IRVINE, CA / ACCESSWIRE / November 2, 2021 / Netlist, Inc. (OTCQB:NLST) today reported financial results for the third quarter ended October 2, 2021 .
Revenue for the third quarter ended October 2, 2021 was $26.7 million which was up 162% year over year. Net loss for the third quarter ended October 2, 2021 was ($10.7) million , or loss per share of ( $0.05 ), compared to a net loss in the prior year's period of ($2.1) million , or a loss per share of ( $0.01 ). These results include stock-based compensation expense of $0.4 million for the quarter ended October 2, 2021 and $0.2 million for the quarter ended September 26, 2020 .
As of October 2, 2021 , cash, cash equivalents and restricted cash was $73.2 million , total assets were $98.9 million , working capital was $47.2 million , total debt and accrued interest, net of debt discount, was $21.2 million , and stockholders' equity was $47.9 million .
"Third quarter revenue more than doubled compared to the prior year period, while investments in sales, research and development, and legal activities tempered bottom line results. The recent summary judgement in the case against Samsung was a major victory for Netlist . We look forward to the hearing on November 10 th in the case against Google which will address the question of intervening rights," said Netlist's Chief Executive Officer, C.K. Hong .
Conference Call Information
C.K. Hong , Chief Executive Officer, and Gail Sasaki , Chief Financial Officer, will host an investor conference call today, November 2, 2021 at 12:00 p.m. Eastern Time to review Netlist's results for the third quarter 2021. 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.
About Netlist
Netlist provides high-performance SSDs and modular memory subsystems to enterprise customers in diverse industries. The Company's NVMe™ SSD portfolio provides industry-leading performance offered in multiple capacities and form factors. Netlist also manufactures a line of specialty and legacy memory products to storage customers, appliance customers, system builders and cloud and datacenter customers. Netlist holds a portfolio of patents in the areas of server memory, hybrid memory, storage class memory, rank multiplication and load reduction. To learn more, visit www.netlist.com.
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