Aehr Test Systems Reports Record First Quarter Fiscal 2027 Revenue of $33.0 Million; Raises Full-Year Revenue Outlook to $150 Million, Triple Fiscal 2026 Revenue

Bookings exceeded quarterly revenue, while Aehr expects fiscal 2027 revenue growth of 200% over fiscal 2026.

Rhea-AI Summary

Aehr Test Systems (NASDAQ: AEHR) reported record fiscal first-quarter 2027 revenue of $33.0 million and raised its full-year revenue outlook. Revenue for the quarter ended September 25, 2026 rose 200% year over year and 75% sequentially. GAAP net income was $7.181 million, or $0.21 per diluted share, versus a $2.084 million loss, or $0.07 per share, a year earlier.

Bookings reached $46.7 million, with backlog of $100.9 million at quarter-end and effective backlog of $109.3 million on November 1, including subsequent bookings. Cash, cash equivalents and restricted cash totaled $105.1 million, down from $116.5 million on May 29. Aehr now expects fiscal 2027 revenue of $150 million, versus its previous $130 million–$150 million range, and non-GAAP net income of at least 20% of revenue. AI processor customers are expanding orders, while a new FOX-XP installation is planned for early calendar 2027, ahead of production evaluation.

14 points · 1 major

PositiveiHow this balance works

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Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 4 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Fiscal 2027 revenue outlook raised to $150 million from $130 million–$150 million; Aehr expects 200% annual growth.
• Moderate pointRecord quarterly revenue of $33.0 million increased 200% year over year and 75% sequentially.
• Moderate pointGAAP net income of $7.181 million, or $0.21 diluted, reversed a $2.084 million year-earlier loss.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Non-GAAP net income outlook is at least 20% of revenue for fiscal 2027 ending June 25, 2027.
• Moderate pointBookings of $46.7 million produced a book-to-bill ratio of approximately 1.4. 2.6% of market cap
• Moderate pointEffective backlog reached $109.3 million on November 1, including bookings after September 25's $100.9 million backlog.
• Moderate pointOperating income reached $6.047 million, versus a $4.066 million operating loss a year earlier.
• Moderate pointLead AI wafer-level testing customer continues expanding capacity, supported by an August 2026 $22 million follow-on order. 1.2% of market cap
• Moderate point. Forward-looking: it has not happened yet and may not happen.Second AI processor qualified on Sonoma; follow-on orders support initial sampling and an anticipated calendar 2027 production ramp.

5 minor points

• Minor pointGAAP gross margin was 47.5%; non-GAAP gross margin was 48.5%.
• Minor pointNon-GAAP net income reached $9.357 million, versus $171,000 a year earlier; sequential growth was approximately 163%.
• Minor point. Forward-looking: it has not happened yet and may not happen.FOX-XP purchase decision followed an AI chip supplier's successful benchmark; installation is planned for early calendar 2027.
• Minor pointSonoma shipments and installations exceed a dozen systems monthly for the lead hyperscale customer's first AI processor.
• Minor pointAehr reports potential production-order customers now exceed a dozen, versus historically only a handful.

Negative

• Moderate pointNew FOX-XP production decision remains pending, anticipated within several months after planned installation and validation in Taiwan.
• Minor pointCash, cash equivalents and restricted cash fell to $105.1 million from $116.5 million on May 29, 2026.
• Minor pointResearch and development expense rose to $4.143 million from $2.849 million in the year-earlier quarter.
• Minor pointSelling, general and administrative expense rose to $5.473 million from $4.717 million a year earlier.

News Explained

The Sonoma program has reached ordered sampling, while the FOX-XP program still awaits installation, validation, and a later production decision.

A customer has decided to purchase a fully configured FOX-XP wafer-level burn-in test cell for evaluation at an OSAT partner in Taiwan.

Installation is planned for early calendar 2027, with a high-volume production decision anticipated within several months after installation and validation. Separately, a second AI processor has completed qualification on Aehr's Sonoma package-level burn-in system; Aehr has received follow-on orders for initial production sampling, and a production ramp is anticipated in calendar 2027.

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Market Reaction – AEHR

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On Nov 2, the day this news came out, the latest delayed price for AEHR is 15.89% above the previous close. Our momentum scanner has recorded 81 alerts for this stock so far that day. The latest delayed price is $59.65. Relative volume is above average at 1.6x what this stock usually trades by this time of day.

