Netlist Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 28, 2026	Dec '25 Dec 27, 2025	Dec '24 Dec 28, 2024	Dec '23 Dec 30, 2023	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Revenue	264.55	188.63	147.1	69.21	161.64	142.36
Revenue Growth (YoY)	88.60%	28.23%	112.56%	-57.18%	13.54%	201.38%
Cost of Revenue	232.02	177.19	144.22	66.81	149.75	93.46
Gross Profit	32.53	11.44	2.88	2.39	11.89	48.9
Selling, General & Admin	15.77	13.22	12.09	12.41	14.35	10.78
Research & Development	3.7	3.5	8.06	9.16	10.62	7.24
Operating Expenses	19.48	16.72	20.15	21.58	24.97	18.02
Operating Income	13.05	-5.28	-17.27	-19.19	-13.08	30.88
Interest Expense	-	-	-	-	-	-0.57
Interest & Investment Income	0.35	0.52	1.05	1.3	0.06	-
Other Non Operating Income (Expenses)	0.14	0.16	0.32	0.06	0.07	0.64
EBT Excluding Unusual Items	13.54	-4.59	-15.91	-17.83	-12.95	30.95
Legal Settlements	-20.23	-20.23	-37.96	-42.57	-20.42	-19.49
Pretax Income	-6.69	-24.82	-53.86	-60.4	-33.37	11.46
Income Tax Expense	-	-	0	0	0	6.63
Net Income	-6.69	-24.82	-53.87	-60.4	-33.37	4.83
Net Income to Common	-6.69	-24.82	-53.87	-60.4	-33.37	4.83
Shares Outstanding (Basic)	296	287	260	244	231	218
Shares Outstanding (Diluted)	296	287	260	244	231	226
Shares Change (YoY)	11.97%	10.29%	6.47%	5.46%	2.61%	22.87%
EPS (Basic)	-0.02	-0.09	-0.21	-0.25	-0.14	0.02
EPS (Diluted)	-0.02	-0.09	-0.21	-0.25	-0.14	0.02
Free Cash Flow	-	-14.78	-34.66	-41.6	-15.46	5.49
Free Cash Flow Per Share	-	-0.05	-0.13	-0.17	-0.07	0.02
Gross Margin	12.30%	6.07%	1.96%	3.46%	7.36%	34.35%
Operating Margin	4.93%	-2.80%	-11.74%	-27.72%	-8.09%	21.69%
Profit Margin	-2.53%	-13.16%	-36.62%	-87.27%	-20.64%	3.39%
Free Cash Flow Margin	-	-7.83%	-23.56%	-60.11%	-9.57%	3.85%
EBITDA	13.33	-5	-16.93	-18.82	-12.74	31
EBITDA Margin	5.04%	-2.65%	-11.51%	-27.19%	-7.88%	21.78%
D&A For EBITDA	0.28	0.28	0.35	0.37	0.34	0.13
EBIT	13.05	-5.28	-17.27	-19.19	-13.08	30.88
EBIT Margin	4.93%	-2.80%	-11.74%	-27.72%	-8.09%	21.69%
Effective Tax Rate	-	-	-	-	-	57.84%
Revenue as Reported	-	-	-	-	161.64	142.36

Source: S&P Global Market Intelligence. Standard template. Financial Sources.