Aehr Test Systems announced its fiscal fourth quarter 2025 financial results for the period ending May 30, 2025. The company reported Q4 revenue of $14.09 million, which missed analyst estimates of $14.82 million. For the full fiscal year 2025, total revenue decreased to $58.97 million from $66.22 million in fiscal 2024.
Gross profit for fiscal 2025 decreased to $23.93 million, resulting in a 40.6% margin, down from 49.1% in fiscal 2024. The company reported a net loss of $3.91 million for fiscal 2025, a significant shift from a profit of $33.16 million in fiscal 2024. Cash, cash equivalents, and restricted cash stood at $26.5 million as of May 30, 2025, down from $49.3 million a year prior.
Despite the financial downturn, the company highlighted its successful diversification into AI. AI processor burn-in surged to over 35% of Aehr's total revenue in fiscal 2025, up from effectively zero in the prior year. Silicon carbide (SiC) wafer-level burn-in (WLBI) revenue tracked to less than 40% in fiscal 2025, a notable decrease from 90% in fiscal 2024.
Aehr secured a major hyperscaler as its first production AI customer in the packaged part burn-in (PPBI) market. However, CEO Gayn Erickson adopted a cautious approach to fiscal 2026 financial guidance, temporarily withdrawing it. This decision was explicitly linked to U.S. administration's tariff announcements and their potential secondary impacts on customer order timing, shipments, or supply chain deliveries.
The withdrawal of guidance introduces near-term uncertainty for investors. This reflects a tactical response to unpredictable external factors rather than a fundamental shift in market confidence. The company's strong balance sheet with no debt provides some cushion against ongoing volatility.
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