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Key Figures

Record revenue: $33.0 million Revenue growth: 200% GAAP net income: $7.2 million +5 more

Record revenue

$33.0 million

Fiscal Q1 2027

Revenue growth

200%

Year over year in fiscal Q1 2027

GAAP net income

$7.2 million

Fiscal Q1 2027

Non-GAAP net income

$9.4 million

Fiscal Q1 2027

Bookings

$46.7 million

Fiscal Q1 2027

Effective backlog

$109.3 million

As of November 1, 2026

Fiscal 2027 revenue outlook

$150 million

Raised from a previous range of $130 million to $150 million

Non-GAAP net income outlook

At least 20% of revenue

Fiscal 2027

Previous Earnings Reports

1 past event · Latest: Jul 14

Same Type 1 event

1. Jul 14

   FY26 Q4 earnings

   24h Move

   +21.9%

   Set fiscal 2027 revenue guidance at $130–$150 million and non-GAAP net income at 18%–22%.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-gaap, book-to-bill ratio, wafer-level burn-in, outsourced semiconductor assembly and test

4 terms

non-gaap financial

"Non-GAAP net income, which excludes stock-based compensation and acquisition-related adjustments"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

book-to-bill ratio financial

"representing a book-to-bill ratio of approximately 1.4"

The book-to-bill ratio compares the value of new orders a company receives to the value of products it ships out or bills for over a certain period. If the ratio is above 1, it means the company is getting more orders than it is completing, which can indicate growth. If it's below 1, it suggests demand is slowing down.

wafer-level burn-in technical

"Demand for our FOX™ wafer-level burn-in (WLBI) solutions remains strong."

Wafer-level burn-in is a manufacturing stress test where semiconductor chips are powered and heated while still part of the full wafer to force early-life failures to appear before the chips are cut and packaged. For investors, it matters because performing this test improves product reliability and reduces later recalls or warranty costs, but it also raises manufacturing time and expense; think of it as shaking a batch of products to find weak ones before they reach customers.

outsourced semiconductor assembly and test technical

"at one of its key Outsourced Semiconductor Assembly and Test (OSAT) partners in Taiwan"

Outsourced semiconductor assembly and test refers to the practice of hiring specialized third-party firms to take finished silicon chips, package them into usable components, and perform final quality and performance checks before they ship. Think of it as hiring a contract workshop to put together and inspect a gadget built from internal parts. Investors watch this because it affects product cost, production capacity, supply-chain risk, and profit margins, which influence a chip maker’s reliability and earnings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FREMONT, CA / ACCESS Newswire / November 2, 2026 / Aehr Test Systems (NASDAQ:AEHR), a leading provider of test and burn-in solutions for semiconductor devices used in artificial intelligence (AI), silicon photonics, data center, automotive, and industrial applications, today announced financial results for its first quarter of fiscal 2027 ended September 25, 2026.

Fiscal First Quarter Financial Results:

• Record revenue was $33.0 million, up 200% from $11.0 million in the first quarter of fiscal 2026 and 75% sequentially.
• GAAP gross margin was 47.5%, and non-GAAP gross margin was 48.5%.
• GAAP net income was $7.2 million, or $0.21 per diluted share, compared with a GAAP net loss of $(2.1) million, or $(0.07) per diluted share, in the first quarter of fiscal 2026.
• Non-GAAP net income, which excludes stock-based compensation and acquisition-related adjustments, was $9.4 million, or $0.28 per diluted share, compared with non-GAAP net income of $0.2 million, or $0.01 per diluted share, in the first quarter of fiscal 2026. Non-GAAP net income increased approximately 163% sequentially.
• Bookings were $46.7 million, representing a book-to-bill ratio of approximately 1.4.
• 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.
• Cash, cash equivalents and restricted cash totaled $105.1 million as of September 25, 2026, compared to $116.5 million as of May 29, 2026.

An explanation of the use of non-GAAP financial measures and a reconciliation to the most directly comparable GAAP financial measures are included in the accompanying financial tables.

Gayn Erickson, President and CEO of Aehr Test Systems, commented:

"Our fiscal first quarter results demonstrate the accelerating demand for our AI semiconductor test and burn-in solutions and our ability to execute against expanding customer production requirements. Revenue increased 200% year over year and 75% sequentially to a record $33.0 million, while bookings of $46.7 million exceeded revenue by over 40%, reflecting continued strong demand for our wafer-level and package-level burn-in solutions.

