Harmonic has delivered a modest rebound in its video segment, reporting Q1 2025 revenue of $48.3 million—up $5.1 million year-on-year, though still down 5.1% from Q4 2024. That puts the company back near Q2 2024 levels, but does not erase the recent memory of its sharp collapse from $57.3 million in Q1 2023 to $43.2 million in Q1 2024, nor the bigger picture of over $80 million in sales vanishing between 2022 and 2024. Of more concern for Harmonic’s future growth strategy is the quarterly dip in video SaaS revenue—from $15.1 million to $14.8 million in Q1 2025. While this marks a $1.3 million year-on-year gain, it is only the second ever quarterly drop in SaaS income, since Harmonic began…