10-Q Filing

AEHR TEST SYSTEMS CIK: 1040470 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001654954-21-011091`
Period End Date	20210831
Filing Date	20211014
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	aehr_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 34 Cash Flow Statement 50 Stockholders Equity 18 Comprehensive Income 12

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares authorized (in thousands)	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares issued (in thousands)	`CommonStockSharesIssued`	24.48M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$4.58M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.53M	USD	Point-in-time
Common stock, shares issued (in thousands)	`CommonStockSharesIssued`	24.48M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$5.20M	USD	Point-in-time
Common stock, shares outstanding (in thousands)	`CommonStockSharesOutstanding`	23.73M	shares	Point-in-time
Common stock, shares outstanding (in thousands)	`CommonStockSharesOutstanding`	23.73M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.26M	USD	Point-in-time
Inventories	`InventoryNet`	$8.85M	USD	Point-in-time
Inventories	`InventoryNet`	$10.15M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$551.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$759.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$21.70M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$19.18M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$677.00K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$676.00K	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.44M	USD	Point-in-time
Operating lease right-of-use assets	`OperatingLeaseRightOfUseAsset`	$1.61M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$198.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$189.00K	USD	Point-in-time
Total assets	`Assets`	$21.66M	USD	Point-in-time
Total assets	`Assets`	$24.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.89M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.75M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$2.16M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$1.98M	USD	Point-in-time
Operating lease liabilities, short-term	`OperatingLeaseLiabilityCurrent`	$737.00K	USD	Point-in-time
Operating lease liabilities, short-term	`OperatingLeaseLiabilityCurrent`	$750.00K	USD	Point-in-time
Customer deposits and deferred revenue, short-term	`CustomerDepositsAndDeferredRevenueShortTerm`	$189.00K	USD	Point-in-time
Customer deposits and deferred revenue, short-term	`CustomerDepositsAndDeferredRevenueShortTerm`	$3.28M	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	-	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$1.40M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.76M	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$813.00K	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$1.01M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$150.00K	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$99.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$46.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$49.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$9.77M	USD	Point-in-time
Total liabilities	`Liabilities`	$10.22M	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000; Issued and outstanding: 24,483 shares and 23,725 shares at August 31, 2021 and May 31, 2021, respectively	`CommonStockValue`	$245.00K	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000; Issued and outstanding: 24,483 shares and 23,725 shares at August 31, 2021 and May 31, 2021, respectively	`CommonStockValue`	$237.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$87.55M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$89.67M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-28.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-64.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-75.62M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-76.31M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$12.32M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$14.23M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$11.45M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$14.06M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$21.66M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$24.00M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$5.65M	USD	1 Quarter
Net sales	`Revenues`	$2.01M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$1.78M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$3.37M	USD	1 Quarter
Gross profit	`GrossProfit`	$227.00K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.28M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.95M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.51M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$900.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.32M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$3.27M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-2.19M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-993.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$13.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$9.00K	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	$2.19M	USD	1 Quarter
Gain from forgiveness of PPP loan	`GainFromForgivenessOfPppLoan`	-	USD	1 Quarter
Gain from forgiveness of PPP loan	`GainFromForgivenessOfPppLoan`	$1.70M	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$23.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-94.00K	USD	1 Quarter
Income (loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$719.00K	USD	1 Quarter
Income (loss) before income tax (expense) benefit	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-108.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$-23.00K	USD	1 Quarter
Income tax (expense) benefit	`IncomeTaxExpenseBenefit`	$215.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$696.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$107.00K	USD	1 Quarter
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	$0.03	USD	1 Quarter
Basic and Diluted	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23,248.00	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	23,999.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	23,455.00	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	25,356.00	shares	1 Quarter

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$696.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$107.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$270.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$588.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$82.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$73.00K	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Net gain from dissolution of Aehr Test Systems Japan	`GainLossOnSaleOfBusiness`	$2.19M	USD	1 Quarter
Income tax benefit related to dissolution of Aehr Test Systems Japan	`IncomeTaxBenefitRelatedToDissolutionOfSubsidiary`	-	USD	1 Quarter
Income tax benefit related to dissolution of Aehr Test Systems Japan	`IncomeTaxBenefitRelatedToDissolutionOfSubsidiary`	$-215.00K	USD	1 Quarter
Gain from forgiveness of PPP loan	`GainFromForgivenessOfPppLoan`	-	USD	1 Quarter
Gain from forgiveness of PPP loan	`GainFromForgivenessOfPppLoan`	$1.70M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.64M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$895.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.32M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-112.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$80.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-201.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-173.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-130.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-169.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-67.00K	USD	1 Quarter
Customer deposits and deferred revenue	`IncreaseDecreaseInCustomerDepositsAndDeferredRevenue`	$3.14M	USD	1 Quarter
Customer deposits and deferred revenue	`IncreaseDecreaseInCustomerDepositsAndDeferredRevenue`	$214.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$3.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$1.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.87M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$643.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$59.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$47.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-59.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-47.00K	USD	1 Quarter
Line of credit repayments, net	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Line of credit repayments, net	`RepaymentsOfLinesOfCredit`	$1.40M	USD	1 Quarter
Proceeds from issuance of common stock under employee plans, net of taxes paid related to share settlement of equity awards	`ProceedsFromIssuanceOrSaleOfEquity`	$1.53M	USD	1 Quarter
Proceeds from issuance of common stock under employee plans, net of taxes paid related to share settlement of equity awards	`ProceedsFromIssuanceOrSaleOfEquity`	$190.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$190.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$135.00K	USD	1 Quarter
Effect of exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-2.00K	USD	1 Quarter
Effect of exchange rates on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$94.00K	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$880.00K	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.95M	USD	1 Quarter
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`	$4.66M	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, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.61M	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`	$4.66M	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`	$6.61M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$12.32M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$14.23M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$11.45M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$14.06M	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`	$1.53M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$588.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$270.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$696.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$107.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-36.00K	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`	$2.40M	USD	1 Quarter
Reclassification of cumulative translation adjustment as a result of dissolution of Aehr Test Systems Japan	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax`	-	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$12.32M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$14.23M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$11.45M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$14.06M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$696.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$107.00K	USD	1 Quarter
Net change in cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$-36.00K	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`	$2.40M	USD	1 Quarter
Reclassification of cumulative translation adjustment as a result of dissolution of Aehr Test Systems Japan	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationReclassificationAdjustmentFromAOCIRealizedUponSaleOrLiquidationBeforeTax`	-	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$660.00K	USD	1 Quarter
Total comprehensive income (loss)	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-2.19M	USD	1 Quarter
Less: Comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$21.00K	USD	1 Quarter
Less: Comprehensive income attributable to the noncontrolling interest	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Comprehensive income (loss), attributable to Aehr Test Systems common shareholders	`ComprehensiveIncomeNetOfTax`	$660.00K	USD	1 Quarter
Comprehensive income (loss), attributable to Aehr Test Systems common shareholders	`ComprehensiveIncomeNetOfTax`	$-2.22M	USD	1 Quarter

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