Filing Flows › Aehr Test Systems (AEHR) › Q1 2026
Aehr Test Systems (AEHR) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 8, 2026
Aehr Test Systems (AEHR) reported revenue of $10.3M for the first quarter 2026 (Q1 2026), -44% from a year earlier and +4% from the quarter before. Operating margin was -41.0%, net loss $3.2M (31.1% of revenue).
Aehr Test Systems, Q1 2026: revenue $10.3M (-44% year over year), operating margin -41.0%, net loss $3.2M, operating cash flow −$3.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.3M | +4% | -44% |
| Operating profit | −$4.2M | — | — |
| Net earnings | −$3.2M | — | — |
| Operating cash flow | −$3.7M | — | — |
What changed
Revenue was $10.3M in Q1 2026, down 44% year over year and up 4% from the previous quarter. Systems was the largest line at 56% of revenue. Systems lost $5.0M year over year (down 46%), 62% of the total change.
Gross margin was 32.7%, down 6.6 points from Q1 2025. Operating costs exceeded revenue by $4.2M, an operating margin of -41.0%. Operating expenses fell 8% while revenue fell 44%. The quarter ended with a net loss of $3.2M, narrower than the previous quarter's $3.2M loss.
Operating cash flow was −$3.7M. Non-cash charges added back $677K of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $2.5M. Capital expenditures of $74K exceeded it, leaving free cash flow of −$3.8M.
Questions
What was Aehr Test Systems' revenue in the first quarter 2026?
Aehr Test Systems (AEHR) reported revenue of $10.3M for the first quarter 2026 (Q1 2026), -44% from a year earlier and +4% from the quarter before.
Was Aehr Test Systems profitable in the first quarter 2026?
Operating loss was $4.2M (-41.0% of revenue) and net loss $3.2M.
Source: Aehr Test Systems 10-Q on SEC EDGAR.