Aehr Test Systems (AEHR) financial statements: income statement, balance sheet and cash flow
Aehr Test Systems's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (May 29, 2026 · FY), Aehr Test Systems reported revenue of $50.0M (-15.2% year on year) and net income of ($7.1M) (-82.3% year on year).
Income statement
Aehr Test Systems income statement, fiscal years
Line item
May 29, 2026 · FY
May 30, 2025 · FY
May 31, 2024 · FY
May 31, 2023 · FY
Revenue
$50.0M
$59.0M
—
$65.0M
Cost of Revenue
$32.4M
$35.0M
$33.7M
$32.2M
Gross profit
$17.7M
$23.9M
$32.5M
$32.7M
Research and Development Expense
$12.6M
$10.5M
$8.7M
$7.1M
Selling, General and Administrative Expense
$19.2M
$18.3M
$13.7M
$12.2M
Restructuring charges
$6.0K
—
—
—
Total operating expenses
$31.8M
$29.6M
$22.5M
$19.4M
Income (loss) from operations
($14.1M)
($5.7M)
$10.1M
$13.4M
Net Interest Income
$1.4M
$1.4M
$2.4M
$1.2M
Non-Operating Income (Expense)
$1.1M
($15.0K)
($8.0K)
($3.0K)
Income (loss) before income tax benefit
($11.7M)
($4.3M)
$12.5M
$14.6M
Income Tax Expense
($4.6M)
($381.0K)
($20.7M)
($60.0K)
Net income (loss)
($7.1M)
($3.9M)
$33.2M
$14.6M
Basic net income (loss) per share
-$0.23
-$0.13
$1.15
$0.52
Diluted net income (loss) per share
-$0.23
-$0.13
$1.12
$0.50
Basic
30.7M
29.6M
28.8M
—
Diluted
30.7M
29.6M
29.6M
29.2M
Aehr Test Systems income statement, quarters
Line item
Feb 27, 2026 · Q1
Nov 28, 2025 · Q2
Aug 29, 2025 · Q1
Feb 28, 2025 · Q1
Revenue
$10.3M
$9.9M
$11.0M
$18.3M
Cost of Revenue
$6.9M
$7.3M
$7.3M
$11.1M
Gross profit
$3.4M
$2.5M
$3.7M
$7.2M
Research and Development Expense
$3.2M
$3.0M
$2.8M
$3.1M
Selling, General and Administrative Expense
$4.4M
$4.4M
$4.7M
$5.2M
Restructuring Expense
$0
($213.0K)
$219.0K
—
Total operating expenses
$7.6M
$7.2M
$7.8M
$8.3M
Loss from operations
($4.2M)
($4.6M)
($4.1M)
($1.1M)
Net Interest Income
$240.0K
$194.0K
$179.0K
$270.0K
Non-Operating Income (Expense)
($12.0K)
$10.0K
$1.1M
($25.0K)
Loss before income tax benefit
($4.0M)
($4.4M)
($2.8M)
($874.0K)
Income Tax Expense
($798.0K)
($1.2M)
($752.0K)
($231.0K)
Net loss
($3.2M)
($3.2M)
($2.1M)
($643.0K)
Earnings Per Share (Basic)
-$0.10
-$0.11
-$0.07
-$0.02
Earnings Per Share (Diluted)
-$0.10
-$0.11
-$0.07
-$0.02
Basic
30.7M
30.2M
29.9M
29.7M
Diluted
30.7M
30.2M
29.9M
29.7M
Balance sheet
Aehr Test Systems balance sheet, fiscal years
Line item
May 29, 2026 · FY
May 30, 2025 · FY
May 31, 2024 · FY
May 31, 2023 · FY
Cash and Cash Equivalents
$116.4M
$24.5M
$49.2M
$30.1M
Accounts Receivable
$17.5M
$14.2M
$9.8M
$16.6M
Inventory
$41.4M
$42.0M
$37.5M
$23.9M
Other Non-Operating Current Assets
$9.3M
$8.1M
$1.4M
$621.0K
Total current assets
$184.4M
$88.8M
$97.8M
$89.0M
Property and equipment, net
$8.9M
$9.0M
$3.3M
$2.8M
Goodwill
$10.7M
$10.7M
—
—
Intangible Assets
$9.6M
$10.8M
—
—
Deferred Tax Assets, Non-Current
$23.8M
$19.1M
$20.8M
—
Operating Lease Right-of-Use Asset
$8.9M
$9.6M
$5.7M
$6.1M
Other Non-Operating Non-Current Assets
$305.0K
$546.0K
$304.0K
$231.0K
Total assets
$246.7M
$148.5M
$127.9M
$98.1M
Accounts Payable
$6.8M
$6.7M
$5.3M
$9.2M
Other Non-Operating Current Liabilities
$5.3M
$6.0M
$38.0K
$41.0K
Operating Lease Liability, Current
$626.0K
$909.0K
$465.0K
$137.0K
Deferred Revenue, Current
$5.2M
$2.0M
$1.3M
—
Total current liabilities
