Netlist Q2 sales drop 82% to $10M; net loss widens to $14M; CEO sees market bottom and legal wins

NETLIST INC

2023-Q2 EPS reported -$0.13 revenue$19,047,000

Q2 net sales $10.0M vs $55.4M YoY; gross profit $0.2M vs $4.7M.
Net loss $14.0M ($0.06/sh) vs $5.0M ($0.02/sh) in Q2 2022; six-month loss $29.8M.
Cash & restricted cash $31.4M; total debt $0.2M; stockholders' equity $21.6M.
CEO: memory market bottomed; expects H2 growth; favorable Micron claim construction; awaiting $303M Samsung verdict.
Stock-based compensation $1.2M in Q2 (vs $0.8M prior year).

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 the second quarter ended July 1, 2023 results: revenue $10.0 million, net income ($14.0) million, EPS ($0.06) per share.

Period: the second quarter ended July 1, 2023
Revenue: $10.0 million
Net income: ($14.0) million
EPS: ($0.06) per share
Result: reported results

Exact text from the filing

Net sales for the second quarter ended July 1, 2023 were $10.0 million, compared to net sales of $55.4 million for the second quarter ended July 2, 2022. Gross profit for the second quarter ended July 1, 2023 was $0.2 million, compared to a gross profit of $4.7 million for the second quarter ended July 2, 2022. Net sales for the six months ended July 1, 2023 were $19.0 million, compared to net sales of $105.6 million for the six months ended July 2, 2022. Gross profit for the six months ended July 1, 2023 was $0.8 million, compared to a gross profit of $8.1 million for the six months ended July 2, 2022. Net loss for the second quarter ended July 1, 2023 was ($14.0) million, or ($0.06) per share, compared to a net loss in the prior year period of ($5.0) million, or ($0.02) per share.

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Source: SEC EDGAR

accession 0001104659-23-086073

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