Harmonic has reported record SaaS revenue for Q2 2025, as the video infrastructure vendor continues to wean itself off lumpy hardware appliance sales. The stock market sentiment wasn’t upbeat, however, as Harmonic’s share price dropped by 15% in after-hours trading due to murky forward guidance. The positive news is that video SaaS sales hit $15.4 million in the quarter, representing 30.1% of total video revenue. That brought total Q2 video sales to $51.1 million—an 11.5% year‑on‑year increase, matching the haul from Q4 2024. The last time Harmonic posted higher quarterly revenue was Q4 2023, hinting at a potential turning point after two years of stagnation. A strong second half of 2025 could see Harmonic’s video segment exceed last year’s $190.5…