10-Q Filing

AEHR TEST SYSTEMS CIK: 1040470 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-20-011155`
Period End Date	20200831
Filing Date	20201014
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	aehr-20200831.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 36 Cash Flow Statement 46 Stockholders Equity 18 Comprehensive Income 12

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value per share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value per share (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.43M	USD	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	75,000.00	shares	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	75,000.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.31M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$1.12M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$3.72M	USD	Point-in-time
Common stock, shares issued (in thousands)	`CommonStockSharesIssued`	23,107.00	shares	Point-in-time
Common stock, shares issued (in thousands)	`CommonStockSharesIssued`	23,291.00	shares	Point-in-time
Inventories	`InventoryNet`	$7.99M	USD	Point-in-time
Common stock, shares outstanding (in thousands)	`CommonStockSharesOutstanding`	23,291.00	shares	Point-in-time
Inventories	`InventoryNet`	$8.10M	USD	Point-in-time
Common stock, shares outstanding (in thousands)	`CommonStockSharesOutstanding`	23,107.00	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$439.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$512.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$15.97M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$17.65M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$622.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$663.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$2.11M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.95M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$153.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$147.00K	USD	Point-in-time
Total assets	`Assets`	$18.69M	USD	Point-in-time
Total assets	`Assets`	$20.57M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$945.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$809.00K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.37M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.44M	USD	Point-in-time
Operating lease liabilities, short-term	`OperatingLeaseLiabilityCurrent`	$671.00K	USD	Point-in-time
Operating lease liabilities, short-term	`OperatingLeaseLiabilityCurrent`	$658.00K	USD	Point-in-time
Customer deposits and deferred revenue, short-term	`CustomerDepositsAndDeferredRevenueShortTerm`	$387.00K	USD	Point-in-time
Customer deposits and deferred revenue, short-term	`CustomerDepositsAndDeferredRevenueShortTerm`	$170.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$933.00K	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$653.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.87M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.17M	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$1.43M	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$1.60M	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$746.00K	USD	Point-in-time
Long-term debt, net of current portion	`LongTermDebtNoncurrent`	$1.03M	USD	Point-in-time
Deferred revenue, long -term	`DeferredRevenueNoncurrent`	$19.00K	USD	Point-in-time
Deferred revenue, long -term	`DeferredRevenueNoncurrent`	$22.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$6.52M	USD	Point-in-time
Total liabilities	`Liabilities`	$6.37M	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 23,291 shares and 23,107 shares at August 31, 2020 and May 31, 2020, respectively	`CommonStockValue`	$231.00K	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 23,291 shares and 23,107 shares at August 31, 2020 and May 31, 2020, respectively	`CommonStockValue`	$233.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$85.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$86.36M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-67.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$2.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-74.20M	USD	Point-in-time
Total Aehr Test Systems shareholders' equity	`StockholdersEquity`	$14.08M	USD	Point-in-time
Total Aehr Test Systems shareholders' equity	`StockholdersEquity`	$12.32M	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	$-21.00K	USD	Point-in-time
Noncontrolling interest	`MinorityInterest`	-	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$12.32M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.06M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.45M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.29M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$18.69M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$20.57M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$5.53M	USD	1 Quarter
Net sales	`Revenues`	$2.01M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.26M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.78M	USD	1 Quarter
Gross profit	`GrossProfit`	$227.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.27M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.51M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.81M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$892.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$900.00K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.70M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.19M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-429.00K	USD	1 Quarter
Interest (expense) income, net	`InterestIncomeExpenseNet`	$-13.00K	USD	1 Quarter
Interest (expense) income, net	`InterestIncomeExpenseNet`	$12.00K	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	$2.19M	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$10.00K	USD	1 Quarter
Other (expense) income, net	`OtherNonoperatingIncomeExpense`	$-94.00K	USD	1 Quarter
Loss before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-108.00K	USD	1 Quarter
Loss before income tax benefit (expense)	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-407.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Income tax benefit (expense)	`IncomeTaxExpenseBenefit`	$-215.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$107.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-413.00K	USD	1 Quarter
Less: Net income attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Less: Net income attributable to the noncontrolling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Net income (loss) attributable to Aehr Test Systems common shareholders	`NetIncomeLoss`	$-413.00K	USD	1 Quarter
