Netlist, Inc.

Netlist, Inc.

NLST
Netlist, Inc.US flagOther OTC
3.08
USD
-0.17
- -
1.03BMarket Cap
Netlist, Inc.
NLST
(Other OTC)

Recent

price

3.08

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
1.59
2.42
1.32
0.75
0.48
0.16
0.37
0.58
0.31
0.18
0.26
0.65
0.7
0.28
0.57
0.66
0.89
Revenue per Share
-0.64
-0.22
-0.5
-0.35
-0.38
-0.42
-0.21
-0.2
-0.16
-0.08
-0.04
0.02
-0.14
-0.25
-0.21
-0.09
-0.02
Basic EPS, GAAP
-0.69
-0.33
-0.31
-0.13
-0.16
-0.2
-0.39
-0.17
-0.1
-0.08
-0.04
0.03
-0.07
-0.17
-0.13
-0.05
-0.09
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-2.82
-2.9
-3.11
-3.16
-2.8
-2.72
-2.69
-2.41
-1.63
-1.27
-1.06
-0.87
-0.96
-1.16
-1.3
-1.26
-1.19
Book Value per Share
0.92
0.79
0.49
0.23
0.12
-0.03
-0.01
-0.08
-0.05
-0.06
-0.01
0.25
0.12
0.1
-0.02
-0.02
0.04
Tangible Book Value per Share
24
25
28
31
40
49
54
66
107
148
184
218
231
244
260
287
296
Basic Weighted Avg Shares
38
61
37
23
19
8
20
38
34
26
47
142
162
69
147
189
265
Sales/Revenue/Turnover
-41.89
-8.84
-36.67
-42.72
-71.92
-216.94
-56.14
-33.54
-48.83
-44.02
-14.47
8
-20.73
-89.24
-37.54
-13.52
-2.71
Operating Margin (%)
2
2
2
1
1
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
-15
-6
-14
-11
-15
-21
-11
-13
-17
-12
-7
5
-33
-60
-54
-25
-7
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
57.84
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-39.93
-9.22
-37.92
-46.71
-80.13
-256.2
-57.14
-35.02
-51.06
-47.7
-15.39
3.39
-20.65
-87.27
-36.62
-13.16
-2.53
Profit Margin (%)
18
18
11
11
8
12
13
8
10
5
-3
53
26
22
-7
-6
9
Working Capital
1
1
- -
5
4
14
14
15
17
16
- -
2
2
1
1
- -
1
LT Debt
22
20
14
7
5
-1
-1
-5
-6
-8
-3
54
27
24
-6
-5
10
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
11.85
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
-2.86
- -
- -
- -
- -
1.93
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
3
2
3
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
293
307
318
Market Capitalization
261
253
447

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
55
48
86
Cash, Cash Equivalents & STI
11
32
17
Accounts Receivable, Net
4
2
3
Inventories
18
3
41
Total Current Liabilities
69
55
76
Payables & Accruals
38
22
28
ST Debt
3
2
3
Deferred Revenue
27
31
44

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-153.27%
-472.89%
-13.97%
Free Cash Flow
-40.94%
-90.78%
-57.36%
Net Income, GAAP
-100.81%
-188.19%
-53.91%
Sales/Revenue/Turnover
58.51%
59.71%
28.23%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
36
37
40
34
147
2025
29
42
42
76
189
2026
105
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.07
-0.06
-0.04
-0.05
-0.21
2025
-0.03
-0.02
-0.02
-0.01
-0.09
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
Business
Netlist, Inc. (NLST) designs, manufactures and sells high-performance modular memory subsystems and storage solutions for server, high-performance computing, cloud, data center, networking, telecommunications, industrial, medical and embedded applications worldwide; its core products encompass DDR5 DIMMs including high-capacity multiplexer-reduced DIMMs (MRDIMMs) and Lightning DDR5 line, DDR4 DIMMs for commercial and industrial-grade environments, enterprise and data center NVMe SSDs in PCIe Gen4 and Gen3 form factors, embedded flash modules such as mSATA half-slim and 1.8-inch SATA SSDs, specialty and legacy DIMMs, storage class memory, nonvolatile memory, hybrid memory combining DRAM and NAND flash via patented technologies like HybriDIMM, NVvault NVDIMM, HyperCloud load-reduced DIMMs, distributed buffer architecture, proprietary PCB designs, thermal management and Compute Express Link (CXL) modules; the company also resells components including SSDs, NAND flash and dual inline memory modules (DIMMs) to storage, appliance, system builder and cloud customers, while licensing its extensive intellectual property portfolio covering hybrid memory, rank multiplication and load reduction. Founded in 2000 and headquartered in Irvine, California, with manufacturing facilities in Suzhou, China, Netlist serves original equipment manufacturers, hyperscalers and enterprise customers through direct sales and independent representatives. In recent developments, Netlist secured a final court order in June 2025 finalizing a $445 million damages award against Micron Technology for willful patent infringement, prevailed in federal court against Samsung which materially breached a patent license agreement revoking its rights, expanded litigation against Samsung and Micron in July 2025 by amending complaints to include U.S. Patent No. 10,025,731 targeting DDR5 DIMM and high-bandwidth memory (HBM) products, completed a $12 million registered direct offering of common stock and warrants in June 2025 led by CEO Chun K. Hong's $3 million investment and a subsequent $10 million offering in October 2025, began sampling high-capacity MRDIMM products for AI memory markets with branded launches planned alongside CXL modules ramping in 2026, reported Q3 2025 financial results in November 2025, reduced operating expenses by 44% in Q1 2025, joined USIJ advocating patent reform and continued advancing HBM, AI-memory and DDR5 technologies amid ongoing IP enforcement.

Company News

APIChat
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  • Netlist Reports Full Year and Fourth Quarter 2025 Results

  • Netlist (OTCMKTS:NLST) Stock Crosses Above 200-Day Moving Average – Time to Sell?

  • Netlist Schedules Fourth Quarter and Full Year 2025 Financial Results and Conference Call

  • The Federal Circuit Affirms PTAB Ruling Upholding Validity of Netlist '314 Patent

  • U.S. International Trade Commission Votes to Institute Investigation into Samsung

  • The Federal Circuit Affirms PTAB Ruling Upholding Validity of Netlist '608 Patent