Company: AEHR
Filing Date: 2025-07-28
Form Type: 10-K
Source: 0001654954-25-008553
Chunk: 288

Company: AEHR TEST SYSTEMS
Filing Date: 2025-07-28
Form: 10-K
Item: Item 1C
Chunk 288
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 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) (62.0%)  Europe  4,200   4,610   63   (410) (8.9%)  4,547  N.M.   Total revenues $58,968  $66,218  $64,961  $(7,250) (10.9%) $1,257   1.9% Asia as a percentage of total revenues  62.9%  87.7%  85.6%                 United States as a percentage of total revenues