Aehr Lifts Fiscal 2027 Revenue Outlook to $150 Million

The Tip Desk · November 3, 2026 · 3 min read

The semiconductor test maker booked $46.7 million in the quarter ended September 25, 2026, and now expects fiscal 2027 revenue of $150 million after a record $33.0 million quarter.

Aehr Test Systems (AEHR) raised its fiscal 2027 revenue outlook to $150 million from a previous range of $130 million to $150 million after a record first quarter, and said it expects non-GAAP net income of at least 20% of revenue for the year ending June 25, 2027.

The Fremont, California, provider of test and burn-in solutions for semiconductor devices used in artificial intelligence, silicon photonics, data center, automotive, and industrial applications said the updated outlook represents 200% growth over fiscal 2026 revenue of $50.0 million. It attributed the increase to first-quarter performance, substantial backlog, visibility into existing customer production programs, and anticipated production and delivery schedules.

Revenue was $33.0 million in the three months ended September 25, 2026, up 200% from $11.0 million in the first quarter of fiscal 2026 and 75% sequentially from $18.8 million in the fiscal 2026 fourth quarter. GAAP results swung to net income of $7.2 million, or $0.21 a share, from a net loss of $2.1 million, or $0.07 a share, a year earlier. Non-GAAP net income was $9.4 million, or $0.28 a share, versus $0.2 million, or $0.01 a share, a year earlier. GAAP gross margin was 47.5% and non-GAAP gross margin was 48.5%.

Bookings were $46.7 million, a book-to-bill ratio of approximately 1.4, down from record bookings of $60.7 million in the fiscal 2026 fourth quarter. Backlog was $100.9 million as of September 25, 2026. Effective backlog, including bookings received after quarter end, was $109.3 million as of November 1, 2026, versus backlog of $80.6 million as of May 29, 2026. Cash, cash equivalents and restricted cash totaled $105.1 million as of September 25, 2026, compared with $116.5 million as of May 29, 2026.

President and CEO Gayn Erickson said the quarter demonstrated accelerating demand for AI semiconductor test and burn-in solutions and the company’s ability to execute against expanding customer production requirements. He said demand for FOX wafer-level burn-in remains strong, that the lead AI processor WLBI production customer continues to expand capacity, supported by a $22 million follow-on order announced in August 2026, and that a major supplier of AI accelerators, CPUs, and network processors completed a benchmark evaluation last quarter.

That customer has decided to purchase a fully configured FOX-XP WLBI test cell for installation at one of its key OSAT partners in Taiwan, where the system will be evaluated in a high-volume production environment using the same device tested in last quarter’s benchmark. Installation is planned for early calendar 2027, with a decision regarding high-volume production anticipated within several months following installation and validation. Aehr said the customer represents one of the largest potential burn-in system opportunities it has ever pursued.

The Sonoma high-power package-level burn-in business is also expanding, the company said. It is currently shipping and installing more than a dozen systems per month to support a lead hyperscale customer’s production ramp for its first AI processor. The same customer’s second AI processor has completed qualification on Sonoma, and Aehr has received follow-on orders to support initial production sampling and an anticipated production ramp in calendar 2027. The customer forecasts that this second processor will ultimately reach higher production volumes than its first.

Erickson said the customer base has diversified from a handful of potential large-order customers to more than a dozen customers spanning AI processors, silicon photonics, silicon carbide, gallium nitride, and other applications. The company said it is also advancing evaluations with additional AI processor suppliers and hyperscale customers.