# Aehr Test Systems (AEHR)

**Exchange:** NASDAQ  
**Sector:** Technology  
**Market cap:** $2.76B  
**Price:** $93.32 (-1.05%)

> Aehr Test Systems is a semiconductor equipment company that designs, manufactures, markets, and sells advanced test and burn-in systems for integrated circuits. The company focuses on wafer-level and packaged part testing solutions that help semiconductor manufacturers improve device reliability and production yields. Its product portfolio includes FOX-XP, FOX-NP, and FOX-CP wafer contact parallel test and burn-in systems, as well as WaferPak full wafer contactors, DiePak carriers, aligners, autoloaders, and related test fixtures. Aehr Test Systems plays a significant role in supporting high-reliability applications, particularly in markets such as automotive, mobility, silicon carbide, gallium nitride, optical photonics, and memory devices, where stringent quality and endurance requirements are critical. Operating from its headquarters in Fremont, California, and founded in 1977, the company serves semiconductor manufacturers across multiple geographic regions as a specialized provider within the broader semiconductor equipment and materials sector.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $59M | $24M | -$6M | -$4M | — |
| 2024 | $66M | $33M | $10M | $33M | — |
| 2023 | $65M | $33M | $13M | $15M | — |
| 2022 | $51M | $24M | $8M | $9M | — |
| 2021 | $17M | $6M | -$4M | -$2M | — |
| 2020 | $22M | $8M | -$3M | -$3M | — |
| 2019 | $21M | $8M | -$5M | -$5M | — |
| 2018 | $30M | $12M | $915,000 | $528,000 | — |
| 2017 | $19M | $7M | -$5M | -$6M | — |
| 2016 | $15M | $5M | -$6M | -$7M | — |
| 2015 | $10M | $4M | -$7M | -$7M | — |
| 2014 | $20M | $10M | $497,000 | $422,000 | — |
| 2013 | $16M | $7M | -$3M | -$3M | — |
| 2012 | $16M | $6M | -$5M | -$3M | — |
| 2011 | $14M | $6M | -$4M | -$3M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $149M | $26M | $123M | $25M | — |
| 2024 | $128M | $16M | $112M | $49M | — |
| 2023 | $98M | $23M | $76M | $30M | — |
| 2022 | $62M | $11M | $51M | $31M | — |
| 2021 | $22M | $10M | $11M | $5M | — |
| 2020 | $21M | $7M | $14M | $5M | $1M |
| 2019 | $21M | $6M | $15M | $5M | — |
| 2018 | $31M | $12M | $19M | $17M | — |
| 2017 | $31M | $14M | $17M | $18M | $6M |
| 2016 | $10M | $11M | -$703,000 | $939,000 | $6M |
| 2015 | $15M | $10M | $5M | $6M | $4M |
| 2014 | $12M | $5M | $7M | $2M | — |
| 2013 | $11M | $6M | $5M | $2M | — |
| 2012 | $12M | $5M | $6M | $2M | — |
| 2011 | $12M | $3M | $9M | $4M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$7M | $5M | -$12M |
| 2024 | $2M | $749,000 | $1M |
| 2023 | $10M | $1M | $9M |
| 2022 | $2M | $416,000 | $1M |
| 2021 | -$3M | $227,000 | -$3M |
| 2020 | -$2M | $163,000 | -$2M |
| 2019 | -$6M | $173,000 | -$6M |
| 2018 | -$1M | $572,000 | -$2M |
| 2017 | -$4M | $477,000 | -$5M |
| 2016 | -$6M | $919,000 | -$7M |
| 2015 | -$2M | $118,000 | -$2M |
| 2014 | -$607,000 | $339,000 | -$946,000 |
| 2013 | -$310,000 | $127,000 | -$437,000 |
| 2012 | -$5M | $45,000 | -$5M |
| 2011 | -$4M | $15,000 | -$4M |

Source: [CompaniesByCap](https://companiesbycap.com/company/AEHR)