Company: AEHR
Filing Date: 2025-07-28
Form Type: 10-K
Source: 0001654954-25-008553
Chunk: 533

Company: AEHR TEST SYSTEMS
Filing Date: 2025-07-28
Form: 10-K
Item: Item 5
Chunk 533
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- or 53-week period ending on the Friday nearest May 31. Our fiscal year 2025 ended on May 30, 2025. Each of our fiscal years in 2024 and 2023 ended on May 31.

Discussion of Results of Operations

Revenues

  Year Ended             May 30,  May 31,  May 31,           (Dollars in thousands) 2025  2024  2023  FY 2025 vs FY 2024  FY 2024 vs FY 2023  Revenue $58,968  $66,218  $64,961  $(7,250) (10.9%)  $ 1,257   1.9% 

Revenue decreased by $7.3 million in fiscal year 2025 over fiscal year 2024 driven by a decrease in shipments of our systems and contactors primarily due to the continued softness in the power semiconductor demand for electric vehicles. Our product revenue decreased by $8.9 million due to the decrease in our contactors revenue and FOX-P systems revenue, which was partially offset by the increase in package parts burn-in product revenue in connection with the Incal acquisition. The decline in product revenue was partially offset by an increase in services revenue of $1.7 million.

Revenue increased by $1.3 million in fiscal year 2024 over fiscal year 2023, primarily driven by higher sales in our contactors. Our contactors revenue increased by $15.7 million, and our services revenue increased by $0.3 million. The increase was partially offset by a decrease in systems revenue of $14.7 million. 

Revenue by Geography Year Ended        May 30,  May 31,  May 31,           (Dollars in thousands) 2025  2024  2023  FY 2025 vs FY 2024 FY 2024 vs FY 2023 Asia $37,095  $58,076  $55,609  $(20,981) (36.1%)   2,467   4.4%United States  17,673   3,532   9,289   14,141   400.4%  (5,757) (