Netlist Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2016 - 2020
Period Ending	Sep '25 Sep 27, 2025	Dec '24 Dec 28, 2024	Dec '23 Dec 30, 2023	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022	Jan '21 Jan 2, 2021	2016 - 2020
Net Income	-35.29	-53.87	-60.4	-33.37	4.83	-7.27	Upgrade
Depreciation & Amortization	0.32	0.35	0.37	0.34	0.13	0.15	Upgrade
Other Amortization	-	-	-	-	0.23	0.21	Upgrade
Stock-Based Compensation	3.55	4.44	4.34	3.21	1.58	0.76	Upgrade
Other Operating Activities	-0.55	0.1	0.64	0.64	0.03	0.94	Upgrade
Change in Accounts Receivable	-2.49	2.89	3.68	4.49	-8.05	-1.01	Upgrade
Change in Inventory	-13.8	9.29	-1.35	4.98	-12.47	0.3	Upgrade
Change in Accounts Payable	3.1	2.48	11.36	2.58	20.17	-3.81	Upgrade
Change in Unearned Revenue	21.06	0.04	-	-	-	-	Upgrade
Change in Other Net Operating Assets	-12.97	-0.29	-0.25	2.13	-0.44	1.59	Upgrade
Operating Cash Flow	-37.08	-34.59	-41.6	-15	6.01	-8.13	Upgrade
Capital Expenditures	-0.03	-0.07	-	-0.47	-0.52	-0.04	Upgrade
Investing Cash Flow	-0.03	-0.07	-	-0.47	-0.52	-0.04	Upgrade
Short-Term Debt Issued	-	-	-	-	3.32	0.69	Upgrade
Long-Term Debt Issued	-	-	-	-	-	0.64	Upgrade
Total Debt Issued	2.21	-	-	-	3.32	1.33	Upgrade
Short-Term Debt Repaid	-	-2.61	-1.09	-2.07	-	-	Upgrade
Long-Term Debt Repaid	-	-0.59	-0.66	-0.69	-17.11	-0.44	Upgrade
Total Debt Repaid	-0.87	-3.2	-1.75	-2.76	-17.11	-0.44	Upgrade
Net Debt Issued (Repaid)	1.34	-3.2	-1.75	-2.76	-13.79	0.88	Upgrade
Issuance of Common Stock	26.92	19.64	52.58	4.72	51.39	12.21	Upgrade
Repurchase of Common Stock	-0.07	-0.02	-	-1.37	-1.14	-0.1	Upgrade
Financing Cash Flow	28.18	16.42	50.84	0.59	36.47	12.99	Upgrade
Net Cash Flow	-8.92	-18.24	9.23	-14.87	41.95	4.81	Upgrade
Free Cash Flow	-37.11	-34.66	-41.6	-15.46	5.49	-8.18	Upgrade
Free Cash Flow Margin	-25.21%	-23.56%	-60.11%	-9.57%	3.85%	-17.31%	Upgrade
Free Cash Flow Per Share	-0.13	-0.13	-0.17	-0.07	0.02	-0.04	Upgrade
Cash Interest Paid	0.05	0.1	0.05	0.09	0.06	0.07	Upgrade
Cash Income Tax Paid	-	0	0	0	6.6	-	Upgrade
Levered Free Cash Flow	-6.81	8.25	13.13	0.94	12.34	-6.46	Upgrade
Unlevered Free Cash Flow	-6.81	8.25	13.13	0.94	12.47	-6.34	Upgrade
Change in Working Capital	-5.11	14.4	13.45	14.18	-0.79	-2.93	Upgrade

Updated Sep 27, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.