (0.38)	$ 0.34	$ 0.75
Diluted	$ (0.38)	$ 0.33	$ 0.72
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic	113,660	115,120	111,651
Diluted	114,182	117,482	117,359
Continuing operations [Member]
Net income per share:
Basic	$ 0.01	$ 0.44	$ 0.79
Diluted	0.01	0.43	0.75
Discontinued operations [Member]
Net income per share:
Basic	(0.39)	(0.1)	(0.04)
Diluted	$ (0.39)	$ (0.1)	$ (0.03)
Appliance Integration [Member]
Revenue:
Total net revenue	$ 302,787	$ 433,795	$ 334,029
Cost of revenue:
Total cost of revenue	162,129	221,745	189,243
SaaS Service [Member]
Revenue:
Total net revenue	57,736	54,405	54,453
Cost of revenue:
Total cost of revenue	$ 23,649	$ 26,348	$ 21,118

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION - Schedule of Total Revenues by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 360,523	$ 488,200	$ 388,482
United States
Segment Reporting Information [Line Items]
Total revenue	277,049	421,679	307,614
Other Countries
Segment Reporting Information [Line Items]
Total revenue	83,474	66,521	80,868
Americas
Segment Reporting Information [Line Items]
Total revenue	320,570	449,346	335,154
EMEA
Segment Reporting Information [Line Items]
Total revenue	33,894	36,420	50,994
APAC
Segment Reporting Information [Line Items]
Total revenue	$ 6,059	$ 2,434	$ 2,334

- Definition

+ References

+ Details

DEBT - Narrative (Details) - USD ($) $ in Thousands, shares in Millions	1 Months Ended		12 Months Ended
	Apr. 30, 2024	Dec. 31, 2023	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2027	Sep. 13, 2019
Debt Instrument [Line Items]
Long-term debt			$ 112,084	$ 114,278
2024 Notes
Debt Instrument [Line Items]
Debt interest expense				1,194	$ 3,210
Senior Notes [Member] \| 2024 Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							2.00%
Principal amount	$ 115,500						$ 115,500
Debt conversion, converted instrument, shares issued (in shares)	4.6
Debt conversion, converted instrument, settled in cash	$ 115,500
Line Of Credit \| Credit Agreement
Debt Instrument [Line Items]
Debt Instrument, Term		5 years
Debt Instrument Premium Fee Basis Spread			0.10%
Debt interest expense			$ 6,300	5,100
Line Of Credit \| Credit Agreement \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.00%
Line of credit facility, commitment fee (as a percent)			0.25%
Line Of Credit \| Credit Agreement \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.75%
Line of credit facility, commitment fee (as a percent)			0.35%
Line Of Credit \| Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 160,000
Line of credit facility, accordion feature, increase limit			100,000
Long-term debt			75,000
Line of credit facility, remaining borrowing capacity			82,000
Line Of Credit \| Credit Agreement \| Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			10,000
Long-term debt			3,000
Line Of Credit \| Credit Agreement \| Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			200,000
Line Of Credit \| Credit Agreement Amended \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				40,000
Term Facility \| Credit Agreement \| Secured Debt
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			40,000	$ 40,000
Proceeds from line of credit	$ 40,000
Repayment of debt			2,800
Long-term debt			$ 37,300
Debt Instrument, Periodic Payment, Percentage Of Principal			1.875%	1.25%
Repayments of principal			$ 3,000
Term Facility \| Credit Agreement \| Forecast \| Secured Debt
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Percentage Of Principal						2.50%

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION - Narrative (Details) - Segment	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description	The Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”), now evaluates the performance of the Company and makes decisions regarding the allocation of resources based on the Company’s consolidated results. Our CODM does not evaluate operating results using asset or liability information.
Number of reportable segments	1
Customer One \| Revenue Benchmark \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk	54.00%	57.00%	64.00%
Customer Two \| Revenue Benchmark \| Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk		24.00%
United States \| Revenue Benchmark \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk	10.00%	10.00%	10.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Accounting Policies [Abstract]
Balance at beginning of period	$ 60,773	$ 60,781
Foreign currency translation adjustment	127	(8)
Balance at end of period	$ 60,900	$ 60,773

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-8

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-URI https://asc.fasb.org/1943274/2147479303/805-10-55-41

Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147478064/805-740-55-13

Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147479303/805-10-55-39

Reference 6: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 7: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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-Subparagraph (d)
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 8: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Concentration Risk [Line Items]
Revenue recognized that was included within the deferred revenue balance	$ 13,400,000	$ 10,400,000
Amortization of capitalized contract costs	900,000	500,000	$ 100,000
Leasehold improvement impairment charge	300,000	4,300,000
Impairment charges of property and equipment			0
Impairment of goodwill	57,500,000	0	0
Foreign currency remeasurement gain (loss)	(847,000)	(315,000)	(1,453,000)
Advertising Expense	$ 200,000	300,000	400,000
Maximum
Concentration Risk [Line Items]
Facilities with remaining lease terms	7 years
Minimum
Concentration Risk [Line Items]
Facilities with remaining lease terms	1 year
Other Expense
Concentration Risk [Line Items]
Foreign currency remeasurement gain (loss)	$ (1,400,000)	$ 3,300,000	$ (200,000)
Furniture And Fixtures
Concentration Risk [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Software
Concentration Risk [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Machinery And Equipment
Concentration Risk [Line Items]
Property, Plant and Equipment, Useful Life	4 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Concentration Risk [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 573,800,000
Revenue, Remaining Performance Obligation, Percentage	53.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Accounts Receivable \| Customer Concentration Risk \| One Customers
Concentration Risk [Line Items]
Concentration risk	10.00%
Accounts Receivable \| Customer Concentration Risk \| Two Customers
Concentration Risk [Line Items]
Concentration risk		10.00%
Net Revenue \| Customer Concentration Risk \| One Customers \| Minimum
Concentration Risk [Line Items]
Concentration risk	10.00%		10.00%
Net Revenue \| Customer Concentration Risk \| Two Customers \| Minimum
Concentration Risk [Line Items]
Concentration risk		10.00%

LEASES - Schedule of Future Minimum Lease Payments under Non-cancellable Operating Leases (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Leases [Abstract]
2026	$ 6,665
2027	5,632
2028	4,567
2029	3,985
2030	1,851
Thereafter	1,267
Total future minimum lease payments	23,967
Less: imputed interest	(2,870)
Total lease liability balance	$ 21,097

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Tax Provision


Income (loss) before income tax:	Year Ended December 31,
(in thousands)	2025		2024		2023
Domestic	$	(4,780)	$	63,403	$	19,942
Foreign		13,641		8,133		7,903
Income before income taxes	$	8,861	$	71,536	$	27,845

Schedule of Provision for (Benefit from) Income Taxes


Provision for (benefit from) income taxes:	Year Ended December 31,
(in thousands)	2025		2024		2023
Current:
Federal	$	1,221	$	27,600	$	16,618
State		358		6,317		3,766
Foreign		2,884		2,402		1,794
Deferred:
Federal		3,514		(16,743)		(77,450)
State		628		(790)		(6,181)
Foreign		(960)		2,032		960
Total provision for (benefit from) income taxes	$	7,645	$	20,818	$	(60,493)

Schedule of Reconcilation of Provision for (Benefit from) Income Taxes

The following table is a reconciliation of the U.S. federal statutory rate of 21% to the Company's effective rate for the year ended December 31, 2025 in accordance with guidance in ASU 2023-09.


	Year Ended December 31, 2025
(in thousands)	$		%
Provision for income taxes at U.S. federal statutory rate	$	1,861		21%
State and local income taxes, net of federal benefit (1)		956		11%
Foreign tax effects
Argentina
Withholding tax		330		4%
Colombia
Withholding tax		212		2%
El Salvador
Withholding tax		198		2%
Israel
Share-based compensation		(311)		(4)%
Foreign exchange gain/loss		(770)		(9)%
Other		(193)		(2)%
Peru
Withholding tax		209		2%
Switzerland
Valuation allowance		(464)		(5)%
Withholding tax deduction		(245)		(3)%
Other		(275)		(3)%
Other foreign jurisdictions		367		4%
Effect of changes in tax laws or rates enacted in the current period
Effect of cross-border tax laws:
Global intangible low-taxed income		2,084		24%
Branch income inclusion		588		7%
Other		(212)		(2)%
Tax credits:
Foreign tax credits		(986)		(11)%
Research and development credits		(268)		(3)%
Valuation allowance
Non-taxable or non-deductible items:
Share-based compensation		1,529		17%
Impairment loss		1,013		11%
Other		503		6%
Uncertain tax positions		1,467		17%
Adjustment to prior period provision
Other adjustments		52		1%
Total tax provision and effective tax rate	$	7,645		86%

(1) State taxes in New Jersey, Tennessee, and Utah made up the majority (greater than 50%) of the tax effect in this category.


