Netlist Reports Second Quarter 2025 Results
Netlist (OTCQB:NLST) reported its Q2 2025 financial results, showing mixed performance. Revenue reached $41.7 million, up 44% quarter-over-quarter and 13.3% year-over-year. The company reduced operating expenses by 31% compared to Q1 2025 and 52% year-over-year.
Despite revenue growth, Netlist reported a net loss of ($6.1) million, or ($0.02) per share, though improved from ($14.8) million loss in Q2 2024. The company's financial position shows $29.0 million in cash and equivalents, but faces a working capital deficit of ($8.2) million.
Notable developments include strong DDR5 memory module demand for AI and data centers, and legal actions against Samsung and Micron for patent infringement, with a $445 million damages award against Micron being finalized.
[ "Revenue increased 44% quarter-over-quarter to $41.7 million", "Operating expenses decreased significantly by 31% QoQ and 52% YoY", "Net loss improved to ($6.1) million from ($14.8) million year-over-year", "$445 million damages award against Micron was finalized", "Strong demand for DDR5 memory modules in AI and data center markets" ]Netlist (OTCQB:NLST) ha comunicato i risultati finanziari del secondo trimestre 2025, mostrando performance contrastanti. I ricavi hanno raggiunto 41,7 milioni di dollari, in aumento del 44% rispetto al trimestre precedente e del 13,3% rispetto all'anno precedente. L'azienda ha ridotto le spese operative del 31% rispetto al primo trimestre 2025 e del 52% su base annua.
Nonostante la crescita dei ricavi, Netlist ha riportato una perdita netta di (6,1) milioni di dollari, o (0,02) dollari per azione, sebbene migliorata rispetto alla perdita di (14,8) milioni nel secondo trimestre 2024. La situazione finanziaria dell'azienda mostra 29,0 milioni di dollari in liquidità e equivalenti, ma si trova ad affrontare un deficit di capitale circolante di (8,2) milioni.
Tra gli sviluppi più rilevanti si segnalano la forte domanda di moduli di memoria DDR5 per l'IA e i data center, e le azioni legali contro Samsung e Micron per violazione di brevetti, con un risarcimento di 445 milioni di dollari contro Micron ormai definitivo.
Netlist (OTCQB:NLST) reportó sus resultados financieros del segundo trimestre de 2025, mostrando un desempeño mixto. Los ingresos alcanzaron 41,7 millones de dólares, un aumento del 44% trimestre a trimestre y del 13,3% interanual. La compañía redujo los gastos operativos en un 31% respecto al primer trimestre de 2025 y un 52% interanual.
A pesar del crecimiento en ingresos, Netlist reportó una pérdida neta de (6,1) millones de dólares, o (0,02) dólares por acción, aunque mejoró respecto a la pérdida de (14,8) millones en el segundo trimestre de 2024. La posición financiera de la empresa muestra 29,0 millones de dólares en efectivo y equivalentes, pero enfrenta un déficit de capital de trabajo de (8,2) millones.
Entre los desarrollos notables se encuentra la fuerte demanda de módulos de memoria DDR5 para IA y centros de datos, y acciones legales contra Samsung y Micron por infracción de patentes, con una indemnización de 445 millones de dólares contra Micron ya finalizada.
Netlist (OTCQB:NLST)는 2025년 2분기 재무 실적을 발표하며 혼재된 성과를 보였습니다. 매출은 4,170만 달러로 전분기 대비 44%, 전년 동기 대비 13.3% 증가했습니다. 회사는 2025년 1분기 대비 영업비용을 31%, 전년 대비 52% 감소시켰습니다.
매출 성장에도 불구하고 Netlist는 (610만 달러) 순손실을 기록했으며, 주당 손실은 (0.02)달러였습니다. 이는 2024년 2분기 (1,480만 달러) 손실에서 개선된 수치입니다. 회사의 재무 상태는 2,900만 달러 현금 및 현금성 자산을 보유하고 있으나, 운전자본 적자 (820만 달러)를 안고 있습니다.
주요 동향으로는 AI 및 데이터 센터용 DDR5 메모리 모듈에 대한 강한 수요와 삼성 및 Micron을 상대로 한 특허 침해 소송이 있으며, Micron에 대해 4억 4,500만 달러의 손해배상 판결이 확정되었습니다.
