Key Highlights

  • Shares rose 13.39% pre-market to $58.36 from a $51.47 close.
  • Record fiscal Q1 Revenue of $33.0 million rose 200% year over year.
  • Fiscal 2027 revenue outlook was raised to $150 million.

Aehr Test Systems (NASDAQ:AEHR) shares rose 13.39% in pre-market trading on Tuesday to $58.36, from a Monday close of $51.47. The stock fell 6.23% in the regular session before the report.

Aehr is a Fremont, California maker of test and burn-in systems that screen semiconductors for early-life failures. It has about 138 employees.

Bookings and Backlog Support the Raised Outlook

Fiscal first quarter revenue was a record $33.0 million, up 200% year over year and 75% sequentially, above an estimate near $26.8 million. Non-GAAP EPS was $0.28 against about $0.11 expected, and non-GAAP gross Margin was 48.5%.

Bookings were $46.7 million, a book-to-bill of 1.4, and effective backlog was $109.3 million as of Nov. 1. Cash ended at $105.1 million with no debt.

The fiscal 2027 revenue outlook was raised to $150 million from a prior range of $130 million to $150 million. Management expects revenue to rise each quarter, with the second quarter strong on Sonoma deliveries.

AI Accelerator Order and Package-Level Burn-In Shipments

A major AI accelerator, CPU and network processor supplier is buying a full wafer-level burn-in cell for a Taiwan outsourced test provider, with installation expected in early calendar 2027. Sonoma package-level systems are shipping at more than a dozen per month to the lead hyperscale customer.

Valuation After a Volatile Stretch

At $58.36, the shares sit about 60% below the 52-week high of $147.40 and about 212% above the 52-week low of $18.70. Market Capitalization is about $1.68 billion, with a forward price-to-earnings ratio of 67.37.

Sonoma Deliveries and AI Order Timing to Follow

Full-year gross margin is guided near 48.5%, with the second quarter likely lower on Sonoma mix. Investors will watch order timing from the Taiwan customer and Sonoma delivery cadence.