	Year Ended December 31,
	2024		2023
Statutory U.S. federal income tax rate		21%		21%
Increase (reduction) in rate resulting from:
State Taxes		4%		—%
Differential in rates on foreign earnings		2%		(6)%
Change in valuation allowance		—%		(243)%
Non-deductible stock-based compensation		2%		5%
Permanent differences		(1)%		—%
Adjustments related to tax positions taken during prior years		2%		8%
Research and development credits		(1)%		(2)%
Effective tax rate		29%		(217)%

Schedule of Components of Deferred Tax Assets and Liabilities

The components of deferred taxes are as follows:


	As of December 31,
(in thousands)		2025		2024
Deferred tax assets:
Reserves and accruals	$	21,336	$	22,100
Net operating loss carryforwards		19,203		3,327
Research and development credit carryforwards		30,630		30,350
Deferred stock-based compensation		1,176		2,341
Intangibles		3,695		4,385
Operating lease liabilities		3,377		3,841
Capitalized research and development expenses		56,181		83,054
Other		5,249		3,219
Gross deferred tax assets		140,847		152,617
Valuation allowance		(32,992)		(33,397)
Gross deferred tax assets after valuation allowance		107,855		119,220
Deferred tax liabilities:
Depreciation		(1,952)		(3,127)
Operating lease right-of-use assets		(1,860)		(2,187)
Gross deferred tax liabilities		(3,812)		(5,314)
Net deferred tax assets	$	104,043	$	113,906

Schedule of Activities Related to Valuation Allowance

The following table summarizes the activities related to the Company’s valuation allowance:


		Year Ended December 31,
(in thousands)		2025		2024		2023
Balance at beginning of period	$	33,397	$	32,869	$	97,315
Additions		—		528		31
Deductions		(405)		—		(64,477)
Balance at end of period	$	32,992	$	33,397	$	32,869

Schedule of Activities Related to Gross Unrecognized Tax Benefits

The following table summarizes the activities related to the Company’s gross unrecognized tax benefits:


		Year Ended December 31,
(in millions)		2025		2024		2023
Balance at beginning of period	$	12.0	$	12.5	$	11.1
Increase in balance related to tax positions taken during current year		0.1		0.2		0.4
Increase in balance related to tax positions taken during prior years		1.2		0.3		1.0
Decrease in balance related to tax positions taken during prior years		(0.2)		(1.0)		—
Balance at end of period	$	13.1	$	12.0	$	12.5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Credit Risk and Major Customers/Supplier Concentration

Revenue Recognition

•

identification of the contract, or contracts, with a customer;

•

identification of the performance obligations in the contract;

•

determination of the transaction price;

•

allocation of the transaction price to each performance obligation in the contract; and

•

recognition of revenues when, or as, the contractual performance obligations are satisfied.

Professional services: Revenues from professional services are generally recognized as the services are performed.

SaaS services: Revenue for SaaS service is recognized ratably over the contractual term as the customer simultaneously receives and consumes the benefit of the underlying service.

Support and maintenance: Support and maintenance services are satisfied ratably over time as the customer simultaneously receives and consumes the benefits of the services.

Contract assets and deferred revenue consisted of the following:


	As of December 31,
(in thousands)	2025		2024
Contract assets	$	1,959	$	1,035
Deferred revenue	$	33,006	$	16,996

The balances of net capitalized contract costs included in the Company’s Consolidated Balance Sheets were as follows:


(in thousands)		As of December 31,
Balance Sheet Location:	2025		2024
Prepaid expenses and other current assets	$	1,139	$	560
Other non-current assets		1,005		552
Total net capitalized contract costs	$	2,144	$	1,112

The amortization of the capitalized contract costs for the years ended December 31, 2025, 2024 and 2023 was $0.9 million, $0.5 million and $0.1 million, respectively.

