Netlist, Inc.

This article is about the memory company. For the electronics term, see Netlist.
Netlist, Inc.
Company typePublic
OTCQB: NLST[1]
IndustryTech Hardware & Semiconductors[2]
Founded2000; 24 years ago (2000)
FounderHong Chun-ki
HeadquartersIrvine, California, U.S.
Area served
Worldwide
Key people
Hong Chun-ki (CEO and director)[3] Gail Sasaki (CFO and EVP)[3]
RevenueIncrease US$ 142.4 million (2021)[4]
Increase US$ 4.8 million (2021)[4]
Total assetsIncrease US$ 91.2 million (2021)[4]
Total equityIncrease US$ 54.0 million (2021)[4]
Number of employees
Increase 120 (2021)
Websitenetlist.com

Netlist, Inc. is a Delaware-registered corporation headquartered in Irvine, California that designs and sells high-performance SSDs and modular memory subsystems to enterprise customers in diverse industries. It also manufactures a line of specialty and legacy memory products to storage customers, appliance customers, system builders and cloud and datacenter customers.[5] Netlist holds a portfolio of patents in the areas of server memory, hybrid memory, storage class memory, rank multiplication and load reduction.[6] Netlist has more than 120 employees and an annual revenue of US$142.4 million as of 2021[4] The stock was added to NASDAQ in late 2006.[7] In the initial public offering of its common stock in 2006, Netlist sold 6,250,000 shares at $7.00 each.[8] On September 26, 2018, Netlist announced they were moving from NASDAQ and currently trades on the OTCQB.[9]

As of 2019, Netlist was reportedly in favorable claim for patents infringed upon by Google[10] and South Korean Company, SK Hynix.[11] The company, founded by former LG Corporation employee Hong Chun-ki[12] (also named Chun Ki Hong[13] and Chun K. Hong) in 2000, entered a product supply and technological joint development agreement with Samsung Electronics in 2015.[14] In 2020, Netlist brought a lawsuit against Samsung in the Federal District Court for allegedly breaching its obligations under that agreement.[15] On February 15, 2022, the United States District Court Judge Mark C. Scarsi issued a Judgement in Netlist's favor on all counts, and expressly confirmed that any license Samsung had previously enjoyed to Netlist's patent was effectively terminated.[16]

As of August 2023, Netlist has secured a $303M jury verdict against Samsung for violation of patents. On August 15, 2023, Netlist put out a direct offering of shares for $30M of funding being managed by Roth Capital.[17] This has caused a 40% crash in the stock price.[citation needed]

  1. ^ "Netlist Reports Second Quarter 2021 Results". Yahoo Finance. Yahoo Finance. Retrieved 30 September 2021.
  2. ^ "Netlist Inc". Bloomberg.
  3. ^ a b "Leadership". Netlist.
  4. ^ a b c d e "Netlist, Inc. Financials". Netlist Investor Relations.
  5. ^ "Inline XBRL Viewer".
  6. ^ "Netlist, Inc. Stock News and Filings".
  7. ^ Chris Casacchia (May 11, 2011). "Netlist Reports Mixed Q1 Results".
  8. ^ "NASDAQ Netlist Inc (NLST) IPO". 2006-11-30.
  9. ^ "OTC Markets Group Welcomes Netlist, Inc. To OTCQX".
  10. ^ "Google Loses Appeal in Google, LLC vs Netlist, Inc".
  11. ^ Michael Herh (2018-09-11). "SK Hynix in an Unfavorable Position in Patent Infringement Suit with Netlist". Business Korea. Retrieved 2019-03-21.
  12. ^ Cho Jin-young (2016-10-06). "U.S. ITC Investigates SK Hynix for Patent Infringement". Business Korea. Retrieved 2017-08-17.
  13. ^ LexisNexis Corporate Affiliations: U.S. Public Companies. 2009. p. 1612. Retrieved 2017-08-21 – via Google Books.
  14. ^ "Netlist likely to sue SK hynix". The Korea Herald. 2017-05-30. Retrieved 2017-08-21.
  15. ^ "Netlist Inc. V. Samsung Electronics Co., Ltd".
  16. ^ "Netlist Prevails Against Samsung in Federal Court".
  17. ^ "NETLIST ANNOUNCES $30 MILLION REGISTERED DIRECT OFFERING". investors.netlist.com. Netlist, Inc. Retrieved 19 August 2023.