Aehr Test Systems 2025年季度报告

FORM 10-Q ☐QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGEACT OF 1934 For the quarterly period ended November 29, 2024 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGEACT 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) 94-2424084(I.R.S. Employer Identification No.) (State or Other Jurisdiction of Incorporationor Organization) 94539(Zip Code) 400 Kato Terrace, Fremont, CA(Address of Principal Executive Offices) (510) 623-9400(Registrant’s Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) of the Exchange Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) ofthe Securities Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was requiredto file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files). Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the ExchangeAct. If an emerging growth company, indicated by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☐ There were 29,711,804 shares of the Registrant’s Common Stock outstanding as of January 2, 2025. TABLE OF CONTENTS Page PART I FINANCIAL INFORMATIONItem 1. Financial Statements (Unaudited)3Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations21Item 3. Quantitative and Qualitative Disclosures About Market Risk26Item 4. Controls and Procedures26PART II OTHER INFORMATIONItem 1. Legal Proceedings27Item 1A. Risk Factors27Item 2. Unregistered Sales of Equity Securities and Use of Proceeds27Item 3. Defaults Upon Senior Securities27Item 4. Mine Safety Disclosures27Item 5. Other Information27Item 6. Exhibits28SIGNATURES29 Table of Contents PART I — FINANCIAL INFORMATION Item 1. Financial Statements (unaudited) AEHR TEST SYSTEMSCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) (In thousands, except par value)ASSETSCurrent assets: Table of Contents AEHR TEST SYSTEMSCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited) Table of Contents AEHR TEST SYSTEMSCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(Unaudited) AEHR TEST SYSTEMSCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) AEHR TEST SYSTEMSCondensed Consolidated Statements of Cash Flows(Unaudited) (In thousands)Cash flows from operating activities: Cash flows from investing activities:Purchases of property and equipment(518)(440)Proceeds from maturities of investments-18,000Payments for business acquisition, net of cash and cash equivalent acquired(10,615)-Net cash provided by (used in) investing activities(11,133)17,560 Effect of exchange rate changes on cash, cash equivalents and restricted cash(3)(16) Net increase (decrease) in cash, cash equivalents and restricted cash(14,141)20,460 Cash, cash equivalents and restricted cash, beginning of period(1)49,30930,204Cash, cash equivalents and restricted cash, end of period(1)$35,168$50,664 AEHR TEST SYSTEMSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Organization Aehr Test Systems (the “Company”) was incorporated in California in May 1977 and develops and manufacturestest and burn-in equipment used in the semiconductor industry. The Company’s principal products are the FOX-XP,FOX-NP, and FOX-CP wafer contact and singulated die/module parallel test and burn-in systems, the Sonoma,Tahoe and Echo packaged parts burn-in products, the WaferPak full wafer contactor, the DiePak carrier, theWaferPak aligner, the DiePak autoloader, and test fixtures. Basis of Presentation The unaudited Condensed Consolidated Financial Statements included in this quarterly report on Form 10-Q includethe accounts of the Company and its wholly-owned subsidiaries and have been prepared in accordance with U.S.generally accepted accounting principles (“GAAP”) for interim financial repo