Refer to Note 13, “Segment Information, Geographic Information and Customer Concentration” for disaggregated revenue information.

Inventories

Property and Equipment

Goodwill

The changes in the Company's carrying amount of goodwill are as follows:


(in thousands)	Carrying Amount
Balance as of December 31, 2023	$	60,781
Foreign currency translation adjustment		(8)
Balance as of December 31, 2024	$	60,773
Foreign currency translation adjustment		127
Balance as of December 31, 2025	$	60,900

Leases

Foreign Currency

Research and Development

Restructuring and Related Charges

Warranty

Advertising Expenses

Stock-based Compensation

Income Taxes

The Company applies the provisions of the applicable accounting guidance regarding accounting for uncertainty in income taxes, which require application of a more-likely-than-not threshold to the recognition and derecognition of uncertain tax positions. If the recognition threshold is met, the applicable accounting guidance permits the recognition of a tax benefit measured at the largest amount of such tax benefit that, in the Company’s judgment, is more than fifty percent likely to be realized upon settlement. It further requires that a change in judgment related to the expected ultimate resolution of uncertain tax positions to be recognized in earnings in the period in which such determination is made. The Company will continue to review its tax positions and provide for, or reverse, unrecognized tax benefits as issues arise.The Company recognizes interest and penalties related to unrecognized tax positions in income tax expenses on the Consolidated Statements of Operations.

Recently Adopted and Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncement and Income Tax Legislation

New Accounting pronouncement Not Yet Adopted

Income Tax Legislation

Fair Value Measurements

•

Level 1 - Observable inputs that reflect quoted prices for identical assets or liabilities in active markets.

•

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

INCOME TAXES - Schedule of Activities Related to Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of period	$ 12.0	$ 12.5	$ 11.1
Increase in balance related to tax positions taken during current year	0.1	0.2	0.4
Increase in balance related to tax positions taken during prior years	1.2	0.3	1.0
Decrease in balance related to tax positions taken during prior years	(0.2)	(1.0)	0.0
Balance at end of period	$ 13.1	$ 12.0	$ 12.5

SEGMENT INFORMATION, GEOGRAPHIC INFORMATION AND CUSTOMER CONCENTRATION - Schedule of Financial Information by Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenue	$ 360,523	$ 488,200	$ 388,482
Cost of revenue	185,778	248,093	210,361
Research and development expense	76,329	72,574	69,708
Selling, general and administrative	81,384	79,169	78,274
Income (loss) from operations	14,080	74,734	30,029
Stock-based compensation	(21,641)	(19,325)	(16,419)
Restructuring and related charges	(1,315)	(2,741)	(123)
Asset impairment charges	(1,637)	(10,889)	0
Non-operating expense, net	(5,219)	(3,198)	(2,184)
Income before income taxes	8,861	71,536	27,845
Operating Segments
Segment Reporting Information [Line Items]
Revenue	360,523	488,200	388,482
Cost of revenue	184,817	247,588	209,384
Research and development expense	71,575	68,115	66,092
Selling, general and administrative	65,458	64,808	66,435
Income (loss) from operations	$ 38,673	$ 107,689	$ 46,571

DEBT - Schedule of Convertible Debt Interest (Details) - 2024 Notes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Contractual interest expense	$ 912	$ 2,312
Amortization of debt issuance costs	282	898
Total interest expense recognized	$ 1,194	$ 3,210

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
-Section S50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section 50
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/exampleRef
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Reference 10: http://www.xbrl.org/2003/role/exampleRef
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Reference 11: http://www.xbrl.org/2003/role/exampleRef
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+ Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 14: COMMITMENTS AND CONTINGENCIES

Bank Guarantees and Standby Letters of Credit

As of December 31, 2025 and 2024, the Company has outstanding bank guarantees and standby letters of credit in aggregate of $3.0 million and $2.9 million, respectively, consisting of building leases and performance bonds issued to customers.

