AI-extracted from the 10-K filed 2026-07-27 — FY2026 (year ended May 29, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue declined 15% YoY to $50.0M as electric vehicle power semiconductor softness offset silicon photonics gains; company swung to $7.1M net loss with gross margin compression to 35.3%.
Biggest Revenue Drivers
Services$6.4M+4.9% YoY
Service contracts and extended warranties
Biggest Revenue Drivers
Total revenue: $50.0M-15.2% YoY
Services$6.4M+4.9% YoY
Service contracts and extended warranties
Largest Expense Items
Cost of revenue$32.4M-7.7% YoY
Higher assembly and warranty costs, increased freight, and higher tariffs on imported parts
Research and development$12.6M+20.7% YoY
Higher employment-related costs and stock-based compensation from increased headcount; increased allocated office expenses
Selling, general and administrative$19.2M+4.8% YoY
Higher employment-related costs and stock-based compensation partially offset by lower legal and professional service fees
Watch Items from the Filing
Three customers represent 26%, 14%, and 11% of FY2026 revenue; five largest customers account for 70% of sales. Loss of major customer could materially adversely affect business.
Company incurred $7.1M net loss in FY2026 despite prior year release of $21.9M valuation allowance. No valuation allowance currently recorded as of May 29, 2026, assuming return to profitability in FY2027.
Asia revenue fell 38.5% YoY to $22.8M due to EV power semiconductor softness, though partially offset by 55.6% increase in Europe/Middle East and 16.8% increase in US from silicon photonics demand.
Backlog of $80.6M as of May 29, 2026 increased significantly from $15.2M at May 30, 2025; however, backlog is not necessarily indicative of future revenues due to possible customer changes in delivery schedules or cancellations.
Company raised $97.4M net proceeds through ATM offering in fiscal 2026, increasing cash to $116.4M from $24.5M; provides financial flexibility but indicates capital adequacy concerns at prior revenue levels.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About AEHR TEST SYSTEMS (AEHR): stock profile, AI score and financials
AEHR TEST SYSTEMS (AEHR) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores AEHR at 17.6/100 on a composite quality score built from its SEC filings, placing it at rank #2,786 of 2,925 stocks — the bottom half of the AI-ranked universe. AEHR scores in the top quartile across institutional flow (90.9). Areas of concern include revenue growth (6.6) and revenue scale (9.0), which score below median versus the broader universe. Shareholder dilution risk is elevated at 12.5/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q4 2026), AEHR TEST SYSTEMS reports quarterly revenue of $18.8M, net income of $1.4M, an operating margin of -6.4%. Top institutional holders of AEHR by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, D. E. Shaw, based on the most recent SEC filings. AEHR trades on the Nasdaq exchange and files with the SEC under CIK 1040470. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate AEHR daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for AEHR TEST SYSTEMS directly from SEC EDGAR.