"Based on our first quarter performance, substantial backlog, and visibility into customer production requirements, we are raising our fiscal 2027 revenue outlook to $150 million, compared with our previous guidance range of $130 million to $150 million. We expect non-GAAP net income of at least 20% of revenue for fiscal year 2027.

"Demand for our FOX™ wafer-level burn-in (WLBI) solutions remains strong. Our lead AI processor WLBI production customer continues to expand capacity, supported by the $22 million follow-on order announced in August 2026. We have also made significant progress with a major supplier of AI accelerators, CPUs, and network processors that successfully completed a benchmark evaluation last quarter. This customer has decided to purchase a fully configured FOX-XP WLBI test cell for installation at one of its key Outsourced Semiconductor Assembly and Test (OSAT) partners in Taiwan, where the system will be evaluated in a high-volume production environment using the same device that was successfully 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. We believe this customer represents one of the largest potential burn-in system opportunities Aehr has ever pursued, with significant potential across multiple product lines and manufacturing locations.

"Our Sonoma high-power package-level burn-in (PLBI) business is also expanding rapidly. We are currently shipping and installing more than a dozen systems per month to support our lead hyperscale customer's production ramp for its first AI processor. The same customer's second AI processor has now successfully completed qualification on Sonoma, and we have received follow-on orders to support initial production sampling and an anticipated production ramp in calendar 2027. Importantly, the customer forecasts that this second processor will ultimately reach higher production volumes than its first. We are also advancing evaluations with additional AI processor suppliers and hyperscale customers, creating opportunities for new production programs.

"Another important development is the significant diversification of our customer base. Historically, we had only a handful of customers with the potential to generate significant production orders. Today, we see that potential across more than a dozen customers spanning AI processors, silicon photonics, silicon carbide, gallium nitride, and other applications.

"With existing customers expanding production, new AI processor programs advancing toward high-volume production, and an increasingly diversified pipeline of opportunities, we believe Aehr is exceptionally well positioned to capitalize on the growing need for advanced semiconductor test and burn-in solutions over the next several years."

Financial Guidance

For fiscal 2027 ending June 25, 2027, Aehr now expects:

• Revenue of $150 million, compared with its previous guidance range of $130 million to $150 million.
• Non-GAAP net income of at least 20% of revenue.

The updated revenue outlook represents 200% growth over fiscal 2026.

The increased outlook reflects Aehr's strong first quarter performance, substantial backlog, increasing visibility into existing customer production programs, and anticipated production and delivery schedules. Aehr continues to pursue additional opportunities with existing and prospective customers that could support additional growth in fiscal 2027 and beyond.

Management Conference Call and Webcast:

Aehr Test Systems will host a conference call and webcast today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) to discuss its first quarter fiscal 2027 financial results. To access the live call, dial +1 888-506-0062 (US and Canada) or +1 973-528-0011 (International) and give the participant passcode 953740. In addition, a live and archived webcast of the conference call will be available over the Internet at www.aehr.com in the Investor Relations section and may also be accessed by clicking here. A phone replay of the call will be available approximately two hours following the end of the live call and will remain available for one week. To access the call replay, dial +1 877-481-4010 (US and Canada) or +1 919-882-2331 (International) and enter replay passcode 54635.

About Aehr Test Systems

Headquartered in Fremont, California, Aehr Test Systems is a leading provider of test solutions for testing, burning in, and stabilizing semiconductor devices in wafer-level, singulated die, and package-level form, and has installed thousands of systems worldwide. Increasing quality, reliability, safety, and security needs of semiconductors used across multiple applications, including advanced AI processors, silicon photonics, data and telecommunications infrastructure, electric vehicles, electric vehicle charging infrastructure, solar and wind power, computing, and solid-state memory and storage are driving additional test requirements, incremental capacity needs, and new opportunities for Aehr's products and solutions. Aehr has developed and introduced several innovative products including the FOX-P^™ families of test and burn-in systems and the FOX WaferPak^™Aligner, FOX WaferPak Contactor, FOX DiePak^® Carrier and FOX DiePak Loader. The FOX-XP and FOX-NP systems are full-wafer contact and singulated die/module test and burn-in systems that can test, burn in, and stabilize a wide range of devices such as leading-edge 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 FOX-CP system is a low-cost single-wafer compact test solution for logic, memory and photonic devices and the newest addition to the FOX-P product family. The FOX WaferPak Contactor contains a unique full-wafer contactor capable of testing wafers up to 300mm, enabling IC manufacturers to perform test, burn-in, and stabilization of full wafers on FOX-P systems. The FOX DiePak Carrier allows testing, burn-in, and stabilization of singulated bare die and modules up to 1024 devices in parallel per DiePak on the FOX-NP and FOX-XP systems up to nine DiePaks at a time. Through its acquisition of Incal Technology, Inc., Aehr added a line of high-power package-level reliability/burn-in test solutions for AI semiconductor manufacturers, including its ultra-high-power Sonoma family of test solutions for AI accelerators, GPUs, and high-performance computing (HPC) processors, which position Aehr within the rapidly growing AI market as a turnkey provider of reliability and test solutions that span from engineering to high-volume production. For more information, please visit Aehr Test Systems' website at www.aehr.com.

