Aehr Test Systems

Market data as of Jul 28, 2026, 11:21 AM · Source: Yahoo Finance (delayed). Not investment advice.

Overview

A semiconductor test equipment maker specializing in wafer-level burn-in and test systems for silicon carbide, gallium nitride, optical photonics, and memory integrated circuits, positioned to benefit from AI-driven demand for power semiconductor and photonics testing. Fiscal Q4 2026 (reported July 14, 2026) revenue reached $18.8 million (+34% YoY) with record quarterly bookings of $60.7 million, sending shares up 21-29%; despite a full fiscal-year 2026 net loss of $7.13 million on $50.0 million revenue, the company guided fiscal 2027 revenue to $130-150 million (roughly 160-200% growth) on a $100.6 million backlog, driven by AI processor, silicon photonics, and power semiconductor test demand.

Dependency Map

One hop in each direction — see Strategic Connections below for the full, sourced breakdown of every relationship.

Strategic Connections

Strategic Risks

• Small scale and customer concentration typical of specialized test equipment niches
• Uneven quarterly performance historically, though FY2027 guidance implies a significant inflection

Future Outlook

• Growth tied to silicon carbide and gallium nitride power semiconductor adoption in AI data centers
• FY2027 guidance of $130-150M revenue (160-200% growth) backed by $100.6M backlog and hyperscale-focused manufacturing scale-up is the central near-term catalyst

Sources

• U.S. Securities and Exchange Commission (EDGAR) (Jul 2025) — Aehr Test Systems FY2025 Annual Report (Form 10-K), filed with the SEC
• InvestSnips (Apr 2026) — Aehr Test Systems semiconductor test overview
• Aehr corporate site (Jan 2026) — Aehr Test Systems corporate overview
• Investing.com / CryptoBriefing (Jul 2026) — Aehr Test Systems Q4 FY2026 beats forecasts, stock jumps 29% on FY2027 hypergrowth guidance