Net income (loss) attributable to Aehr Test Systems common shareholders	`NetIncomeLoss`	$107.00K	USD	1 Quarter
Net income (loss) per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Net income (loss) per share: basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Shares used in per share calculations: basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	22,708.00	shares	1 Quarter
Shares used in per share calculations: basic (in thousands)	`WeightedAverageNumberOfSharesOutstandingBasic`	23,248.00	shares	1 Quarter
Shares used in per share calculations: diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	22,708.00	shares	1 Quarter
Shares used in per share calculations: diluted (in thousands)	`WeightedAverageNumberOfDilutedSharesOutstanding`	23,455.00	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$107.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-413.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$199.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$270.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$95.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$82.00K	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	$2.19M	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Income tax benefit related to dissolution of Aehr Test Systems Japan	`IncomeTaxBenefitRelatedToDissolutionOfSubsidiary`	$-215.00K	USD	1 Quarter
Income tax benefit related to dissolution of Aehr Test Systems Japan	`IncomeTaxBenefitRelatedToDissolutionOfSubsidiary`	-	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-2.64M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.58M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$156.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$112.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-194.00K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidExpense`	$-80.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-173.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-235.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-455.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-67.00K	USD	1 Quarter
Customer deposits and deferred revenue	`IncreaseDecreaseInCustomerDepositsAndDeferredRevenue`	$-1.01M	USD	1 Quarter
Customer deposits and deferred revenue	`IncreaseDecreaseInCustomerDepositsAndDeferredRevenue`	$214.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$643.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-190.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$50.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-50.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.00K	USD	1 Quarter
Proceeds from issuance of common stock under employee plans, net of taxes paid related to share settlement of equity awards	`ProceedsFromIssuanceOfCommonStock`	$62.00K	USD	1 Quarter
Proceeds from issuance of common stock under employee plans, net of taxes paid related to share settlement of equity awards	`ProceedsFromIssuanceOfCommonStock`	$190.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$62.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$190.00K	USD	1 Quarter
Effect of exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$16.00K	USD	1 Quarter
Effect of exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$94.00K	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$880.00K	USD	1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-162.00K	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.51M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.35M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.39M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.51M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.51M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.35M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.39M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$5.51M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$12.32M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.06M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.45M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.29M	USD	Point-in-time
Issuance of common stock under employee plans, amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$190.00K	USD	1 Quarter
Issuance of common stock under employee plans, amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$62.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$199.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$270.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-413.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$107.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-15.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$99.00K	USD	1 Quarter
Reclassification of cumulative translation adjustment as a result of dissolution of Aehr Test Systems Japan	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax`	-	USD	1 Quarter
Reclassification of cumulative translation adjustment as a result of dissolution of Aehr Test Systems Japan	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax`	$2.40M	USD	1 Quarter
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$12.32M	USD	Point-in-time
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$14.06M	USD	Point-in-time
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.45M	USD	Point-in-time
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$15.29M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$107.00K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-413.00K	USD	1 Quarter
Net change in cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-15.00K	USD	1 Quarter
Net change in cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$99.00K	USD	1 Quarter
Reclassification of cumulative translation adjustment as a result of dissolution of Aehr Test Systems Japan	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax`	-	USD	1 Quarter
Reclassification of cumulative translation adjustment as a result of dissolution of Aehr Test Systems Japan	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax`	$2.40M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-2.19M	USD	1 Quarter
Total comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-428.00K	USD	1 Quarter
Less: Comprehensive income (loss) attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$21.00K	USD	1 Quarter
Less: Comprehensive income (loss) attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-1.00K	USD	1 Quarter
Comprehensive loss, attributable to Aehr Test Systems common shareholders	`ComprehensiveIncomeNetOfTax`	$-2.22M	USD	1 Quarter
Comprehensive loss, attributable to Aehr Test Systems common shareholders	`ComprehensiveIncomeNetOfTax`	$-427.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.