Safe Harbor Statement

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Aehr's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "forecasts." "predicts," "potential," or "continue," or the negative of these words or other similar terms or expressions that concern Aehr's expectations, strategy, priorities, plans, or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding future bookings, backlog, benchmark evaluations and product development from Aehr's new and existing customers; future applications and orders for AI processors, test solutions for AI semiconductor manufacturers and the Sonoma system; customer forecasts, and production ramps; revenue and revenue growth forecasted; financial performance and bookings forecasted; financial guidance for the fiscal year 2027, including revenue; expectations regarding current and future partnerships; expectations regarding industry demand and emerging technologies as a whole and smaller segments within it; and the ability for Aehr to successfully enter new markets. These forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including, among others, the non-binding nature of customer forecasts; the possibility that orders are canceled, rescheduled, or delayed; macroeconomic, trade, tariff, and geopolitical conditions, including those affecting Taiwan and Southeast Asia; and conditions in the semiconductor, AI, silicon carbide, GaN, and memory markets. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Aehr's most recent Annual Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q and other reports filed from time to time with the Securities and Exchange Commission. Aehr disclaims any obligation to update information contained in any forward-looking statement to reflect events or circumstances occurring after the date of this press release, except as required by law.

Contacts:

Aehr Test Systems Chris Siu Chief Financial Officer csiu@aehr.com

PondelWilkinson Todd Kehrli Investor Contact tkehrli@pondel.com

-Financial Tables to Follow-

AEHR TEST SYSTEMS
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

		Three Months Ended												One Month Ended
		September 25,				May 29,				August 29,				June 26,
(In thousands, except per share data)		2026				2026				2025				2026
Revenue		$	33,007			$	18,835			$	10,969			$	638
Cost of revenue			17,344				10,816				7,250				1,650
Gross profit (loss)			15,663				8,019				3,719				(1,012	)
Operating expenses:
Research and development			4,143				3,645				2,849				1,164
Selling, general and administrative			5,473				5,580				4,717				1,819
Restructuring charges			-				-				219				-
Total operating expenses			9,616				9,225				7,785				2,983
Income (loss) from operations			6,047				(1,206	)			(4,066	)			(3,995	)
Interest income, net			899				748				179				301
Other income (expense), net			(19	)			3				1,051				21
Income (loss) before income tax expense (benefit)			6,927				(455	)			(2,836	)			(3,673	)
Income tax benefit			(254	)			(1,846	)			(752	)			(930	)
Net income (loss)		$	7,181			$	1,391			$	(2,084	)		$	(2,743	)
Net income (loss) per share:
Basic		$	0.22			$	0.04			$	(0.07	)		$	(0.08	)
Diluted		$	0.21			$	0.04			$	(0.07	)		$	(0.08	)
Shares used in per share calculations:
Basic			32,619				31,881				29,923				32,485
Diluted			33,520				33,170				29,923				32,485

Effective fiscal 2027, the Company changed its fiscal year-end from the Friday nearest May 31 to the Friday nearest June 30. The three months ended September 25, 2026 reflect the period from June 27, 2026 through September 25, 2026. The one month ended June 26, 2026 represents the transition period (May 30, 2026 to June 26, 2026) between the end of fiscal 2026 and the start of fiscal 2027. Financial information for the three months ended September 26, 2025 is not presented because the three months ended August 29, 2025 provide a meaningful comparison to the three months ended September 25, 2026.

