Aehr Test Systems reported results for its fiscal second quarter ended November 28, 2025, and reinstated guidance for the second half of fiscal 2026.

Fiscal second quarter highlights:

  • Net revenue: $9.9 million (vs. $13.5 million in Q2 FY2025)
  • GAAP net loss: $(3.2) million, or $(0.11) per diluted share (vs. $(1.0) million, or $(0.03) per diluted share)
  • Non-GAAP net loss: $(1.3) million, or $(0.04) per diluted share (vs. non-GAAP net income of $0.7 million, or $0.02 per diluted share)
  • Bookings: $6.2 million
  • Backlog: $11.8 million as of November 28, 2025; effective backlog $18.3 million including post-quarter bookings
  • Total cash, cash equivalents and restricted cash: $31.0 million (vs. $24.7 million at August 29, 2025)

Fiscal first six months:

  • Net revenue: $20.9 million (vs. $26.6 million in the first half of FY2025)
  • GAAP net loss: $(5.3) million, or $(0.18) per diluted share (vs. $(0.4) million, or $(0.01) per diluted share)
  • Non-GAAP net loss: $(1.0) million, or $(0.04) per diluted share (vs. non-GAAP net income of $2.8 million, or $0.10 per diluted share)
  • Cash used in operating activities: $1.5 million


CEO Gayn Erickson noted softer-than-anticipated Q2 revenue but highlighted progress across wafer-level burn-in (WLBI) and packaged-part burn-in (PPBI). Based on recent customer forecasts, the company expects second-half bookings between $60 million and $80 million, positioning Aehr for a strong fiscal 2027 beginning May 30, 2026.

Operational updates:

  • WLBI momentum: Production installations expanded across multiple end markets. A lead AI processor customer requested additional capacity this fiscal year and plans to add systems and transition to Aehr’s fully integrated automatic WaferPak™ aligner for 300 mm wafers.
  • New WLBI hardware: Initial high-power fine-pitch WaferPak for AI processors entered testing under a benchmark program with a top-tier AI supplier using FOX-XP™ systems. Two additional AI companies requested WLBI benchmark evaluations.
  • Services partnership: Aehr announced a strategic partnership with ISE Labs to deliver advanced wafer-level test and burn-in services for next-generation HPC and AI applications.
  • PPBI traction: Growing packaged-part qualification and production burn-in for AI is driving orders for the Sonoma™ ultra-high-power PPBI platform. Fiscal Q3-to-date orders exceed $5.5 million, including initial orders for the next-generation fully automated Sonoma platform from a premier Silicon Valley lab.
  • Pipeline and forecasts: New Sonoma wins for HTOL qualification are expected to drive additional capacity at test houses, with at least one customer planning production later this calendar year. The lead PPBI production customer for AI processors forecasts substantial growth in 2026 and beyond, with requested shipments beginning in Q1 fiscal 2027.
  • Memory and photonics: WLBI benchmark with a global flash leader demonstrated FOX-XP as a competitive alternative to traditional packaged-part test; proposals extended to High Bandwidth Flash (HBF). In silicon photonics, a lead customer has firmed up a production ramp early in next fiscal year; another large customer finalized a forecast for data center devices with a roadmap to optical I/O.


For the second half of fiscal 2026 (November 29, 2025–May 29, 2026), Aehr expects revenue of $25 million to $30 million and non-GAAP net loss per diluted share between $(0.09) and $(0.05). The company reiterated that diversification beyond silicon carbide for EVs—into AI processors, GaN power, data storage, silicon photonics and flash memory—expands its addressable market and supports long-term growth and profitability.

Original – Aehr Test Systems