The earnings call reflected a mixed outlook. While there were notable achievements, such as the acquisition of Incal Technology, strong WaferPak sales, and potential growth in the silicon carbide and AI processor markets, there were also challenges, including a significant revenue decline and decreased cash reserves. The company's dependence on WaferPak sales remains a potential risk.

Company Guidance

During the Aehr Test Systems Q1 2025 earnings call, the company provided guidance for the fiscal year ending May 30, 2025, reaffirming its expectation of total revenue of at least $70 million and a net profit before taxes of at least 10% of revenue. The company highlighted strong demand for its WaferPak products, which accounted for 92% of Q1 revenue, totaling $12.1 million. Aehr also discussed its strategic expansion into various semiconductor markets, including silicon carbide, gallium nitride, and artificial intelligence processors. The integration of its recent acquisition, Incal Technology, was emphasized as a key component to expanding its product offerings in high-power semiconductor test solutions. Additionally, Aehr expressed optimism about gaining new silicon carbide customers and voiced confidence in the growing demand for its wafer-level burn-in and test systems across multiple sectors, underscoring a robust outlook for the upcoming quarters.

Silicon Carbide Market Growth

Significant growth potential in the silicon carbide market, with expectations to add several new customers this year. Customers are forecasting capacity expansion needs in calendar 2025, with increased demand for wafer-level burn-in.

Incal Technology Acquisition

Successful acquisition of Incal Technology, expanding Aehr's product portfolio and market opportunities in AI semiconductors. Positive customer feedback and increased forecast for engineering qualifications and volume production.

Strong WaferPak Sales

WaferPak sales generated over $12 million in revenue in Q1, representing 92% of total revenue, up from 55% in the prior year's first quarter. Demonstrates strong recurring revenue stream and customer adoption.

AI Processor Market Opportunity

Significant opportunity in AI processor market with an evaluation far along with an AI accelerator company. Potential for this customer to be more than a 10% contributor to revenue in this fiscal year.

High Gross Margin

Non-GAAP gross margin for Q1 was 54.7%, up from 48.7% year-over-year, primarily due to favorable product mix of higher-margin WaferPaks.

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Aehr Test Systems (AEHR) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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AEHR Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 09, 2025	2025 (Q2)	0.03 / -	0.23	―	―	―
Oct 10, 2024	2025 (Q1)	0.02 / 0.07	0.18	-61.11% (-0.11)	―
Jul 16, 2024	2024 (Q4)	0.10 / 0.47	0.23	104.35% (+0.24)	―
Apr 09, 2024	2024 (Q3)	-0.03 / -0.03	0.16	-118.75% (-0.19)	―
Jan 09, 2024	2024 (Q2)	0.21 / 0.23	0.16	43.75% (+0.07)	―
Oct 05, 2023	2024 (Q1)	0.16 / 0.18	0.05	260.00% (+0.13)	―
Jul 13, 2023	2023 (Q4)	0.21 / 0.23	0.23	0.00% (0.00)	―
Mar 30, 2023	2023 (Q3)	0.14 / 0.16	0.14	14.29% (+0.02)	―
Jan 05, 2023	2023 (Q2)	0.09 / 0.16	0.05	220.00% (+0.11)	―
Oct 06, 2022	2023 (Q1)	0.01 / 0.05	-0.02	350.00% (+0.07)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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AEHR Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 10, 2024	$13.32	$16.02	+20.27%
Jul 16, 2024	$16.84	$20.61	+22.39%
Apr 09, 2024	$11.78	$11.53	-2.12%
Jan 09, 2024	$22.35	$18.59	-16.82%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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