10-Q Filing

AEHR TEST SYSTEMS CIK: 1040470 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0001654954-23-012844`
Period End Date	20230831
Filing Date	20231012
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	aehr_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 52 Stockholders Equity 19 Comprehensive Income 8

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockNoParValue`	$0.01	USD	Point-in-time
Preferred stock, par value	`PreferredStockNoParValue`	$0.01	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.05M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	-	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$17.85M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$13.16M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNet`	$16.59M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Inventories	`InventoryNet`	$31.56M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Inventories	`InventoryNet`	$23.91M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.54M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$540.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	28.76M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$621.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$89.03M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.54M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$96.21M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	28.76M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$2.76M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$3.08M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$5.95M	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$6.12M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$222.00K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$231.00K	USD	Point-in-time
Total assets	`Assets`	$105.47M	USD	Point-in-time
Total assets	`Assets`	$98.14M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$9.21M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.33M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.14M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.54M	USD	Point-in-time
Operating lease liabilities, short-term	`OperatingLeaseLiabilityCurrent`	$137.00K	USD	Point-in-time
Operating lease liabilities, short-term	`OperatingLeaseLiabilityCurrent`	$275.00K	USD	Point-in-time
Deferred revenue, short-term	`DeferredRevenueCurrent`	$6.11M	USD	Point-in-time
Deferred revenue, short-term	`DeferredRevenueCurrent`	$2.82M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$16.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$19.25M	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$6.00M	USD	Point-in-time
Operating lease liabilities, long-term	`OperatingLeaseLiabilityNoncurrent`	$6.16M	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$33.00K	USD	Point-in-time
Deferred revenue, long-term	`DeferredRevenueNoncurrent`	$31.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilities`	$41.00K	USD	Point-in-time
Other long-term liabilities	`OtherLiabilities`	$41.00K	USD	Point-in-time
Total liabilities	`Liabilities`	$22.54M	USD	Point-in-time
Total liabilities	`Liabilities`	$25.32M	USD	Point-in-time
Preferred stock, $0.01 par value: Authorized: 10,000 shares; Issued and outstanding: none	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value: Authorized: 10,000 shares; Issued and outstanding: none	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 28,763 shares and 28,539 shares at August 31, 2023 and May 31, 2023, respectively	`CommonStockValue`	$288.00K	USD	Point-in-time
Common stock, $0.01 par value: Authorized: 75,000 shares; Issued and outstanding: 28,763 shares and 28,539 shares at August 31, 2023 and May 31, 2023, respectively	`CommonStockValue`	$285.00K	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.63M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$127.78M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-141.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-155.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-52.31M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$51.52M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$80.14M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$50.99M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$75.60M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$105.47M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$98.14M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$20.62M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$10.67M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$10.64M	USD	1 Quarter
Total cost of revenue	`CostOfRevenue`	$6.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$9.98M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.46M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.50M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.52M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.41M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$4.02M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.87M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$4.12M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$458.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$121.00K	USD	1 Quarter
Interest income, net	`InterestIncomeExpenseNet`	$581.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$-6.00K	USD	1 Quarter
Other income (expense), net	`OtherNonoperatingIncomeExpense`	$24.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$4.69M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$603.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$14.00K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$16.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$589.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.67M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.02	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.16	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.02	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.16	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	27.24M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesIssuedBasic`	28.65M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.63M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	28.79M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$589.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.67M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$522.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$710.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$104.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$138.00K	USD	1 Quarter
Accretion of investment discount	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	-	USD	1 Quarter
Accretion of investment discount	`AccretionAmortizationOfDiscountsAndPremiumsInvestments`	$-130.00K	USD	1 Quarter
Non-cash lease expenses	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$172.00K	USD	1 Quarter
Non-cash lease expenses	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$177.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-7.65M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-3.44M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$7.70M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$2.32M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-90.00K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$210.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-939.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-769.00K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-1.13M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$355.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$855.00K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$3.29M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-192.00K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-28.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$2.00K	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$20.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$5.46M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$3.90M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$284.00K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$84.00K	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	-	USD	1 Quarter
Proceeds from maturities of investments	`ProceedsFromSaleAndMaturityOfOtherInvestments`	$18.00M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-84.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$17.72M	USD	1 Quarter
Proceeds from issuance of common stock under employee plans	`ProceedsFromIssuanceOfCommonStock`	$455.00K	USD	1 Quarter
Proceeds from issuance of common stock under employee plans	`ProceedsFromIssuanceOfCommonStock`	$318.00K	USD	1 Quarter
Shares repurchased for tax withholdings on vesting of restricted stock units, amount	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.01M	USD	1 Quarter
Shares repurchased for tax withholdings on vesting of restricted stock units, amount	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.18M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-724.00K	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-694.00K	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.00K	USD	1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-22.00K	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$4.66M	USD	1 Quarter
Net increase in cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$20.90M	USD	1 Quarter
Cash, cash equivalents and restricted cash, beginning of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.56M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.23M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, beginning of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.10M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.56M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$36.23M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$30.20M	USD	Point-in-time
Cash, cash equivalents and restricted cash, end of period (1)	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$51.10M	USD	Point-in-time

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$51.52M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$80.14M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$50.99M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$75.60M	USD	Point-in-time
Issuance of common stock under employee plans, amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$318.00K	USD	1 Quarter
Issuance of common stock under employee plans, amount	`StockIssuedDuringPeriodValueShareBasedCompensation`	$455.00K	USD	1 Quarter
Shares repurchased for tax withholdings on vesting of restricted stock units, amount	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.01M	USD	1 Quarter
Shares repurchased for tax withholdings on vesting of restricted stock units, amount	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$1.18M	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$709.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$551.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$589.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.67M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-45.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-3.00K	USD	1 Quarter
Net unrealized gains on investments	`UnrealizedGainLossOnInvestments`	$17.00K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$51.52M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$80.14M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$50.99M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$75.60M	USD	Point-in-time

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$589.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$4.67M	USD	1 Quarter
Net change in cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$45.00K	USD	1 Quarter
Net change in cumulative translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax`	$3.00K	USD	1 Quarter
Net change in unrealized loss on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-17.00K	USD	1 Quarter
Net change in unrealized loss on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	-	USD	1 Quarter
Comprehensive income	`OtherComprehensiveIncomeLossTax`	$544.00K	USD	1 Quarter
Comprehensive income	`OtherComprehensiveIncomeLossTax`	$4.69M	USD	1 Quarter

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