
Aehr Test Systems, Inc.
NASDAQ•AEHR
CEO: Mr. Rhea J. Posedel
Sector: Technology
Industry: Semiconductors
Listing Date: 1997-08-15
Aehr Test Systems, Inc. provides test solutions for testing, burning-in, and semiconductor devices in wafer level, singulated die, package part form, and installed systems worldwide. Its product portfolio includes FOX-XP and FOX-NP systems that are full wafer contact and singulated die/module test and burn-in systems that can test, burn-in, and stabilize range of devices, including silicon carbide-based and other power semiconductors, 2D and 3D sensors used in mobile phones, tablets and other computing devices, memory semiconductors, processors, microcontrollers, systems-on-a-chip, and photonics and integrated optical devices. The company also offers FOX-CP system, a low-cost single-wafer compact test solution for logic, memory, and photonic devices; and FOX WaferPak Contactor, a full wafer contactor capable of testing wafers up to 300mm that enables integrated circuit manufacturers to perform test, burn-in, and stabilization of full wafers on the FOX-P systems. In addition, it provides FOX DiePak Carrier, which allows testing, burning in, and stabilization of singulated bare die and modules; and FOX DiePak Loader. The company was incorporated in 1977 and is headquartered in Fremont, California.
Contact Information
Market Cap
$858.79M
P/E (TTM)
-95.1
64.2
Dividend Yield
--
52W High
$34.35
52W Low
$6.27
52W Range
Rank56Top 81.7%
2.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q2 2026 Data
Revenue
$9.88M-26.53%
4-Quarter Trend
EPS
-$0.11+217.00%
4-Quarter Trend
FCF
-$1.85M-70.08%
4-Quarter Trend
2026 Q2 Earnings Highlights
Key Highlights
Quarterly Revenue Decline Quarterly revenue $9.88M, down 27% from prior year, driven by lower contactor shipments impacting results.
Gross Margin Compression Six months gross margin compressed 17.0 points to 30.0% due to lower overhead absorption and product mix.
Financing Activity Strong Financing cash flow provided $9.62M, primarily driven by net proceeds from common stock ATM offering program.
AI Systems Revenue Growth Systems revenue increased $1.6M in the quarter, driven by strong demand from AI-related semiconductor customers.
Risk Factors
Contactor Demand Softness Contactor revenue dropped $5.1M this quarter; softness in electric vehicle demand severely impacted shipment volumes.
Customer Concentration High Customer A represented 58.8% of three months revenue, indicating high concentration risk in sales base.
Wider Net Loss Six months net loss widened substantially to $(5.31M) versus prior year's $(368K) loss, reflecting margin pressure.
China Patent Litigation Setback First-instance court dismissed China patent infringement claims against Semight; Company filed appeals in January 2026.
Outlook
AI Drives Systems Growth AI application demand drives systems revenue growth, partially offsetting broad softness in other product lines this period.
Sufficient Liquidity Expected Existing cash resources and anticipated operating funds are believed sufficient to fund requirements for next twelve months.
Increased R&D Investment Research and development expenses increased 31% for the quarter due to higher employment-related costs and headcount.
Intangible Amortization Schedule Future amortization expense for finite-lived purchased intangible assets is estimated to total $10.14M through 2031 and beyond.
Peer Comparison
Revenue (TTM)
$957.34M
$696.78M
COHU$424.85M
Gross Margin (Latest Quarter)
CEVA88.0%
COHU43.8%
41.9%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| SKYT | $1.52B | 12.0 | 144.4% | 26.6% |
| COHU | $1.32B | -18.0 | -8.7% | 4.9% |
| ICHR | $1.08B | -26.3 | -5.9% | 16.9% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-18.6%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
0%
Cash Flow Needs Attention
Research & Insights
Next earnings:Apr 6, 2026
EPS:-
|Revenue:-
Reports
All Years
Form 10-Q - Q2 2026
Period End: Nov 28, 2025|Filed: Jan 12, 2026|Revenue: $9.88M-26.5%|EPS: $-0.11+217.0%MissForm 10-Q - Q1 2026
Period End: Aug 29, 2025|Filed: Oct 8, 2025|Revenue: $10.97M-16.4%|EPS: $-0.07-406.6%MissForm 10-K - FY 2025
Period End: May 30, 2025|Filed: Jul 28, 2025|Revenue: $58.97M-10.9%|EPS: $-0.13-111.3%MissForm 10-Q - Q3 2025
Period End: Feb 28, 2025|Filed: Apr 10, 2025|Revenue: $18.31M+142.1%|EPS: $-0.02-57.6%MissForm 10-Q - Q2 2025
Period End: Nov 29, 2024|Filed: Jan 13, 2025|Revenue: $13.45M-37.2%|EPS: $-0.03-116.4%MissForm 10-Q - Q1 2025
Period End: Aug 30, 2024|Filed: Oct 11, 2024|Revenue: $13.12M-36.4%|EPS: $0.02-86.1%BeatForm 10-K - FY 2024
Period End: May 31, 2024|Filed: Jul 30, 2024|Revenue: $66.22M+1.9%|EPS: $1.15+119.6%BeatForm 10-Q - Q3 2024
Period End: Feb 29, 2024|Filed: Apr 10, 2024|Revenue: $7.56M-56.0%|EPS: $-0.05-134.4%Miss