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Aehr Test Systems (AEHR) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · SEMICONDUCTOR EQUIPMENT & MATERIALS · DATA UPDATED 2026-08-22

Aehr Test Systems (AEHR) operates in the SEMICONDUCTOR EQUIPMENT & MATERIALS industry and is headquartered in Fremont, United States with about 138 employees. Its market capitalization is roughly $3 billion. In the fiscal year ended 2026-05-31, AEHR reported $50M in revenue and ($7M) in net income.

Aehr Test Systems, Inc. provides test solutions for testing, burn-in, and semiconductor devices at wafer level, singulated die, and package level in the United States, Asia, Europe, and the Middle East.

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AEHR Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-05-31	2026-05-31	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31	2012-05-31	2011-05-31	2010-05-31	2009-05-31	2008-05-31	2007-05-31
Total Revenue	$51M	$50M	$59M	$66M	$65M	$51M	$17M	$22M	$21M	$30M	$19M	$15M	$10M	$20M	$16M	$16M	$14M	$12M	$21M	$39M	$27M
Gross Profit	$18M	$18M	$24M	$33M	$33M	$24M	$6M	$8M	$8M	$12M	$7M	$5M	$4M	$10M	$7M	$6M	$6M	$6M	$1M	$20M	$14M
Gross Margin %	35.3%	35.3%	40.6%	49.1%	50.4%	46.6%	36.3%	37.5%	36.1%	41.9%	35.9%	35.5%	38.3%	51.9%	41.1%	40.0%	40.1%	52.3%	5.5%	51.1%	50.9%
Operating Income (EBIT)	($14M)	($14M)	($4M)	$10M	$13M	$8M	($4M)	($3M)	($4M)	$1M	($5M)	($6M)	($7M)	$0M	($3M)	($5M)	($5M)	($5M)	($25M)	$6M	$1M
Operating Margin %	-27.5%	-28.3%	-7.3%	15.2%	20.6%	15.3%	-25.2%	-11.4%	-20.3%	3.1%	-26.1%	-42.4%	-66.8%	2.5%	-20.1%	-29.0%	-36.5%	-40.7%	-115.9%	14.9%	3.8%
Net Income	($7M)	($7M)	($4M)	$33M	$15M	$9M	($2M)	($3M)	($5M)	$1M	($6M)	($7M)	($7M)	$0M	($3M)	($3M)	($3M)	$0M	($30M)	$11M	$2M
Net Margin %	-13.7%	-14.2%	-6.6%	50.1%	22.4%	18.6%	-12.2%	-12.6%	-24.9%	1.8%	-29.9%	-46.8%	-66.3%	2.1%	-20.7%	-21.8%	-24.6%	-4.1%	-140.0%	27.1%	8.9%
EBITDA	($12M)	($12M)	($1M)	$14M	$14M	$10M	($2M)	($2M)	($5M)	$1M	($5M)	($6M)	($6M)	$1M	($3M)	($3M)	($3M)	$0M	($24M)	$6M	$3M
Earnings Per Share (EPS)	$-0.25	$-0.23	$-0.13	$1.12	$0.50	$0.34	$-0.09	$-0.12	$-0.23	$0.02	$-0.35	$-0.52	$-0.55	$0.04	$-0.36	$-0.38	$-0.38	$-0.06	$-3.55	$1.24	$0.30
Shares Outstanding (M)	31M	31M	30M	30M	29M	28M	23M	23M	22M	23M	16M	13M	12M	12M	10M	9M	9M	9M	8M	9M	8M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AEHR Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-05-31	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31
Total Revenue	$20M	$10M	$10M	$11M	$14M	$18M	$13M	$13M
Gross Profit	$8M	$3M	$3M	$4M	$4M	$7M	$5M	$7M
Gross Margin %	40.6%	32.7%	25.8%	33.9%	30.3%	39.2%	40.1%	53.9%
Operating Income (EBIT)	($1M)	($4M)	($5M)	($4M)	($2M)	($1M)	($2M)	$0M
Operating Margin %	-5.0%	-41.0%	-49.2%	-37.1%	-16.6%	-6.1%	-11.2%	1.2%
Net Income	$1M	($3M)	($3M)	($2M)	($3M)	($1M)	($1M)	$1M
Net Margin %	7.0%	-31.1%	-32.7%	-19.0%	-20.6%	-3.5%	-7.6%	5.0%
EBITDA	($2M)	($3M)	($4M)	($3M)	($2M)	$0M	$0M	$1M
Earnings Per Share (EPS)	$0.03	$-0.10	$-0.11	$-0.07	$-0.10	$-0.02	$-0.03	$0.02
Shares Outstanding (M)	31M	31M	30M	30M	30M	30M	30M	30M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AEHR Free Cash Flow History

