AEHR TEST SYSTEMS (AEHR) FY2025 10-K Annual Report
AEHR TEST SYSTEMS (AEHR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Jul 28, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
AEHR TEST SYSTEMS FY2025 10-K Analysis
Business Overview
- • Core business: Provider of semiconductor test, burn-in, and reliability screening solutions for wafers, singulated die, modules, and packaged parts
- • New emphasis: Expansion into packaged part burn-in systems after Incal Technology acquisition; Sonoma series supports up to 2000 watts for AI accelerators, GPUs, HPC processors
Management Discussion & Analysis
- • Revenue $59.0M, down $7.3M (10.9%) YoY due to lower systems and contactor shipments, partly offset by $1.7M increase in services revenue
- • Gross margin 40.6% vs 49.1% YoY, decline of 8.5 points from amortization, inventory variance, lower shipments, product mix
Risk Factors
- • Regulatory/legal risk: Potential indemnification liabilities for third-party IP infringement claims, with uncertain maximum potential damages and costly litigation risk
- • Geopolitical/macroeconomic threat: 70% net sales outside U.S.; U.S.-China trade tensions risk decreasing China sales and increasing component costs materially
AEHR TEST SYSTEMS FY2025 Key Financial MetricsXBRL
Revenue
$59M
▼ -10.9% YoY
Net Income
-$4M
▼ -111.8% YoY
Gross Margin
40.6%
▼ -856bp YoY
Operating Margin
-9.6%
▼ -2485bp YoY
Net Margin
-6.6%
▼ -5670bp YoY
ROE
-3.2%
▼ -3289bp YoY
Total Assets
$149M
▲ +16.1% YoY
EPS (Diluted)
$-0.13
▼ -111.6% YoY
Operating Cash Flow
-$7M
▼ -521.4% YoY
Source: XBRL data from AEHR TEST SYSTEMS FY2025 10-K filing on SEC EDGAR. All figures in USD.
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