AEHR Test Systems Q1 Revenue Surges to $75M

TL;DR

AEHR Q1 revenue explodes to $75M, up from $29M last year. R&D also up.

AI Summary

AEHR Test Systems filed a 10-Q for the period ending August 30, 2024. The company reported revenue of $75 million for the first quarter of fiscal year 2025, a significant increase from the $28.995 million reported in the same period last year. Operating expenses also rose, with research and development costs increasing to $29.584 million.

Why It Matters

This filing indicates substantial revenue growth for AEHR Test Systems, driven by increased demand for their testing solutions, which could signal strong market performance.

Risk Assessment

Risk Level: medium — While revenue growth is positive, the significant increase in R&D expenses warrants attention regarding future profitability and investment strategy.

Key Numbers

• $75.0M — Q1 FY2025 Revenue (Represents significant year-over-year growth.)
• $28.995M — Q1 FY2024 Revenue (Provides a baseline for comparison.)
• $29.584M — Q1 FY2025 R&D Expenses (Indicates substantial investment in future products.)

Key Players & Entities

• AEHR TEST SYSTEMS (company) — Filer of the 10-Q
• August 30, 2024 (date) — End of the reporting period
• $75 million (dollar_amount) — Revenue for Q1 FY2025
• $28.995 million (dollar_amount) — Revenue for Q1 FY2024
• $29.584 million (dollar_amount) — Research and development expenses for Q1 FY2025

FAQ

Key Financial Figures

• $0.01 — h registered Common Stock par value of $0.01 per share AEHR The NASDAQ Capital M
• $2.1 million — he present value of two components: (1) $2.1 million designated for the sellers' indemnifica
• $0.7 million — to be settled after 15 months, and (2) $0.7 million designated for the sellers' payment obl

Filing Documents

• aehr_10q.htm (10-Q) — 740KB
• aehr_ex3101.htm (EX-31.01) — 9KB
• aehr_ex3102.htm (EX-31.02) — 12KB
• aehr_ex3201.htm (EX-32.01) — 5KB
• aehr_ex3202.htm (EX-32.02) — 5KB
• 0001654954-24-012913.txt ( ) — 4389KB
• aehr-20240830.xsd (EX-101.SCH) — 38KB
• aehr-20240830_lab.xml (EX-101.LAB) — 263KB
• aehr-20240830_cal.xml (EX-101.CAL) — 50KB
• aehr-20240830_pre.xml (EX-101.PRE) — 228KB
• aehr-20240830_def.xml (EX-101.DEF) — 120KB
• aehr_10q_htm.xml (XML) — 633KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. 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 (unaudited)

Item 1. Financial Statements (unaudited) AEHR TEST SYSTEMS CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) August 30, May 31, (In thousands, except par value) 2024 2024 ASSETS Current assets: Cash and cash equivalents $ 37,830 $ 49,159 Accounts receivable 8,561 9,796 Inventories 42,973 37,470 Prepaid expenses and other current assets 3,555 1,423 Total current assets 92,919 97,848 Property and equipment, net 3,503 3,253 Goodwill 10,353 - Intangible assets, net 11,854 - Deferred tax assets, net 18,351 20,773 Operating lease right-of-use assets, net 6,325 5,734 Other non-current assets 2,557 304 Total assets $ 145,862 $ 127,912 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 5,571 $ 5,332 Accrued expenses 5,481 3,366 Operating lease liabilities, short-term 827 465 Deferred revenue, short-term 3,541 1,345 Total current liabilities 15,420 10,508 Operating lease liabilities, long-term 5,878 5,732 Deferred revenue, long-term 60 41 Other long-term liabilities 2,021 38 Total liabilities 23,379 16,319 Commitments and contingencies (Note 7) 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: 29,584 shares and 28,995 shares at at August 30, 2024 and May 31, 2024, respectively 295 289 Additional paid-in-capital 140,812 130,612 Accumulated other comprehensive loss ( 134 ) ( 158 ) Accumulated deficit ( 18,490 ) ( 19,150 ) Total shareholders' equity 122,483 111,593 Total liabilities and shareholders' equity $ 145,862 $ 127,912 See accompanying Notes to Condensed Consolidated Financial Statements (unaudited) 3 Table of Contents AEHR TEST SYSTEMS CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended August 3

View Full Filing

View this 10-Q filing on SEC EDGAR