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Netlist vs Ambarella: NLST and AMBA compared
Netlist is the larger company: $110M of revenue in its latest quarter (Q2 2026) against $108M for Ambarella (Q2 FY27). Netlist is growing faster (+163% against +13% a year earlier). Netlist is more profitable, with an operating margin of 1.2% against -7.5%.
Where the money goes: NLST and AMBA
Netlist (NLST) · Q2 2026
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.
Ambarella (AMBA) · Q2 FY27
Ambarella, Q2 FY27: revenue $108M (+13% year over year), operating margin -7.5%, net loss $6.7M, operating cash flow −$260K. The chart follows the revenue to costs, profit and cash.
| Netlist (NLST) | Ambarella (AMBA) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 FY27 |
| Revenue | $110M | $108M |
| Revenue growth, Y/Y | +163% | +13% |
| Gross margin | 20.8% | — |
| Operating margin | 1.2% | -7.5% |
| Net earnings | $1.4M | −$6.7M |
| Net margin | 1.3% | -6.2% |
| Operating cash flow | $3.3M | −$260K |
Where the revenue comes from
Netlist
- Resales of third-party products: $104M (94%)
- Sale of our modular memory subsystems: $6.1M (6%)
Questions
Which is bigger, Netlist or Ambarella?
Netlist is the larger company: $110M of revenue in its latest quarter (Q2 2026) against $108M for Ambarella (Q2 FY27).
Is Netlist or Ambarella growing faster?
Netlist is growing faster (+163% against +13% a year earlier).
Which is more profitable, Netlist or Ambarella?
Netlist is more profitable, with an operating margin of 1.2% against -7.5%.
More: Netlist earnings · how Netlist makes money · Ambarella earnings · how Ambarella makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 11, 2026; 10-Q filed Sep 4, 2026). Fiscal quarters can end on different dates. Not investment advice.