Operator

Good day and welcome to the Netlist First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please also note that this event is being recorded today. I would now like to turn the conference over to Mike Smargiassi, Investor Relations. Please go ahead.

Michael Smargiassi
Investor Relations Officer

Thank you, Joe, and good day, everyone. Welcome to Netlist's First Quarter 2026 Conference Call. Leading today's call will be Chuck Hong, Chief Executive Officer of Netlist; and Gail Sasaki, Chief Financial Officer. As a reminder, you can access the earnings release and a replay of today's call on the Investors section of the Netlist website at netlist.com.

Before we start the call, I would note that today's presentation of Netlist's results and the answers to questions may include forward-looking statements, which are based on current expectations. The actual results could differ materially from those projected in the forward-looking statements because of the number of risks and uncertainties that are expressed in the call, annual and current SEC filings and the cautionary statements contained in today's press release.

Netlist assumes no obligation to update forward-looking statements. I will now turn the call over to Chuck.

Chuck Hong
Co-Founder, President, CEO & Executive Chairman

Thanks, Mike, and hello, everyone. We delivered a strong first quarter performance, achieving record quarterly revenue and a significant improvement in profitability. These results were driven by robust demand for our memory products and disciplined execution across the business. As we discussed on prior call, the memory market remains structurally undersupplied. AI-driven demand continues to