" Netlist delivered another quarter of strong product revenue and gross profit growth," said Chief Executive Officer, C.K. Hong . "We continue to benefit from strategic supply relationships and an expanding customer base. Intellectual property enforcement actions are making steady progress, and we remain committed to the fair licensing of our unique technologies."
Net product sales for the second quarter ended July 2, 2022 were $55.4 million , compared to net product sales of $24.4 million for the second quarter ended July 3, 2021 and $50.2 million in the most recent quarter. Product gross profit for the second quarter ended July 2, 2022 was $4.7 million , compared to a product gross profit of $2.9 million for the second quarter ended July 3, 2021 and $3.4 million for the most recent quarter.
Total net sales for the second quarter ended July 2, 2022 was $55.4 million , compared to total net sales of $64.4 million for the second quarter ended July 3, 2021 . Net loss for the second quarter ended July 2, 2022 was ($5.0) million , or ( $0.02 ) per share, compared to a net income in the prior year period of $27.8 million , or $0.12 per diluted share. These results include stock-based compensation expense of $0.8 million and $0.4 million for the quarters ended July 2, 2022 and July 3, 2021 , respectively.
As of July 2, 2022 , cash, cash equivalents and restricted cash was $60.6 million , total assets were $99.6 million , working capital was $46.3 million , total debt was $8.2 million , and stockholders' equity was $47.9 million .
Conference Call Information
C.K. Hong , Chief Executive Officer, and Gail Sasaki , Chief Financial Officer, will host an investor conference call today, August 2, 2022 at 12:00 p.m. Eastern Time to review Netlist's results for the second quarter ended July 2, 2022 . The live webcast and archived replay of the call can be accessed for 90 days in the Investors section of Netlist's website at www.netlist.com.
