The following is a summary of the Netlist, Inc. (NLST) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Netlist reported a Q1 product revenue of $36 million, representing an increase of 300% from the same period in the previous year.

• Total revenues for the quarter rose by 297% to reach $35.8 million, compared to $9 million in the year-ago period.

• The company foresees a moderate boost in revenue for Q2 2024 in comparison to Q1 2024.

• There was a decrease in cash and cash equivalents and restricted cash at the quarter-end, standing at $41.1 million compared to approximately $53 million at the end of 2023.

Business Progress:

• Following disappointing outcomes concerning their patents at the Patent Trial and Appeal Board, Netlist is considering an appeal to the U.S. Federal Circuit Court of Appeals.

• The company estimates the Federal Circuit appeal process to last 18 to 24 months.

• Two federal jury trials are marked for May: the breach of contract case against Samsung and the patent infringement case against Micron.

• The company intends to continue benefiting from the favorable conditions in the memory market.

• There are future strategic plans revolving around the development of Cloud ExpressLink (CXL).

More details: Netlist IR

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