For fiscal 2026 (ended May 29, 2026), Aehr Test Systems reported $50.00M of revenue and -$7.13M of net income.
AEHR revenue was $33.01M in fiscal Q1 2027 (ended Sep 25, 2026), up 200.9% from a year earlier. For the full fiscal 2026 it was $50.00M, down 15.2% from fiscal 2025. Compound annual growth was +24.7% over 5 years and +13.2% over 10 years. It rose in 6 of the last 10 fiscal years.
AEHR net income was $7.18M in fiscal Q1 2027 (ended Sep 25, 2026), compared with -$2.08M a year earlier. For the full fiscal 2026 it was -$7.13M, compared with -$3.91M in fiscal 2025.
AEHR diluted EPS was $0.21 in fiscal Q1 2027 (ended Sep 25, 2026), compared with -$0.07 a year earlier. For the full fiscal 2026 it was -$0.23, compared with -$0.13 in fiscal 2025.
AEHR free cash flow was -$3.10M in fiscal Q1 2027 (ended Sep 25, 2026), compared with -$1.67M a year earlier. For the full fiscal 2026 it was -$5.38M, compared with -$12.39M in fiscal 2025.
| Line item | May 29, 2026 | May 30, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | May 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $50.00M | $58.97M | $66.22M | $64.96M | $50.83M | $16.60M | $22.29M | $21.06M | $29.55M | $18.90M |
| Cost of revenue | $32.35M | $35.03M | $33.67M | $32.22M | $27.16M | $10.57M | $13.92M | $13.45M | $17.17M | $12.12M |
| Gross profit | $17.65M | $23.93M | $32.54M | $32.75M | $23.66M | $6.03M | $8.37M | $7.60M | $12.39M | $6.78M |
| Research and development | $12.63M | $10.46M | $8.72M | $7.13M | $5.82M | $3.65M | $3.39M | $4.15M | $4.18M | $4.66M |
| Selling, general and admin | $19.16M | $18.28M | $13.75M | $12.24M | $10.05M | $6.56M | $7.53M | $7.72M | $7.29M | $7.05M |
| Operating income | -$14.15M | -$5.68M | $10.08M | $13.38M | $7.80M | -$4.18M | -$2.77M | -$5.00M | $915.0K | -$4.93M |
| Interest expense | - | - | - | - | - | - | - | $252.0K | $399.0K | $678.0K |
| Pre-tax income | -$11.74M | -$4.29M | $12.46M | $14.62M | $9.54M | -$2.20M | -$2.77M | -$5.21M | $455.0K | -$5.63M |
| Income tax | -$4.61M | -$381.0K | -$20.70M | $60.0K | $91.0K | -$177.0K | -$36.0K | $27.0K | -$73.0K | $25.0K |
| Net income | -$7.13M | -$3.91M | $33.16M | $14.56M | $9.45M | -$2.03M | -$2.80M | -$5.24M | $528.0K | -$5.65M |
| EPS, basic | -$0.23 | -$0.13 | $1.15 | $0.52 | $0.36 | -$0.09 | -$0.12 | -$0.23 | $0.02 | -$0.35 |
| EPS, diluted | -$0.23 | -$0.13 | $1.12 | $0.50 | $0.34 | -$0.09 | -$0.12 | -$0.23 | $0.02 | -$0.35 |
| Diluted shares | 30.7M | 29.6M | 29.6M | 29.2M | 27.8M | 23.5M | 22.9M | 22,387 | 22,782 | 16,267 |
| Line item | May 29, 2026 | May 30, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | May 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $116.36M | $26.48M | $49.31M | $30.20M | $31.56M | $4.66M | $5.51M | $5.51M | $16.93M | $17.88M |
| Short-term investments | - | - | $0 | $17.85M | - | - | - | - | - | $0 |
| Receivables | - | - | - | - | $12.86M | $5.20M | $3.72M | $4.86M | $2.86M | $4.01M |
| Inventory | $41.35M | $42.00M | $37.47M | $23.91M | $15.05M | $8.85M | $7.99M | $9.06M | $9.05M | $6.60M |
