Netlist Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 27, 2025	Dec '24 Dec 28, 2024	Dec '23 Dec 30, 2023	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022	Jan '21 Jan 2, 2021
Revenue	147.19	147.1	69.21	161.64	142.36	47.23
Revenue Growth (YoY)	0.64%	112.56%	-57.18%	13.54%	201.38%	80.95%
Cost of Revenue	142.41	144.22	66.81	149.75	93.46	40.5
Gross Profit	4.78	2.88	2.39	11.89	48.9	6.73
Selling, General & Admin	12.34	12.09	12.41	14.35	10.78	8.25
Research & Development	3.63	8.06	9.16	10.62	7.24	2.95
Operating Expenses	15.97	20.15	21.58	24.97	18.02	11.2
Operating Income	-11.18	-17.27	-19.19	-13.08	30.88	-4.47
Interest Expense	-	-	-	-	-0.57	-0.53
Interest & Investment Income	0.71	1.05	1.3	0.06	-	-
Other Non Operating Income (Expenses)	0.28	0.32	0.06	0.07	0.64	0.1
EBT Excluding Unusual Items	-10.19	-15.91	-17.83	-12.95	30.95	-4.9
Legal Settlements	-25.1	-37.96	-42.57	-20.42	-19.49	-2.37
Pretax Income	-35.29	-53.86	-60.4	-33.37	11.46	-7.27
Income Tax Expense	-	0	0	0	6.63	0
Net Income	-35.29	-53.87	-60.4	-33.37	4.83	-7.27
Net Income to Common	-35.29	-53.87	-60.4	-33.37	4.83	-7.27
Shares Outstanding (Basic)	278	260	244	231	218	184
Shares Outstanding (Diluted)	278	260	244	231	226	184
Shares Change (YoY)	8.57%	6.47%	5.46%	2.61%	22.87%	23.94%
EPS (Basic)	-0.13	-0.21	-0.25	-0.14	0.02	-0.04
EPS (Diluted)	-0.13	-0.21	-0.25	-0.14	0.02	-0.04
Free Cash Flow	-37.11	-34.66	-41.6	-15.46	5.49	-8.18
Free Cash Flow Per Share	-0.13	-0.13	-0.17	-0.07	0.02	-0.04
Gross Margin	3.25%	1.96%	3.46%	7.36%	34.35%	14.25%
Operating Margin	-7.60%	-11.74%	-27.72%	-8.09%	21.69%	-9.46%
Profit Margin	-23.97%	-36.62%	-87.27%	-20.64%	3.39%	-15.39%
Free Cash Flow Margin	-25.21%	-23.56%	-60.11%	-9.57%	3.85%	-17.31%
EBITDA	-10.86	-16.93	-18.82	-12.74	31	-4.32
EBITDA Margin	-7.38%	-11.51%	-27.19%	-7.88%	21.78%	-9.15%
D&A For EBITDA	0.32	0.35	0.37	0.34	0.13	0.15
EBIT	-11.18	-17.27	-19.19	-13.08	30.88	-4.47
EBIT Margin	-7.60%	-11.74%	-27.72%	-8.09%	21.69%	-9.46%
Effective Tax Rate	-	-	-	-	57.84%	-
Revenue as Reported	-	-	-	161.64	142.36	47.23

Updated Sep 27, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.