AEHR TEST SYSTEMS
For the period ended May 29, 2026. Filed Jul 27, 2026.
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FY2026 · Filed Jul 27, 2026
AEHR$59.57-0.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended | ||||||
|---|---|---|---|---|---|---|
| May 29, · May 30, · May 31, | ||||||
| (In thousands) · 2026 · 2025 · 2024 | ||||||
| Cash flows from operating activities: | ||||||
| Net income (loss) | $(7,126) | $(3,910) | $33,156 | |||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
| Stock-based compensation expense | 6,761 | 5,162 | 2,518 | |||
| Depreciation and amortization | 2,799 | 2,312 | 657 | |||
| Deferred income taxes | (4,715) | (421) | (20,773) | |||
| Amortization of operating lease right-of-use assets | 731 | 1,076 | 706 | |||
| Impairment of assets | - | 584 | - | |||
| Accretion of investment discount | - | - | (130) | |||
| Changes in operating assets and liabilities: | ||||||
| Accounts receivable | (3,307) | (3,037) | 6,790 | |||
| Inventories | 11 | (2,441) | (13,732) | |||
| Prepaid expenses and other assets | (2,763) | (5,012) | (875) | |||
| Accounts payable | 991 | (714) | (3,891) | |||
| Accrued expenses | 1,020 | (378) | (792) | |||
| Deferred revenue | 3,209 | 143 | (1,469) | |||
| Operating lease liabilities | (979) | (699) | (423) | |||
| Income taxes payable | 58 | (65) | 14 | |||
| Net cash provided by (used in) operating activities | (3,310) | (7,400) | 1,756 | |||
| Cash flows from investing activities: | ||||||
| Purchases of property and equipment | (2,066) | (4,992) | (749) | |||
| Proceeds from maturities of investments | - | - | 18,000 | |||
| Payments for business acquisition, net of cash and cash equivalents acquired | (1,801) | (11,075) | - | |||
| Net cash provided by (used in) investing activities | (3,867) | (16,067) | 17,251 | |||
| Cash flows from financing activities: | ||||||
| Proceeds from issuance of common stock from public offerings, net of issuance costs | 97,395 | - | (72) | |||
| Proceeds from issuance of common stock under employee plans | 2,200 | 1,409 | 1,807 | |||
| Shares repurchased for tax withholdings on vesting of restricted stock units | (2,384) | (784) | (1,596) | |||
| Net cash provided by financing activities | 97,211 | 625 | 139 | |||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (6) | 13 | (41) | |||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 90,028 | (22,829) | 19,105 | |||
| Cash, cash equivalents and restricted cash, beginning of period(1) | 26,480 | 49,309 | 30,204 | |||
| Cash, cash equivalents and restricted cash, end of period (1) | $116,508 | $26,480 | $49,309 | |||
| Supplemental cash flow information: | ||||||
| Income taxes paid | $60 | $100 | $90 | |||
| Interest paid | $ | - | $ | - | $ | - |
| Supplemental disclosure of non-cash flow information: | ||||||
| Net transfer of equipment between inventory and property and equipment | $702 | $458 | $357 | |||
| Purchases of property and equipment included in accounts payable and accrued liabilities | $ | - | $1,259 | $53 | ||
| Common stock issuance costs included in accounts payable | $296 | $ | - | $ | - | |
(1) Includes restricted cash equivalents in prepaid expenses and other current assets and other non-current assets.
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