Netlist

Second quarter sales hit 109.8 million dollars, up 163 percent from a year ago, and that is on top of the huge first quarter. Halfway through 2026 the company has already sold 214.7 million dollars worth, more than triple the 70.7 million dollars it did in the same stretch last year.

Netlist earned 1.4 million dollars in the quarter, versus a loss of 6.1 million dollars a year ago, making it two profitable quarters in a row and 10 million dollars for the half. Gross profit jumped to 22.9 million dollars from just 1.4 million dollars, and the balance sheet flipped from a 5.2 million dollar hole to 23.2 million dollars of positive equity.

Patent legal fees exploded to 16.8 million dollars in a single quarter, up from 3.5 million dollars a year ago, and that swallowed nearly all of the 22.9 million dollars in gross profit. The court awards Netlist is chasing from Samsung and Micron are still stuck in appeals, and if those go badly, the spending has no payoff.

Netlist keeps only about 21 cents of every sales dollar as gross profit, which is slim, and it made just 1.4 million dollars on 109.8 million dollars of sales. Inventory also ballooned to 26.9 million dollars while accounts payable hit 41.4 million dollars. The stock trades over the counter, not on a big exchange, so expect thin trading and wild swings.