Company: AEHR
Filing Date: 2025-10-08
Form Type: 10-Q
Source: 0001654954-25-011582
Chunk: 36

Company: AEHR TEST SYSTEMS
Filing Date: 2025-10-08
Form: 10-Q
Item: Part I, Item 2
Chunk 36
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29, 2025, the Company recognized $0.8 million income tax benefit, primarily driven by year-to-date losses in the United States. For the three months ended August 30, 2024, income tax expense was primarily due to taxable income in the United States and in profitable foreign subsidiaries.

Liquidity and Capital Resources

Cash, cash equivalents, and restricted cash were $24.7 million as of August 29, 2025, compared to $40.8 million as of August 30, 2024. We believe that our existing cash resources and anticipated funds from operations will satisfy our cash requirements to fund our operating activities, capital expenditures and other obligations for the next twelve months.

  Three Months Ended       August 29,   August 30,     (In thousands) 2025  2024  Change Operating activities $(282) $2,380  $(2,662)Investing activities  (1,391)  (10,812)  9,421 Financing activities  (158)  (106)  (52)Effect of exchange rate changes on cash, cash equivalents and restricted cash  9   9   - Net increase (decrease) in cash, cash equivalents and restricted cash $(1,822) $(8,529) $6,707 

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Net Cash Flows Provided by (Used in) Operating Activities

The $2.7 million decrease in cash flows from operating activities for the three months ended August 29, 2025, compared to the same period in the prior year, was driven primarily by a lower income (loss) before income tax (benefit), a decrease in cash provided by deferred revenue due to timing of customer deposits and revenue recognition, an increase in cash used to pay down accounts payable, and a decrease in cash provided by collection of accounts receivable due to the lower revenue, partially offset by a decrease in cash used in inventory purchase due to anticipated lower customer demand, a decrease in cash used in prepaid expenses and higher non-cash charges including stock-based compensation expense and depreciation and amortization. 

Net Cash Flows Used in Investing Activities

Net cash used in investing activities decreased by $9.4 million for the three months ended August 29, 2025 compared to the same period in the prior year. The decrease was primarily due to the $10.6