"We believe that between wafer level and package part, the reliability test and burn-in market for AI processors exceeds $100 million annually." - Gayn Erickson, CEO
— Gayn Erickson
03Detailed Report
AEHR
Aehr Test Systems
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 24, 2026
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Executive Summary
Aehr Test Systems (NASDAQ: AEHR) reported a solid performance in Q4 2024, with revenues reaching $16.6 million, a decline from the $22.3 million achieved in Q4 the previous year, largely due to customer delays in orders for silicon carbide devices, which are influenced by slowing demand in the electric vehicle market. Despite this decrease in quarterly revenue, the overall full-year results were encouraging with total revenue of $66.2 million, surpassing management's expectations and indicating resilience in the silicon carbide segment and emerging opportunities in both the AI semiconductor and NAND flash markets. Management articulated optimism with the recently announced acquisition of Incal Technology, enhancing AEHR's capacity to serve the high-powered AI semiconductor market, an area anticipated to see significant growth moving forward.
Key Performance Indicators
Revenue
Decreasing
16.60M
QoQ: 119.49% | YoY: -25.46%
Gross Profit
Decreasing
8.45M
50.89% margin
QoQ: 167.68% | YoY: -26.40%
Operating Income
Decreasing
2.54M
QoQ: 224.19% | YoY: -54.94%
Net Income
Increasing
23.86M
QoQ: 1 722.30% | YoY: 290.51%
EPS
Increasing
0.82
QoQ: 1 707.84% | YoY: 272.73%
Revenue Trend
Margin Analysis
Financial Highlights
Financial Metrics Overview:
- Revenue (Q4 2024): $16.6 million, down 25% YoY but up 119.49% QoQ.
- Full Year Revenue: $66.2 million, up 2% YoY.
- Net Income (Q4 2024): $23.9 million, reflecting a 290.51% increase YoY due to a deferred tax benefit of $20.8 million.
- Gross Profit Margin (Q4 2024): 50.9%, slightly down from 51.5% YoY.
- Operating Income: $2.54 million with an operating margin of 15.3%.
- Cash Position: $49.2 million at year-end, showing a healthy liquidity ratio.
- Debt: Zero debt on the balance sheet, reflecting solid financial health.
Management Commentary:
"Our full year revenue and net income results exceeded our previously provided guidance and surpassed analyst consensus... we achieved another record for annual revenue for Aehr of $66.2 million," stated Gayn Erickson, CEO, showcasing confidence in continued growth despite current market fluctuations.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
16.60M
-25.46%
119.49%
Gross Profit
8.45M
-26.40%
167.68%
Operating Income
2.54M
-54.94%
224.19%
Net Income
23.86M
290.51%
1 722.30%
EPS
0.82
272.73%
1 707.84%
Key Financial Ratios
Gross Profit Margin
Good
50.90%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Good
15.30%
Operating margin is healthy and competitive within industry standards
Net Profit Margin
Weak
1.44%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Strong
18.70%
Return on assets demonstrates excellent capital efficiency and value creation
Return on Equity
Strong
21.40%
Return on equity demonstrates excellent capital efficiency and value creation
Current Ratio
Strong
9.31
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.06
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Value
3.49x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Fair Value
2.99x
Price-to-book ratio reasonable for profitable companies
Management Insights Available for Members
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