AEHR TEST SYSTEMS
RECONCILIATION OF GAAP TO NON-GAAP RESULTS
(Unaudited)

		Three Months Ended												One Month Ended
		September 25,				May 29,				August 29,				June 26,
(In thousands, except per share data)		2026				2026				2025				2026
Reconciliation of GAAP to non-GAAP gross profit (loss)
GAAP gross profit (loss)		$	15,663			$	8,019			$	3,719			$	(1,012	)
Special items:
a) Stock-based compensation expense			171				216				159				36
b) Acquisition-related adjustments			190				191				237				63
Non-GAAP gross profit (loss)		$	16,024			$	8,426			$	4,115			$	(913	)
Reconciliation of GAAP to non-GAAP operating expenses
GAAP operating expenses		$	9,616			$	9,225			$	7,785			$	2,983
Special items:
a) Stock-based compensation expense			(1,709	)			(1,649	)			(1,512	)			(412	)
b) Acquisition-related adjustments			(106	)			(105	)			(105	)			(35	)
c) Restructuring charges			-				-				(219	)			-
Non-GAAP operating expenses		$	7,801			$	7,471			$	5,949			$	2,536
Reconciliation of GAAP to non-GAAP income (loss) from operations
GAAP income (loss) from operations		$	6,047			$	(1,206	)		$	(4,066	)		$	(3,995	)
Special items:
a) Stock-based compensation expense			1,880				1,865				1,671				448
b) Acquisition-related adjustments			296				296				342				98
c) Restructuring charges			-				-				219				-
Non-GAAP income (loss) from operations		$	8,223			$	955			$	(1,834	)		$	(3,449	)
Reconciliation of GAAP to non-GAAP income (loss) before income tax benefit
GAAP income (loss) before income tax benefit		$	6,927			$	(455	)		$	(2,836	)		$	(3,673	)
Special items:
a) Stock-based compensation expense			1,880				1,865				1,671				448
b) Acquisition-related adjustments			296				296				365				98
c) Restructuring charges			-				-				219				-
Non-GAAP income (loss) before income tax benefit		$	9,103			$	1,706			$	(581	)		$	(3,127	)
Reconciliation of GAAP to non-GAAP net income (loss)
GAAP net income (loss)		$	7,181			$	1,391			$	(2,084	)		$	(2,743	)
Special items:
a) Stock-based compensation expense			1,880				1,865				1,671				448
b) Acquisition-related adjustments			296				296				365				98
c) Restructuring charges			-				-				219				-
Non-GAAP net income (loss)		$	9,357			$	3,552			$	171			$	(2,197	)
Reconciliation of GAAP to non-GAAP income (loss) per diluted share
GAAP income (loss) per diluted share		$	0.21			$	0.04			$	(0.07	)		$	(0.08	)
Special items:
a) Stock-based compensation expense			0.06				0.06				0.06				0.01
b) Acquisition-related adjustments			0.01				0.01				0.01				0.00
c) Restructuring charges			-				-				0.01				-
Non-GAAP income (loss) per diluted share		$	0.28			$	0.11			$	0.01			$	(0.07	)

a) Represents compensation expense for equity awards granted to employees and directors.
b) Represents amortization of acquired intangible assets and accretion expense of escrow payable.
c) Represents employee termination benefits.

Non-GAAP measures should not be considered a replacement for GAAP results. The non-GAAP measures indicated above are financial measures the Company uses to evaluate the underlying results and operating performance of the business. The limitation of these measures are that they exclude items that impact the Company's current period GAAP measures. This limitation is best addressed by using these measures in combination with the most directly comparable GAAP financial measures. These measures are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies.

We believe these measures enhance investors' ability to review the Company's business from the same perspective as the Company's management and facilitate comparisons of this period's results with prior periods.

AEHR TEST SYSTEMS
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)

		September 25,				June 26,				May 29,
(In thousands, except par value)		2026				2026				2026
ASSETS
Current assets:
Cash and cash equivalents		$	104,902			$	112,308			$	116,358
Accounts receivable			26,630				15,946				17,473
Inventories			53,120				44,410				41,354
Prepaid expenses and other current assets			11,225				9,745				9,263
Total current assets			195,877				182,409				184,448
Property and equipment, net			8,820				8,814				8,940
Goodwill			10,719				10,719				10,719
Intangible assets, net			9,157				9,453				9,552
Deferred tax assets, net			25,120				24,766				23,829
Operating lease right-of-use assets, net			8,812				8,838				8,901
Other non-current assets			277				306				305
Total assets		$	258,782			$	245,305			$	246,694
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable		$	12,504			$	6,353			$	6,754
Accrued expenses and other current liabilities			6,295				5,214				5,283
Operating lease liabilities, short-term			653				592				626
Deferred revenue, short-term			7,944				6,698				5,192
Total current liabilities			27,396				18,857				17,855
Operating lease liabilities, long-term			9,151				9,202				9,256
Deferred revenue, long-term			86				56				34
Other long-term liabilities			37				38				38
Total liabilities			36,670				28,153				27,183
Shareholders' equity:
Preferred stock, $0.01 par value: Authorized: 10,000 shares;
Issued and outstanding: none			-				-				-
Common stock, $0.01 par value: Authorized: 75,000 shares;
Issued and outstanding: 32,663 shares, 32,491 shares and 32,480 shares at September 25, 2026, June 26, 2026, and May 29, 2026, respectively			327				325				325
Additional paid-in capital			247,669				249,888				249,477
Accumulated other comprehensive loss			(136	)			(132	)			(105	)
Accumulated deficit			(25,748	)			(32,929	)			(30,186	)
Total shareholders' equity			222,112				217,152				219,511
Total liabilities and shareholders' equity		$	258,782			$	245,305			$	246,694