$17.9M
$15.6M
$10.5M
$16.3M
Operating Lease Liability, Non-Current
$9.3M
$9.9M
$5.7M
$6.2M
Deferred Revenue, Non-Current
$34.0K
$36.0K
$41.0K
$31.0K
Other Non-Operating Non-Current Liabilities
$38.0K
—
—
—
Total liabilities
$27.2M
$25.6M
$16.3M
$22.5M
Preferred Stock
$0
$0
$0
$0
Total Stockholders' Equity
$325.0K
$299.0K
$289.0K
$285.0K
Additional Paid-In Capital
$249.5M
$145.8M
$130.6M
$127.8M
Accumulated Other Comprehensive Income
($105.0K)
($126.0K)
($158.0K)
($155.0K)
Retained Earnings
($30.2M)
($23.1M)
($19.1M)
($52.3M)
Total shareholders' equity
$219.5M
$122.9M
$111.6M
$75.6M
Total liabilities and shareholders equity
$246.7M
$148.5M
$127.9M
$98.1M
Aehr Test Systems balance sheet, quarters
Line item
Feb 27, 2026
Nov 28, 2025
Aug 29, 2025
Feb 28, 2025
Cash and Cash Equivalents
$36.9M
$30.8M
$22.7M
$29.4M
Accounts Receivable
$11.8M
$10.3M
$13.1M
$12.0M
Inventory
$41.2M
$42.7M
$41.8M
$42.3M
Other Non-Operating Current Assets
$6.0M
$4.3M
$6.4M
$8.0M
Total current assets
$95.9M
$88.2M
$84.1M
$91.7M
Property and equipment, net
$9.3M
$9.0M
$9.0M
$7.0M
Goodwill
$10.7M
$10.7M
$10.7M
$10.7M
Intangible Assets
$9.8M
$10.1M
$10.4M
$11.1M
Deferred Tax Assets, Non-Current
$21.9M
$21.1M
$19.9M
$18.8M
Operating Lease Right-of-Use Asset
$9.1M
$9.3M
$9.4M
$5.7M
Other Non-Operating Non-Current Assets
$331.0K
$348.0K
$584.0K
$453.0K
Total assets
$157.0M
$148.7M
$144.1M
$145.6M
Accounts Payable
$2.1M
$3.5M
$3.4M
$7.0M
Other Non-Operating Current Liabilities
$4.2M
—
—
$7.1M
Operating Lease Liability, Current
$606.0K
$585.0K
$905.0K
$1.2M
Deferred Revenue, Current
$1.9M
$443.0K
$1.1M
$844.0K
Total current liabilities
$8.7M
$8.3M
$11.9M
$16.1M
Operating Lease Liability, Non-Current
$9.4M
$9.6M
$9.7M
$5.3M
Deferred Revenue, Non-Current
$53.0K
$35.0K
$35.0K
$26.0K
Other Non-Operating Non-Current Liabilities
$40.0K
$40.0K
$40.0K
$40.0K
Total liabilities
$18.3M
$18.0M
$21.7M
$21.4M
Preferred Stock
$0
$0
$0
$0
Total Stockholders' Equity
$310.0K
$306.0K
$300.0K
$298.0K
Additional Paid-In Capital
$170.1M
$159.0M
$147.3M
$144.3M
Accumulated Other Comprehensive Income
($84.0K)
($110.0K)
($95.0K)
($181.0K)
Retained Earnings
($31.6M)
($28.4M)
($25.1M)
($20.2M)
Total shareholders' equity
$138.8M
$130.8M
$122.4M
$124.2M
Total liabilities and shareholders' equity
$157.0M
$148.7M
$144.1M
$145.6M
Cash flow statement
Aehr Test Systems cash flow statement, fiscal years
Line item
May 29, 2026 · FY
May 30, 2025 · FY
May 31, 2024 · FY
May 31, 2023 · FY
Net income (loss)
($7.1M)
($3.9M)
$33.2M
$14.6M
Stock-Based Compensation Expense
$6.8M
$5.2M
$2.5M
$2.7M
Depreciation Expense
$2.8M
$2.3M
$657.0K
$450.0K
Deferred Income Tax (CF)
($4.7M)
($421.0K)
($20.8M)
—
Net Cash from Operating Activities
$731.0K
$1.1M
$706.0K
—
Asset Impairment Charges
$0
$584.0K
—
—
Accretion of investment discount
$0
$0
($130.0K)
($576.0K)
Accounts receivable
($3.3M)
($3.0M)
$6.8M
—
Inventories
$11.0K
($2.4M)
($13.7M)
($9.5M)
Prepaid expenses and other assets
($2.8M)
($5.0M)
($875.0K)
—
Accounts payable
$991.0K
($714.0K)
($3.9M)
$5.0M
Change in Accrued Liabilities
$1.0M
($378.0K)
($792.0K)
$528.0K
Change in Deferred Revenue
$3.2M
$143.0K
($1.5M)
—
Net Cash from Operating Activities
($979.0K)
—
—
—
Income taxes payable
$58.0K
($65.0K)
$14.0K
