Netlist Inc. Q2 2024: Assets Rise, Financial Details Revealed
Ticker: NLST · Form: 10-Q · Filed: Aug 6, 2024 · CIK: 1282631
Sentiment: neutral
Topics: financials, balance-sheet, quarterly-report
TL;DR
Netlist's Q2 assets up to $256.6M, equity details updated.
AI Summary
Netlist Inc. reported its Q2 2024 results for the period ending June 29, 2024. The company's total assets were $256.6 million, a slight increase from $240.4 million in the prior year. Revenue for the quarter was not explicitly stated, but the filing details changes in common stock, retained earnings, and additional paid-in capital across various reporting periods.
Why It Matters
This filing provides a snapshot of Netlist Inc.'s financial health and changes in its equity structure, which are crucial for investors to assess the company's stability and growth prospects.
Risk Assessment
Risk Level: medium — The filing contains detailed financial data, but lacks specific revenue and profit figures for the current quarter, requiring further investigation for a complete picture.
Key Numbers
- $256.6M — Total Assets (As of June 29, 2024, indicating a slight increase from the previous year.)
- $240.4M — Total Assets (As of December 28, 2023, serving as a comparison point for asset growth.)
- $255.8M — Total Assets (As of March 30, 2024, showing sequential asset changes.)
- $237.8M — Total Assets (As of April 1, 2023, for year-over-year comparison.)
Key Players & Entities
- NETLIST INC (company) — Filer
- 20240629 (date) — Conformed Period of Report
- 20240806 (date) — Filed as of Date
- $256,571,000 (dollar_amount) — Total Assets as of June 29, 2024
- $240,382,000 (dollar_amount) — Total Assets as of December 28, 2023
FAQ
What were Netlist Inc.'s total assets as of June 29, 2024?
As of June 29, 2024, Netlist Inc.'s total assets were $256,571,000.
How did Netlist Inc.'s total assets change from December 28, 2023, to June 29, 2024?
Total assets increased from $240,382,000 on December 28, 2023, to $256,571,000 on June 29, 2024.
What is the filing date for this 10-Q report?
This 10-Q report was filed on August 6, 2024.
What is the fiscal year end for Netlist Inc.?
Netlist Inc.'s fiscal year ends on December 28.
What was the reported value for Property, Plant and Equipment, Net as of June 29, 2024?
The filing indicates a value of $0.12 for Property, Plant and Equipment, Net as of June 29, 2024.
Filing Stats: 4,555 words · 18 min read · ~15 pages · Grade level 12.9 · Accepted 2024-08-06 09:00:28
Filing Documents
- nlst-20240629x10q.htm (10-Q) — 1587KB
- nlst-20240629xex31d1.htm (EX-31.1) — 17KB
- nlst-20240629xex31d2.htm (EX-31.2) — 17KB
- nlst-20240629xex32d1.htm (EX-32.1) — 12KB
- nlst-20240629x10q001.jpg (GRAPHIC) — 5KB
- 0001558370-24-010966.txt ( ) — 5760KB
- nlst-20240629.xsd (EX-101.SCH) — 35KB
- nlst-20240629_cal.xml (EX-101.CAL) — 47KB
- nlst-20240629_def.xml (EX-101.DEF) — 131KB
- nlst-20240629_lab.xml (EX-101.LAB) — 279KB
- nlst-20240629_pre.xml (EX-101.PRE) — 237KB
- nlst-20240629x10q_htm.xml (XML) — 926KB
— 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 27 Item 4
Controls and Procedures
Controls and Procedures 27
— OTHER INFORMATION
PART II. — OTHER INFORMATION Item 1
Legal Proceedings
Legal Proceedings 29 Item 1A
Risk Factors
Risk Factors 29 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 58 Item 3 Defaults Upon Senior Securities 58 Item 4 Mine Safety Disclosures 58 Item 5 Other Information 59 Item 6 Exhibits 60
SIGNATURES
SIGNATURES 61 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) (Unaudited) June 29, December 30, 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 23,806 $ 40,445 Restricted cash 12,600 12,400 Accounts receivable, net of allowances of $ 111 (2024) and $ 68 (2023) 5,358 4,562 Inventories 8,206 12,031 Prepaid expenses and other current assets 3,178 441 Total current assets 53,148 69,879 Property and equipment, net 668 770 Operating lease right-of-use assets 1,271 1,590 Other assets 469 560 Total assets $ 55,556 $ 72,799 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accounts payable $ 26,561 $ 39,831 Revolving line of credit 4,591 3,844 Accrued payroll and related liabilities 1,321 1,346 Deferred revenue 17,624 — Other current liabilities 4,353 2,569 Total current liabilities 54,450 47,590 Operating lease liabilities 930 1,213 Other liabilities 359 237 Total liabilities 55,739 49,040 Commitments and contingencies Stockholders' equity (deficit): 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; 257,746 (2024) and 253,593 (2023) shares issued and outstanding 258 254 Additional paid-in capital 315,128 307,328 Accumulated deficit ( 315,569 ) ( 283,823 ) Total stockholders' equity (deficit) ( 183 ) 23,759 Total liabilities and stockholders' equity (deficit) $ 55,556 $ 72,799 See accompanying Notes to Condensed Consolidated Financial Statements. 3 Table of Contents NETLIST, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months End