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AEHR shares jump after Q4 beat and aggressive fiscal 2027 outlook
The semiconductor equipment maker guided fiscal 2027 revenue to $140 million, implying about 180% growth, backed by record bookings and a $100.6 million effective backlog.
AEHR Test Systems (AEHR) stock surged after the semiconductor equipment maker delivered a stronger-than-expected Q4, posting adjusted earnings of $0.11 per share versus a consensus loss of $0.01. Revenue came in at $18.84 million, above the $18.69 million forecast, and increased 34% year over year from $14.09 million, according to Yahoo Finance.
The bigger driver was forward guidance. Management issued fiscal 2027 revenue guidance of $140 million, about 180% higher than last year's $50 million, and well above the roughly $85 million consensus estimate, while also projecting non-GAAP pretax net income margins of 18% to 22% for the period.
Record demand metrics supported the outlook. AEHR reported quarterly bookings of $60.7 million, up more than 500% from $11.1 million in the prior-year quarter, and set a backlog record at $80.6 million as of May 29, with effective backlog rising to $100.6 million when including bookings received after that date.
The company also pointed to changes in its end markets and products. It said that two years ago more than 95% of its business was tied to silicon carbide testing for EVs, while nearly 95% of fiscal 2026 revenue came from markets outside EV silicon carbide, with AI processors, CPUs, and network processors making up about 71% of annual revenue. AEHR said AI and silicon photonics burn-in represented more than 80% of fourth-quarter revenue, and management noted a key AI wafer-level customer moved production burn-in screening to wafer level on Aehr systems, forecasting higher capacity needs.