In December 2023, the Company entered into a Credit Agreement, with Citibank, N.A., as administrative agent for the lenders. The Credit Agreement refinanced and replaced the Company’s prior credit agreement, dated as of December 19, 2019, as amended, with JPMorgan Chase Bank, N.A., as lender. In July 2024, the Company amended the Credit Agreement to allow the Company and its subsidiaries to request letters of credit denominated in foreign currencies. In December 2024, the Company further amended the Credit Agreement to increase the revolving credit commitments. As of December 31, 2025, there were approximately $3.0 million of letters of credit outstanding under the Credit Agreement, and the Company was in compliance with the covenants under the Credit Agreement. Refer to Note 8, “Debt” for additional information regarding the Credit Agreement.

Indemnification

The Company is obligated to indemnify its officers and its directors pursuant to its bylaws and contractual indemnity agreements. The Company also indemnifies some of its suppliers and most of its customers for specified intellectual property matters pursuant to certain contractual arrangements, subject to certain limitations. The scope of these indemnities varies, but, in some instances, includes indemnification for damages and expenses (including reasonable attorneys’ fees). There have been no amounts accrued in respect of the indemnification provisions through December 31, 2025.

Purchase Commitments

As of December 31, 2025, the Company had approximately $44.5 million of commitments to purchase goods and services.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance (in shares) at Dec. 31, 2022		109,871
Beginning balance at Dec. 31, 2022	$ 324,506	$ 110	$ 2,380,651	$ (2,046,569)	$ (9,686)
Net Income (Loss)	83,994			83,994
Other comprehensive income (loss), net of tax	3,980				3,980
Issuance of common stock under option, stock award and purchase plans, net (in shares)		2,536
Issuance of common stock under option, stock award and purchase plans, net	(2,935)	$ 2	(2,937)
Stock-based compensation	$ 27,329		27,329
Issuance of common stock upon conversion of 2024 Notes (in shares)	0
Ending Balance at Dec. 31, 2023	$ 436,874	$ 112	2,405,043	(1,962,575)	(5,706)
Ending balance (in shares) at Dec. 31, 2023		112,407
Net Income (Loss)	39,217			39,217
Other comprehensive income (loss), net of tax	(8,391)				(8,391)
Issuance of common stock under option, stock award and purchase plans, net (in shares)		2,159
Issuance of common stock under option, stock award and purchase plans, net	(886)	$ 2	(888)
Repurchase of common stock (in shares)		(2,409)
Repurchase of common stock	(30,049)	$ (2)		(30,047)
Excise tax on share repurchases	(90)			(90)
Stock-based compensation	$ 28,635		28,635
Issuance of common stock upon conversion of 2024 Notes (in shares)	4,578	4,578
Issuance of common stock upon conversion of 2024 Notes	$ (52)	$ 5	(57)
Ending Balance at Dec. 31, 2024	$ 465,258	$ 117	2,432,733	(1,953,495)	(14,097)
Ending balance (in shares) at Dec. 31, 2024	116,735	116,735
Net Income (Loss)	$ (43,310)			43,310
Other comprehensive income (loss), net of tax	7,461				7,461
Issuance of common stock under option, stock award and purchase plans, net	$ 1,618		1,615
Repurchase of common stock (in shares)	(8,100)	(8,114)
Repurchase of common stock	$ (79,028)	$ (9)		(79,019)
Excise tax on share repurchases	(582)			(582)
Stock-based compensation	$ 31,829		31,829
Issuance of common stock upon conversion of 2024 Notes (in shares)	0	2,565
Issuance of common stock upon conversion of 2024 Notes		$ 3
Ending Balance at Dec. 31, 2025	$ 383,246	$ 111	$ 2,466,177	$ (2,076,406)	$ (6,636)
Ending balance (in shares) at Dec. 31, 2025	111,186	111,186

CERTAIN BALANCE SHEET COMPONENTS - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]
Finished goods	$ 32,430	$ 27,456
Raw materials	8,452	11,156
Work-in-process	4,393	2,348
Service-related spares	2,565	2,100
Total	$ 47,840	$ 43,060

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth the fair value of the Company’s financial assets measured at fair value on a recurring basis based on the three-tier fair value hierarchy:


	December 31, 2025								December 31, 2024
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents
Money market funds	$	25,322	$	—	$	—	$	25,322	$	10,000	$	—	$	—	$	10,000

Schedule of Financial Instruments Not Measured on Recurring Basis

The Company's financial instruments not measured at fair value on a recurring basis were as follows:


