AEHR TEST SYSTEMS
For the period ended May 30, 2025. Filed Jul 28, 2025.
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FY2025 · Filed Jul 28, 2025
AEHR$59.57-0.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended | |||||
|---|---|---|---|---|---|
| May 30, · May 31, · May 31, | |||||
| (In thousands) · 2025 · 2024 · 2023 | |||||
| Cash flows from operating activities: | |||||
| Net income (loss) | $(3,910) | $33,156 | $14,557 | ||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||
| Stock-based compensation expense | 5,162 | 2,518 | 2,748 | ||
| Depreciation and amortization | 2,312 | 657 | 450 | ||
| Deferred income taxes | (421) | (20,773) | - | ||
| Amortization of operating lease right-of-use assets | 1,076 | 706 | 649 | ||
| Impairment of assets | 584 | - | - | ||
| Accretion of investment discount | - | (130) | (576) | ||
| Provision for credit losses | - | - | 24 | ||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable | (3,037) | 6,790 | (3,788) | ||
| Inventories | (2,441) | (13,732) | (9,469) | ||
| Prepaid expenses and other current assets | (5,012) | (875) | 28 | ||
| Accounts payable | (714) | (3,891) | 5,044 | ||
| Accrued expenses | (378) | (792) | 528 | ||
| Deferred revenue | 143 | (1,469) | 369 | ||
| Operating lease liabilities | (699) | (423) | (561) | ||
| Income taxes payable | (65) | 14 | 8 | ||
| Net cash provided by (used in) operating activities | (7,400) | 1,756 | 10,011 | ||
| Cash flows from investing activities: | |||||
| Payments for business acquisition, net of cash and cash equivalent acquired | (11,075) | - | - | ||
| Purchases of property and equipment | (4,992) | (749) | (1,362) | ||
| Proceeds from maturities of investments | - | 18,000 | 16,000 | ||
| Purchases of investments | - | - | (33,294) | ||
| Net cash provided by (used in) investing activities | (16,067) | 17,251 | (18,656) | ||
| Cash flows from financing activities: | |||||
| Proceeds from issuance of common stock under employee plans | 1,409 | 1,807 | 2,562 | ||
| Shares repurchased for tax withholdings on vesting of restricted stock units and in connection with the termination of the ESOP | (784) | (1,596) | (2,060) | ||
| Proceeds from issuance of common stock, net of issuance costs | - | (72) | 6,820 | ||
| Net cash provided by financing activities | 625 | 139 | 7,322 | ||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 13 | (41) | (37) | ||
| Net increase (decrease) in cash, cash equivalents and restricted cash | (22,829) | 19,105 | (1,360) | ||
| Cash, cash equivalents and restricted cash, beginning of year(1) | 49,309 | 30,204 | 31,564 | ||
| Cash, cash equivalents and restricted cash, end of year (1) | $26,480 | $49,309 | $30,204 | ||
| Supplemental cash flow information: | |||||
| Income taxes paid | $100 | $90 | $21 | ||
| Interest paid | $ | - | $ | - | $15 |
| Supplemental disclosure of non-cash flow information: | |||||
| Net transfer of equipment between inventory and property and equipment | $458 | $357 | $646 | ||
| Purchases of property and equipment included in accounts payable and accrued liabilities | $1,259 | $53 | $698 | ||
(1) Includes restricted cash equivalents in prepaid expenses and other current assets and other non-current assets.
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