Netlist Reports First Quarter 2025 Results
Netlist (OTCQB:NLST) reported its Q1 2025 financial results with revenue of $29.0 million, down from $35.8 million in Q1 2024. The company's operating expenses decreased by 39% to $11.1 million compared to $18.1 million in the previous year. Gross profit improved to $1.3 million from $0.7 million year-over-year.
The company reported a net loss of ($9.5) million, or ($0.03) per share, an improvement from the ($17.0) million loss, or ($0.07) per share, in Q1 2024. As of March 29, 2025, Netlist had $25.6 million in cash and cash equivalents, with total assets of $32.4 million. However, the company faces a working capital deficit of ($15.0) million and stockholders' deficit of ($13.7) million.
Netlist (OTCQB:NLST) ha comunicato i risultati finanziari del primo trimestre 2025, registrando ricavi per 29,0 milioni di dollari, in calo rispetto ai 35,8 milioni di dollari del primo trimestre 2024. Le spese operative della società sono diminuite del 39%, attestandosi a 11,1 milioni di dollari rispetto ai 18,1 milioni dell'anno precedente. Il profitto lordo è migliorato, raggiungendo 1,3 milioni di dollari rispetto a 0,7 milioni di dollari anno su anno.
La società ha riportato una perdita netta di (9,5) milioni di dollari, ovvero (0,03) dollari per azione, un miglioramento rispetto alla perdita di (17,0) milioni di dollari, o (0,07) dollari per azione, nel primo trimestre 2024. Al 29 marzo 2025, Netlist disponeva di 25,6 milioni di dollari in liquidità e equivalenti, con un totale attivo di 32,4 milioni di dollari. Tuttavia, la società presenta un deficit di capitale circolante di (15,0) milioni di dollari e un deficit patrimoniale netto di (13,7) milioni di dollari.
Netlist (OTCQB:NLST) informó sus resultados financieros del primer trimestre de 2025, con ingresos de 29,0 millones de dólares, una disminución respecto a los 35,8 millones de dólares del primer trimestre de 2024. Los gastos operativos de la compañía se redujeron en un 39%, situándose en 11,1 millones de dólares frente a los 18,1 millones del año anterior. El beneficio bruto mejoró a 1,3 millones de dólares desde 0,7 millones de dólares año tras año.
La empresa reportó una pérdida neta de (9,5) millones de dólares, o (0,03) dólares por acción, una mejora respecto a la pérdida de (17,0) millones de dólares, o (0,07) dólares por acción, en el primer trimestre de 2024. Al 29 de marzo de 2025, Netlist contaba con 25,6 millones de dólares en efectivo y equivalentes, con activos totales de 32,4 millones de dólares. Sin embargo, la compañía enfrenta un déficit de capital de trabajo de (15,0) millones y un déficit en el patrimonio de los accionistas de (13,7) millones de dólares.
Netlist (OTCQB:NLST)는 2025년 1분기 재무 실적을 발표했으며, 매출은 2,900만 달러로 2024년 1분기의 3,580만 달러에서 감소했습니다. 회사의 영업비용은 전년 1,810만 달러에서 39% 감소한 1,110만 달러를 기록했습니다. 총이익은 전년 대비 70만 달러에서 130만 달러로 개선되었습니다.
회사는 950만 달러의 순손실, 주당 손실은 (0.03)달러로 보고했으며, 이는 2024년 1분기 순손실 1,700만 달러, 주당 손실 (0.07)달러에서 개선된 수치입니다. 2025년 3월 29일 기준으로 Netlist는 2,560만 달러의 현금 및 현금성 자산을 보유하고 있으며 총자산은 3,240만 달러입니다. 그러나 회사는 1,500만 달러의 운전자본 적자와 1,370만 달러의 주주자본 적자를 안고 있습니다.
Netlist (OTCQB:NLST) a publié ses résultats financiers du premier trimestre 2025, avec un chiffre d'affaires de 29,0 millions de dollars, en baisse par rapport à 35,8 millions de dollars au premier trimestre 2024. Les dépenses d'exploitation de la société ont diminué de 39% pour atteindre 11,1 millions de dollars, contre 18,1 millions l'année précédente. La marge brute s'est améliorée, passant de 0,7 million de dollars à 1,3 million de dollars d'une année sur l'autre.
La société a enregistré une perte nette de (9,5) millions de dollars, soit (0,03) dollar par action, une amélioration par rapport à la perte de (17,0) millions de dollars, ou (0,07) dollar par action, au premier trimestre 2024. Au 29 mars 2025, Netlist disposait de 25,6 millions de dollars en liquidités et équivalents, avec un total d'actifs de 32,4 millions de dollars. Cependant, la société fait face à un déficit de fonds de roulement de (15,0) millions et à un déficit des capitaux propres de (13,7) millions de dollars.
