AEHR TEST SYSTEMS
Business
Aehr Test Systems designs, manufactures, and markets test and burn-in systems for semiconductor devices at wafer, die, and package levels. Products include the FOX-XP, FOX-NP, and FOX-CP wafer-contact systems, along with packaged-part burn-in solutions (Sonoma, Tahoe, Echo) acquired from Incal, plus proprietary contactors, carriers, and alignment equipment. The company serves semiconductor manufacturers, contract assemblers, and test service companies globally, with concentrations in AI accelerators, silicon carbide and gallium nitride power semiconductors, silicon photonics, automotive sensors, memory, and data-storage applications.
Summary from 10-K filed 2025-07-28
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-05-31 | FY 2024 2024-05-31 | FY 2023 2023-05-31 | FY 2022 2022-05-31 | FY 2021 2021-05-31 |
|---|---|---|---|---|---|---|
| Revenue | 59 | 66 | 65 | 51 | 17 | |
| Cost of revenue | 35 | 34 | 32 | 27 | 11 | |
| Gross profit | 24 | 33 | 33 | 24 | 6 | |
| Research and development | 10 | 9 | 7 | 6 | 4 | |
| Selling, general and administrative | 18 | 14 | 12 | 10 | 7 | |
| Restructuring charges | 864,000 | 0 | 0 | 0 | 0 | |
| Total operating expenses | 30 | 22 | 19 | 16 | 10 | |
| Income (loss) from operations | −6 | 10 | 13 | 8 | −4 | |
| Interest income, net | 1 | 2 | 1 | 13,000 | −46,000 | |
| Other expense, net | −15,000 | −8,000 | −3,000 | 30,000 | −162,000 | |
| Income (loss) before income tax expense (benefit) | −4 | 12 | 15 | 10 | −2 | |
| Income tax expense (benefit) | −381,000 | −21 | 60,000 | 91,000 | 177,000 | |
| Net income (loss) | −4 | 33 | 15 | 9 | −2 | |
| Basic (per share) | −0.13 | 1.15 | 0.52 | 0.36 | −0.09 | |
| Diluted (per share) | −0.13 | 1.12 | 0.5 | 0.34 | −0.09 | |
| Basic (shares) | 30 | 29 | 28 | 26 | — | |
| Diluted (shares) | 30 | 30 | 29 | 28 | 23 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-05-31 | FY 2024 2024-05-31 | FY 2023 2023-05-31 | FY 2022 2022-05-31 | FY 2021 2021-05-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 25 | 49 | 30 | 31 | 5 | |
| Accounts receivable | 14 | 10 | 17 | — | — | |
| Inventories | 42 | 37 | 24 | 15 | 9 | |
| Prepaid expenses and other current assets | 8 | 1 | 621,000 | 613,000 | 551,000 | |
| Total current assets | 89 | 98 | 89 | 60 | 19 | |
| Property and equipment, net | 9 | 3 | 3 | 1 | 677,000 | |
| Goodwill | 11 | 0 | — | — | — | |
| Intangible assets, net | 11 | 0 | — | — | — | |
| Deferred tax assets, net | 19 | 21 | 0 | — | — | |
| Operating lease right-of-use assets, net | 10 | 6 | 6 | 917,000 | 2 | |
| Other non-current assets | 546,000 | 304,000 | 231,000 | 201,000 | 198,000 | |
| Total assets | 149 | 128 | 98 | 62 | 22 | |
| Accounts payable | 7 | 5 | 9 | 4 | 3 | |
| Accrued expenses and other current liabilities | 6 | 3 | — | — | — | |
| Operating lease liabilities, short-term | 909,000 | 465,000 | 137,000 | 794,000 | 737,000 | |
| Deferred revenue, short-term | 2 | 1 | 3 | — | — | |
| Total current liabilities | 16 | 11 | 16 | 11 | 9 | |
| Operating lease liabilities, long-term | 10 | 6 | 6 | 212,000 | 1 | |
| Deferred revenue, long-term | 36,000 | 41,000 | 31,000 | 69,000 | 99,000 | |
| Other long-term liabilities | 42,000 | 38,000 | 41,000 | 44,000 | — | |
| Total liabilities | 26 | 16 | 23 | 11 | 10 | |
| Preferred stock, $0.01 par value: Authorized: 10,000 shares; Issued and outstanding: none | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 29,877 shares and 28,995 shares at May 30, 2025 and May 31, 2024, respectively | 299,000 | 289,000 | 285,000 | 271,000 | 237,000 | |
| Additional paid-in capital | 146 | 131 | 128 | 118 | 88 | |
| Accumulated other comprehensive loss | −126,000 | −158,000 | −155,000 | −105,000 | −28,000 | |
| Accumulated deficit | −23 | −19 | −52 | −67 | −76 | |