Netlist (OTCQB:NLST) a publié ses résultats financiers du deuxième trimestre 2025, affichant des performances mitigées. Le chiffre d'affaires a atteint 41,7 millions de dollars, en hausse de 44 % par rapport au trimestre précédent et de 13,3 % en glissement annuel. L'entreprise a réduit ses dépenses opérationnelles de 31 % par rapport au premier trimestre 2025 et de 52 % en un an.
Malgré la croissance du chiffre d'affaires, Netlist a enregistré une perte nette de (6,1) millions de dollars, soit (0,02) dollar par action, bien que cela représente une amélioration par rapport à la perte de (14,8) millions au deuxième trimestre 2024. La situation financière de la société montre 29,0 millions de dollars en liquidités et équivalents, mais elle fait face à un déficit de fonds de roulement de (8,2) millions.
Parmi les développements notables figurent une forte demande de modules mémoire DDR5 pour l’IA et les centres de données, ainsi que des actions en justice contre Samsung et Micron pour violation de brevets, avec une indemnisation de 445 millions de dollars contre Micron désormais définitive.
Netlist (OTCQB:NLST) veröffentlichte seine Finanzergebnisse für das zweite Quartal 2025 mit gemischten Ergebnissen. Der Umsatz erreichte 41,7 Millionen US-Dollar, ein Anstieg von 44 % gegenüber dem Vorquartal und 13,3 % im Jahresvergleich. Das Unternehmen senkte die Betriebskosten im Vergleich zum ersten Quartal 2025 um 31 % und im Jahresvergleich um 52 %.
Trotz des Umsatzwachstums meldete Netlist einen Nettoverlust von (6,1) Millionen US-Dollar bzw. (0,02) US-Dollar pro Aktie, was eine Verbesserung gegenüber dem Verlust von (14,8) Millionen im zweiten Quartal 2024 darstellt. Die Finanzlage des Unternehmens zeigt 29,0 Millionen US-Dollar an liquiden Mitteln, steht jedoch vor einem Working-Capital-Defizit von (8,2) Millionen.
Bemerkenswerte Entwicklungen sind die starke Nachfrage nach DDR5-Speichermodulen für KI und Rechenzentren sowie Rechtsstreitigkeiten gegen Samsung und Micron wegen Patentverletzungen. Ein Schadensersatz in Höhe von 445 Millionen US-Dollar gegen Micron wurde rechtskräftig bestätigt.
- None.
- Working capital deficit of ($8.2) million
- Stockholders' deficit of ($7.0) million
- Six-month revenue declined to $70.7 million from $72.6 million YoY
- Continued net losses despite improvements
- Ongoing legal battles with major competitors Samsung and Micron
IRVINE, CA / ACCESS Newswire / August 7, 2025 / Netlist, Inc. (OTCQB:NLST) today reported financial results for the second quarter ended June 28, 2025.
Recent Highlights:
Revenue for the second quarter of 2025 increased by
44% , or$12.7 million , compared to the first quarter of 2025.Operating expenses for the second quarter of 2025 decreased by
31% or$3.4 million , compared to the first quarter of 2025, and by52% or$8.2 million year over year.
