Netlist Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Netlist Inc. filed its 10-Q for the quarter ending March 30, 2024, detailing financial positions and equity information.</b>

AI Summary

NETLIST INC (NLST) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Netlist Inc. reported financial results for the period ending March 30, 2024. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of March 30, 2024. Information on restricted stock units (RSUs) and equity plans is provided for the period. Details on resales of third-party products and modular memory subsystems are included. The company has a credit agreement with Silicon Valley Bank, with data points from various dates in 2023 and 2024.

Why It Matters

For investors and stakeholders tracking NETLIST INC, this filing contains several important signals. This 10-Q filing provides an updated snapshot of Netlist's financial health and equity structure, crucial for investors assessing the company's stability and growth potential. The inclusion of details on credit agreements and product segments offers insight into Netlist's operational financing and market strategy.

Risk Assessment

Risk Level: medium — NETLIST INC shows moderate risk based on this filing. The company's financial performance and market position are subject to the dynamic semiconductor industry, which can be volatile. Specific details on revenue and profitability trends are not yet available in this header-only extract.

Analyst Insight

Monitor future filings for detailed financial statements, revenue breakdowns, and management's discussion and analysis to understand the company's performance trajectory.

Key Numbers

• 2024-03-30 — Report Date (CONFORMED PERIOD OF REPORT)
• 2024-05-06 — Filing Date (FILED AS OF DATE)
• 2023-12-28 — Fiscal Year End (FISCAL YEAR END)
• 255589000 — Value 1 (P8M)
• 253593000 — Value 2 (P8M)

Key Players & Entities

• NETLIST INC (company) — FILER
• 0001282631 (company) — CENTRAL INDEX KEY
• 3674 (industry) — STANDARD INDUSTRIAL CLASSIFICATION
• DE (jurisdiction) — STATE OF INCORPORATION
• 954812784 (tax_id) — IRS NUMBER
• 111 ACADEMY, SUITE 100 (address) — BUSINESS ADDRESS
• IRVINE (city) — BUSINESS ADDRESS
• CA (state) — BUSINESS ADDRESS

FAQ

Key Dates

• 2024-03-30: Period End Date — Marks the end of the reporting quarter for the 10-Q filing.
• 2024-05-06: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Key Financial Figures

• $0 — mber 30, 2023, we had $ 0.4 million and $0, respectively, in short-term notes paya

Filing Documents

• nlst-20240330x10q.htm (10-Q) — 1248KB
• nlst-20240330xex31d1.htm (EX-31.1) — 16KB
• nlst-20240330xex31d2.htm (EX-31.2) — 16KB
• nlst-20240330xex32d1.htm (EX-32.1) — 10KB
• nlst-20240330x10q001.jpg (GRAPHIC) — 5KB
• 0001558370-24-006807.txt (&nbsp;) — 5281KB
• nlst-20240330.xsd (EX-101.SCH) — 40KB
• nlst-20240330_cal.xml (EX-101.CAL) — 46KB
• nlst-20240330_def.xml (EX-101.DEF) — 141KB
• nlst-20240330_lab.xml (EX-101.LAB) — 299KB
• nlst-20240330_pre.xml (EX-101.PRE) — 272KB
• nlst-20240330x10q_htm.xml (XML) — 738KB

— FINANCIAL INFORMATION

PART I. — FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements 3 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4

Controls and Procedures

Controls and Procedures 28

— OTHER INFORMATION

PART II. — OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 29 Item 1A

Risk Factors

Risk Factors 29 Item 5 Other Information 56 Item 6 Exhibits 57

SIGNATURES

SIGNATURES 58 2 Table of Contents

— FINANCIAL INFORMATION

PART I. — FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements NETLIST, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands, except par value) March 30, December 30, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 28,736 $ 40,445 Restricted cash 12,400 12,400 Accounts receivable, net of allowances of $ 76 (2024) and $ 68 (2023) 4,529 4,562 Inventories 15,169 12,031 Prepaid expenses and other current assets 1,153 441 Total current assets 61,987 69,879 Property and equipment, net 722 770 Operating lease right-of-use assets 1,423 1,590 Other assets 484 560 Total assets $ 64,616 $ 72,799 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 43,042 $ 39,831 Revolving line of credit 4,381 3,844 Accrued payroll and related liabilities 1,585 1,346 Accrued expenses and other current liabilities 3,559 2,569 Debt due within one year 377 — Total current liabilities 52,944 47,590 Operating lease liabilities 1,072 1,213 Other liabilities 249 237 Total liabilities 54,265 49,040 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.001 par value— 10,000 shares authorized: Series A preferred stock, $ 0.001 par value; 1,000 shares authorized; none issued and outstanding — — Common stock, $ 0.001 par value— 450,000 shares authorized; 255,589 (2024) and 253,593 (2023) shares issued and outstanding 256 254 Additional paid-in capital 310,886 307,328 Accumulated deficit ( 300,791 ) ( 283,823 ) Total stockholders' equity 10,351 23,759 Total liabilities and stockholders' equity $ 64,616 $ 72,799 See accompanying Notes to Condensed Consolidated Financial Statements. 3 Table of Contents NETLIST, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (Unaudited) (In thousands, except per share amounts) Three Months Ended March 30, April 1, 2024 2023 Net sales $ 35,807 $

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View this 10-Q filing on SEC EDGAR