	December 31, 2025								December 31, 2024
	Carrying		Fair Value						Carrying		Fair Value
(in thousands)	Value		Level 1		Level 2		Level 3		Value		Level 1		Level 2		Level 3
Long-term debt	$	112,084	$	—	$	112,084	$	—	$	114,278	$	—	$	114,278	$	—

CERTAIN BALANCE SHEET COMPONENTS - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 134,596	$ 127,698
Less: accumulated depreciation and amortization	(108,948)	(102,536)
Total	25,648	25,162
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	76,971	72,302
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	27,163	26,564
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	25,336	25,588
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,569	2,443
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,557	$ 801

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2025	Feb. 19, 2026	Jun. 27, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2025
Entity File Number	000-25826
Registrant Name	HARMONIC INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0201147
Entity Address, Address Line One	2590 Orchard Parkway
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95131
City Area Code	408
Local Phone Number	542-2500
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	HLIT
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 654.6
Entity Common Stock, Shares Outstanding		110,242,356
Documents Incorporated by Reference [Text Block]	Portions of the Proxy Statement for the Registrant’s 2026 Annual Meeting of Stockholders (which will be filed with the Securities and Exchange Commission within 120 days of the end of the fiscal year ended December 31, 2025) are incorporated by reference in Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Central Index Key	0000851310
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	San Jose, California
Auditor Opinion [Text Block]	Opinion on the Financial Statements We have audited the accompanying consolidated balance sheets of Harmonic Inc. (the Company) as of December 31, 2025 and 2024, the related consolidated statements of operations, comprehensive income (loss), stockholders' equity and cash flows for each of the three years in the period ended December 31, 2025, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company at December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (2013 framework), and our report dated February 24, 2026 expressed an unqualified opinion thereon.

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (43,310)	$ 39,217	$ 83,994

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

EMPLOYEE BENEFIT PLANS

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

EMPLOYEE BENEFIT PLANS

NOTE 9: EMPLOYEE BENEFIT PLANS

Equity Award Plans

1995 Stock Plan

The 1995 Stock Plan provides for the grant of incentive stock options, non-statutory stock options and restricted stock units (“RSUs”). Incentive stock options may be granted only to employees. All other awards may be granted to employees and non-employees. Under the terms of the 1995 Stock Plan, no incentive stock option or non-statutory stock option may be granted in the ordinary course of business with a per share exercise price that is less than 100% of the fair value of the Company’s common stock on the date of grant. RSUs have no exercise price. Both options and RSUs vest over a period of time as determined by the Company’s Board of Directors (the “Board”), generally two to four years, and options expire seven years from the date of grant. Some of the RSUs granted by the Company have performance-based vesting terms, where vesting is dependent on achievement of certain financial and non-financial operating goals of the Company (performance-based RSUs, or “PRSUs”), or where vesting is dependent on performance of the Company’s total shareholder return (“TSR”) relative to the TSR of the Nasdaq Telecommunication Index (market-based RSUs, or “MRSUs”). The fair value of PRSUs is estimated on the date of grant based on the market value of our common stock. If the performance goals are not met as of the end of the performance period, no compensation expense is recognized and any previously recognized compensation expense is reversed. The expected cost is based on the portion of the awards that is probable to vest and is reflected over the service period. The fair value of MRSUs subject to targeted levels of relative TSR is estimated on the date of grant using a Monte Carlo simulation model. Compensation expense is recognized based upon the assumption of 100% achievement of the TSR goal and will not be reversed even if the threshold level of TSR is never achieved and is reflected over the service period. The 1995 Stock Plan was replaced by the 2025 Stock Plan in June 2025.

2002 Director Plan

The 2002 Director Plan provides for the grant of non-statutory stock options and RSUs to non-employee directors of the Company. Under the terms of the 2002 Director Plan, no non-statutory stock option may be granted with a per share exercise price that is less than 100% of the fair value of the Company’s common stock on the date of grant. RSUs have no exercise price. Both options and RSUs vest over a period of time as determined by the Board, generally one year for RSUs and three years for options, and options expire seven years from the date of grant. The 1995 Stock Plan was replaced by the 2025 Stock Plan in June 2025.

