Netlist Q1 revenue plunges 82% to $9.0M; net loss widens to $15.8M; $303M jury verdict against Samsung

NETLIST INC

2023-Q1 EPS reported -$0.07 revenue$9,021,000

Net sales $9.0M vs $50.2M YoY; gross profit $0.6M vs $3.4M.
Net loss ($15.8M) or ($0.07) per share vs ($5.9M) or ($0.03) per share.
Cash and restricted cash $36.6M; total assets $55.7M; working capital $22.0M.
Unanimous jury verdict awarded Netlist $303M for Samsung's willful infringement of five patents.
CEO cites ongoing memory market downturn; product business continues to be impacted.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NETLIST INC reported first quarter ended April 1, 2023 results: revenue $9.0 million, net income ($15.8) million, EPS ($0.07) per share.

Period: first quarter ended April 1, 2023
Revenue: $9.0 million
Net income: ($15.8) million
EPS: ($0.07) per share
Result: reported results

Exact text from the filing

Net sales for the first quarter ended April 1, 2023 were $9.0 million, compared to net sales of $50.2 million for the first quarter ended April 2, 2022. Gross profit for the first quarter ended April 1, 2023 was $0.6 million, compared to a gross profit of $3.4 million for the first quarter ended April 2, 2022. Net loss for the first quarter ended April 1, 2023 was ($15.8) million, or ($0.07) per share, compared to a net loss in the prior year period of ($5.9) million, or ($0.03) per share.

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Source: SEC EDGAR

accession 0001104659-23-049321

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