Netlist Balance Sheet

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
Cash & Equivalents	17.01	31.78	22.51	40.45	25.01	47.68
Cash & Short-Term Investments	17.01	31.78	22.51	40.45	25.01	47.68
Cash Growth	17.84%	41.21%	-44.35%	61.71%	-47.54%	257.79%
Receivables	3.01	2.41	1.67	4.56	8.24	12.73
Inventory	41.24	3.38	2.74	12.03	10.69	15.67
Prepaid Expenses	14.28	0.33	0.73	0.44	1.31	1.13
Restricted Cash	10	10.3	12.1	12.4	18.6	10.8
Total Current Assets	85.54	48.21	39.76	69.88	63.85	88
Property, Plant & Equipment	1.65	0.84	1.62	2.36	3.18	2.88
Other Long-Term Assets	0.42	0.43	0.47	0.56	0.3	0.29
Total Assets	87.6	49.48	41.84	72.8	67.32	91.18
Accounts Payable	27.05	20.61	42.31	39.83	28.47	25.89
Accrued Expenses	1.15	0.85	0.81	1.35	3.56	1.6
Short-Term Debt	2.6	1.79	1.23	3.84	4.94	7
Current Portion of Long-Term Debt	0.32	-	-	-	0.45	0.56
Current Portion of Leases	-	0.62	0.64	0.71	0.66	0.34
Current Unearned Revenue	44.46	30.57	0.04	-	-	-
Other Current Liabilities	0.67	0.2	2.03	1.86	-	-
Total Current Liabilities	76.26	54.64	47.06	47.59	38.07	35.39
Long-Term Leases	0.88	0.02	0.64	1.22	1.84	1.63
Other Long-Term Liabilities	0.02	0.02	0.18	0.23	0.17	0.11
Total Liabilities	77.16	54.68	47.89	49.04	40.09	37.13
Common Stock	0.32	0.31	0.27	0.25	0.23	0.23
Additional Paid-In Capital	363.99	357	331.37	307.33	250.43	243.87
Retained Earnings	-353.87	-362.51	-337.69	-283.82	-223.43	-190.06
Shareholders' Equity	10.44	-5.2	-6.05	23.76	27.24	54.04
Total Liabilities & Equity	87.6	49.48	41.84	72.8	67.32	91.18
Total Debt	3.81	2.43	2.52	5.77	7.88	9.54
Net Cash (Debt)	13.2	29.35	19.99	34.67	17.13	38.14
Net Cash Growth	16.09%	46.83%	-42.35%	102.45%	-55.10%	-
Net Cash Per Share	0.04	0.10	0.08	0.14	0.07	0.17
Filing Date Shares Outstanding	309.45	316.52	273.94	254.95	235.52	230.57
Total Common Shares Outstanding	309.45	307.34	271.99	253.59	232.56	230.11
Working Capital	9.28	-6.43	-7.31	22.29	25.77	52.61
Book Value Per Share	0.03	-0.02	-0.02	0.09	0.12	0.23
Tangible Book Value	10.44	-5.2	-6.05	23.76	27.24	54.04
Tangible Book Value Per Share	0.03	-0.02	-0.02	0.09	0.12	0.23
Machinery	-	3.19	3.16	10.31	10.98	10.43
Construction In Progress	-	-	-	0.01	0.01	0.27
Leasehold Improvements	-	0.11	0.5	0.77	0.78	0.64

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