AEHR · Aehr Test Systems - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.31M | $13.45M | $13.12M | $13.45M | $18.31M | $13.12M | $21.43M | $7.56M | $20.62M | $14.81M |
| Cost of Revenue | $11.12M | $7.34M | $7.25M | $8.05M | $11.12M | $6.04M | $10.47M | $4.41M | $10.64M | $6.90M |
| Gross Profit | $3.37M | $2.54M | $3.72M | $5.40M | $7.18M | $7.08M | $10.96M | $3.16M | $9.98M | $7.91M |
| R&D | $3.14M | $2.97M | $2.85M | $2.28M | $3.14M | $2.36M | $1.97M | $2.14M | $2.46M | $1.55M |
| SG&A | $5.16M | $4.43M | $4.72M | $4.64M | $5.16M | $4.56M | $3.52M | $3.06M | $3.41M | $2.88M |
| Total Operating Expenses | $7.60M | $7.19M | $7.79M | $6.91M | $8.30M | $6.92M | $5.49M | $5.20M | $5.87M | $4.43M |
| D&A | $200.0K | $400.0K | $743.0K | $200.0K | $200.0K | $347.0K | - | - | $138.0K | - |
| Operating Income | ($4.23M) | ($4.65M) | ($4.07M) | ($1.51M) | ($1.12M) | $159.0K | $5.47M | ($2.05M) | $4.12M | $3.48M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | ($231.0K) | ($1.21M) | ($752.0K) | ($217.0K) | ($231.0K) | $154.0K | $20.0K | $7.0K | $16.0K | $18.0K |
| Net Income | ($3.20M) | ($3.23M) | ($2.08M) | ($1.03M) | ($643.0K) | $660.0K | $6.09M | ($1.47M) | $4.67M | $3.73M |
| EPS - Basic | ($0.02) | ($0.11) | ($0.07) | ($0.03) | ($0.02) | $0.02 | $0.21 | ($0.05) | $0.16 | $0.14 |
| EPS - Diluted | ($0.10) | ($0.11) | ($0.07) | ($0.03) | ($0.02) | $0.02 | $0.20 | ($0.05) | $0.16 | $0.13 |
Balance Sheet
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $36.91M | $30.84M | $22.71M | $24.53M | $29.41M | $37.83M | $49.16M | $47.58M | $50.95M | $30.05M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | $41.16M | $42.72M | $41.84M | $42.00M | $42.33M | $42.97M | $37.47M | $38.09M | $31.56M | $23.91M |
| Accounts Payable | $2.10M | $3.55M | $3.38M | $6.73M | $6.96M | $5.57M | $5.33M | $4.98M | $8.33M | $9.21M |
| Current Assets | $95.90M | $88.19M | $84.05M | $88.78M | $91.70M | $92.92M | $97.85M | $92.35M | $96.21M | $89.03M |
| Total Assets | $157.05M | $148.73M | $144.09M | $148.51M | $145.61M | $145.86M | $127.91M | $101.60M | $105.47M | $98.14M |
| Current Liabilities | $8.74M | $8.30M | $11.91M | $15.64M | $16.06M | $15.42M | $10.51M | $9.18M | $19.25M | $16.31M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $18.25M | $17.96M | $21.70M | $25.64M | $21.40M | $23.38M | $16.32M | $15.10M | $25.32M | $22.54M |
| Stockholders' Equity | $138.79M | $130.78M | $122.39M | $122.87M | $124.21M | $122.48M | $111.59M | $86.50M | $80.14M | $75.60M |
| Retained Earnings | ($31.58M) | ($28.37M) | ($25.14M) | ($23.06M) | ($20.16M) | ($18.49M) | ($19.15M) | ($43.01M) | ($47.63M) | ($52.31M) |
Cash Flow
| Line item | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($282.0K) | - | - | $2.38M | - | - | $3.90M | - |
| Investing Cash Flow | - | - | ($1.39M) | - | - | ($10.81M) | - | - | $17.72M | - |
| Financing Cash Flow | - | - | ($158.0K) | - | - | ($106.0K) | - | - | ($694.0K) | - |
| CapEx | - | - | $1.39M | - | - | $197.0K | - | - | $284.0K | - |
| Free Cash Flow | - | - | ($1.67M) | - | - | $2.18M | - | - | $3.62M | - |
Ratios
| Metric | Q3 '26 | Q2 '26 | Q1 '26 | Q2 '25 | Q3 '25 | Q1 '25 | Q2 '24 | Q3 '24 | Q1 '24 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 18.4% | 18.9% | 28.3% | 40.1% | 39.2% | 54.0% | 51.1% | 41.7% | 48.4% | 53.4% |
| Operating margin | -23.1% | -34.5% | -31.0% | -11.2% | -6.1% | 1.2% | 25.5% | -27.1% | 20.0% | 23.5% |
| EBITDA margin | -22.0% | -31.6% | -25.3% | -9.8% | -5.0% | 3.9% | - | - | 20.6% | - |
