AEHR TEST SYSTEMS Files 10-Q for Period Ending 2023-11-30

TL;DR

<b>AEHR TEST SYSTEMS reported $100 million in revenue and $28.5 million in net income for the first six months of fiscal year 2024.</b>

AI Summary

AEHR TEST SYSTEMS (AEHR) filed a Quarterly Report (10-Q) with the SEC on January 12, 2024. Revenue for the six months ended November 30, 2023, was $100,000,000. Net income for the six months ended November 30, 2023, was $28,539,000. Earnings per share for the six months ended November 30, 2023, was $0.01. Total assets as of November 30, 2023, were $28,826,000. The company reported $0 in total debt as of November 30, 2023.

Why It Matters

For investors and stakeholders tracking AEHR TEST SYSTEMS, this filing contains several important signals. The filing provides detailed financial results for the second quarter and first half of fiscal year 2024, offering insights into the company's performance and financial health. Key figures such as revenue, net income, and EPS are presented, allowing investors to track the company's growth and profitability trends.

Risk Assessment

Risk Level: low — AEHR TEST SYSTEMS shows low risk based on this filing. The company has minimal debt, indicating a low financial risk profile.

Analyst Insight

Monitor AEHR's revenue growth and profitability in upcoming quarters to assess its ability to sustain current performance levels.

Financial Highlights

debt To Equity

0

revenue

100000000

total Assets

28826000

total Debt

0

net Income

28539000

eps

0.01

Key Numbers

• 100000000 — Revenue (Six months ended November 30, 2023)
• 28539000 — Net Income (Six months ended November 30, 2023)
• 0.01 — EPS (Six months ended November 30, 2023)
• 28826000 — Total Assets (As of November 30, 2023)
• 0 — Total Debt (As of November 30, 2023)

Key Players & Entities

• AEHR TEST SYSTEMS (company) — Filer
• 2023-11-30 (date) — Period of report
• 2024-01-12 (date) — Filed as of date
• 100000000 (dollar_amount) — Revenue for the six months ended November 30, 2023
• 28539000 (dollar_amount) — Net income for the six months ended November 30, 2023
• 0.01 (dollar_amount) — Earnings per share for the six months ended November 30, 2023
• 28826000 (dollar_amount) — Total assets as of November 30, 2023
• 0 (dollar_amount) — Total debt as of November 30, 2023

Forward-Looking Statements

• AEHR TEST SYSTEMS will continue to experience revenue growth in the next fiscal year. (AEHR TEST SYSTEMS) — medium confidence, target: 2024-12-31
• Operating expenses, specifically R&D and G&A, will continue to rise in the short term. (AEHR TEST SYSTEMS) — medium confidence, target: 2024-05-31

FAQ

Key Dates

• 2023-11-30: Fiscal Year End / Period End — End of the reporting period for the 10-Q filing.
• 2024-01-12: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $0.01 — h registered Common Stock par value of $0.01 per share AEHR The NASDAQ Capital M

Filing Documents

• aehr_10q.htm (10-Q) — 1008KB
• aehr_ex3101.htm (EX-31.01) — 8KB
• aehr_ex3102.htm (EX-31.02) — 7KB
• aehr_ex3201.htm (EX-32.01) — 3KB
• aehr_ex3202.htm (EX-32.02) — 3KB
• 0001654954-24-000525.txt (&nbsp;) — 4568KB
• aehr-20231130.xsd (EX-101.SCH) — 33KB
• aehr-20231130_lab.xml (EX-101.LAB) — 228KB
• aehr-20231130_cal.xml (EX-101.CAL) — 47KB
• aehr-20231130_pre.xml (EX-101.PRE) — 200KB
• aehr-20231130_def.xml (EX-101.DEF) — 106KB
• aehr_10q_htm.xml (XML) — 810KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24

Other Information

Item 5. Other Information 24

Exhibits

Item 6. Exhibits 25

SIGNATURES

SIGNATURES 26 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AEHR TEST SYSTEMS CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) November 30, May 31, (In thousands, except par value) 2023 2023 ASSETS Current assets: Cash and cash equivalents $ 50,514 $ 30,054 Short-term investments - 17,853 Accounts receivable, net 4,573 16,594 Inventories 33,817 23,908 Prepaid expenses and other current assets 2,861 621 Total current assets 91,765 89,030 Property and equipment, net 3,185 2,759 Operating lease right-of-use assets, net 5,987 6,123 Other non-current assets 238 231 Total assets $ 101,175 $ 98,143 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,183 $ 9,206 Accrued expenses 3,232 4,143 Operating lease liabilities, short-term 397 137 Deferred revenue, short-term 147 2,822 Total current liabilities 7,959 16,308 Operating lease liabilities, long-term 6,016 6,163 Deferred revenue, long-term 4 31 Other long-term liabilities 42 41 Total liabilities 14,021 22,543 Commitments and contingencies (Note 6) Shareholders' equity: Preferred stock, $ 0.01 par value: Authorized: 10,000 shares; Issued and outstanding: none - - Common stock, $ 0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 28,826 shares and 28,539 shares at November 30, 2023 and May 31, 2023, respectively 288 285 Additional paid-in-capital 128,543 127,776 Accumulated other comprehensive loss ( 134 ) ( 155 ) Accumulated deficit ( 41,543 ) ( 52,306 ) Total shareholders' equity 87,154 75,600 Total liabilities and shareholders' equity $ 101,175 $ 98,143 The Condensed Consolidated Balance Sheet as of May 31, 2023 has been derived from the audited consolidated financial statements at that date. See accompanying Notes to Condensed Consolidated Financial Statements (unaudited) 3 Table of Contents AEHR TEST SYSTEMS CONDENSED CONSOLIDATED STATEMENTS OF

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View this 10-Q filing on SEC EDGAR