Harmonic's stock surged 7.18% in pre-market trading, following the release of its fourth-quarter financial results that exceeded analyst expectations and revealed significant growth in future business visibility.

The virtualized broadband solutions provider reported adjusted earnings per share of $0.14 for the quarter, beating the consensus estimate of $0.10. A key driver of investor optimism was the company's backlog and deferred revenue, which jumped 73% year-over-year to $573.8 million, indicating robust demand for its services. Harmonic also reported record broadband bookings, resulting in a strong 3.5 book-to-bill ratio for the quarter.

Further bolstering sentiment was the announcement of a major multi-year contract with izzi, Mexico's largest cable operator, for Harmonic's cOS virtualized broadband platform. The company provided optimistic guidance for the first quarter and full year 2026, and confirmed that the sale of its Video business remains on track.