Aehr Test Systems, Inc. is a US-based provider of test solutions for testing, burning-in, and stabilizing semiconductor devices. The company's systems are used to test devices in wafer level, singulated die, and package part form. Its products primarily serve manufacturers of artificial intelligence processors, silicon carbide power semiconductors, silicon photonics, and memory integrated circuits.
Financial Statements
In thousands, USD
FY 2026
FY 2025
FY 2024
FY 2023
Total Revenues
50,001
58,968
66,218
64,961
Cost of Sales
32,350
35,035
33,675
32,215
Gross Profit
17,651
23,933
32,543
32,746
Selling, General & Administrative Expenses
19,161
18,283
13,746
12,237
Research & Development Expenses
12,633
10,463
8,719
7,134
Other Operating Expenses
6
864
—
—
Operating Profit
(14,149)
(5,677)
10,078
13,375
Non-Operating Income
2,413
1,386
2,380
1,242
Total Non-Operating Income
2,413
1,386
2,380
1,242
Income Before Provision for Income Taxes
(11,736)
(4,291)
12,458
14,617
Provision for Income Taxes
(4,610)
(381)
(20,698)
60
Consolidated Net Income
(7,126)
(3,910)
33,156
14,557
Net Income Attributable to Common Shareholders
(7,126)
(3,910)
33,156
14,557
Basic EPS
-0.23
-0.13
1.15
0.52
Diluted EPS
-0.23
-0.13
1.12
0.50
Basic Weighted Average Shares Outstanding
30,669
29,581
28,818
27,785
Diluted Weighted Average Shares Outstanding
30,669
29,581
29,617
29,215
Shares Outstanding
32,480
29,877
28,995
28,539
FY 2026
FY 2025
FY 2024
FY 2023
Cash and Cash Equivalents
116,358
24,529
49,159
30,054
Short-Term Investments
—
—
—
17,853
Total Cash and Cash Equivalents
116,358
24,529
49,159
47,907
Accounts Receivable
17,473
14,191
9,796
16,594
Total Trade Receivables
17,473
14,191
9,796
16,594
Inventories
41,354
41,997
37,470
23,908
Other Current Assets
9,263
8,061
1,423
621
Total Current Assets
184,448
88,778
97,848
89,030
Net Property, Plant & Equipment
17,841
18,570
8,987
8,882
Net Intangible Assets
9,552
10,781
—
—
Goodwill
10,719
10,719
—
—
Other Long-Term Assets
24,134
19,660
21,077
231
Total Assets
246,694
148,508
127,912
98,143
Accounts Payable
6,754
6,728
5,332
9,206
Accrued Expenses
5,283
6,020
3,366
4,143
Current Portion of Leases
626
909
465
137
Unearned Revenue
5,192
1,981
1,345
2,822
Total Current Liabilities
17,855
15,638
10,508
16,308
Leases
9,256
9,921
5,732
6,163
Other Long-Term Liabilities
72
78
79
72
Total Long-Term Liabilities
9,328
9,999
5,811
6,235
Total Liabilities
27,183
25,637
16,319
22,543
Common Stock
325
299
289
285
Additional Paid-in Capital
249,477
145,758
130,612
127,776
Accumulated Other Comprehensive Income
(105)
(126)
(158)
(155)
Retained Earnings
(30,186)
(23,060)
(19,150)
(52,306)
Total Common Shareholders' Equity
219,511
122,871
111,593
75,600
Total Shareholders' Equity
219,511
122,871
111,593
75,600
Total Liabilities and Shareholders' Equity
246,694
148,508
127,912
98,143
FY 2026
FY 2025
FY 2024
FY 2023
Net Income
(7,126)
(3,910)
33,156
14,557
Depreciation & Amortization
3,530
3,388
1,363
1,099
Share-Based Compensation Expense
6,761
5,162
2,518
2,748
Other Adjustments
(4,715)
163
(20,903)
(552)
Changes in Trade Receivables
(3,307)
(3,037)
6,790
(3,788)
Changes in Inventories
11
(2,441)
(13,732)
(9,469)
Changes in Accounts Payable
991
(714)
(3,891)
5,044
Changes in Accrued Expenses
1,020
(378)
(792)
528
Changes in Income Taxes Payable
58
(65)
14
8
Changes in Unearned Revenue
3,209
143
(1,469)
369
Changes in Other Operating Activities
(3,742)
(5,711)
(1,298)
(533)
Cash from Operating Activities
(3,310)
(7,400)
1,756
10,011
Capital Expenditure
(2,066)
(4,992)
(749)
(1,362)
Purchases of Investments
—
—
—
(33,294)
Proceeds from Sale of Investments
—
—
18,000
16,000
Payments for Business Acquisitions
(1,801)
(11,075)
—
—
Cash from Investing Activities
(3,867)
(16,067)
17,251
(18,656)
Issuance of Common Shares
99,595
1,409
1,735
9,382
Repurchases of Common Shares
(2,384)
(784)
(1,596)
(2,060)
Net Issuance / (Repurchases) of Common Shares
97,211
625
139
7,322
Cash from Financing Activities
97,211
625
139
7,322
Effect of Exchange Rate Changes on Cash and Cash Equivalents
(6)
13
(41)
(37)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash