Edwyn
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $10 | $51 | $65 | $66 | $59 |
| Gross Profit | $5 | $24 | $33 | $33 | $24 |
| Operating Income | -$4 | $8 | $13 | $10 | -$6 |
| Net Income | $1 | $9 | $15 | $33 | -$4 |
Over the five-year period, AEHR TEST SYSTEMS exhibited noticeable volatility in its income statement metrics. Revenue surged from around USD 9.6 million in 2021 to nearly USD 50.8 million in 2022—a growth rate exceeding 400%—and continued to climb to over USD 64.9 million in 2023, reflecting strong market demand or successful contract wins during that period. Gross profit mirrored this trajectory, rising from USD 4.5 million in 2021 to almost USD 32.7 million in 2023. Operating income turned from a loss of USD 4.2 million in 2021 to a profit of USD 13.4 million in 2023, indicating improvements in cost management and operational efficiency. Net income also improved steadily through 2024, reaching an impressive USD 33.2 million, which suggests that non-operational factors or tax benefits might have contributed to that spike despite a slight dip in operating income in 2024. However, a significant reversal occurred in 2025, with revenue declining to approximately USD 59.0 million and gross profit dropping to roughly USD 23.9 million. Operating income swung from a profit to a negative outcome (USD -5.7 million), and net income also fell into the negative territory (USD -3.9 million), marking substantial year-over-year declines that exceed the 20% change threshold. In the context of the semiconductor test systems industry—known for its cyclical nature and sensitivity to market conditions—these swings could be driven by a downturn in industry demand, increased competitive pressures, or shifts in production cycles. Overall, while earlier years demonstrated robust growth and expanding profitability, the sharp reversal seen in 2025 raises concerns about the sustainability of the company’s financial health without corrective operational or strategic adjustments.
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.