Aehr Test Systems, a global supplier of semiconductor test and burn-in equipment, has reported its financial results for the fiscal 2025 fourth quarter and full year ended May 30, 2025.
In the fourth quarter of fiscal 2025, the company's net revenue was $14.1 million, a decrease from $16.6 million in the same period of fiscal 2024. GAAP net loss for the quarter was $(2.9) million, or $(0.10) per diluted share, compared to GAAP net income of $23.9 million, or $0.81 per diluted share, in the fourth quarter of fiscal 2024. Non-GAAP net loss for the quarter was $(0.2) million, or $(0.01) per diluted share, compared to non-GAAP net income of $24.7 million, or $0.84 per diluted share, in the fourth quarter of fiscal 2024.
Bookings for the quarter were $11.1 million, and the backlog as of May 30, 2025, was $15.2 million. The total cash, cash equivalents, and restricted cash as of May 30, 2025, stood at $26.5 million, down from $31.4 million at February 28, 2025.
For the full fiscal year 2025, the company reported net revenue of $59.0 million, a decrease from $66.2 million in fiscal 2024. GAAP net loss for the year was $(3.9) million, or $(0.13) per diluted share, compared to GAAP net income of $33.2 million, or $1.12 per diluted share, in fiscal 2024. Non-GAAP net income for the year was $4.6 million, or $0.15 per diluted share, compared to non-GAAP net income of $35.8 million, or $1.21 per diluted share, in fiscal 2024.
The company reported cash used in operating activities of $7.4 million for fiscal 2025.
Gayn Erickson, President and CEO of Aehr Test Systems, highlighted the company's strategic initiatives to expand into new markets for test and burn-in, including artificial intelligence processors, gallium nitride power semiconductors, data storage devices, and silicon photonics integrated circuits.
He noted that the company successfully launched and adopted its first production wafer level burn-in (WLBI) system specifically for artificial intelligence (AI) processors, which attracted strong interest from leading processor companies. Additionally, the acquisition of Incal Technology enabled the company to expand into packaged part qualification and production burn-in for AI processors.
Erickson also mentioned the company's progress in the gallium nitride (GaN) power semiconductors market, as well as its achievements in the hard disk drive and silicon photonics markets.
Looking ahead, while the company remains cautious due to timing-related delays in order placements, it anticipates order growth across all its segments in fiscal 2026, except possibly in the silicon carbide market.
Aehr Test Systems is optimistic about its growth opportunities in the diverse markets it serves and its ability to meet increasing demand.
The full financial results and management's comments were made available in a press release and will be discussed in a conference call and webcast. Following these announcements, the company's shares moved 2.36%, and are now trading at a price of $15.17. Check out the company's full 8-K submission here.
