Aehr Test Systems (AEHR) Stock Rockets 30% After Blowout Q4 Results and Revenue Forecast

Key Highlights

Table of Contents

AEHR shares soared approximately 30% during premarket hours Wednesday following quarterly earnings that significantly exceeded Street forecasts
Fourth-quarter revenue reached $18.84 million, delivering earnings per share of 11 cents against consensus estimates projecting a 1-cent loss
Quarterly bookings hit an all-time high of $60.7 million, representing a massive increase from $11.1 million in the prior-year period
Fiscal year 2027 revenue outlook of $130M-$150M substantially surpasses the $85.13 million analyst consensus forecast
The company’s revenue composition has transformed dramatically—approximately 95% of fiscal 2026 sales originated from markets beyond silicon carbide and electric vehicle applications

Shares of Aehr Test Systems (AEHR) skyrocketed nearly 30% in premarket trading Wednesday, reaching $93.46, following the semiconductor testing equipment maker’s release of fiscal fourth-quarter financial results that demolished Wall Street projections and provided forward guidance significantly higher than anticipated.

Aehr Test Systems, AEHR

The stock had previously gained 5.9% during Tuesday’s regular session, closing at $72.01, ahead of the earnings announcement.

Fourth-quarter revenue totaled $18.84 million, representing growth from $14.09 million in the comparable year-ago quarter and slightly exceeding the Street consensus of $18.69 million. The company posted earnings per share of 11 cents, dramatically outperforming analyst expectations that called for a 1-cent per share loss.

$AEHR Q4 EARNINGS
• Revenue: $19M vs. Est. $19M
• EPS: $0.11 vs. Est. ($0.01)
• Bookings: $61M
• Backlog: $100M
FY27 Guidance
• Revenue: $140M vs. Est. $85M (+180% YoY)
Silicon photonics now has two customers including a new global networking leader forecasting additional… pic.twitter.com/QfvLnGzuGi
— Shay Boloor (@StockSavvyShay) July 14, 2026

The standout metric was bookings performance. The company secured $60.7 million in quarterly bookings—more than quintupling the $11.1 million reported in the year-earlier quarter. This surge was powered by robust demand for Aehr’s Sonoma and FOX burn-in testing platforms, WaferPak products, and solutions targeting AI processor validation.

The company’s backlog reached a record $80.6 million at the end of the fiscal year. When factoring in approximately $20 million in orders received after the quarter ended, the effective backlog climbed to $100.6 million. Additionally, Aehr captured $8 million in fresh silicon carbide contracts during the last month alone.

Dramatic Transformation in Revenue Sources

One of the most remarkable aspects of the quarterly report: Aehr’s revenue composition has undergone a complete transformation. Historically, silicon carbide applications connected to the electric vehicle market generated more than 95% of the company’s revenue. In fiscal 2026, that dynamic reversed entirely—nearly 95% of revenue now comes from other market segments.

The primary growth drivers today include AI processor testing, silicon photonics applications, and power semiconductor markets.

Throughout the quarter, Aehr finalized over 12 gallium nitride WaferPak designs currently undergoing customer testing and validation. The company also introduced what it describes as the semiconductor industry’s first 300-millimeter GaN wafer-level burn-in testing solution designed for high-temperature reverse-bias applications.

Additionally, Aehr closed its inaugural FOX system transaction for silicon MOSFET testing applications and secured its first silicon carbide customer based in Taiwan.

FY2027 Revenue Projection Crushes Street Estimates

For fiscal year 2027, Aehr provided revenue guidance ranging from $130 million to $150 million. This represents year-over-year growth of approximately 160% to 200% and substantially exceeds the $85.13 million consensus among Wall Street analysts.

Management projected non-GAAP pre-tax margins between 18% and 22% and emphasized that manufacturing capacity should not present constraints even if the company achieves the upper end of its revenue guidance range.

CEO Gayn Erickson highlighted that artificial intelligence applications will represent a significantly larger portion of the business during fiscal 2027—both in absolute dollars and as a percentage of the revenue mix. “AI is going to be a big chunk of our business this year, both in dollars and percentage,” Erickson stated.

Erickson emphasized that the current guidance framework primarily reflects contributions from the existing customer base, suggesting that securing additional AI design wins could drive results even higher.

The company reported cash, cash equivalents, and restricted cash of $116.5 million at fiscal year-end.

Through Tuesday’s closing bell, AEHR stock had gained 257% year-to-date and climbed 387% over the trailing twelve-month period.