Netlist Inc. (OTCMKTS: NLST) Reports Revenue of $64.4 Million in Q2 2021

Netlist Inc. (OTCMKTS: NLST) has announced its Q2 2021 financial results for the period ended July 3, 2021. The company reported revenue of $64.4 million comprising licensing fee revenue of $40 million and product revenue of $24.4 million which was up 123% QoQ and 64% simultaneously.

Netlist Reports Q2 2021 net income of $27.8 million

For Q2 2021, the company’s net income was $27.8 million or $0.13 per share relative to a net loss of $1.8 million or $0.01 per share a year ago. The earnings were impacted by stock-based compensation costs of $0.4 million during the quarter and $0.2 million for the quarter ending June 27, 2020.

At the end of the quarter, the company had $54.4 million in restricted cash, cash, and equivalents, total assets of $72.9 million, and working capital of around $35.2 million. Notably, accrued interest and total debt were $17.4 million, with shareholder equity being $35.9 million.

Netlist CEO C.K Hong said, “During the quarter, we delivered record financial results from strong product sales and the execution of a comprehensive licensing agreement with SK hynix. With this renewed momentum, we’re excited to ramp investments in strategic areas of the business while remaining focused on the intellectual property enforcement actions against infringing parties.”

Netlist entered an agreement with SK Hynix

The company announced an agreement with SK Hynix Inc. in April this year for a patent cross-license that covers memory technologies and a deal for SK Hynix products supply and technical collaboration on the CXL HybriDIMM technology of Netlist.

Hong said at the time, “We are delighted with the recognition of the value of Netlist’s intellectual property and very much look forward to partnering with SK hynix, a global leader in memory and storage technology.”
The agreements give SK Hynix access to Netlist’s patent portfolio in the United States and elsewhere. In addition, SK Hynix will pay Netlist a royalty and a cross-license to its patent portfolio.

Friedrich Claassens

Leave a Comment
Published by
Friedrich Claassens

Recent Posts

Rwanda releases UPDF soldier of Special Forces Command two months after his arrest

Rwandan government on January 22 released an Uganda People's Defence Forces (UPDF) soldier attached to… Read More

5 hours ago

Tigray: Ethiopian army trying to eliminate security forces, says military officials

A year behind the outbreak of the war in Tigray, Ethiopia, the United Nations Security… Read More

5 hours ago

Failure in talks between Kenya-Dubai leads to continuation in flight ban

The ban on flights between Kenya and the UAE (United Arab Emirates) will continue after… Read More

2 days ago

Public harassment blows wave of solidarity among women in Egypt

Persecution, prosecution, and public shaming have blown a new wave of solidarity among women in… Read More

2 days ago

Nigerian extremists kills two and abducts 20 children, says residents

Nigeria: Extremist puts two people on the bounds of death and kidnapped 20 children in… Read More

2 days ago

UN relief chief promises to support in uplifting Nigeria

The UN, humanitarian affairs chief, travelled to the Nigeria to see the humanitarian situation, see… Read More

2 days ago