Netlist (NLST) Operating Expenses (2010 - 2026)
Netlist (NLST) posted Operating Expenses of $21.54 million for Q2 2026, up 182.0% from $7.64 million a year earlier and up 55.8% from the prior quarter.
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Analysis
Netlist (NLST) Operating Expenses (2010 - 2026) Analysis & Trends
For the trailing twelve months through Jun 27, 2026, Operating Expenses at Netlist was $53.61 million, up 25.1% year-over-year; for FY2025, it came in at $36.95 million, down 36.4% from FY2024.
- Annual Operating Expenses shows a four-year compound annual growth rate of -0.4% (FY2021 to FY2025).
- In prior years, Netlist's Operating Expenses was $58.11 million in FY2024 (-9.4%), $64.15 million in FY2023 (+41.3%), $45.39 million in FY2022 (+21.0%) and $37.51 million in FY2021.
- The Q2 2026 figure stands as the highest quarterly Operating Expenses since Q4 2021.
- On a year-over-year basis, Operating Expenses increased in two of the last eight quarters, with growth averaging 2.2%.
- The strongest year-over-year quarter for Operating Expenses in the past five years was Q2 2026, with growth of 182.0%; the weakest was Q2 2025, with a decline of 51.8%.
- According to Business Quant data, Operating Expenses for the three prior quarters was $13.82 million (Q1 2026), $9.26 million (Q4 2025) and $8.99 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,874.86 Bn | 4,622.35 Bn | 54.77 Bn | 19.08 Bn |
| 2 | Cisco Systems | 442.74 Bn | 378.67 Bn | 11.06 Bn | 6.80 Bn |
| 3 | Dell Technologies | 360.03 Bn | 315.78 Bn | 9.83 Bn | 4.45 Bn |
| 4 | Arista Networks | 261.51 Bn | 214.96 Bn | 1.91 Bn | 532.30 Mn |
| 5 | Sandisk | 251.12 Bn | 239.64 Bn | 7.58 Bn | 545.00 Mn |
| 6 | Seagate Technology Holdings | 192.54 Bn | 187.54 Bn | 1.90 Bn | 2.07 Bn |
| 7 | Western Digital | 149.92 Bn | 138.05 Bn | 2.03 Bn | 465.00 Mn |
| 8 | Sony | 146.49 Bn | 96.88 Bn | 6.53 Bn | 14.83 Bn |
| 9 | Lumentum Holdings | 96.17 Bn | 87.98 Bn | 477.30 Mn | 198.00 Mn |
| 10 | Netlist | 1.88 Bn | 1.79 Bn | 22.88 Mn | 21.54 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 27, 2026 | 21.54 Mn |
| Mar 28, 2026 | 13.82 Mn |
| Dec 27, 2025 | 9.26 Mn |
| Sep 27, 2025 | 8.99 Mn |
| Jun 28, 2025 | 7.64 Mn |
| Mar 29, 2025 | 11.07 Mn |
| Dec 28, 2024 | 13.37 Mn |
| Sep 28, 2024 | 10.80 Mn |
| Jun 29, 2024 | 15.85 Mn |
| Mar 30, 2024 | 18.10 Mn |
| Dec 30, 2023 | 14.90 Mn |
| Sep 30, 2023 | 18.32 Mn |
| Jul 1, 2023 | 14.53 Mn |
| Apr 1, 2023 | 16.40 Mn |
| Dec 31, 2022 | 14.57 Mn |
| Oct 1, 2022 | 11.89 Mn |
| Jul 2, 2022 | 9.71 Mn |
| Apr 2, 2022 | 9.22 Mn |
| Jan 1, 2022 | 27.18 Mn |
| Oct 2, 2021 | 13.09 Mn |
API Access
Netlist Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=NLST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "NLST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=NLST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();