Aehr Test Systems reported fiscal fourth-quarter revenue of $18.8 million, up from $14.1 million a year earlier. The company swung to a GAAP profit of $1.4 million, or $0.04 a share, from a GAAP loss of $2.9 million, or $0.10 a share, in the prior-year quarter.
Non-GAAP net income rose to $3.6 million, or $0.11 a share, from a non-GAAP loss of $0.2 million, or $0.01 a share. Bookings hit a quarterly record of $60.7 million, while backlog at May 29 was $80.6 million. Including bookings received since then, effective backlog reached $100.6 million. Cash, cash equivalents and restricted cash climbed to $116.5 million from $37.1 million at the end of the prior quarter.
For the full fiscal year, revenue fell to $50.0 million from $59.0 million. The company posted a GAAP net loss of $7.1 million, compared with a loss of $3.9 million a year earlier. Non-GAAP net income dropped to $0.9 million from $4.6 million. Cash used in operating activities was $3.3 million for the year.
Looking ahead, Aehr projected fiscal 2027 revenue of $130 million to $150 million, versus $50.0 million in fiscal 2026. That implies growth of about 160% to 200%. Management said the forecast is supported by the $100.6 million effective backlog and expected demand from existing production programs. As a result of these announcements, the company's shares have moved 21.64% on the market, and are now trading at a price of $87.59. For more information, read the company's full 8-K submission here.
