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Netlist Reports Third Quarter 2026 Results

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Net sales rose 149% year over year to $105.1 million and included initial license fees from Samsung

Strengthened balance sheet with cash, cash equivalents and restricted cash rising to $327.7 million at quarter-end

IRVINE, Calif., Nov. 10, 2026 /PRNewswire/ — Netlist, Inc. (OTCQB: NLST), a leading innovator in advanced memory and storage solutions, today reported financial results for the third quarter ended September 26, 2026.

Third Quarter 2026 Highlights:

Net sales for the third quarter of 2026 were $105.1 million, an increase of 149% compared to the third quarter of 2025License fee revenue of $44.9 million was recognized in the third quarter of 2026 pursuant to the Samsung License Agreement, consisting of amortization of the upfront license fee and the first quarterly license fee.Net product sales for the third quarter of 2026 were $60.2 million, an increase of 43% compared to the third quarter of 2025.Gross margin for the third quarter of 2026 was 65.5%, an increase of over 61 percentage points compared to 4.4% in the third quarter of 2025, primarily reflecting license fee revenue, which has no associated cost of sales, and higher product gross margin.Operating income in the third quarter of 2026 was $40.6 million, which improved from an operating loss of $7.2 million in the third quarter of 2025.Net income for the third quarter of 2026 was of $85.4 million, or $0.22 per diluted share, compared to a net loss of $7.0 million, or $(0.02) per share, in the third quarter of 2025.Cash, cash equivalents and restricted cash rose to $327.7 million at September 26, 2026 from $40.7 million at June 27, 2026, primarily due to the initial cash payment of $200 million and first quarterly payment of $27.5 million by Samsung.

“We are pleased to report our third consecutive quarter of significant year-over-year revenue growth and improved profitability led by both product sales and the recognition of license revenue under our Samsung agreement,” said Chief Executive Officer, C.K. Hong.  “Year-over-year product revenue growth was driven by strong demand from customers in AI and data center applications.”

“Gross margins improved and was driven by our focus on higher margin opportunities,” said Gail Sasaki, Chief Financial Officer. “During the quarter, we substantially strengthened our balance sheet with the initial proceeds from our Samsung agreement and generated operating cash flow of $245 million.”

Conference Call Information

C.K. Hong, Chief Executive Officer, and Gail Sasaki, Chief Financial Officer, will host an investor conference call today, November 10, 2026 at 5:00 p.m. Eastern Time to review Netlist’s results for the third quarter ended September 26, 2026. The live webcast and archived replay of the call can be accessed for 90 days in the Investors section of Netlist’s website at www.netlist.com.

About Netlist

Netlist is a leading innovator in advanced memory and storage solutions. With a rich portfolio of patented technologies, Netlist’s inventions are foundational to the advancement of AI computing. To learn more about Netlist, please visit www.netlist.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this news release include, without limitation, statements about Netlist’s positioning to capitalize on next generation memory products, expected license revenue under its agreements with Samsung and Micron, and evaluations, implications of future growth or profitability and judgements regarding Netlist’s products and intellectual property portfolio. Forward-looking statements are statements other than historical facts and often address future events or Netlist’s future performance. They reflect management’s present expectations regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These risks, uncertainties and other factors include, among others, risks: Netlist may not be able to collect amounts owed to it pursuant to its agreements with Samsung and Micron and the amount of quarterly license fees payable under the revenue-based formula, which may be subject to adjustment; Netlist may suffer adverse outcomes in its litigation with Google or in its various other active proceedings to defend the validity of its patents; related to Netlist’s plans for its intellectual property, including its strategies for monetizing, licensing, expanding, and defending its patent portfolio, which efforts may not be successful; that other patent infringement litigation initiated by Netlist, or by others against Netlist, may not be successful or resolve favorably for Netlist, particularly given the costs and unpredictability of any such litigation; associated with Netlist’s product sales, including whether and how long the current market and demand for products sold by Netlist will persist or persist as expected and whether Netlist may successfully develop and launch new products that are attractive to the market; whether Netlist will continue to acquire components or products for resale on favorable terms; associated with the competitive landscape of Netlist’s industry, general economic, political and market conditions, factory slowdowns and/or shutdowns, and changes in international trade and tariff policies. All forward-looking statements reflect management’s present assumptions, expectations and beliefs regarding future events and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed in or implied by any forward-looking statements. These and other risks and uncertainties are described in Netlist’s Annual Report on Form 10-K for the fiscal year ended December 27, 2025, filed with the SEC on March 19, 2026, Quarterly Report on Form 10-Q for the quarter ended June 27, 2026, filed with the SEC on August 11, 2026, and the other filings it makes with the U.S. Securities and Exchange Commission from time to time, including any subsequently filed quarterly and current reports. In light of these risks, uncertainties and other factors, these forward-looking statements should not be relied on as predictions of future events. These forward-looking statements represent Netlist’s assumptions, expectations and beliefs only as of the date they are made, and except as required by law, Netlist undertakes no obligation to revise or update any forward-looking statements for any reason.

