- Netlist (NLST, Financial) reports a 19% decrease in revenue for Q1 2025, reaching $29.0 million compared to $35.8 million in Q1 2024.
- Operating expenses improved significantly, reduced by 39% to $11.1 million.
- Net loss decreased to ($9.5) million, or ($0.03) per share, from ($17.0) million, or ($0.07) per share, year-over-year.
Netlist, Inc. (OTCQB: NLST) has announced its financial results for the first quarter ending March 29, 2025. The company reported a revenue of $29.0 million, showing a decline from the $35.8 million reported in the same quarter of the previous year. Despite the drop in sales, Netlist successfully decreased its operating expenses by 39%, bringing them down to $11.1 million from $18.1 million in Q1 2024.
The semiconductor company reported a gross profit increase to $1.3 million, up from $0.7 million year-over-year. Moreover, Netlist's net loss improved to ($9.5) million, or ($0.03) per share, representing a substantial improvement from the ($17.0) million loss, or ($0.07) per share, reported in the first quarter of last year.
As of the end of March 2025, Netlist held $25.6 million in cash and cash equivalents, with total assets amounting to $32.4 million. The company, however, recorded a working capital deficit of ($15.0) million and a stockholders’ deficit of ($13.7) million.
Netlist CEO, C.K. Hong, remarked, "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."
