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Aehr Test Systems (AEHR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Aehr Test Systems (AEHR) Q3 2026 earnings results →
Q3 2026 22¢ of every $1 of revenue kept as net profit · operating margin 18.3%
Aehr Test Systems made $33.0M in Q3 2026: Systems $17.3M, Contactors $13.5M, Services $2.2M. Operating margin 18.3%, net earnings $7.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $33.0M in Q3 2026. Systems was the largest line at 52% of revenue.
Gross margin was 47.5%. Operating profit was $6.0M, a 18.3% margin. Net earnings were $7.2M. The effective tax rate was -3.7%.
Operating cash flow was −$3.1M. Non-cash charges added back $707K of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $12.8M. Capital expenditures of $49K exceeded it, leaving free cash flow of −$3.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $33.0M | — | 18.3% | $7.2M | −$3.1M |
| Q2 2026 | 10-K | Jul 27, 2026 | $18.8M | +34% | -6.4% | $1.4M | $1.8M |
| Q1 2026 | 10-Q | Apr 8, 2026 | $10.3M | -44% | -41.0% | −$3.2M | −$3.7M |
| Q4 2025 | 10-Q | Jan 12, 2026 | $9.9M | -26% | -47.0% | −$3.2M | −$1.2M |
| Q3 2025 | 10-Q | Oct 8, 2025 | $11.0M | -16% | -37.1% | −$2.1M | −$282K |
| Q2 2025 | 10-K | Jul 28, 2025 | $14.1M | -15% | -22.7% | −$2.9M | −$2.3M |
| Q1 2025 | 10-Q | Apr 10, 2025 | $18.3M | +142% | -6.1% | −$643K | −$1.6M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Aehr Test Systems
Aehr Test Systems, Inc. (“Aehr Test,” “Aehr,” or “we”) was incorporated in the state of California on May 25, 1977 and is headquartered in Fremont, California. We are a leading provider of test solutions for testing, burning-in, and stabilizing semiconductor devices in wafer level, singulated die, and package level, and have installed thousands of systems worldwide. Mission critical applications are driving increased quality, reliability, safety, and security needs of semiconductors. The applications include artificial intelligence (“AI”), High Performance Compute (“HPC”) data centers, E-mobility (electric vehicles), electric vehicle charging infrastructure, solar and wind power, data and telecommunications infrastructure, and solid-state memory storage.
In its own words, from its 10-K, filed Jul 27, 2026.
Aehr Test Systems against its Instruments For Meas & Testing of Electricity & Elec Signals peers
The largest companies of the same SEC industry, each at its latest quarter. Operating margin: 18.3% against the peers' median 15.9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AEHR Aehr Test Systems | Q3 2026 | $33.0M | — | 18.3% |
| VLTO Veralto | Q3 2026 | $1.5B | +8% | 19.7% |
| TER Teradyne | Q3 2026 | $1.3B | +70% | 30.8% |
| ITRI Itron | Q3 2026 | $599M | +3% | 15.9% |
| COHU Cohu | Q3 2026 | $173M | +37% | 7.4% |
| ALNT Allient | Q3 2026 | $164M | +18% | 13.6% |
| TRNS Transcat | Q2 FY27 | $97.1M | +18% | 5.2% |
| INTT Intest | Q3 2026 | $35.1M | +34% | 7.8% |
| FEIM Frequency Electronics | Q1 FY27 | $23.5M | +70% | 22.2% |
Source: Aehr Test Systems 10-Q on SEC EDGAR · CIK 1040470 · Instruments For Meas & Testing of Electricity & Elec Signals
Guidance and outlook
13F: who owns AEHR and who is buying
More on AEHR
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results