| Total shareholders' equity | 123 | 112 | 76 | 51 | 11 | |
| Total liabilities and shareholders equity | 149 | 128 | 98 | 62 | 22 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-05-31 | FY 2024 2024-05-31 | FY 2023 2023-05-31 | FY 2022 2022-05-31 | FY 2021 2021-05-31 |
|---|---|---|---|---|---|---|
| Net income (loss) | −4 | 33 | 15 | — | — | |
| Stock-based compensation expense | 5 | 3 | 3 | 3 | 1 | |
| Depreciation and amortization | 2 | 657,000 | 450,000 | 356,000 | 328,000 | |
| Deferred income taxes | −421,000 | −21 | 0 | 0 | — | |
| Amortization of operating lease right-of-use assets | 1 | 706,000 | 649,000 | 689,000 | — | |
| Impairment of assets | 584,000 | 0 | 0 | — | — | |
| Accretion of investment discount | 0 | −130,000 | −576,000 | 0 | 0 | |
| Provision for credit losses | 0 | 0 | 24,000 | 0 | — | |
| Accounts receivable | −3 | 7 | −4 | −8 | −1 | |
| Inventories | −2 | −14 | −9 | −7 | −972,000 | |
| Prepaid expenses and other current assets | −5 | −875,000 | 28,000 | −71,000 | — | |
| Accounts payable | −714,000 | −4 | 5 | 1 | 2 | |
| Accrued expenses | −378,000 | −792,000 | 528,000 | 1 | 732,000 | |
| Deferred revenue | 143,000 | −1 | 369,000 | 2 | — | |
| Operating lease liabilities | −699,000 | −423,000 | −561,000 | −738,000 | — | |
| Income taxes payable | −65,000 | 14,000 | 8,000 | 6,000 | −10,000 | |
| Net cash provided by (used in) operating activities | −7 | 2 | 10 | 2 | −3 | |
| Payments for business acquisition, net of cash and cash equivalent acquired | −11 | 0 | 0 | — | — | |
| Purchases of property and equipment | −5 | −749,000 | −1 | −416,000 | −227,000 | |
| Proceeds from maturities of investments | 0 | 18 | 16 | 0 | 0 | |
| Purchases of investments | 0 | 0 | −33 | 0 | 0 | |
| Net cash provided by (used in) investing activities | −16 | 17 | −19 | −416,000 | −227,000 | |
| Proceeds from issuance of common stock under employee plans | 1 | 2 | 3 | 4 | 580,000 | |
| Shares repurchased for tax withholdings on vesting of restricted stock units and in connection with the termination of the ESOP | −784,000 | −2 | −2 | −429,000 | −20,000 | |
| Proceeds from issuance of common stock, net of issuance costs | 0 | −72,000 | 7 | 24 | 0 | |
| Net cash provided by financing activities | 625,000 | 139,000 | 7 | 26 | 2 | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 13,000 | −41,000 | −37,000 | 49,000 | 117,000 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | −23 | 19 | −1 | 27 | −851,000 | |
| Income taxes paid | 100,000 | 90,000 | 21,000 | 4,000 | 15,000 | |
| Interest paid | 0 | 0 | 15,000 | 12,000 | 6,000 | |
| Net transfer of equipment between inventory and property and equipment | 458,000 | 357,000 | 646,000 | 472,000 | 113,000 | |
| Purchases of property and equipment included in accounts payable and accrued liabilities | 1 | 53,000 | 698,000 | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is AEHR TEST SYSTEMS's CIK number?
AEHR TEST SYSTEMS's SEC CIK number is 0001040470 (1040470). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find AEHR TEST SYSTEMS's SEC filings?
All of AEHR TEST SYSTEMS's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did AEHR TEST SYSTEMS last report earnings?
AEHR TEST SYSTEMS (AEHR) most recently filed an earnings 8-K with the SEC on Jul 14, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001654954-26-006655). This is AEHR TEST SYSTEMS's most recent earnings filing of record — not a forecast of its next earnings date.
What is AEHR TEST SYSTEMS's most recent earnings 8-K?
AEHR TEST SYSTEMS's latest earnings 8-K (Item 2.02) was filed Jul 14, 2026 under accession 0001654954-26-006655. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View AEHR TEST SYSTEMS's latest earnings 8-K →
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