Aehr Test Systems
ConvictionSpeculative
Capital-equipment sales (FOX wafer-level and Sonoma package-level burn-in systems) plus recurring, higher-margin consumables (WaferPak/DiePak contactors); lumpy, order-driven, high customer concentration
Revenue
$45.3M TTM$59.0M FY2025 (ended 2025-05-30Rev growth
TTM -26.4% YoYFY2025 -10.9% (from $66.2M FY2024); Q3 FY2026 -43.7% YoY ($10.3MGross margin
non-GAAP 36.5% Q3 FY2026down from 42.7% YoY); FY2024 GAAP ~49%, FY2025 GAAP ~41% in stronger-mix periodsOp margin
negativeGAAP net loss; TTM net income ~-$11.4M, EPS ~-$0.38Capex intensity
lowasset-light equipment assembler; not disclosed precisely but immaterial vs revenueMarket cap
~$2.27BNasdaq: AEHR, ~$72.33/sh close 2026-07-06, ~31.45M sh outThe read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Aehr Test Systems
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence