News: Suppliers
28 July 2026
Aehr’s quarterly revenue grows 33% year-on-year to $18.8m
For fiscal fourth-quarter 2026 (ended 29 May), Aehr Test Systems of Fremont, CA, USA — which provides solutions for testing, burning-in and stabilizing semiconductor devices in wafer-level, singulated die, and packaged-part form — has reported greater-than-expected revenue of $18.8m, up 83% on $10.3m last quarter and 33% on $14.1m a year ago. Despite this, fiscal full year revenue of $50m for 2026 is still down on $59m for 2025.
On a non-GAAP basis, operating expenses have risen from $5.4m a year ago and $6.3m last quarter to $7.4m, raising fiscal full-year OpEx from $23.2m in 2025 to $25.4m for 2026.
Net income was $3.6m ($0.11 per diluted share), compared to net losses of $1.5m ($0.05 per diluted share) last quarter and $0.25m ($0.01 per diluted share) a year ago. Fiscal full-year net income was $0.9m ($0.03 per diluted share) for 2026, down from $4.6m ($0.15 per diluted share) in 2025.
Cash used in operating activities was $3.3m for fiscal 2026, cut from $7.4m in fiscal 2025.
During fiscal Q4/2026, total cash, cash equivalents and restricted cash rose from $37.1m to $116.5m, boosted by $60m from an equity offering in April.
Fiscal Q4/2026 “capped a year of significant bookings and revenue diversification,” notes president & CEO Gayn Erickson.
Order backlog more than doubles
Quarterly order bookings have risen from just $11m a year ago and $37.2m last quarter to a record $60.7m.
Order backlog has correspondingly risen from $15.2m then $37.2m to $80.6m. Effective backlog (including bookings since 29 May) is $100.6m.
“Record quarterly bookings, a very strong backlog, and growing demand across AI processors, silicon photonics, and power semiconductors for our wafer-level and package-level burn-in solutions position us well for significant growth moving forward,” Erickson says.
“Heading into fiscal year 2027, we have substantial visibility into projected fiscal 2027 revenue of $130–150m, representing expected year-over-year growth of 160–200%,” he adds.
“In wafer-level burn-in (WLBI), demand from AI-related applications continued to accelerate,” Erickson says. “Our lead AI production customer is significantly ramping capacity, driving an increase in forecasted capacity needs for our FOX WLBI solutions this year and beyond. They are shifting their burn-in from system-level to all wafer-level for their AI accelerators used for training and inference applications. We are also engaged with additional AI processor suppliers that are evaluating WLBI to improve product reliability and reduce yield loss from production burn-in of their devices later in the manufacturing process.”
Aehr successfully completed benchmark testing of its WLBI solution with a major supplier of AI accelerators, CPUs, and network processors. The testing was conducted on one of their processors and produced results that exceeded their expectations. “This top-tier AI processor supplier has now expressed interest in moving to pilot-production test validation for its current high-volume device, for which we completed the benchmark,” says Erickson. “They indicated that this device is expected to continue ramping and achieve significant volumes over the next year or more. In addition, they recently requested that we evaluate a second device in parallel. The potential revenue opportunity from any one of these devices is significant to Aehr in terms of near- and long-term revenue streams related to the WLBI systems and proprietary Aehr WaferPak contactors.”
Aehr’s package-level burn-in business for AI processors also gained momentum in the year, highlighted by record follow-on production orders from the firm’s lead hyperscale customer for Sonoma systems supporting high-volume AI processor production burn-in. “This customer is a premier large-scale data-center provider and is forecasting a substantial expansion of Sonoma system purchases for a second device which has twice the power per package as the first device that they are using Sonoma systems for today,” says Erickson. “As their current and next-generation devices ramp, we believe Sonoma systems and consumables can become an increasingly important contributor to Aehr’s revenue. We are also engaged with multiple current and potential new customers for package-level reliability qualification and production burn-in of AI accelerators, application-specific integrated circuits (ASICs), network processors, and also for edge AI processors for automotive and robotics, which represent significant opportunities for Aehr over the next few years.”
“As we have anticipated for the last year, silicon photonics devices and the need for production burn-in is now seeing strong momentum as AI data-center architectures increasingly rely on optical I/O and high-speed interconnects. Our lead silicon photonics customer is ramping, with follow-on orders this past year and more already in this fiscal year for fully automated WLBI systems powering AI optical I/O and data-center interconnects. In addition, our newest major silicon photonics customer that is a global leader in networking products and solutions has provided us a forecast for additional systems this calendar year as it ramps capacity to support next-generation hyperscale data-center deployments. We believe the silicon photonics and optical test and burn-in market has the potential to grow substantially and could be another long-term growth driver.”
“We are seeing encouraging signs of recovery in silicon carbide (SiC) power semiconductors. We are actively engaged to meet the WLBI needs of several of the world’s largest automotive manufacturers and several of their SiC suppliers for their new electric vehicles,” says Erickson. Aehr has also announced that it has received about $8m in new orders in just the last month for silicon carbide WLBI WaferPaks as global electric vehicle programs accelerate. “These include expanded production orders from our lead silicon carbide customer for WaferPak full-wafer contactors, and a key order directly from one of the largest automotive companies in the world for multiple WaferPaks to be used in qualification of silicon carbide devices from suppliers for their new generation of electric vehicles using Aehr’s FOX WLBI systems. This year, we expect renewed demand for both SiC and GaN power semiconductor test and burn-in, driven by automotive electrification and AI data-center power infrastructure,” he adds.
Aehr also continues to pursue opportunities in memory, including NAND flash and potential high-bandwidth memory (HBM) applications with our WLBI solutions roadmap. “The growth of these two memory markets may have never been stronger, with massive capacity increases planned this decade. We continue to work with multiple memory suppliers to align our solutions to meet the production needs of these companies’ new capacity coming online,” says Erickson.
“With multiple customers entering or expanding production, a record backlog, and additional opportunities under discussion for both wafer-level and package-level burn-in, we believe Aehr is well positioned for multiple years of strong revenue growth.”
Full-year revenue expected to grow 160–200% in fiscal 2027
For full-year fiscal 2027 (ending 25 June), Aehr expects revenue to grow 160–200% year-on-year to $130–150m. Net income should be 18–22% of total revenue. This outlook reflects the current effective backlog of about $100m and expected customer demand from existing production programs.
Aehr receives over $8m in SiC wafer-level burn-in orders as global EV programs accelerate
Aehr’s quarterly revenue rebounds to $10.3m
