Netlist Reports First Quarter 2025 Results
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 $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.
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
Here's how Uber's product chief uses AI at work — and one tool he's going to use next
Uber's product chief said he uses AI to summarize lengthy reports and do research before launches. Sachin Kansal uses ChatGPT and Gemini to understand Uber's performance in overseas markets. He plans to add Google's NotebookLM to his AI suite. Uber's chief product officer has one AI tool on his to-do list. In an episode of "Lenny's Podcast" released on Sunday, Uber's product chief, Sachin Kansal, shared two ways he is using AI for his everyday tasks at the ride-hailing giant and how he plans to add NotebookLM to his AI suite. Kansal joined Uber eight years ago as its director of product management after working at cybersecurity and taxi startups. He became Uber's product chief last year. Kansal said he uses OpenAI's ChatGPT and Google's Gemini to summarize long reports. "Some of these reports, they're 50 to 100 pages long," he said. "I will never have the time to read them." He said he uses the chatbots to acquaint himself with what's happening and how riders are feeling in Uber's various markets, such as South Africa, Brazil, and Korea. The CPO said his second use case is treating AI like a research assistant, because some large language models now offer a deep research feature. Kansal gave a recent example of when his team was thinking about a new driver feature. He asked ChatGPT's deep research mode about what drivers may think of the add-on. "It's an amazing research assistant and it's absolutely a starting point for a brainstorm with my team with some really, really good ideas," the CPO said. In April, Uber's CEO, Dara Khosrowshahi, said that not enough of his 30,000-odd employees are using AI. He said learning to work with AI agents to code is "going to be an absolute necessity at Uber within a year." Uber did not immediately respond to a request for comment from Business Insider. On the podcast, Kansal also highlighted NotebookLM, Google Lab's research and note-taking tool, which is especially helpful for interacting with documents. He said he doesn't use the product yet, but wants to. "I know a lot of people who have started using it, and that is the next thing that I'm going to use," he said. "Just to be able to build an audio podcast based on a bunch of information that you can consume. I think that's awesome," he added. Kansal was referring to the "Audio Overview" feature, which summarizes uploaded content in the form of two AIs having a voice discussion. NotebookLM was launched in mid-2023 and has quickly become a must-have tool for researchers and AI enthusiasts. Andrej Karpathy, Tesla's former director of AI and OpenAI cofounder, is among those who have praised the tool and its podcast feature. "It's possible that NotebookLM podcast episode generation is touching on a whole new territory of highly compelling LLM product formats," he said in a September post on X. "Feels reminiscent of ChatGPT. Maybe I'm overreacting." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
YC partners say AI founders are closing huge deals fast by taking a page out of Palantir's early playbook
AI founders should see themselves as "forward-deployed engineers," said Y Combinator partners. The term, popularized by Palantir, refers to engineers who embed themselves with clients. Founders have closed "six, seven seven-figure deals" by being forward-deployed engineers, said a YC partner. Some AI founders are landing big enterprise deals by doing something old-school: showing up, writing code, and building the perfect demo — fast. YC partners say this strategy is taking off, and it's straight out of Palantir's early playbook. Startup founders should see themselves as "forward-deployed engineers," said Garry Tan, YC's CEO, on an episode of the "Y Combinator" podcast published Friday. The term, popularized by Palantir, refers to engineers who embed themselves with clients to fine-tune the product on-site. Tan, who was Palantir's 10th employee, said the defense tech company's edge came from recognizing that many government agencies and Fortune 500 companies lacked deep technical expertise in the room. Palantir bridged that gap by embedding technically savvy engineers during sales and implementation. Much of Palantir's success comes from its business with the US government. The Department of Defense is its biggest customer, making up 41% of its fourth-quarter revenue. Startup founders need to be "technical," "great product people," and even "ethnographers" and "designers," said Tan, who worked at Palantir from 2005 to 2007." "You want the person on the second meeting to see the demo you put together based on the stuff you heard, and you want them to say, 'Wow, I've never seen anything like that.' And take my money," he added. This hands-on approach is already delivering big results. YC partner Diana Hu said she and her team have seen founders close "six, seven seven-figure deals" with large enterprises by being forward-deployed engineers. Sometimes, she said, a pair of founders wins a deal by walking into a boardroom, gathering context, and coming back the next day with a tailored AI demo. Once the deal is closed, some of these founders go on-site to work closely with customer support teams, continuously fine-tuning the software or language model to improve performance, said YC partner Harj Taggar. Tan said this model gives AI startups a chance to outmaneuver giants like Salesforce, Oracle, and Booz Allen. "You have big fancy salespeople with big strong handshakes, and it's like, how does a really good engineer with a weak handshake go in there and beat them?" Tan said. "It's actually you show them something that they've never seen before, and like, make them feel super heard." Y Combinator did not respond to a request for comment from Business Insider. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
25 minutes ago
- Forbes
Microsoft's Bad News—500 Million Windows Users Must Now Decide
Surprising bad news suddenly hits Microsoft. A new warning has been issued for Windows users, whose PCs have been described as 'magnets for security threats,' just as new data gives Microsoft a surprising bad news story ahead of the critical next few months. You can expect many more such warnings as 500-million Windows users face an increasingly urgent decision. The latest advice comes courtesy of PC maker Asus, pointing out that 'if you're still using Windows 10 or, dare we say it, something even older — your computer's days of regular updates and support are numbered.' As for upgrades, 'what makes Windows 11 different?," Asus says. "one word: Copilot," as it pushes the latest range of AI PCs. Clearly, you don't need to decide on a premium Copilot PC to benefit from Windows 11's future-proofing, ensuring your PC receives critical security updates after Windows 10's demise in October. AI PCs remain a niche, despite projections they will eventually dominate new PC sales. Right now, there's a more fundamental decision to make. Windows 10 versus Windows 11 globally. The latest Windows market data presents a painfully bleak picture with just over five months to run until free Windows 10 security updates end for all users. Paid extensions are available, but they're expensive for enterprises and restricted to just 12-months for home users who also must pay. Microsoft is pushing free upgrades not paid extensions. A month ago, it seemed Windows 11 had turned the tide against Windows 10. The newer OS already outanks its older sibling in the U.S. but not globally. Come the end of April, though, Windows 11 was within 10% of Windows 11 for the first time. 'Just over half (53%) of all users are still on Windows 10, but that's inching down month by month.' Not any more, it seems. While more directional than exact, Statcounter's data at the end of May shows a slight month-over-month increase for Windows 10, while Windows 11 dips. This after four months of steady progress the other way. Windows 10 is holding stubbornly above 50% while Windows 11 remains 10% behind. Windows 10 versus Windows 11 in U.S. This means there are around 750 million users are yet to upgrade to Windows 11, of which at least 240 million don't have an eligible PC. That still leaves around 500 million users who can take up Microsoft's offer for a free Windows 11 upgrade but have not. Even in the U.S., where Windows 11 has overtaken Windows 10, May's data suggests Windows 10 has grown its share from 41% in April to more than 43%, while Windows 11 drops a more worrying 3.5%, from 56.5% down to below 53%. All this makes June's data critical. Come the end of this month, there will be just three months until Windows 10 is shuttered. If Microsoft is to avoid a cybersecurity nightmare hitting mid-October, something need to change. For all those Windows 10 users with PCs eligible for a free upgrade, do not run out of time.
