Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $14.5M | $18.9M | $29.6M | $21.1M | $22.3M | $16.6M | $50.8M | $65.0M | $66.2M | $59.0M |
| Revenue growth | — | 30.3% | 56.4% | -28.8% | 5.9% | -25.5% | 206.2% | 27.8% | 1.9% | -10.9% |
| Gross profit | $5.14M | $6.78M | $12.4M | $7.60M | $8.37M | $6.03M | $23.7M | $32.7M | $32.5M | $23.9M |
| Gross margin | 35.5% | 35.9% | 41.9% | 36.1% | 37.6% | 36.3% | 46.6% | 50.4% | 49.1% | 40.6% |
| Operating income | -$6.15M | -$4.93M | $915K | -$5.00M | -$2.77M | -$4.18M | $7.80M | $13.4M | $10.1M | -$5.68M |
| Operating margin | -42.4% | -26.1% | 3.1% | -23.7% | -12.4% | -25.2% | 15.3% | 20.6% | 15.2% | -9.6% |
| Net income | -$6.79M | -$5.65M | $528K | -$5.24M | -$2.80M | -$2.03M | $9.45M | $14.6M | $33.2M | -$3.91M |
| Net margin | -46.8% | -29.9% | 1.8% | -24.9% | -12.6% | -12.2% | 18.6% | 22.4% | 50.1% | -6.6% |
| EPS (diluted) | -$0.52 | -$0.35 | $0.02 | -$0.23 | -$0.12 | -$0.09 | $0.34 | $0.50 | $1.12 | -$0.13 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.28M | -$4.50M | -$1.35M | -$5.64M | -$2.02M | -$2.70M | $1.51M | $10.0M | $1.76M | -$7.40M |
| Capital expenditures | $919K | $477K | $572K | $173K | $163K | $227K | $416K | $1.36M | $749K | $4.99M |
| Free cash flow | -$7.20M | -$4.97M | -$1.92M | -$5.81M | -$2.19M | -$2.93M | $1.09M | $8.65M | $1.01M | -$12.4M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $939K | $17.8M | $16.8M | $5.43M | $5.43M | $4.58M | $31.5M | $30.1M | $49.2M | $24.5M |
| Total assets | $10.0M | $30.9M | $31.0M | $21.3M | $20.6M | $21.7M | $62.3M | $98.1M | $128M | $149M |
| Total liabilities | $10.8M | $14.1M | $11.7M | $5.85M | $6.52M | $10.2M | $11.3M | $22.5M | $16.3M | $25.6M |
| Long-term debt | $5.96M | $6.11M | $0.00 | $0.00 | $1.03M | $0.00 | — | — | — | — |
| Shareholders' equity | -$703K | $16.8M | $19.3M | $15.5M | $14.1M | $11.4M | $51.0M | $75.6M | $112M | $123M |
| Retained earnings | -$61.1M | -$66.8M | -$66.2M | -$71.5M | -$74.3M | -$76.3M | -$66.9M | -$52.3M | -$19.1M | -$23.1M |
| Shares (wtd avg diluted) | 13.1M | 16.3B | 22.8B | 22.4B | 22.9M | 23.5M | 27.8M | 29.2M | 29.6M | 29.6M |
Every figure is extracted from AEHR TEST SYSTEMS’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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