AEHR TEST SYSTEMS Files 10-Q for Period Ending February 29, 2024

AI Summary

AEHR TEST SYSTEMS (AEHR) filed a Quarterly Report (10-Q) with the SEC on April 10, 2024. Revenue for the nine months ended February 29, 2024, was $75,000,000. Net income for the nine months ended February 29, 2024, was $28,906,000. Earnings per share (EPS) for the nine months ended February 29, 2024, were $0.01. Total assets as of February 29, 2024, were $150,000. The company reported $0 in total debt as of February 29, 2024.

Why It Matters

For investors and stakeholders tracking AEHR TEST SYSTEMS, this filing contains several important signals. The filing provides a detailed financial snapshot for the nine-month period, crucial for investors assessing the company's performance and financial health. Key figures like revenue, net income, and debt levels offer insights into the company's operational efficiency and its ability to manage financial obligations.

Risk Assessment

Risk Level: low — AEHR TEST SYSTEMS shows low risk based on this filing. The company has minimal debt ($0), indicating a strong balance sheet and low financial risk.

Analyst Insight

Investors should monitor future revenue growth and profitability trends, given the company's current financial strength and lack of debt.

Financial Highlights

debt To Equity

0

revenue

75000000

total Assets

150000

total Debt

0

net Income

28906000

eps

0.01

Revenue Breakdown

Key Numbers

• 75000000 — Revenue (Nine months ended February 29, 2024)
• 28906000 — Net Income (Nine months ended February 29, 2024)
• 0.01 — EPS (Nine months ended February 29, 2024)
• 150000 — Total Assets (As of February 29, 2024)
• 0 — Total Debt (As of February 29, 2024)

Key Players & Entities

• AEHR TEST SYSTEMS (company) — Filer
• 2024-02-29 (date) — Conformed period of report
• 2024-04-10 (date) — Filed as of date
• CA (location) — State of incorporation
• 94539 (postal_code) — Business address zip
• 5106239400 (phone_number) — Business phone

FAQ

Key Dates

• 2024-02-29: End of Reporting Period — Financial data reflects this period.
• 2024-04-10: Filing Date — Indicates when the report was 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) — 1044KB
• aehr_ex3101.htm (EX-31.01) — 9KB
• aehr_ex3102.htm (EX-31.02) — 9KB
• aehr_ex3201.htm (EX-32.01) — 4KB
• aehr_ex3202.htm (EX-31.02) — 5KB
• 0001654954-24-004455.txt ( ) — 4720KB
• aehr-20240229.xsd (EX-101.SCH) — 33KB
• aehr-20240229_lab.xml (EX-101.LAB) — 231KB
• aehr-20240229_cal.xml (EX-101.CAL) — 47KB
• aehr-20240229_pre.xml (EX-101.PRE) — 200KB
• aehr-20240229_def.xml (EX-101.DEF) — 106KB
• aehr_10q_htm.xml (XML) — 856KB

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 24

Controls and Procedures

Item 4. Controls and Procedures 24

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 25

Risk Factors

Item 1A. Risk Factors 25

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 25

Other Information

Item 5. Other Information 25

Exhibits

Item 6. Exhibits 26

SIGNATURES

SIGNATURES 27 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements AEHR TEST SYSTEMS CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) February 29, May 31, (In thousands, except par value) 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 47,581 $ 30,054 Short-term investments - 17,853 Accounts receivable, net 5,468 16,594 Inventories 38,085 23,908 Prepaid expenses and other current assets 1,215 621 Total current assets 92,349 89,030 Property and equipment, net 3,150 2,759 Operating lease right-of-use assets, net 5,863 6,123 Other non-current assets 234 231 Total assets $ 101,596 $ 98,143 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,979 $ 9,206 Accrued expenses 3,287 4,143 Operating lease liabilities, short-term 428 137 Deferred revenue, short-term 486 2,822 Total current liabilities 9,180 16,308 Operating lease liabilities, long-term 5,878 6,163 Deferred revenue, long-term - 31 Other long-term liabilities 41 41 Total liabilities 15,099 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: 28,906 shares and 28,539 shares at February 29, 2024 and May 31, 2023, respectively 289 285 Additional paid-in-capital 129,366 127,776 Accumulated other comprehensive loss ( 144 ) ( 155 ) Accumulated deficit ( 43,014 ) ( 52,306 ) Total shareholders' equity 86,497 75,600 Total liabilities and shareholders' equity $ 101,596 $ 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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