Aehr Test Systems
18 named things its latest annual report says its results depend on, each in the company's own words. 11 of them are also named by other companies we've read.
Customers
Largest customer
earns from · approximately 26%, 14% and 11%named as a riskDuring fiscal 2026, three customers accounted for approximately 26%, 14% and 11% of our net sales.Risk factors (Item 1A)
Also named by AR, BF/B, BTU, CVLG, DLR, FDXF, FIX, KGS and 6 more
Top five customers
concentrated in · approximately 70%, 77%, and 93%named as a riskSales to our five largest customers accounted for approximately 70%, 77%, and 93% of our net sales in fiscal 2026, 2025, and 2024, respectively.Risk factors (Item 1A)
Suppliers
Sole-source suppliers of environmental chambers, power supplies, interconnects, wafer contactors and ICs
depends onnamed as a riskOur FOX systems, WaferPak Contactors, DiePak Carriers, WaferPak Aligners, and DiePak Loaders contain several components, including environmental chambers, power supplies, high-density interconnects, wafer contactors, module contactors, signal distribution substrates, and certain ICs that are currently supplied by only one or a limited number of suppliers.Risk factors (Item 1A)
Sonoma subcontractor (final integration and test)
depends onIn addition, during fiscal 2026, the Company worked with a long time established subcontractor of the Company to do final integration and test of its Sonoma package level test and burn-in systems.Business (Item 1)
Other companies
Electric vehicle and power semiconductor market
earns from · 17%, 41%, and 92%EV and power semiconductor revenues accounted for 17%, 41%, and 92% of total revenues in fiscal 2026, 2025, and 2024, respectively.Business (Item 1)
Places
International sales (outside United States)
earns from · Approximately 59%, 70%, and 95%named as a riskApproximately 59%, 70%, and 95% of our net sales in fiscal 2026, 2025, and 2024, respectively, were attributable to sales to customers for delivery outside of the United States.Risk factors (Item 1A)
Also named by AMD, AME, ATI, AVAV, CRS, ENTG, FSS, HLIO and 5 more
Philippines
operates in · 28 in the PhilippinesAs of May 29, 2026 regular full-time employees were located in the following geographic areas: 103 in United States, 28 in the Philippines, six in Taiwan, and one in Germany.Business (Item 1)
Also named by ACN, ADI, COF, FDS, HRL, INTU, LITE, MCHP and 5 more
China
operates innamed as a riskGeopolitical tensions involving the United States, China and Taiwan, or changes in U.S., Chinese, Taiwanese or other foreign trade policies, tariffs, export controls, sanctions, technology-transfer restrictions or diplomatic relations, could also adversely affect our ability to sell products in certain foreign markets, support customers, obtain materials or components, or compete effectively.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, ALAB and 261 more
Taiwan
operates innamed as a riskThe ongoing decline in relations between the United States and China, and relations between China and Taiwan, may result in the imposition of trade restrictions with China or Taiwan.Risk factors (Item 1A)
Also named by AAOI, AAPL, AB, ADI, ALAB, AMAT, AMD, ANET and 50 more
China patent infringement proceedings
named as a riskFor a description of the infringement proceedings in China seeking to protect two of our patents, see Note 9, “Commitments and Contingencies” in the Notes to Consolidated Financial Statements.Risk factors (Item 1A)
Fremont, California
operates inFinal assembly and testing are performed at the Company’s principal manufacturing facility located in Fremont, California.Business (Item 1)
Also named by BE
Commodities and inputs
U.S. Dollar
exposed to its pricenamed as a riskTo date, we have not invested in any instruments designed to hedge currency risks.Risk factors (Item 1A)
Also named by A, AAPL, CROX, CSCO, FWONA, IDXX, KEYS, LECO and 4 more
Semiconductor components
depends onnamed as a riskA market shortage of semiconductor and other component supply could affect lead times, the cost of supply, and our ability to meet customer demand for our products.Risk factors (Item 1A)
Also named by GLW
Europe energy costs
exposed to its pricenamed as a riskIncreased energy costs in Europe, resulting from Russia’s limiting energy supplies in the region, may result in an economic downturn or an increase in the cost of materials.Risk factors (Item 1A)
Laws and programs
U.S. tariffs
subject tonamed as a riskThese measures have increased, and may continue to increase, our cost of revenues and operating expenses by raising the cost of imported raw materials, components, equipment, and other inputs used in our business.Risk factors (Item 1A)
Also named by A, AAPL, ACHR, ADI, AEP, AIOT, AKAM, AM and 170 more
International Emergency Economic Powers Act
subject tonamed as a riskAlthough certain tariffs previously imposed by the United States under the International Emergency Economic Powers Act were invalidated by the U.S. Supreme Court in February 2026 and are no longer being collected, other tariffs and trade restrictions remain in effect or may be imposed, modified, expanded, or reinstated under other legal authorities.Risk factors (Item 1A)
Technology
Full wafer contact product lines (FOX-P, WaferPak)
earns from · $31.5 millionNet revenues of full wafer contact product lines, systems, WaferPak Contactors and services for fiscal 2026, 2025, and 2024 were $31.5 million, $39.2 million, and $64.6 million, respectively, and accounted for approximately 63%, 66%, and 98% of the Company’s net revenues in fiscal 2026, 2025, and 2024, respectively.Business (Item 1)
Package level product lines (Sonoma, Tahoe, Echo)
earns from · $18.5 millionNet revenues of package level product lines, systems and services for fiscal 2026, 2025, and 2024 were $18.5 million, $19.8 million, and $1.6 million, respectively, and accounted for approximately 37%, 34%, and 2% of the Company’s net revenues in fiscal 2026, 2025, and 2024 respectively.Business (Item 1)