Netlist Inc.
05/06/2025 | Press release | Distributed by Public on 05/06/2025 06:01
Netlist Reports First Quarter 2025 Results (Form 8-K)
Netlist Reports First Quarter 2025 Results
IRVINE, CALIFORNIA, 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 $29.0 million, compared to net sales of $35.8 million for the first quarter ended March 30, 2024. Gross profit for the first quarter ended March 29, 2025 was $1.3 million, compared to a gross profit of $0.7 million for the first quarter ended March 30, 2024.
Net loss for the first quarter ended March 29, 2025 was ($9.5) million, or ($0.03) per share, compared to a net loss of ($17.0) million in the same period of prior year, or ($0.07) per share. These results include stock-based compensation expense of $1.0 million and $1.4 million for the quarters ended March 29, 2025 and March 30, 2024, respectively.
As of March 29, 2025, cash, cash equivalents and restricted cash were $25.6 million, total assets were $32.4 million, working capital deficit was ($15.0) million, and stockholders' deficit was ($13.7) million.
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.
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