Edwyn
Over the past five years, AEHR TEST SYSTEMS has experienced notable fluctuations in its financial performance. In 2021, the company reported modest revenue of $9.611 million with a gross profit of $4.519 million and an operating loss of $4.182 million, though it still recorded a small net income of $0.717 million. In 2022, there was a striking turnaround as revenue surged by over 400% to $50.829 million, while gross profit increased to $23.665 million. Operating income turned positive at $7.8 million, and net income improved to $9.45 million, indicating a significant operational improvement. This robust recovery continued into 2023 with revenue reaching $64.961 million and gross profit advancing to $32.746 million. Operating income grew to $13.375 million, and net income climbed to $14.557 million, suggesting that the company was quickly scaling its operations and enhancing profit margins. However, the period also witnessed significant volatility in later years. In 2024, revenue remained relatively stable at $66.218 million, and gross profit was similar to the previous year at $32.543 million. Notably, net income experienced an exceptional spike to $33.156 million—more than double the prior year’s level—even though operating income fell to $10.078 million, implying potential one-time gains or improvements in non-operating income items. By 2025, both revenue and gross profit contracted—revenue declined to $58.968 million and gross profit to $23.933 million—and the company recorded an operating loss of $5.677 million with a negative net income of $3.91 million, marking a substantial (>20%) year-over-year reversal in profitability. Overall, while AEHR TEST SYSTEMS demonstrated an impressive recovery and scaling up through 2022-2023, the significant drop in 2025 raises concerns regarding operational consistency and sustainability. Investors should monitor these swings closely to better understand whether the recent downturn is a temporary setback or indicative of underlying challenges in the operating environment.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.