Netlist Q2 2026: Revenue Jumps 163% to $109.8M, Swings to Profit
NLST has more than doubled off its 52-week low of $0.446.
Summary
Netlist posted Q2 2026 revenue of $109.8 million, up 163% year-over-year, and net income of $1.4 million—its second consecutive profitable quarter. The results highlight robust demand for AI memory solutions and effective IP defense.
Key Events · Earnings and Guidance · NLST
-
Revenue More Than Doubles
Q2 2026 net sales reached $109.8 million, a 163% increase from $41.7 million in Q2 2025. For the first half, sales totaled $214.7 million, up 204% year-over-year.
-
Profitability Sustained
Net income was $1.4 million in Q2 2026, compared to a $6.1 million loss a year ago. Six-month net income hit $10.0 million, or $0.03 per diluted share, versus a $15.6 million loss in the prior period.
-
Gross Margin Expansion
Gross profit surged to $22.9 million in Q2 2026 from $1.4 million in Q2 2025, with gross margin improving to 20.8% from 3.3%, reflecting higher-margin product mix and operating leverage.
-
Legal Costs Remain Elevated
Intellectual property legal fees rose to $16.8 million in Q2 2026 from $3.5 million a year ago, as the company continues to aggressively defend its patent portfolio against Samsung and Google.
Analysis · NLST · Manufacturing
A second straight quarter of explosive growth underscores the turnaround now firmly underway, with revenue more than doubling year-over-year and the bottom line staying in the black. AI memory demand and ongoing IP monetization are the twin engines, while gross margin expanded dramatically and the balance sheet shows improved liquidity—though legal costs remain elevated. This filing confirms that operational momentum is accelerating, not a one-quarter fluke.
At the time of this filing, NLST was trading at $2.37 on OTC in the Manufacturing sector, with a market capitalization of approximately $815M. The 52-week trading range was $0.45 to $3.97. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.