Filing Flows › Aehr Test Systems (AEHR) › Q4 2025
Aehr Test Systems (AEHR) Q4 2025 earnings results (fourth quarter 2025)
10-Q filed Jan 12, 2026
Aehr Test Systems (AEHR) reported revenue of $9.9M for the fourth quarter 2025 (Q4 2025), -27% from a year earlier and -10% from the quarter before. Operating margin was -47.0%, net loss $3.2M (32.7% of revenue).
Aehr Test Systems, Q4 2025: revenue $9.9M (-26% year over year), operating margin -47.0%, net loss $3.2M, operating cash flow −$1.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.9M | -10% | -27% |
| Operating profit | −$4.6M | — | — |
| Net earnings | −$3.2M | — | — |
| Operating cash flow | −$1.2M | — | — |
What changed
Revenue was $9.9M in Q4 2025, down 27% year over year and down 10% from the previous quarter. Systems was the largest line at 50% of revenue. Contactors lost $5.1M year over year (down 60%), 144% of the total change.
Gross margin was 25.7%, down 14.4 points from a year earlier. Operating costs exceeded revenue by $4.6M, an operating margin of -47.0%. Operating expenses grew 4% against a revenue fall of 27%. The quarter ended with a net loss of $3.2M, wider than the previous quarter's $2.1M loss.
Operating cash flow was −$1.2M. Non-cash charges added back $690K of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items used $472K. Capital expenditures of $467K exceeded it, leaving free cash flow of −$1.6M.
Questions
What was Aehr Test Systems' revenue in the fourth quarter 2025?
Aehr Test Systems (AEHR) reported revenue of $9.9M for the fourth quarter 2025 (Q4 2025), -27% from a year earlier and -10% from the quarter before.
Was Aehr Test Systems profitable in the fourth quarter 2025?
Operating loss was $4.6M (-47.0% of revenue) and net loss $3.2M.
Source: Aehr Test Systems 10-Q on SEC EDGAR.