UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ______________ Commission File Number 000-22893 AEHR TEST SYSTEMS (Exact name of Registrant as Specified in its Charter) California 94-2424084 (Sta ...

Shares of Aehr Test Systems (AEHR -16.82%) fell 16.8% on Wednesday after the semiconductor test equipment company's weak forward outlook overshadowed an otherwise solid quarterly report.For Aehr's fiscal second quarter 2024 ended Nov. 30, 2023, revenue grew 45% year over year to $21.4 million, translating to adjusted non-GAAP (generally accepted accounting principles) net income of $6.7 million, or $0.23 per share. Analysts, on average, were only expecting earnings of $0.19 per share on revenue of $20.9 mil ...

Small-cap stocks are set to have their day in the sun this year, and not just because favorable economic and monetary policy conditions are set to put wind in their sales. Instead, investors are increasingly nervous about the high-flying large- and mega-cap tech stocks that beat all odds to rally substantially in 2023.But the rally that sent the Nasdaq 100 soaring nearly 50% in 2023 came with a price – overvaluation. Today, the index’s average price-to-earnings ratio sits at a whopping 29.15, indicating tha ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $21.4 million, an increase of 45% year-over-year from $14.8 million in Q2 2023 [5][32] - Non-GAAP net income was $6.7 million, representing a net profit margin of slightly over 31% [6][35] - For the first half of fiscal 2024, revenue grew by 65% compared to the same period last year [6] - GAAP gross margin for Q2 2024 was 51.1%, down from 53.4% in Q2 2023, primarily due to high inventory reserves and increased period costs [33] - Operating expenses increased by 24% year-over-year to $5.5 million, driven by higher headcount-related expenses [33] Business Line Data and Key Metrics Changes - WaferPak revenues were $9.2 million, accounting for 43% of total revenue, consistent with 45% in the prior year [32] - The revenue mix has shifted towards fewer systems and more WaferPaks due to customer design changes [9] Market Data and Key Metrics Changes - The slowing growth in the electric vehicle market has negatively impacted order timing, but the silicon carbide market is not decreasing, only experiencing a slower growth rate [6][10] - The total silicon carbide market is projected to grow at a CAGR of over 4% annually, reaching $8.5 billion by 2025, with significant opportunities in industrial and energy power conversion applications [21] Company Strategy and Development Direction - The company is taking a conservative approach to its fiscal year forecast, reducing revenue expectations by 15% to 25% to a range of $75 million to $85 million, still representing a year-over-year growth of 15% to 30% [10][39] - Aehr is expanding its customer base for silicon carbide and gallium nitride wafer-level burn-in solutions, with seven customers currently purchasing these solutions [18] - The company is investing in R&D and expanding manufacturing capacity to meet customer needs and reduce lead times [20][36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term demand for wafer-level burn-in solutions despite current order timing uncertainties [10][30] - The company remains optimistic about future growth opportunities in various markets, including battery and hybrid electric vehicles, industrial power conversion, and telecommunications [11][30] Other Important Information - The company has maintained a strong cash position of $50.5 million at the end of Q2 2024, flat from the previous quarter [36] - Interest income for Q2 2024 was $631,000, up from $263,000 in the same quarter last year [38] Q&A Session Summary Question: Anticipated revenue orders for the second half of the year - Management expects the second half of the fiscal year to be stronger than the first half, with a potential 60:40 split between Q4 and Q3 [43] Question: Long-term growth expectations - Management refrained from providing specific multi-year growth rates but indicated confidence in exceeding $100 million in revenue in the future [46][48] Question: Customer materiality in fiscal year 2025 - Management believes that significant customers will remain material but may not be the dominant source of revenue as other customers ramp up [50][52] Question: Targeting the Chinese market - The company is actively engaging with Chinese suppliers and exploring strategies to protect its IP while participating in the growing Chinese market for silicon carbide [54][56] Question: Recent changes in demand visibility - Management acknowledged a material change in demand visibility over the last 30 days, primarily due to shifts in customer forecasts [58][60] Question: Inventory and pricing strategy - Management is confident in maintaining pricing and margins despite increased inventory, emphasizing that they have not experienced pricing erosion [65][68]

Aehr Test Systems (AEHR) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 27.78%. A quarter ago, it was expected that this company would post earnings of $0.20 per share when it actually produced earnings of $0.18, delivering a surprise of -10%.Over the last four quarters, the company ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended August 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________ to ______________ Commission File Number 000-22893 AEHR TEST SYSTEMS (Exact name of Registrant as Specified in its Charter) California 94-2424084 (State ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-K (Mark One) ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended May 31, 2023 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ________________ to ________________ Commission file number: 000-22893. AEHR TEST SYSTEMS (Exact name of registrant as specified in its charter) California 94-2424084 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended February 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 000-22893 AEHR TEST SYSTEMS (Exact name of Registrant as specified in its charter) California 94-2424084 (State or oth ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended November 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number: 000-22893 AEHR TEST SYSTEMS (Exact name of Registrant as specified in its charter) California 94-2424084 (State or oth ...