Cash flow	TTM → 2026-05-31	2026-05-31	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31	2012-05-31	2011-05-31	2010-05-31	2009-05-31	2008-05-31	2007-05-31
Cash from Operations (CFO)	($3M)	($3M)	($7M)	$2M	$10M	$2M	($3M)	($2M)	($6M)	($1M)	($4M)	($6M)	($2M)	($1M)	$0M	($5M)	($4M)	$3M	($11M)	$4M	($1M)
Capital Expenditures (CapEx)	$1M	$2M	$5M	$1M	$1M	$0M	$0M	$0M	$0M	$1M	$0M	$1M	$0M	$0M	$0M	$0M	$0M	$0M	$1M	$1M	$1M
Free Cash Flow (FCF)	($6M)	($5M)	($12M)	$1M	$9M	$1M	($3M)	($2M)	($6M)	($2M)	($5M)	($7M)	($2M)	($1M)	$0M	($5M)	($4M)	$3M	($12M)	$3M	($2M)
FCF Margin %	-11.8%	-10.8%	-21.0%	1.5%	13.3%	2.1%	-17.6%	-9.8%	-27.6%	-6.5%	-26.3%	-49.6%	-23.7%	-4.8%	-2.6%	-31.7%	-30.3%	27.2%	-56.8%	6.6%	-8.1%
Dividends Paid	—	—	—	—	—	$1M	$1M	$2M	—	$0M	$0M	$0M	$0M	$0M	$0M	$0M	—	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AEHR Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-05-31	2026-02-28	2025-11-30	2025-08-31	2025-05-31	2025-02-28	2024-11-30	2024-08-31
Cash from Operations (CFO)	$1M	($3M)	($1M)	$0M	($2M)	($2M)	($6M)	$2M
Capital Expenditures (CapEx)	$0M	$0M	$0M	$1M	$3M	$2M	$0M	$0M
Free Cash Flow (FCF)	$1M	($3M)	($2M)	($2M)	($5M)	($3M)	($6M)	$2M
FCF Margin %	5.5%	-28.4%	-18.8%	-15.2%	-36.3%	-17.8%	-46.0%	16.6%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

AEHR Balance Sheet History

Balance sheet	2026-05-31	2026-05-31	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31	2012-05-31	2011-05-31	2010-05-31	2009-05-31	2008-05-31	2007-05-31
Total Assets	$247M	$247M	$149M	$128M	$98M	$62M	$22M	$21M	$21M	$31M	$31M	$10M	$15M	$12M	$11M	$12M	$12M	$14M	$14M	$45M	$29M
Cash & Cash Equivalents	$116M	$116M	$25M	$49M	$30M	$31M	$5M	$5M	$5M	$17M	$18M	$1M	$6M	$2M	$2M	$2M	$4M	$8M	$4M	$16M	$7M
Total Liabilities	$27M	$27M	$26M	$16M	$23M	$11M	$10M	$7M	$6M	$12M	$14M	$11M	$10M	$5M	$6M	$5M	$3M	$3M	$4M	$7M	$6M
Total Debt (Short + Long-Term)	$1M	$1M	$1M	$0M	$0M	$1M	$4M	$2M	$0M	$6M	$6M	$6M	$4M	$1M	$1M	$1M	$0M	$0M	$0M	$0M	$0M
Total Shareholders' Equity	$220M	$220M	$123M	$112M	$76M	$51M	$11M	$14M	$15M	$19M	$17M	($1M)	$5M	$7M	$5M	$6M	$9M	$11M	$10M	$38M	$23M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive AEHR viewer.

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