Aehr Test Systems 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period endedNovember 28, 2025 or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT 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.) California(State or Other Jurisdiction of Incorporation or 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) of the Securities Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen 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 be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submitsuch files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicated by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(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 30,627,342 shares of the Registrant’s Common Stock outstanding as ofJanuary 2, 2026. 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 Operations20Item 3. Quantitative and Qualitative Disclosures About Market Risk25Item 4. Controls and Procedures25PART II OTHER INFORMATIONItem 1. Legal Proceedings26Item 1A. Risk Factors26Item 2. Unregistered Sales of Equity Securities and Use of Proceeds26Item 3. Defaults Upon Senior Securities26Item 4. Mine Safety Disclosures26Item 5. Other Information26Item 6. Exhibits27SIGNATURES28 AEHR TEST SYSTEMSCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) AEHR TEST SYSTEMSCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(Unaudited) AEHR TEST SYSTEMSCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS(Unaudited) AEHR TEST SYSTEMSCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY(Unaudited) AEHR TEST SYSTEMSCONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY(Unaudited) AEHR TEST SYSTEMSCondensed Consolidated Statements of Cash Flows(Unaudited) 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 manufactures test and burn-inequipment used in the semiconductor industry.The Company’s principal products are the FOX-XP, FOX-NP, and FOX-CP wafercontact and singulated die/module parallel test and burn-in systems, the Sonoma, Tahoe and Echo packaged parts burn-in products, theWaferPak full wafer contactor, the DiePak carrier, the WaferPak 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 include the accounts ofthe Company and its wholly-owned subsidiaries and have been prepared in accordance with U.S. generally accepted accountingprinciples (“GAAP”) for interim financial reporting and the rules and regulations of the Securities and Exchange Commission (the“SEC”) for interim reporting. Accordingly, the unaudited Condensed Consolidated Financial Statements do not include certaininformation and footnote disclosures normally included in the annual consolidated financial statements. In the opinion of management,the unaudited Condensed Consolidated Financial Statements for the interim periods presented have been prepared on a basis consistentwith the May 30, 2025 audited Consolidated Financial Statements and reflect all adjustments, consisting of normal recurringadjustments, necessary for a fair presentation of the condensed consolidated financial position a