| Current assets | $184.45M | $88.78M | $97.85M | $89.03M | $60.01M | $19.18M | $17.65M | $20.03M | $29.46M | $29.38M |
| Goodwill | $10.72M | $10.72M | $0 | - | - | - | - | - | - | - |
| Total assets | $246.69M | $148.51M | $127.91M | $98.14M | $62.33M | $21.66M | $20.57M | $21.31M | $30.95M | $30.89M |
| Current liabilities | $17.86M | $15.64M | $10.51M | $16.31M | $11.01M | $9.06M | $3.87M | $5.51M | $11.15M | $7.88M |
| Short-term debt | - | - | - | - | $0 | $1.68M | $653.0K | $0 | $6.11M | $0 |
| Long-term debt | - | - | - | - | - | $0 | $1.03M | $0 | - | - |
| Total debt | - | - | - | - | - | $1.68M | $1.68M | $0 | $0 | $6.11M |
| Total liabilities | $27.18M | $25.64M | $16.32M | $22.54M | $11.34M | $10.22M | $6.52M | $5.85M | $11.67M | $14.10M |
| Shareholders' equity | $219.51M | $122.87M | $111.59M | $75.60M | $50.99M | $11.45M | $14.06M | $15.45M | $19.29M | $16.79M |
| Line item | May 29, 2026 | May 30, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | May 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.31M | -$7.40M | $1.76M | $10.01M | $1.51M | -$2.70M | -$2.02M | -$5.64M | -$1.35M | -$4.50M |
| Capital expenditures | $2.07M | $4.99M | $749.0K | $1.36M | $416.0K | $227.0K | $163.0K | $173.0K | $572.0K | $477.0K |
| Free cash flow | -$5.38M | -$12.39M | $1.01M | $8.65M | $1.09M | -$2.93M | -$2.19M | -$5.81M | -$1.92M | -$4.97M |
| Investing cash flow | -$3.87M | -$16.07M | $17.25M | -$18.66M | -$416.0K | -$227.0K | -$163.0K | -$173.0K | -$572.0K | -$477.0K |
| Financing cash flow | $97.21M | $625.0K | $139.0K | $7.32M | $25.76M | $1.96M | $2.17M | -$5.55M | $925.0K | $21.84M |
| Stock-based compensation | $6.76M | $5.16M | $2.52M | $2.75M | $3.01M | $1.10M | $910.0K | $905.0K | $996.0K | $999.0K |
| Depreciation and amortization | $2.80M | $2.31M | $657.0K | $450.0K | $356.0K | $328.0K | $384.0K | $431.0K | $417.0K | $271.0K |
| Line item | May 29, 2026 | May 30, 2025 | May 31, 2024 | May 31, 2023 | May 31, 2022 | May 31, 2021 | May 31, 2020 | May 31, 2019 | May 31, 2018 | May 31, 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -15.2% | -10.9% | 1.9% | 27.8% | 206.2% | -25.5% | 5.9% | -28.8% | 56.4% | 30.3% |
| Net income growth, YoY | - | - | 127.8% | 54.0% | - | - | - | - | - | - |
| EPS growth, YoY | - | - | 124.0% | 47.1% | - | - | - | - | - | - |
| Gross margin | 35.3% | 40.6% | 49.1% | 50.4% | 46.6% | 36.3% | 37.6% | 36.1% | 41.9% | 35.9% |
| Operating margin | -28.3% | -9.6% | 15.2% | 20.6% | 15.3% | -25.2% | -12.4% | -23.7% | 3.1% | -26.1% |
| Net margin | -14.3% | -6.6% | 50.1% | 22.4% | 18.6% | -12.2% | -12.6% | -24.9% | 1.8% | -29.9% |
| Free cash flow margin | -10.8% | -21.0% | 1.5% | 13.3% | 2.1% | -17.6% | -9.8% | -27.6% | -6.5% | -26.3% |
| Return on equity | -3.2% | -3.2% | 29.7% | 19.3% | 18.5% | -17.7% | -19.9% | -33.9% | 2.7% | -33.7% |
| Return on assets | -2.9% | -2.6% | 25.9% | 14.8% | 15.2% | -9.4% | -13.6% | -24.6% | 1.7% | -18.3% |
| Current ratio | 10.33 | 5.68 | 9.31 | 5.46 | 5.45 | 2.12 | 4.57 | 3.63 | 2.64 | 3.73 |
