Here are the 10-K annual reports from Netlist Inc (NLST) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NLST and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NLST filings page.
Netlist, Inc. files its annual report describing a business built around advanced memory and storage technologies that support high-performance computing and AI workloads. The company combines patented designs such as distributed buffer architecture, localized power management and CXL-based expansion with contract manufacturing in the PRC, Taiwan and Korea.
Netlist also resells memory components, including under a supply agreement with SK hynix that runs through April 2026, and remains heavily dependent on a small number of large customers; in 2025 two customers represented about 30% and 13% of net product sales. As of June 27, 2025, the market value of non-affiliate common stock was approximately $189.2 million, and as of March 13, 2026, there were 316,515,344 common shares outstanding.
The filing highlights ongoing litigation tied to monetizing Netlist’s patent portfolio, noting that substantial awarded damages may be difficult to collect, and outlines extensive operational, supply-chain, cybersecurity, geopolitical, trade and financing risks. Netlist reports over 200 issued and pending patents worldwide and 72 employees as of December 27, 2025, underscoring both its intellectual property depth and relatively small operating scale.