2025 Stock Plan

In June 2025, the Company’s stockholders approved the 2025 Equity Incentive Plan (the “2025 Stock Plan”) to replace the 1995 Stock Plan and 2002 Director Plan. As of December 31, 2025, an aggregate of 6,862,417 shares of common stock were reserved for issuance under the 2025 Stock Plan, of which 5,157,932 shares remained available for future grants. During the fiscal year 2025, the Company granted 47,048 and 188,190 shares of PRSUs and MRSUs, respectively, under the 1995 Stock Plan.

Employee Stock Purchase Plan

The 2002 Employee Stock Purchase Plan (“ESPP”) provides for the issuance of share purchase rights to employees of the Company. The ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. The ESPP enables employees to purchase shares at 85% of the fair market value of the Common Stock at the beginning or end of the offering period, whichever is lower. Offering periods generally begin on the first trading day on or after January 1 and July 1 of each year. Employees may participate through payroll deductions of 1% to 10% of their earnings. In the event that there are insufficient shares in the plan to fully fund the issuance, the available shares will be allocated across all participants based on their contributions relative to the total contributions received for the offering period. In June 2025, the Company’s stockholders approved an amendment to the ESPP Plan at the 2025 Annual Meeting to increase the number of shares of common stock reserved for issuance thereunder by 500,000 shares. As of December 31, 2025, 408,348 shares were reserved for future purchases by eligible employees. Under the ESPP, 653,580, 622,004 and 733,030 shares were issued during fiscal 2025, 2024 and 2023, respectively, representing $6.0 million, $6.6 million and $6.6 million in contributions.

Stock Options

All stock options were fully vested and exercised as of December 31, 2023. No stock options were granted in 2024 and 2025.

Restricted Stock Units


(in thousands, except per share amounts)	Number of Shares		Weighted Average Grant-Date Fair Value Per Share
Balance at December 31, 2024		3,447	$	12.95
Granted		3,212		9.42
Vested and issued		(2,354)		12.68
Forfeited		(170)		12.78
Balance at December 31, 2025		4,135	$	10.36

The fair value of RSUs vested and issued during the years ended December 31, 2025, 2024 and 2023 was $29.9 million, $25.6 million and $22.5 million, respectively.

Share-based Compensation Cost

The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s Consolidated Statements of Operations:


		Year Ended December 31,
(in thousands)	2025		2024		2023
Share-based compensation expense included in:
Cost of revenue	$	963	$	506	$	963
Research and development expense		4,751		4,609		3,616
Selling, general and administrative expense		15,929		14,211		11,841
Total	$	21,643	$	19,326	$	16,420

Share-based compensation expense by type of award:
RSUs	$	17,416	$	16,344	$	13,308
PRSUs		39		200		—
MRSUs		3,140		1,646		1,800
Employee stock purchase rights under ESPP		1,048		1,136		1,312
Total	$	21,643	$	19,326	$	16,420

As of December 31, 2025, total unrecognized share-based compensation cost related to unvested RSUs was $21.1 million and is expected to be recognized over a weighted-average period of approximately 1.5 years.

Valuation Assumptions

The Company estimates the fair value of stock purchase rights under the ESPP using a Black-Scholes option valuation model. The value of the stock purchase rights under the ESPP consists of: (1) the 15% discount on the purchase of the stock; (2) 85% of the fair value of the call option; and (3) 15% of the fair value of the put option. The call option and put option were valued using the Black-Scholes option pricing model. At the date of grant, the Company estimated the fair value of each stock purchase right granted under the ESPP using the following weighted average assumptions:


	Year Ended December 31,
	2025		2024		2023
Expected term (in years)		0.50		0.50		0.50
Volatility		41%		50%		46%
Risk-free interest rate		3.9%		5.3%		5.2%
Expected dividends		0.0%		0.0%		0.0%

The expected term of the stock purchase right under ESPP represents the period of time from the beginning of the offering period to the purchase date. The Company uses its historical volatility for a period equivalent to the expected term to estimate the expected volatility. The risk-free interest rate that the Company uses in the Black-Scholes option valuation model is based on U.S. Treasury zero-coupon issues with remaining terms similar to the expected term. The Company has not paid and does not plan to pay any cash dividends in the foreseeable future.

The estimated weighted-average fair value per share of stock purchase rights under the ESPP, granted for the years ended December 31, 2025, 2024 and 2023 was $3.46, $3.76 and $4.23, respectively.