AEHR Test Systems – Q3 Bookings Reach $37.2M, Revenue Falls, Shares Drop 11.43%

By Chris Stiles • Wednesday, April 08 07:45 • Permanent Link

Aehr Test Systems reported third-quarter fiscal 2026 bookings of $37.2 million, more than 3.5 times revenue, as demand from AI and data center customers accelerated. The company said backlog stood at $38.7 million at Feb. 27, 2026, and that effective backlog, including bookings since then, reached $50.9 million.

Revenue in the quarter fell to $10.3 million from $18.3 million a year earlier. GAAP net loss widened to $3.2 million, or 10 cents a share, from a loss of $600,000, or 2 cents a share, in the same quarter last year. On a non-GAAP basis, the company posted a loss of $1.5 million, or 5 cents a share, versus income of $2.0 million, or 7 cents a share, a year ago.

Cash, cash equivalents and restricted cash rose to $37.1 million from $31.0 million at the end of the prior quarter. Operating cash use in the first nine months of fiscal 2026 was $5.1 million.

For the first nine months, revenue declined to $31.2 million from $44.9 million in the year-earlier period. GAAP net loss increased to $8.5 million, or 28 cents a share, from $1.0 million, or 3 cents a share. Non-GAAP net loss was $2.6 million, or 9 cents a share, compared with non-GAAP income of $4.8 million, or 16 cents a share, in the first nine months of fiscal 2025.

The company said it expects second-half fiscal 2026 revenue of $25 million to $30 million and reiterated its second-half non-GAAP loss per share outlook of 5 cents to 9 cents. It also said it now expects second-half bookings to land at the high end of its prior $60 million to $80 million range.

Management said the quarter included production orders for multiple new fully automated Fox-XP wafer-level burn-in systems for AI processors, a new customer win in silicon photonics, and a production win for Sonoma systems for next-generation AI accelerators. The company also said it expects to begin shipping Sonoma systems this quarter from a newly upgraded contract manufacturing facility with capacity for more than 20 additional systems per month. Following these announcements, the company's shares moved -11.43%, and are now trading at a price of $34.57. If you want to know more, read the company's complete 8-K report here.

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