Netlist Earnings Call Transcripts
Fiscal Year 2026
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A five-year strategic alliance with Samsung includes a major patent cross-license, up to $750 million in license fees, $1.5 billion in memory supply, and joint technology development. The deal settles legal disputes, secures critical supply, and positions the company for growth in AI and advanced memory markets.
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Record revenue and profitability were achieved in the first half of 2026, driven by strong demand, proprietary product growth, and tight memory supply. Legal actions to enforce patents against major industry players continue, with significant federal support and financial flexibility maintained.
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Record Q1 2026 revenue and profitability driven by strong memory demand and tight supply, with 262% year-over-year revenue growth. Legal wins strengthen IP position, while product innovation targets AI and data center markets.
Fiscal Year 2025
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Revenue surged 28% in 2025, with Q4 up 121% year-over-year, driven by strong AI-fueled memory demand and price hikes. The company improved margins, reduced expenses, and strengthened its IP position amid ongoing industry shortages and legal actions.
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Q3 2025 revenue reached $42.2 million with improved margins and reduced net loss year-over-year. AI-driven memory shortages and price increases are boosting demand for custom solutions, while legal actions and IP enforcement remain key priorities.
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Revenue grew 44% sequentially and 13% year-over-year, driven by strong DDR4 and DDR5 demand amid a market shift to DDR5. Legal wins finalized $445M in damages from Micron and concluded a Samsung contract case, while new IP suits target next-gen memory markets.
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Q1 2025 revenue met expectations at $29M, with strong AI memory demand offsetting weak consumer PC sales. Legal expenses fell sharply, and major litigation cases are advancing through appeals. The company remains financially flexible and is poised for growth in HBM and DDR5 markets.
Fiscal Year 2024
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Revenue more than doubled in 2024 to $147.6 million, driven by memory market recovery and new product launches. Legal victories against Samsung resulted in $866 million in damages, while new products and a strong IP portfolio position the company for future growth.
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Q3 2024 revenue surged 140% year-over-year to $40.2 million, led by strong server memory demand and new product launches. Major patent litigation continues, with a key Samsung trial set for November and further IP monetization opportunities ahead.
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Q2 2024 saw nearly $750M in patent damages awarded from major legal wins, with revenue up 4x year-over-year to $36.8M. AI memory demand and improved inventory metrics support a positive outlook, while ongoing litigation and appeals present risks.