Netlist (OTCQB:NLST) meldete seine Finanzergebnisse für das erste Quartal 2025 mit einem Umsatz von 29,0 Millionen US-Dollar, was einem Rückgang gegenüber 35,8 Millionen US-Dollar im ersten Quartal 2024 entspricht. Die Betriebsausgaben des Unternehmens sanken um 39% auf 11,1 Millionen US-Dollar im Vergleich zu 18,1 Millionen US-Dollar im Vorjahr. Der Bruttogewinn verbesserte sich von 0,7 Millionen US-Dollar auf 1,3 Millionen US-Dollar im Jahresvergleich.
Das Unternehmen verzeichnete einen Nettoverlust von (9,5) Millionen US-Dollar bzw. (0,03) US-Dollar pro Aktie, eine Verbesserung gegenüber dem Verlust von (17,0) Millionen US-Dollar bzw. (0,07) US-Dollar pro Aktie im ersten Quartal 2024. Zum 29. März 2025 verfügte Netlist über 25,6 Millionen US-Dollar an liquiden Mitteln und Zahlungsmitteln sowie Gesamtvermögen von 32,4 Millionen US-Dollar. Allerdings weist das Unternehmen ein Working-Capital-Defizit von (15,0) Millionen US-Dollar und ein Eigenkapitaldefizit von (13,7) Millionen US-Dollar auf.
- Operating expenses reduced by 39% year-over-year to $11.1 million
- Gross profit increased to $1.3 million from $0.7 million year-over-year
- Net loss improved to $9.5 million from $17.0 million year-over-year
- Loss per share decreased to ($0.03) from ($0.07)
- Revenue declined to $29.0 million from $35.8 million year-over-year
- Working capital deficit of ($15.0) million
- Stockholders' deficit of ($13.7) million
- Company remains unprofitable with ($9.5) million net loss
IRVINE, CA / ACCESS Newswire / May 6, 2025 / Netlist, Inc. (OTCQB:NLST) today reported financial results for the first quarter ended March 29, 2025.
Recent Highlights:
Revenue for the first quarter of 2025 was
$29.0 million .Operating Expenses for the first quarter decreased by
39% to$11.1 million compared to$18.1 million for last year's first quarter.
"First quarter results were in line with our expectations. The memory market remains poised for significant growth driven by the industry's transition to HBM and DDR5 memory for AI. Netlist is well-positioned to capitalize on this through new product development and its intellectual property portfolio," said Chief Executive Officer, C.K. Hong.
Net sales for the first quarter ended March 29, 2025 were
Net loss for the first quarter ended March 29, 2025 was (
As of March 29, 2025, cash, cash equivalents and restricted cash were
Conference Call Information
C.K. Hong, Chief Executive Officer, and Gail Sasaki, Chief Financial Officer, will host an investor conference call today, May 6, 2025 at 12:00 p.m. Eastern Time to review Netlist's results for the first quarter ended March 29, 2025. The live webcast and archived replay of the call can be accessed for 90 days in the Investors section of Netlist's website at www.netlist.com.
About Netlist
Netlist is a leading innovator in advanced memory and storage solutions. With a rich portfolio of patented technologies, Netlist's inventions are foundational to the advancement of AI which is revolutionizing computing. To learn more about Netlist, please visit www.netlist.com.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release include, without limitation, statements about Netlist's ability to execute on its strategic initiatives, the results of pending litigations and Netlist's ability to successfully defend its intellectual property. Forward-looking statements are statements other than historical facts and often address future events or Netlist's future performance and reflect management's present expectations regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These risks, uncertainties and other factors include, among others: risks that Samsung will appeal the final orders by the trial court for the Samsung litigations, risks that Micron will appeal the final judgment by the trial court (appeals in general could cause a lengthy delay in Netlist's ability to collect damage awards, could overturn the verdicts or reduce the damages awards); risks that Netlist will suffer adverse outcomes in its litigation with Samsung, Micron or Google or in its various other active proceedings to defend the validity of its patents; risks related to Netlist's plans for its intellectual property, including its strategies for monetizing, licensing, expanding, and defending its patent portfolio; risks associated with patent infringement litigation initiated by Netlist, or by others against Netlist, as well as the costs and unpredictability of any such litigation; risks associated with Netlist's product sales, including the market and demand for products sold by Netlist and its ability to successfully develop and launch new products that are attractive to the market; the success of product, joint development and licensing partnerships; the competitive landscape of Netlist's industry; and general economic, political and market conditions, including the ongoing conflicts between Russia and Ukraine and Israel and Palestine, factory slowdowns and/or shutdowns, and changes in international tariff policies. All forward-looking statements reflect management's present assumptions, expectations and beliefs regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These and other risks and uncertainties are described in Netlist's Annual Report on Form 10-K for the fiscal year ended December 28, 2024 filed with the SEC on March 28, 2025, and the other filings it makes with the U.S. Securities and Exchange Commission from time to time, including any subsequently filed quarterly and current reports. In particular, you are encouraged to review the Company's Quarterly Report on Form 10-Q for the quarter ended March 29, 2025 that will be filed with the SEC for any revisions or updates to the information in this release. In light of these risks, uncertainties and other factors, these forward-looking statements should not be relied on as predictions of future events. These forward-looking statements represent Netlist's assumptions, expectations and beliefs only as of the date they are made, and except as required by law, Netlist undertakes no obligation to revise or update any forward-looking statements for any reason.