"Second quarter revenue improvement was driven by healthy demand for DDR5 memory modules for AI and data centers," said Chief Executive Officer, C.K. Hong. "We continue to advance legal efforts to protect our intellectual property, filing multiple legal actions against Samsung and Micron for infringement of our new HBM and DDR5 patents. During the quarter, we also secured an order finalizing the district court's
Net sales for the second quarter ended June 28, 2025 were
Net sales for the six months ended June 28, 2025 were
Net loss for the second quarter ended June 28, 2025 was (
Net loss for the six months ended June 28, 2025 was (
As of June 28, 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, August 7, 2025 at 12:00 p.m. Eastern Time to review Netlist's results for the second quarter ended June 28, 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 judgment by the trial court for the Samsung litigation (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 June 28, 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
NLST@theplunkettgroup.com
(212) 739-6729
Gail M. Sasaki
Netlist, Inc., Chief Financial Officer
gsasaki@netlist.com
(949) 435-0025
NETLIST, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands) (Unaudited)
June 28, | December 28, | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 18,438 | $ | 22,507 | ||||
Restricted cash | 10,600 | 12,100 | ||||||
Accounts receivable, net | 1,322 | 1,671 | ||||||
Inventories | 8,781 | 2,744 | ||||||
Prepaid expenses and other current assets | 623 | 733 | ||||||
Total current assets | 39,764 | 39,755 | ||||||
Property and equipment, net | 410 | 517 | ||||||
Operating lease right-of-use assets | 823 | 1,101 | ||||||
Other assets | 448 | 466 | ||||||
Total assets | $ | 41,445 | $ | 41,839 | ||||
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 33,373 | $ | 42,307 | ||||
Revolving line of credit | 1,105 | 1,230 | ||||||
Accrued payroll and related liabilities | 768 | 808 | ||||||
Deferred revenue | 10,318 | 40 | ||||||
Other current liabilities | 2,270 | 2,675 | ||||||
Long-term debt due within one year | 179 | - | ||||||
Total current liabilities | 48,013 | 47,060 | ||||||
Operating lease liabilities | 337 | 641 | ||||||
Other liabilities | 53 | 186 | ||||||
Total liabilities | 48,403 | 47,887 | ||||||
Commitments and contingencies | ||||||||
Stockholders' deficit: | ||||||||
Preferred stock | - | - | ||||||
Common stock | 293 | 273 | ||||||
Additional paid-in capital | 346,002 | 331,367 | ||||||
Accumulated deficit | (353,253 | ) | (337,688 | ) | ||||
Total stockholders' deficit | (6,958 | ) | (6,048 | ) | ||||
Total liabilities and stockholders' deficit | $ | 41,445 | $ | 41,839 | ||||
NETLIST, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts) (Unaudited)
|
| |||||||||||||||
June 28, | June 29, | June 28, | June 29, | |||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net sales | $ | 41,706 | $ | 36,835 | $ | 70,681 | $ | 72,642 | ||||||||
Cost of sales(1) | 40,314 | 36,062 | 67,989 | 71,154 | ||||||||||||
Gross profit | 1,392 | 773 | 2,692 | 1,488 | ||||||||||||
Operating expenses: | ||||||||||||||||
Research and development(1) | 833 | 2,369 | 1,726 | 4,810 | ||||||||||||
Intellectual property legal fees | 3,480 | 10,514 | 10,507 | 23,054 | ||||||||||||
Selling, general and administrative(1) | 3,326 | 2,966 | 6,473 | 6,082 | ||||||||||||
Total operating expenses | 7,639 | 15,849 | 18,706 | 33,946 | ||||||||||||
Operating loss | (6,247 | ) | (15,076 | ) | (16,014 | ) | (32,458 | ) | ||||||||
Other income, net: | ||||||||||||||||
Interest income, net | 133 | 257 | 353 | 634 | ||||||||||||
Other income, net | 36 | 41 | 96 | 79 | ||||||||||||
Total other income, net | 169 | 298 | 449 | 713 | ||||||||||||
Loss before provision for income taxes | (6,078 | ) | (14,778 | ) | (15,565 | ) | (31,745 | ) | ||||||||
Provision for income taxes | - | - | - | 1 | ||||||||||||
Net loss | $ | (6,078 | ) | $ | (14,778 | ) | $ | (15,565 | ) | $ | (31,746 | ) | ||||
Loss per common share: | ||||||||||||||||
Basic and diluted | $ | (0.02 | ) | $ | (0.06 | ) | $ | (0.06 | ) | $ | (0.12 | ) | ||||
Weighted-average common shares outstanding: | ||||||||||||||||
Basic and diluted | 275,751 | 256,571 | 274,065 | 255,751 | ||||||||||||
(1) Amounts include stock-based compensation expense as follows: | ||||||||||||||||
Cost of sales | $ | 42 | $ | 45 | $ | 50 | $ | 66 | ||||||||
Research and development | 137 | 198 | 345 | 560 | ||||||||||||
Selling, general and administrative | 834 | 885 | 1,589 | 1,876 | ||||||||||||
Total stock-based compensation | $ | 1,013 | $ | 1,128 | $ | 1,984 | $ | 2,502 | ||||||||
SOURCE: Netlist, Inc.
View the original press release on ACCESS Newswire
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