AEHR Test Systems Posts Record Q4 Bookings, $100M Backlog, and Fiscal 2027 Revenue Outlook of $130M–$150M
AEHR has more than doubled off its 52-week low of $12.93.
Summary
AEHR Test Systems reported fiscal Q4 revenue of $18.8M, record bookings of $60.7M, and an effective backlog of $100.6M. The company guided for fiscal 2027 revenue of $130M–$150M, representing 160%–200% growth, with non-GAAP net income margins of 18%–22%.
Key Events · Earnings and Guidance · AEHR
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Record Bookings and Backlog
Q4 bookings hit a record $60.7 million, driving effective backlog to $100.6 million as of July 14, 2026, and providing substantial revenue visibility.
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Fiscal 2027 Guidance
Revenue is expected to reach $130 million to $150 million, a 160%–200% increase over fiscal 2026, with non-GAAP net income margins of 18% to 22%.
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New Customer Wins
Benchmark testing was completed with a major AI processor supplier who now wants pilot production; $8 million in new SiC WaferPak orders were received; and a new silicon photonics customer forecast was added.
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Strong Balance Sheet
Cash and equivalents stood at $116.5 million as of May 29, 2026, up from $37.1 million in the prior quarter, providing ample runway for growth.
Analysis · AEHR · Industrial Applications And Services
A blowout quarter and outlook fundamentally reset AEHR's growth trajectory. Record quarterly bookings of $60.7 million and an effective backlog of $100.6 million provide concrete visibility into fiscal 2027 revenue guidance of $130 million to $150 million — a 160% to 200% year-over-year jump. The company also guided for non-GAAP net income margins of 18% to 22%, signaling a sharp swing to profitability. New customer wins broaden the revenue base beyond the lead hyperscale customer: a completed benchmark with a major AI processor supplier, plus $8 million in new silicon carbide orders. With $116.5 million in cash and a clean balance sheet, the company is fully funded to execute on this growth. This report directly contradicts the recent narrative of insider selling and ATM dilution, suggesting those actions were prelude to a major inflection.
At the time of this filing, AEHR was trading at $91.75 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $2.3B. The 52-week trading range was $12.93 to $126.62. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.