Investor Relations Contacts:

Monica Gould
The Blueshirt Group
monica@blueshirtgroup.com

Mike Smargiassi
The Plunkett Group
NLST@theplunkettgroup.com
(212) 739-6729

Gail M. Sasaki
Netlist, Inc., Chief Financial Officer
gsasaki@netlist.com
(949) 435-0025

NETLIST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands) (Unaudited)

September 26,

December 27,

2026

2025

ASSETS

Current assets:

Cash and cash equivalents

$

317,685

$

31,782

Restricted cash

10,000

10,300

Accounts receivable, net

4,969

2,411

Inventories

16,778

3,383

Prepaid expenses and other current assets

11,536

332

Total current assets

360,968

48,208

Property and equipment, net

285

300

Operating lease right-of-use assets

1,154

541

Deferred income taxes

89,088

—

Other assets

38,343

428

Total assets

$

489,838

$

49,477

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)

Current liabilities:

Accounts payable

$

71,145

$

20,612

Revolving line of credit

—

1,788

Accrued payroll and related liabilities

1,320

852

Deferred revenue

78,405

30,570

Other current liabilities

650

818

Total current liabilities

151,520

54,640

Deferred revenue, noncurrent

179,641

—

Operating lease liabilities

716

23

Other liabilities

17

17

Total liabilities

331,894

54,680

Commitments and contingencies

Stockholders’ equity (deficit):

Preferred stock

—

—

Common stock

379

308

Additional paid-in capital

424,581

357,001

Accumulated deficit

(267,016)

(362,512)

Total stockholders’ equity (deficit)

157,944

(5,203)

Total liabilities and stockholders’ equity

$

489,838

$

49,477

 

NETLIST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts) (Unaudited)

Three Months Ended

Nine Months Ended

September 26,

September 27,

September 26,

September 27,

2026

2025

2026

2025

Net product sales

$          60,194

$        42,234

$       274,931

$       112,915

License fee

44,910

—

44,910

—

Net sales

105,104

42,234

319,841

112,915

Cost of sales(1)

36,247

40,396

205,712

108,385

Gross profit

68,857

1,838

114,129

4,530

Operating expenses:

Research and development(1)

1,054

822

3,205

2,548

Intellectual property legal fees

16,211

5,035

41,938

15,542

Selling, general and administrative(1)

11,021

3,131

18,511

9,604

Total operating expenses

28,286

8,988

63,654

27,694

Operating income (loss)

40,571

(7,150)

50,475

(23,164)

Other income, net:

Interest income, net

864

106

945

459

Other income, net

31

34

94

130

Total other income, net

895

140

1,039

589

Income (loss) before income tax benefit

41,466

(7,010)

51,514

(22,575)

Income tax benefit

(43,982)

—

(43,982)

—

Net income (loss)

$          85,448

$         (7,010)

$         95,496

$        (22,575)

Loss per common share:

Basic

$             0.24

$           (0.02)

$             0.29

$            (0.08)

Diluted

$             0.22

$           (0.02)

$             0.26

$            (0.08)

Weighted-average common shares outstanding:

Basic

356,097

292,557

331,046

280,229

Diluted

393,420

292,557

368,377

280,229

(1) Amounts include stock-based compensation expense as follows:

Cost of sales

$                  2

$               12

$                49

$                62

Research and development

97

93

378

438

Selling, general and administrative

6,774

655

8,211

2,244

Total stock-based compensation

$           6,873

$             760

$           8,638

$           2,744

 

NETLIST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands, except per share amounts) (Unaudited)

Nine Months Ended

September 26,

September 27,

2026

2025

Cash flows from operating activities:

Net income (loss)

$

95,496

$

(22,575)

Adjustments to reconcile net income (loss) to net cash provied by (used in) operating

activities:

Depreciation and amortization

216

212

Non-cash lease expense

386

418

Gain on forgiveness of payables

(94)

(630)

Stock-based compensation

8,638

2,744

Deferred income taxes

(89,088)

—

Changes in operating assets and liabilities:

Accounts receivable

(2,558)

(2,483)

Inventories

(13,395)

(14,821)

Prepaid expenses and other assets

154

(11,031)

Accounts payable

17,672

(5,024)

Accrued payroll and related liabilities

468

57

Deferred revenue

227,476

26,934

Other liabilities

(380)

