The earnings call presented a mix of positive financial performance and product innovation against the backdrop of ongoing legal challenges with Samsung. Netlist is showing growth and strength in its market positioning but faces significant legal and operational hurdles.

Company Guidance

During the Netlist Third Quarter 2025 Earnings Conference Call, the company provided an optimistic outlook for future growth, driven by market dynamics and strategic initiatives. Netlist highlighted the ongoing memory market shortage, expected to persist until 2027, with AI-related demand significantly increasing DRAM and NAND pricing. The company is well-positioned to leverage these trends with innovative products like the Lightning DDR5 DIMM, aimed at high-performance markets such as quantitative trading. Netlist anticipates these products will contribute significantly to revenue in the coming year, with some qualifications by major OEMs and integrators expected to complete by year-end. The company also discussed active legal proceedings to defend its intellectual property, including recent actions against Samsung, Google, and Supermicro at the ITC, and multiple successful jury verdicts yielding $866 million in damages over patent infringements. Financially, Netlist reported Q3 2025 revenue of $42.2 million, a 25% reduction in quarterly net loss year-over-year, and strong liquidity with $20.8 million in cash and cash equivalents, buttressed by a recent $10 million direct offering and available credit lines.

Strong Revenue Performance

Revenue for Q3 2025 was $42.2 million, reflecting solid demand from OEM and resale customers. Expected to slightly increase in Q4 2025.

Operating Expense and Net Loss Improvement

Operating expenses declined by 17% compared to the prior year's quarter and by 38% on a 9-month basis. Net loss improved by 25% compared to the prior year's quarter and by 45% for the 9-month period.

Cash Position and Financial Flexibility

Netlist ended Q3 2025 with $20.8 million in cash and cash equivalents. Raised $10 million through a direct offering and has approximately $74 million available on the equity line of credit.

Product Innovation and Market Positioning

Netlist is well-positioned in the memory market with innovative IP and custom memory solutions such as Lightning DDR5 DIMM for servers and CXL-based solutions like CXL NVDIMM and low-power MRDIMM.

Netlist (NLST) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

NLST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 03, 2026	2025 (Q4)	-0.01 / -	-0.047	―	―	―
Nov 06, 2025	2025 (Q3)	-0.01 / -0.02	-0.036	52.78% (+0.02)	―
Aug 07, 2025	2025 (Q2)	-0.02 / -0.02	-0.056	71.43% (+0.04)	―
May 06, 2025	2025 (Q1)	-0.02 / -0.03	-0.07	62.86% (+0.04)	―
Mar 27, 2025	2024 (Q4)	-0.03 / -0.05	-0.05	6.00% (<+0.01)	―
Oct 29, 2024	2024 (Q3)	-0.05 / -0.04	-0.065	44.62% (+0.03)	―
Jul 30, 2024	2024 (Q2)	-0.05 / -0.06	-0.06	6.67% (<+0.01)	―
Apr 25, 2024	2024 (Q1)	-0.05 / -0.07	-0.065	-7.69% (>-0.01)	―
Feb 13, 2024	2023 (Q4)	-0.07 / -0.05	-0.056	10.71% (<+0.01)	―
Oct 31, 2023	2023 (Q3)	-0.05 / -0.07	-0.036	-80.56% (-0.03)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NLST Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 06, 2025	$0.63	$0.61	-2.07%
Aug 07, 2025	$0.69	$0.70	+2.18%
May 06, 2025	$0.87	$0.89	+1.61%
Mar 27, 2025	$1.06	$1.05	-1.41%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Netlist (NLST) report earnings?

Netlist (NLST) is schdueled to report earning on Mar 03, 2026, After Close (Confirmed).

What is Netlist (NLST) earnings time?

Netlist (NLST) earnings time is at Mar 03, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is NLST EPS forecast?

NLST EPS forecast for the fiscal quarter 2025 (Q4) is -0.01.

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