Aehr Test Systems (AEHR) Releases Q2 2026 Earnings: Revenue Decline and EPS Miss

Aehr Test Systems (AEHR) — Q2 2026 highlights

Total revenue of $9.9 million, down 26.5% year‑over‑year.

Gross profit of $2.5 million, down 52.9% year‑over‑year.

Cost of goods sold of $7.3 million, down 8.9% year‑over‑year.

Operating loss of $4.6 million, a 207.2% year‑over‑year change.

Net loss attributable to common shareholders of $3.2 million, a 214.2% year‑over‑year change.

Per‑share results

Diluted loss per share of -$0.11, a 266.7% year‑over‑year change.

Balance sheet and cash flow

Cash and cash equivalents of $30.8 million, down 4.3% year‑over‑year.

Negative cash from operating activities of -$1.2 million, down 80.1% year‑over‑year.

Purchases of property, plant and equipment of $467,000, up 45.5% year‑over‑year.

Total liabilities of $18.0 million, down 6.0% year‑over‑year.

Performance versus expectations

Aehr Test Systems missed consensus estimates for the quarter.

Revenue fell short of the estimate of $11.8 million by $1.94 million.

Diluted EPS missed the estimate of -$0.04 by about $0.07 per share.

Bottom line

The Q2 2026 report shows Aehr Test Systems (AEHR) facing a revenue decline and wider losses, while maintaining a cash balance of roughly $30.8 million. Operating cash flow was negative and capital spending rose modestly, and both revenue and EPS came in below Wall Street estimates.

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

Aehr Test Systems Insider Trading Activity

Aehr Test Systems insiders have traded $AEHR stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.

Here’s a breakdown of recent trading of $AEHR stock by insiders over the last 6 months:

RHEA J POSEDEL (Director) sold 18,000 shares for an estimated $356,972
FARIBA DANESH (Director) has made 0 purchases and 2 sales selling 9,000 shares for an estimated $223,101.
HOWARD T SLAYEN (Director) sold 6,000 shares for an estimated $154,357
LAURA OLIPHANT (Director) sold 5,000 shares for an estimated $107,501
ALISTAIR N SPORCK (VP Contactor Business Unit) sold 3,000 shares for an estimated $42,390

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Aehr Test Systems Hedge Fund Activity

We have seen 87 institutional investors add shares of Aehr Test Systems stock to their portfolio, and 59 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC added 1,206,148 shares (+80.7%) to their portfolio in Q3 2025, for an estimated $36,317,116
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added 894,061 shares (+inf%) to their portfolio in Q3 2025, for an estimated $26,920,176
BAILLIE GIFFORD & CO removed 458,737 shares (-23.1%) from their portfolio in Q3 2025, for an estimated $13,812,571
INVESCO LTD. added 336,940 shares (+1137.2%) to their portfolio in Q3 2025, for an estimated $10,145,263
GILDER GAGNON HOWE & CO LLC added 324,040 shares (+inf%) to their portfolio in Q3 2025, for an estimated $9,756,844
NEXT CENTURY GROWTH INVESTORS LLC added 276,346 shares (+inf%) to their portfolio in Q3 2025, for an estimated $8,320,778
D. E. SHAW & CO., INC. added 234,374 shares (+inf%) to their portfolio in Q3 2025, for an estimated $7,057,001

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.