Investor Relations Contacts:
Mike Smargiassi | |
The Plunkett Group | |
(212) 739-6729 | |
Gail M. Sasaki | |
Netlist, Inc., Chief Financial Officer | |
(949) 435-0025 |
NETLIST, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands) (Unaudited)
March 29, | December 28, | |||||||
2025 | 2024 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 14,430 | $ | 22,507 | ||||
Restricted cash | 11,150 | 12,100 | ||||||
Accounts receivable, net | 1,920 | 1,671 | ||||||
Inventories | 2,253 | 2,744 | ||||||
Prepaid expenses and other current assets | 789 | 733 | ||||||
Total current assets | 30,542 | 39,755 | ||||||
Property and equipment, net | 464 | 517 | ||||||
Operating lease right-of-use assets | 962 | 1,101 | ||||||
Other assets | 456 | 466 | ||||||
Total assets | $ | 32,424 | $ | 41,839 | ||||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 38,651 | $ | 42,307 | ||||
Revolving line of credit | 1,573 | 1,230 | ||||||
Accrued payroll and related liabilities | 935 | 808 | ||||||
Deferred revenue | 1,594 | 40 | ||||||
Other current liabilities | 2,421 | 2,675 | ||||||
Long-term debt due within one year | 358 | - | ||||||
Total current liabilities | 45,532 | 47,060 | ||||||
Operating lease liabilities | 491 | 641 | ||||||
Other liabilities | 73 | 186 | ||||||
Total liabilities | 46,096 | 47,887 | ||||||
Commitments and contingencies | ||||||||
Stockholders' equity (deficit): | ||||||||
Preferred stock | - | - | ||||||
Common stock | 275 | 273 | ||||||
Additional paid-in capital | 333,228 | 331,367 | ||||||
Accumulated deficit | (347,175 | ) | (337,688 | ) | ||||
Total stockholders' deficit | (13,672 | ) | (6,048 | ) | ||||
Total liabilities and stockholders' deficit | $ | 32,424 | $ | 41,839 | ||||
NETLIST, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts) (Unaudited)
Three Months Ended | ||||||||
March 29, | March 30, | |||||||
2025 | 2024 | |||||||
Net sales | $ | 28,975 | $ | 35,807 | ||||
Cost of sales(1) | 27,675 | 35,092 | ||||||
Gross profit | 1,300 | 715 | ||||||
Operating expenses: | ||||||||
Research and development(1) | 893 | 2,441 | ||||||
Intellectual property legal fees | 7,027 | 12,540 | ||||||
Selling, general and administrative(1) | 3,147 | 3,116 | ||||||
Total operating expenses | 11,067 | 18,097 | ||||||
Operating loss | (9,767 | ) | (17,382 | ) | ||||
Other income, net: | ||||||||
Interest income, net | 220 | 377 | ||||||
Other income, net | 60 | 38 | ||||||
Total other income, net | 280 | 415 | ||||||
Loss before provision for income taxes | (9,487 | ) | (16,967 | ) | ||||
Provision for income taxes | - | 1 | ||||||
Net loss | $ | (9,487 | ) | $ | (16,968 | ) | ||
Loss per common share: | ||||||||
Basic and diluted | $ | (0.03 | ) | $ | (0.07 | ) | ||
Weighted-average common shares outstanding: | ||||||||
Basic and diluted | 272,379 | 254,931 | ||||||
(1) Amounts include stock-based compensation expense as follows: | ||||||||
Cost of sales | $ | 8 | $ | 21 | ||||
Research and development | 208 | 362 | ||||||
Selling, general and administrative | 755 | 991 | ||||||
Total stock-based compensation | $ | 971 | $ | 1,374 | ||||
SOURCE: Netlist, Inc.
View the original press release on ACCESS Newswire
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