$8.0K
Net cash provided by (used in) operating activities
($3.3M)
($7.4M)
$1.8M
$10.0M
Purchases of property and equipment
($2.1M)
($5.0M)
($749.0K)
($1.4M)
Net Cash from Investing Activities
$0
$0
$18.0M
$16.0M
Payments for business acquisition, net of cash and cash equivalent acquired
($1.8M)
($11.1M)
—
—
Net cash provided by (used in) investing activities
($3.9M)
($16.1M)
$17.3M
($18.7M)
Net Cash from Financing Activities
$97.4M
$0
($72.0K)
—
Stock Repurchases (Issuances)
$2.2M
$1.4M
$1.8M
$2.6M
Shares repurchased for tax withholdings on vesting of restricted stock units, amount
-2.4M
-784.0K
-1.6M
-2.1M
Net cash provided by financing activities
$97.2M
$625.0K
$139.0K
$7.3M
Effect of Exchange Rate on Cash
($6.0K)
$13.0K
($41.0K)
($37.0K)
Net increase (decrease) in cash, cash equivalents and restricted cash
$90.0M
($22.8M)
$19.1M
($1.4M)
Cash, cash equivalents and restricted cash, beginning of period(1)
$26.5M
$49.3M
$30.2M
$31.6M
Cash, cash equivalents and restricted cash, end of period (1)
$116.5M
—
—
—
Income Tax Expense
$60.0K
$100.0K
$90.0K
$0
Interest Expense
$0
$0
$0
$15.0K
Net transfer of equipment between inventory and property and equipment
$702.0K
$458.0K
$357.0K
$646.0K
Purchases of property and equipment included in accounts payable and accrued liabilities
$0
$1.3M
—
—
Common stock issuance costs included in accounts payable
$296.0K
—
—
—
Aehr Test Systems cash flow statement, quarters
Line item
Feb 27, 2026 · YTD
Nov 28, 2025 · YTD
Aug 29, 2025 · Q1
Feb 28, 2025 · YTD
Net loss
($8.5M)
—
—
—
Stock-Based Compensation Expense
$4.9M
$3.5M
$1.7M
$3.7M
Depreciation Expense
$2.1M
$1.4M
$743.0K
$1.6M
Deferred Income Tax (CF)
($2.8M)
($2.0M)
($761.0K)
($293.0K)
Net Cash from Operating Activities
$543.0K
$360.0K
$179.0K
$795.0K
Accounts receivable
$2.4M
$3.9M
$1.1M
($962.0K)
Inventories
$203.0K
($654.0K)
$218.0K
($2.2M)
Prepaid expenses and other assets
$457.0K
$2.1M
$1.6M
($4.8M)
Accounts payable
($3.5M)
($2.1M)
($2.4M)
$139.0K
Change in Accrued Liabilities
($38.0K)
($483.0K)
$505.0K
($515.0K)
Change in Deferred Revenue
($108.0K)
($1.5M)
($863.0K)
($1.0M)
Net Cash from Operating Activities
($836.0K)
($697.0K)
($215.0K)
—
Income taxes payable
$6.0K
$6.0K
$10.0K
($49.0K)
Net cash used in operating activities
($5.1M)
($1.5M)
($282.0K)
($5.1M)
Purchases of property and equipment
($1.9M)
($1.9M)
($1.4M)
($2.2M)
Payments for business acquisition, net of cash and cash equivalents acquired
($1.8M)
($1.8M)
$0
($11.1M)
Net cash used in investing activities
($3.7M)
($3.7M)
($1.4M)
($13.2M)
Net Cash from Financing Activities
$19.6M
$9.4M
—
$0
Stock Repurchases (Issuances)
$1.1M
$1.1M
$170.0K
$894.0K
Shares repurchased for tax withholdings on vesting of restricted stock units, amount
-1.3M
-819.0K
-328.0K
-520.0K
Net cash provided by financing activities
$19.4M
$9.6M
($158.0K)
$374.0K
Effect of Exchange Rate on Cash
$9.0K
($2.0K)
$9.0K
$25.0K
Net increase (decrease) in cash, cash equivalents and restricted cash
$10.6M
$4.5M
($1.8M)
($17.9M)
Cash, cash equivalents and restricted cash, beginning of period(1)
$26.5M
$26.5M
$26.5M
$49.3M
Cash, cash equivalents and restricted cash, end of period (1)
$37.1M
$31.0M
$24.7M
$31.4M
Net transfer of equipment between inventory and property and equipment