Filing Flows › Netlist (NLST) › Q2 2026
Netlist (NLST) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 11, 2026
Netlist (NLST) reported revenue of $110M for the second quarter 2026 (Q2 2026), +163% from a year earlier and +5% from the quarter before. Operating margin was 1.2%, net earnings $1.4M (1.3% of revenue).
Netlist, Q2 2026: revenue $110M (+163% year over year), operating margin 1.2%, net earnings $1.4M, operating cash flow $3.3M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $110M | +5% | +163% |
| Gross profit | $22.9M | +2% | 16× |
| Operating profit | $1.3M | -84% | — |
| Net earnings | $1.4M | -84% | — |
| Operating cash flow | $3.3M | — | — |
What changed
Revenue was $109.8M in Q2 2026, up 163% year over year and up 5% from the previous quarter. Resales of third-party products was the largest line at 94% of revenue. Resales of third-party products added $63.5M year over year (up 158%), 93% of the total change.
Gross margin was 20.8%, up 17.5 points from Q2 2025. Operating profit was $1.3M, a 1.2% margin (up 16.2 points year over year). Operating expenses grew 182% against revenue growth of 163%. The fastest-growing cost line was Other operating costs (+381%). Net earnings were $1.4M. The effective tax rate was 0.0%.
Operating cash flow was $3.3M, 236% of net earnings. Non-cash charges added back $69K of depreciation and amortization and $809K of share-based compensation. Working capital and other items added $1.0M.
Questions
What was Netlist's revenue in the second quarter 2026?
Netlist (NLST) reported revenue of $110M for the second quarter 2026 (Q2 2026), +163% from a year earlier and +5% from the quarter before.
Was Netlist profitable in the second quarter 2026?
Operating profit was $1.3M (1.2% of revenue) and net earnings $1.4M.
Source: Netlist 10-Q on SEC EDGAR.