Aehr Test Systems
27.00+1.91 (+7.61%)
Oct 29, 4:00:02 PM EDT · NasdaqCM · AEHR · USD
Key Stats
Market Cap
810.18MP/E (TTM)
-Basic EPS (TTM)
-0.22Dividend Yield
0%Recent Filings
8-K
Shareholders approve key governance measures
Aehr Test Systems shareholders convened their annual meeting on October 20, 2025, electing all six director nominees with strong support, averaging over 12 million votes for amid 7.3 million broker non-votes. They approved amendments boosting the 2023 Equity Incentive Plan by 2.5 million shares and the 2006 Employee Stock Purchase Plan by 300,000 shares, while ratifying BPM LLP as auditors and endorsing annual executive pay votes. This bolsters talent retention amid growth pressures. Directors serve until the next meeting.
8-K
Q1 revenue dips, AI bookings surge
Aehr Test Systems reported Q1 fiscal 2026 revenue of $11.0 million, down from $13.1 million last year, with a GAAP net loss of $2.1 million versus prior income. Bookings hit $11.4 million amid surging AI processor demand, boosting Sonoma system orders from a top hyperscaler and new evaluations for wafer-level burn-in. Momentum spans silicon photonics and power semis, yet tariff uncertainties linger. Backlog stands at $15.5 million.
10-K
FY2025 results
Aehr Test Systems' FY2025 revenue fell 10.9% y/y to $59.0M, pressured by softening EV power semiconductor demand that curbed system and contactor shipments, though packaged parts burn-in revenue surged to $19.8M (34% of total) post-Incal acquisition, offsetting declines in wafer-level products at $39.2M (66%). Q4 momentum faltered with sequential revenue drops amid global tariff uncertainty, yet AI-focused U.S. sales grew 400% annually, driving backlog to $15.2M from $7.3M. Gross margins compressed to 40.6% from 49.1% due to acquisition intangibles and mix shifts, while operating loss widened to $5.7M versus $10.1M profit, fueled by $4.5M higher SG&A from integration. Cash dipped to $26.5M after $11.1M Incal spend, but liquidity supports operations; no dividends or buybacks. Backlog signals Q1 recovery potential, though customer concentration risks persist.
8-K
Aehr's Q4 revenue dips, AI gains
Aehr Test Systems reported fiscal 2025 Q4 revenue of $14.1 million, down from $16.6 million a year ago, swinging to a GAAP net loss of $2.9 million amid slower silicon carbide demand. Yet the company expanded into AI processors via Incal acquisition, securing a major hyperscaler customer and first GaN production order, while bookings hit $11.1 million. Backlog stands at $15.2 million. Diversification pays off.
10-Q
Q3 FY2025 results
Aehr Test Systems posted Q3 FY2025 revenue of $18.3M, up 142% y/y from $7.6M, fueled by FOX-XP system deliveries to AI and power semiconductor clients, plus $3.5M from the Incal acquisition, though YTD revenue dipped 10% y/y to $44.9M amid softer EV demand in Asia. Gross margin slipped to 39.2% from 41.7% y/y, pressured by intangible amortization and inventory charges, while operating loss narrowed to $1.1M from $2.0M y/y; net loss of $0.6M reflects higher stock-based comp and legal fees, with EPS at -$0.02 matching basic shares of 29.7M. The July 2024 Incal buy closed for $22.2M (cash/stock/escrow), adding $10.7M goodwill and $12.0M intangibles amortized over 1-12 years, contributing $8.9M revenue since close. Cash fell to $29.4M after $11.1M acquisition spend, with operating cash use of $5.1M YTD and no debt. Geopolitical tensions in China pose risks to sales there.
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