| Debt to equity | - | - | - | - | - | 0.15 | 0.12 | 0.00 | 0.00 | 0.36 |
| Line item | Sep 25, 2026 | May 29, 2026 | Feb 27, 2026 | Nov 28, 2025 | Aug 29, 2025 | May 30, 2025 | Feb 28, 2025 | Nov 29, 2024 | Aug 30, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.01M | $18.84M | $10.31M | $9.88M | $10.97M | $14.09M | $18.31M | $13.45M | $13.12M | $16.60M | $7.56M | $21.43M |
| Cost of revenue | $17.34M | $10.82M | $6.95M | $7.34M | $7.25M | $9.82M | $11.12M | $8.05M | $6.04M | $8.15M | $4.41M | $10.47M |
| Gross profit | $15.66M | $8.02M | $3.37M | $2.54M | $3.72M | $4.27M | $7.18M | $5.40M | $7.08M | $8.45M | $3.16M | $10.96M |
| Research and development | $4.14M | $3.65M | $3.17M | $2.97M | $2.85M | $2.69M | $3.14M | $2.28M | $2.36M | $2.15M | $2.14M | $1.97M |
| Selling, general and admin | $5.47M | $5.58M | $4.43M | $4.43M | $4.72M | $3.93M | $5.16M | $4.64M | $4.56M | $3.76M | $3.06M | $3.52M |
| Operating income | $6.05M | -$1.21M | -$4.23M | -$4.65M | -$4.07M | -$3.20M | -$1.12M | -$1.51M | $159.0K | $2.54M | -$2.05M | $5.47M |
| Pre-tax income | $6.93M | -$455.0K | -$4.00M | -$4.44M | -$2.84M | -$2.99M | -$874.0K | -$1.25M | $814.0K | $3.12M | -$1.46M | $6.11M |
| Income tax | -$254.0K | -$1.85M | -$798.0K | -$1.21M | -$752.0K | -$87.0K | -$231.0K | -$217.0K | $154.0K | -$20.74M | $7.0K | $20.0K |
| Net income | $7.18M | $1.39M | -$3.20M | -$3.23M | -$2.08M | -$2.90M | -$643.0K | -$1.03M | $660.0K | $23.86M | -$1.47M | $6.09M |
| EPS, basic | $0.22 | $0.05 | -$0.10 | -$0.11 | -$0.07 | -$0.10 | -$0.02 | -$0.03 | $0.02 | $0.83 | -$0.05 | $0.21 |
| EPS, diluted | $0.21 | $0.05 | -$0.10 | -$0.11 | -$0.07 | -$0.10 | -$0.02 | -$0.03 | $0.02 | $0.81 | -$0.05 | $0.20 |
| Diluted shares | 33.5M | - | 30.7M | 30.2M | 29.9M | - | 29.7M | 29.7M | 29.6M | - | 28.9M | 29.8M |
| Line item | Sep 25, 2026 | May 29, 2026 | Feb 27, 2026 | Nov 28, 2025 | Aug 29, 2025 | May 30, 2025 | Feb 28, 2025 | Nov 29, 2024 | Aug 30, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $104.90M | $116.36M | $36.91M | $30.84M | $24.66M | $26.48M | $31.36M | $35.17M | $40.78M | $49.31M | $47.73M | $50.66M |
| Short-term investments | - | - | - | - | - | - | - | - | - | $0 | $0 | $0 |
| Inventory | $53.12M | $41.35M | $41.16M | $42.72M | $41.84M | $42.00M | $42.33M | $43.78M | $42.97M | $37.47M | $38.09M | $33.82M |
| Current assets | $195.88M | $184.45M | $95.90M | $88.19M | $84.05M | $88.78M | $91.70M | $88.52M | $92.92M | $97.85M | $92.35M | $91.77M |
| Goodwill | $10.72M | $10.72M | $10.72M | $10.72M | $10.72M | $10.72M | $10.74M | $10.74M | $10.35M | $0 | - | - |
| Total assets | $258.78M | $246.69M | $157.05M | $148.73M | $144.09M | $148.51M | $145.61M | $142.28M | $145.86M | $127.91M | $101.60M | $101.17M |
| Current liabilities | $27.40M | $17.86M | $8.74M | $8.30M | $11.91M | $15.64M | $16.06M | $11.72M | $15.42M | $10.51M | $9.18M | $7.96M |
| Total liabilities | $36.67M | $27.18M | $18.25M | $17.96M | $21.70M | $25.64M | $21.40M | $19.10M | $23.38M | $16.32M | $15.10M | $14.02M |
| Shareholders' equity | $222.11M | $219.51M | $138.79M | $130.78M | $122.39M | $122.87M | $124.21M | $123.18M | $122.48M | $111.59M | $86.50M | $87.15M |
| Line item | Sep 25, 2026 | May 29, 2026 | Feb 27, 2026 | Nov 28, 2025 | Aug 29, 2025 | May 30, 2025 | Feb 28, 2025 | Nov 29, 2024 | Aug 30, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.05M | $1.83M | -$3.69M | -$1.17M | -$282.0K | -$2.30M | -$1.60M | -$5.87M | $2.38M | $1.22M | -$2.82M | -$545.0K |
| Capital expenditures | $49.0K | $134.0K | $74.0K | $467.0K | $1.39M | $2.82M | $1.66M | $321.0K | $197.0K | $46.0K | $263.0K | $156.0K |
| Free cash flow | -$3.10M | $1.70M | -$3.76M | -$1.64M | -$1.67M | -$5.12M | -$3.26M | -$6.19M | $2.18M | $1.18M | -$3.09M | -$701.0K |
| Investing cash flow | -$49.0K | -$134.0K | -$74.0K | -$2.27M | -$1.39M | -$2.82M | -$2.12M | -$321.0K | -$10.81M | -$46.0K | -$263.0K | -$156.0K |
| Financing cash flow | -$4.30M | $77.76M | $9.83M | $9.78M | -$158.0K | $251.0K | -$114.0K | $594.0K | -$106.0K | $421.0K | $158.0K | $254.0K |
| Stock-based compensation | $1.88M | $1.86M | $1.38M | $1.84M | $1.67M | $1.42M | $1.80M | $1.07M | $870.0K | $774.0K | $584.0K | $638.0K |
| Depreciation and amortization | $707.0K | $689.0K | $677.0K | $690.0K | $743.0K | $739.0K | $620.0K | $606.0K | $347.0K | $188.0K | $186.0K | $145.0K |
| Line item | Sep 25, 2026 | May 29, 2026 | Feb 27, 2026 | Nov 28, 2025 | Aug 29, 2025 | May 30, 2025 | Feb 28, 2025 | Nov 29, 2024 | Aug 30, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 200.9% | 33.7% | -43.7% | -26.5% | -16.4% | -15.1% | 142.1% | -37.2% | -36.4% | -25.5% | -56.0% | 44.7% |
| Net income growth, YoY | - | - | - | - | - | - | - | - | -85.9% | 290.5% | - | 63.5% |
| EPS growth, YoY | - | - | - | - | - | - | - | - | -87.5% | - | - | - |
| Gross margin | 47.5% | 42.6% | 32.7% | 25.7% | 33.9% | 30.3% | 39.2% | 40.1% | 54.0% | 50.9% | 41.7% | 51.1% |
| Operating margin | 18.3% | -6.4% | -41.0% | -47.0% | -37.1% | -22.7% | -6.1% | -11.2% | 1.2% | 15.3% | -27.1% | 25.5% |
| Net margin | 21.8% | 7.4% | -31.1% | -32.7% | -19.0% | -20.6% | -3.5% | -7.6% | 5.0% | 143.8% | -19.4% | 28.4% |
| Free cash flow margin | -9.4% | 9.0% | -36.5% | -16.6% | -15.3% | -36.3% | -17.8% | -46.0% | 16.6% | 7.1% | -40.8% | -3.3% |
| Current ratio | 7.15 | 10.33 | 10.97 | 10.62 | 7.06 | 5.68 | 5.71 | 7.55 | 6.03 | 9.31 | 10.06 | 11.53 |
Source: XBRL data Aehr Test Systems files with the SEC, latest filing dated Nov 6, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| AEHR | $50.00M | -15.2% | -$7.13M | -14.3% | $1.95B |
| APH | $33.05B | +57.6% | $5.93B | 18.0% | $199.29B |
| TER | $5.00B | +74.9% | $1.37B | 27.5% | $38.41B |
| FLEX | $30.95B | +17.5% | $1.04B | 3.4% | $28.88B |
| VLTO | $5.80B | +6.4% | $1.00B | 17.3% | $28.70B |
| CLS | $18.23B | +61.6% | $1.25B | 6.8% | $28.11B |
| JBL | $35.95B | +20.6% | $1.04B | 2.9% | $26.01B |
| HUBB | $6.59B | +16.0% | $908.90M | 13.8% | $23.33B |
| LFUS | $2.76B | +18.7% | $37.79M | 1.4% | $9.80B |