(1,796)

Net cash provided by (used in) operating activities

244,991

(27,995)

Cash flows from investing activities:

Acquisition of property and equipment

(185)

(25)

Net cash used in investing activities

(185)

(25)

Cash flows from financing activities:

Net borrowings (repayments) under line of credit

(1,788)

2,207

Payments on notes payable

(438)

(537)

Proceeds from issuance of common stock, net

1,000

12,571

Proceeds from exercise of stock options and warrants

42,023

75

Payments for taxes related to net share settlement of equity awards

—

(59)

Net cash provided by financing activities

40,797

14,257

Net change in cash, cash equivalents and restricted cash

285,603

(13,763)

Cash, cash equivalents and restricted cash at beginning of period

42,082

34,607

Cash, cash equivalents and restricted cash at end of period

$

327,685

$

20,844

Reconciliation of cash, cash equivalents and restricted cash at end of period:

Cash and cash equivalents

$

317,685

$

10,544

Restricted cash

10,000

10,300

Cash, cash equivalents and restricted cash at end of period

$

327,685

$

20,844

 

 

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SOURCE Netlist, Inc.

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Intouch Insight to Host Third Quarter Earnings Conference Call on November 19, 2026 at 10:00am ET

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OTTAWA, ON, Nov. 10, 2026 /CNW/ — Intouch Insight Ltd. (TSXV: INX) (OTCQX: INXSF) (“Intouch” or the “Company”), a provider of customer experience management solutions, today announced it will host a conference call and live webcast on November 19, 2026, at 10:00am Eastern Time to discuss the results of the third quarter 2026.

Conference Call Information

To participate in this event, register and log-in approximately 5 to 10 minutes before the beginning of the call.

Date: November 19, 2026
Time: 10:00 a.m. eastern time
Register for the live webcast and access on-demand recording: https://events.zoom.us/ev/Aq_AtYFwvnSkc7aeqsTFIC_LdYPICTnz8ZjPj_YseBMND0NNP7jE~AvG8jHOHsLPt1c2RaU-obNjJjkuGHfdJQz1kBIedcTx8Z58PrcUhkoG0iw

About Intouch Insight
Intouch Insight offers a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance. Intouch helps clients collect and centralize data from multiple customer touch points, gives them actionable, real-time insights, and provides them with the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America’s most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture and event marketing automation solutions. For more information, visit intouchinsight.com.

Certain statements included in this news release including those related to the Company’s quarterly results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature that depend upon or refer to future events or conditions, or that include words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward looking statements that are made of the date hereof, which by their nature are necessarily subject to risks and uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements reflect the Company’s current views with respect to future events, and are based on information currently available to the Company and on hypotheses which it considers to be reasonable; however, management warns the reader that hypotheses relative to future events which are beyond the control of management could prove to be false, given that they are subject to certain risks and uncertainties. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.com. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Intouch Insight Ltd.

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Media Advisory – Minister Hodgson to give keynote speech and participate in fireside chat with Southeast Alberta Chamber of Commerce

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MEDICINE HAT, AB, Nov. 10, 2026 /CNW/ — The Minister of Energy and Natural Resources, the Honourable Tim Hodgson, will deliver a keynote speech and participate in a fireside chat hosted by the Southeast Alberta Chamber of Commerce to discuss Budget 2026: Masters of our Destiny.  

Date: Thursday, November 12, 2026

Time: 10:30 a.m. ABT

All accredited media are asked to pre-register by emailing events@southeastalbertachamber.ca . Details on how to participate will be provided upon registration.

Follow Natural Resources Canada on LinkedIn

SOURCE Natural Resources Canada

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AI Opportunity Fund Expands AI Skills Training Across Asia Pacific with 28 Phase Three Local Implementing Partners

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AVPN is also launching the AI Opportunity Learning Platform, giving learners access to localised AI training and recommended learning pathways in 16 languages

SINGAPORE, Nov. 11, 2026 /PRNewswire/ — AVPN, Asia’s largest platform for social impact, today announced the 28 organisations selected as local implementing partners joining phase three of the AI Opportunity Fund: Asia-Pacific, supported by Google.org and the Asian Development Bank (ADB). The new cohort expands the Fund’s AI skills training into classrooms and workplaces across 19 markets, including through organisations participating in AI Ready ASEAN led by ASEAN Foundation.

Most of the new local implementing partners will work directly with K-12 teachers, university students and faculty, extending the Fund beyond today’s workforce to the educators shaping the next generation of workers. By building AI fluency among teachers and faculty, phase three is designed to carry that capability through successive cohorts of students. Other local implementing partners will reach healthcare workers, agricultural and service-sector workers, as well as employees of micro, small and medium-sized enterprises (MSMEs).

