The group’s revenue of $86.03 mil for the quarter declined 35.1% q-o-q, reflecting the pull in of orders by one of the group’s customers from FY2025 to 2H2024.

AEM Holdings has reported a profit before tax of $3.8 million for the 1QFY2025 ended March 31, 2025, down 71.3% q-o-q. This was however higher than the $2.7 million profit before tax reported in 1QFY2024.

The group reported a revenue of $86.03 million for the quarter, a 35.1% q-o-q decrease for 1QFY2025.

The group’s profit before tax margin for 1QFY2025 came in at 4.4%.

AEM says that the sequential drop in revenue reflects the pull-in of orders by one of the group’s customers from FY2025 into 2H2024.

The reduction of revenue was counteracted by the group’s success in moving into high volume manufacturing at its major new AI/ High-Performance Compute (HPC) anchor customer.

Its Test Cell Solutions (TCS) segment saw a 46.9% revenue decline q-o-q primarily driven by the pull-in of orders by one of the group’s customers from FY2025 to the 4Q2024 for inventory management purposes.

Contract Manufacturing, which accounts for 37.7% of the group’s revenue in 1QFY2025, decreased slightly by 2.7% q-o-q.

At the end of March, the group’s net assets were valued at $492.4 million, up $0.1 million from the previous quarter.

The group’s cash and cash equivalents stood at $42.23 million, down 3.5% y-o-y.

The group’s revenue guidance for 1HFY2025 is maintained at $155 million to $170 million, despite the uncertainty created by the current tariff situation.

AEM says that it remains confident in its long-term growth prospects and its differentiation in thermal technology, which is a critical enabler for testing AI/HPC devices and chiplet-based advanced packages.

Shares in AEM Holdings Awx closed 5 cents higher or 4.31% up at $1.21 on May 13.