Tue, May 13, 9:06 PM (38 days ago)
**Netlist, Inc. (NLST) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $28.98 million, down 19% YoY. - **Gross Profit:** $1.30 million, up 82% YoY. - **Net Loss:** $9.49 million, improved from $16.97 million YoY. - **Cash Flow:** Negative $10.07 million from operations, $1.06 million from financing. **Key Metrics:** - **Gross Margin:** 4.49%, improved from 2.00% YoY. - **Operating Expenses:** $11.07 million, down 39% YoY. - **R&D Expenses:** $0.89 million, down 63% YoY. - **Legal Fees:** $7.03 million, down 44% YoY. **Cash & Liquidity:** - **Cash & Equivalents:** $25.58 million, down from $34.61 million. - **Working Capital:** Negative $14.99 million, down from negative $7.31 million. - **Debt:** $0.36 million in short-term notes payable. **Quarterly Performance:** - **Revenue Decline:** Due to decreased sales in RDIMM, flash, SSD, and memory subsystem products. - **Gross Margin Improvement:** Due to favorable product sales mix. - **Operating Expenses:** Reduced due to lower employee headcount and overhead costs. - **Legal Fees:** Decreased due to lower expenses in patent enforcement and licensing. **Trends & Uncertainties:** - **Economic Conditions:** Tariffs and trade policies may increase operating expenses and reduce gross margins. - **Litigation:** Ongoing legal proceedings with Samsung and Micron may impact financial results. - **Intellectual Property:** Continued investment in patent portfolio and enforcement. - **Future Operations:** Dependence on equity and debt financing for operations. **Impact on Future Operations:** - **Strategic Agreements:** SK hynix agreement supports operations. - **Financing:** March 2025 Lincoln Park Purchase Agreement provides up to $75 million in common stock sales. - **Cash Needs:** Existing cash balances and financing expected to meet needs for at least the next 12 months. **Ticker:** NLST