| Net margin | -17.5% | -24.0% | -15.9% | -7.6% | -3.5% | 5.0% | 28.4% | -19.4% | 22.7% | 25.1% |
| Free cash flow margin | - | - | -12.8% | - | - | 16.6% | - | - | 17.5% | - |
| FCF / Net income | - | - | 0.80 | - | - | 3.31 | - | - | 0.77 | - |
| R&D / Revenue | 17.2% | 22.1% | 21.7% | 16.9% | 17.2% | 18.0% | 9.2% | 28.3% | 11.9% | 10.5% |
| SG&A / Revenue | 28.2% | 33.0% | 36.0% | 34.5% | 28.2% | 34.7% | 16.4% | 40.5% | 16.5% | 19.4% |
| Effective tax rate | - | - | - | - | - | 18.9% | 0.3% | - | 0.3% | 0.5% |
| Return on assets | -2.0% | -2.2% | -1.4% | -0.7% | -0.4% | 0.5% | 4.8% | -1.4% | 4.4% | 3.8% |
| Return on equity | -2.3% | -2.5% | -1.7% | -0.8% | -0.5% | 0.5% | 5.5% | -1.7% | 5.8% | 4.9% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 10.97 | 10.62 | 7.06 | 5.68 | 5.71 | 6.03 | 9.31 | 10.06 | 5.00 | 5.46 |
| Quick ratio | 6.26 | 5.47 | 3.54 | 2.99 | 3.07 | 3.24 | 5.75 | 5.91 | 3.36 | 3.99 |
| Cash ratio | 4.22 | 3.71 | 1.91 | 1.57 | 1.83 | 2.45 | 4.68 | 5.18 | 2.65 | 1.84 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.13 | 1.14 | 1.18 | 1.21 | 1.17 | 1.19 | 1.15 | 1.17 | 1.32 | 1.30 |
| Liabilities / Assets | 0.12 | 0.12 | 0.15 | 0.17 | 0.15 | 0.16 | 0.13 | 0.15 | 0.24 | 0.23 |
| Efficiency | ||||||||||
| Asset turnover | 0.12 | 0.09 | 0.09 | 0.09 | 0.13 | 0.09 | 0.17 | 0.07 | 0.20 | 0.15 |
| Inventory turnover | 0.27 | 0.17 | 0.17 | 0.19 | 0.26 | 0.14 | 0.28 | 0.12 | 0.34 | 0.29 |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | 1351d | 2125d | 2107d | 1904d | 1389d | 2596d | 1306d | 3154d | 1082d | 1264d |
| Days payable outstanding | 69d | 176d | 170d | 305d | 228d | 337d | 186d | 412d | 286d | 487d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | 760.5x | 57.5x | - | 318.8x | 254.0x |
| P / B | 8.0x | 5.3x | 6.1x | 2.3x | 2.3x | 3.7x | 0.0x | 5.4x | 18.9x | 12.7x |
| P / S | 60.8x | 51.5x | 56.9x | 21.0x | 15.7x | 34.4x | 0.0x | 62.1x | 73.3x | 64.8x |
| EV / EBITDA | - | - | - | - | - | 816.0x | - | - | 343.4x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 0.0% | 0.0% | 0.0% | -37.2% | 142.1% | -36.4% | 44.7% | -56.0% | 93.3% | 54.1% |
| Revenue CAGR (3y) | 2.1% | -3.2% | 7.1% | 11.9% | 6.2% | - | 133.5% | 12.8% | 54.0% | 29.2% |
| Revenue CAGR (5y) | 28.3% | 51.5% | 18.4% | 14.4% | 24.5% | 18.8% | 22.0% | 0.5% | 34.2% | 13.3% |
| Gross profit growth (YoY) | -53.1% | -52.9% | -47.5% | -50.7% | 127.6% | -29.1% | 38.5% | -64.4% | 122.7% | 75.1% |
| Operating income growth (YoY) | -277.9% | -207.2% | - | - | 45.3% | -96.1% | 56.9% | - | 798.5% | 386.1% |
| Net income growth (YoY) | -398.1% | -214.2% | - | - | 56.3% | -85.9% | 63.5% | - | 693.5% | 419.5% |
| EPS growth (YoY) | -400.0% | -266.7% | - | - | 60.0% | -87.5% | 53.8% | - | 700.0% | 333.3% |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | 135.1% |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | -39.6% | - | - | -32.7% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 11.7% | 6.4% | -0.1% | 10.1% | 43.6% | 52.8% | 47.6% | 26.0% | 55.6% | 48.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-05-30.
Product / service
$58.97M totalContactors$30.85M · 52.3%
Systems$21.98M · 37.3%
Services$6.14M · 10.4%
Geographic
$58.97M totalAsia$37.09M · 62.9%
US$17.67M · 30.0%
Europe$4.20M · 7.1%
Peer comparison
Same SIC group: Instruments For Meas & Testing of Electricity & Elec Signals
Comparing AEHR TEST SYSTEMS against the 5 most active filers in the same SIC group.