Netlist Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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
Cash & Equivalents	31.78	22.51	40.45	25.01	47.68
Cash & Short-Term Investments	31.78	22.51	40.45	25.01	47.68
Cash Growth	41.21%	-44.35%	61.71%	-47.54%	257.79%
Receivables	2.41	1.67	4.56	8.24	12.73
Inventory	3.38	2.74	12.03	10.69	15.67
Prepaid Expenses	0.33	0.73	0.44	1.31	1.13
Restricted Cash	10.3	12.1	12.4	18.6	10.8
Total Current Assets	48.21	39.76	69.88	63.85	88
Property, Plant & Equipment	0.84	1.62	2.36	3.18	2.88
Other Long-Term Assets	0.43	0.47	0.56	0.3	0.29
Total Assets	49.48	41.84	72.8	67.32	91.18
Accounts Payable	20.61	42.31	39.83	28.47	25.89
Accrued Expenses	0.85	0.81	1.35	3.56	1.6
Short-Term Debt	1.79	1.23	3.84	4.94	7
Current Portion of Long-Term Debt	-	-	-	0.45	0.56
Current Portion of Leases	-	0.64	0.71	0.66	0.34
Current Unearned Revenue	30.57	0.04	-	-	-
Other Current Liabilities	0.82	2.03	1.86	-	-
Total Current Liabilities	54.64	47.06	47.59	38.07	35.39
Long-Term Leases	0.02	0.64	1.22	1.84	1.63
Other Long-Term Liabilities	0.02	0.18	0.23	0.17	0.11
Total Liabilities	54.68	47.89	49.04	40.09	37.13
Common Stock	0.31	0.27	0.25	0.23	0.23
Additional Paid-In Capital	357	331.37	307.33	250.43	243.87
Retained Earnings	-362.51	-337.69	-283.82	-223.43	-190.06
Shareholders' Equity	-5.2	-6.05	23.76	27.24	54.04
Total Liabilities & Equity	49.48	41.84	72.8	67.32	91.18
Total Debt	1.81	2.52	5.77	7.88	9.54
Net Cash (Debt)	29.97	19.99	34.67	17.13	38.14
Net Cash Growth	49.94%	-42.35%	102.45%	-55.10%	-
Net Cash Per Share	0.10	0.08	0.14	0.07	0.17
Filing Date Shares Outstanding	305.87	273.94	254.95	235.52	230.57
Total Common Shares Outstanding	305.87	271.99	253.59	232.56	230.11
Working Capital	-6.43	-7.31	22.29	25.77	52.61
Book Value Per Share	-0.02	-0.02	0.09	0.12	0.23
Tangible Book Value	-5.2	-6.05	23.76	27.24	54.04
Tangible Book Value Per Share	-0.02	-0.02	0.09	0.12	0.23
Machinery	-	3.16	10.31	10.98	10.43
Construction In Progress	-	-	0.01	0.01	0.27
Leasehold Improvements	-	0.5	0.77	0.78	0.64

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