AEHR TEST SYSTEMS
CONDENSED CONSOLIDATED SATEMENTS OF CASH FLOWS
(Unaudited)

		Three Months Ended								One Month Ended
		September 25,				August 29,				June 26,
(In thousands)		2026				2025				2026
Cash flows from operating activities:
Net income (loss)		$	7,181			$	(2,084	)		$	(2,743	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation expense			1,880				1,671				448
Depreciation and amortization			707				743				228
Deferred income taxes			(354	)			(761	)			(937	)
Amortization of operating lease right-of-use assets			200				179				63
Changes in operating assets and liabilities:
Accounts receivable			(10,686	)			1,140				1,492
Inventories			(9,037	)			218				(3,035	)
Prepaid expenses and other current assets			(1,367	)			1,576				(484	)
Accounts payable			6,230				(2,401	)			(219	)
Accrued expenses			998				505				(76	)
Deferred revenue			1,275				(863	)			1,529
Operating lease liabilities			(164	)			(215	)			(88	)
Income taxes payable			83				10				10
Net cash used in operating activities			(3,054	)			(282	)			(3,812	)
Cash flows from investing activities:
Purchases of property and equipment			(49	)			(1,391	)			(4	)
Net cash used in investing activities			(49	)			(1,391	)			(4	)
Cash flows from financing activities:
Proceeds from issuance of common stock under employee plans			337				170				13
Shares repurchased for tax withholdings on vesting of restricted stock units			(4,474	)			(328	)			(71	)
Payments for common stock issuance costs related to the public offering			(161	)			-				(176	)
Net cash used in financing activities			(4,298	)			(158	)			(234	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(5	)			9				-
Net decrease in cash, cash equivalents and restricted cash			(7,406	)			(1,822	)			(4,050	)
Cash, cash equivalents and restricted cash, beginning of period(1)			112,458				26,480				116,508
Cash, cash equivalents and restricted cash, end of period (1)		$	105,052			$	24,658			$	112,458
Supplemental disclosure of non-cash flow information:
Net transfer of equipment between inventory and property and equipment		$	367			$	-			$	-
Right-of-use assets obtained in exchange for operating leases liabilities		$	174			$	-			$	-

(1) Includes restricted cash within prepaid expenses and other current assets and other non-current assets.

SOURCE: Aehr Test Systems

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Aehr Test Systems' fiscal first-quarter 2027 earnings?

Aehr reported GAAP net income of $7.181 million, or $0.21 per diluted share, for the quarter ended September 25, 2026. The year-earlier quarter had a $2.084 million loss, or $0.07 per diluted share. Revenue reached $33.0 million, up 200% year over year.

What is AEHR's updated fiscal 2027 guidance?

Aehr expects $150 million in revenue and non-GAAP net income of at least 20% of revenue for fiscal 2027 ending June 25, 2027. The revenue outlook replaces a $130 million–$150 million range and represents 200% growth over fiscal 2026.

How did Aehr Test Systems change its fiscal reporting calendar?

Effective fiscal 2027, Aehr changed its fiscal year-end from the Friday nearest May 31 to the Friday nearest June 30. The first quarter covers June 27 through September 25, 2026. A separate one-month transition period ran from May 30 through June 26, 2026.

What does Aehr exclude from its non-GAAP first-quarter 2027 net income?

Aehr's non-GAAP net income excludes $1.880 million of stock-based compensation and $296,000 of acquisition-related adjustments. The acquisition adjustments represent amortization of acquired intangible assets and accretion expense on escrow payable. These exclusions reconcile GAAP net income of $7.181 million to non-GAAP net income of $9.357 million.