Filing Flows › Aehr Test Systems (AEHR) › Q3 2025
Aehr Test Systems (AEHR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 8, 2025
Aehr Test Systems (AEHR) reported revenue of $11.0M for the third quarter 2025 (Q3 2025), -16% from a year earlier and -22% from the quarter before. Operating margin was -37.1%, net loss $2.1M (19.0% of revenue).
Aehr Test Systems, Q3 2025: revenue $11.0M (-16% year over year), operating margin -37.1%, net loss $2.1M, operating cash flow −$282K. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $11.0M | -22% | -16% |
| Operating profit | −$4.1M | — | — |
| Net earnings | −$2.1M | — | — |
| Operating cash flow | −$282K | — | — |
What changed
Revenue was $11.0M in Q3 2025, down 16% year over year and down 22% from the previous quarter. Systems was the largest line at 62% of revenue. Contactors lost $9.5M year over year (down 78%), 441% of the total change.
Gross margin was 33.9%, down 20.0 points from a year earlier. Operating costs exceeded revenue by $4.1M, an operating margin of -37.1%. Operating expenses grew 13% against a revenue fall of 16%. The fastest-growing cost line was Research & development (+21%). The quarter ended with a net loss of $2.1M, narrower than the previous quarter's $2.9M loss. Non-operating items added $1.2M, -43% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$282K. Non-cash charges added back $743K of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items used $612K. Capital expenditures of $1.4M exceeded it, leaving free cash flow of −$1.7M.
Questions
What was Aehr Test Systems' revenue in the third quarter 2025?
Aehr Test Systems (AEHR) reported revenue of $11.0M for the third quarter 2025 (Q3 2025), -16% from a year earlier and -22% from the quarter before.
Was Aehr Test Systems profitable in the third quarter 2025?
Operating loss was $4.1M (-37.1% of revenue) and net loss $2.1M.
Source: Aehr Test Systems 10-Q on SEC EDGAR.