More information on the phase three organisations are here. Among the organisations receiving funding are:

Pratham Education Foundation (India) – works across schools and communities to improve education and prepare children and young people for a changing world. Pratham will train teachers to use AI critically in the classroom, adapting and localising content including Experience AI and Google for Education for its learners, alongside practical skills such as understanding when not to rely on AI tools.JA Korea (South Korea) – has trained 11,000 teachers over six years, and will pair Google’s AI training with formal certification for public school educators, with dedicated outreach to rural teachers. Classroom results will also feed into policy convenings with ministry officials, aiming to institutionalise national K-12 AI education policy, with dedicated outreach to give rural teachers equal access. AI Edu Corp (Vietnam) – a pioneer in digital skills training in Vietnam, AI Edu Corp has trained nearly 150,000 educators, students and workers since 2019. It has existing partnerships with Vietnam’s Ministry of Education and Training and will support efforts to embed AI literacy into teacher standards nationwide.

“AI tools are already entering classrooms and workplaces across Asia-Pacific. The challenge now is making sure people have the skills to use them well, and the judgement to know when not to be overly reliant on them. Phase Three takes that work further into the places where people learn and work, from schools and universities to healthcare, agriculture and small businesses,” said Naina Subberwal Batra, CEO at AVPN.

“Local organisations are central to making that happen. They understand the languages, communities and institutions they serve, and can adapt training in ways that a regional programme alone cannot. By also equipping educators, we have an opportunity for that knowledge to carry forward through successive generations of students,” she added.

A Single Point of Access to AI Learning

Today, AVPN is also launching the AI Opportunity Learning Platform, AVPN’s gateway to AI training programmes across Asia-Pacific. The platform connects learners with AI learning opportunities and resources designed and delivered by trusted local partners. Each programme is tailored to its target learners, kept up to date, and delivered in local languages, helping educators, students, workers, and MSMEs apply AI confidently and responsibly in their own fields.

Available in 16 languages, the platform will recommend a learning pathway based on a short assessment. Certification available upon completion of training. A Gemini-powered assistant will help users navigate the platform, answer questions about it and provide guided learning.

For Phase 3, AVPN has brought on a new strategic partner, the Raspberry Pi Foundation. The Foundation will work with local implementing partners to localise Experience AI content for their markets and languages, while providing training and guidance on using the content. Another new strategic partner is the Ayala Foundation, who will provide access to Google AI learning resources for educators and students in the Philippines. Additionally, Ayala Foundation will support the AI Opportunity Fund’s local implementing partners in the Philippines to access more opportunities for organisational growth.

“Access to AI skills depends on whether people can find training that is relevant to them, in a language and setting that works for them. The 28 organisations joining Phase Three bring that local knowledge, whether they are working with teachers, students, healthcare workers or small businesses,” said Marija Ralic, Head of Google.org APAC.

“The AI Opportunity Learning Platform extends that approach. By bringing training and local partners together in one place and making it available in 16 languages, we can make it easier for learners across Asia-Pacific to find relevant training and connect with organisations in their market.”

Launched in 2024 with a USD 15 million commitment, the Fund received a further USD 10 million in Phase Two in May 2025 and another USD 10 million in Phase Three in May 2026, bringing Google.org’s total commitment to USD 35 million.

To date, the Fund has trained more than 850,000 workers and 63,000 small businesses across Asia-Pacific, working through almost 60 local implementing partner organisations and delivering programmes in more than 30 local languages.

About AVPN

AVPN is Asia’s largest platform for social impact, where close to 1,000 resource providers, innovators and intermediaries from across 48 markets collaborate to mobilise capital.  Grounded in deep regional expertise and partnerships, AVPN is building a thriving ecosystem that accelerates measurable progress toward inclusive growth, empowering Asia to lead the way in global impact. AVPN’s mission is to translate intent into impact by bringing together people, ideas, and resources for Asia. We do this by strengthening partnerships, fostering open collaboration, and enabling the coordinated flow of resources across markets and borders. Together with our community, AVPN is building a thriving impact ecosystem that drives a prosperous and inclusive Asia.

For more information about AVPN and our work, please visit our website and read our latest Annual Review.

About Google.org

Google.org, Google’s philanthropy, brings the best of Google to help solve some of humanity’s biggest challenges combining funding, product donations and technical expertise to support underserved communities and provide opportunity for everyone. We engage nonprofits, social enterprises and civic entities who make a significant impact on the communities they serve, and whose work has the potential to produce scalable, meaningful change.

 

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SOURCE AVPN

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