Group 1 - Aehr Test Systems' shares fell by 12.1% in December as investors moved away from riskier stocks in the AI sector [1] - The company's traditional market is wafer-level burn-in test solutions for the silicon carbide market, primarily driven by electric vehicle development [2] - Revenue from the electric vehicle sector has declined due to disappointing sales, impacting overall company revenue [4] Group 2 - Aehr is expanding into new markets for WLBI test systems, targeting customers developing AI processors, including a major hyperscaler [3] - Despite growth in AI-related orders, the decline in EV-related revenue has not been offset, leading to a revenue drop from $26.6 million to $20.9 million in the first half of the year [4] - The company reported a non-GAAP loss of $0.4 million in the first six months, raising concerns among investors [4][5] Group 3 - Aehr's backlog increased from $11.8 million to $18.3 million, with expected second-half bookings between $60 million and $80 million, indicating potential for a strong fiscal 2027 [7] - The company is experiencing impressive growth in AI-related orders, suggesting a positive outlook for future revenue [8]

Group 1 - Greenbrier Companies Inc reported earnings of $1.14 per share, exceeding market estimates of $0.87 per share, with quarterly sales of $706.1 million compared to expectations of $626.3 million [1][1][1] - WD-40 Co experienced worse-than-expected first-quarter financial results, leading to a 9.1% decline in shares to $185.00 in after-hours trading [1][1][1] - General Motors Co announced it will incur approximately $7.1 billion in fourth-quarter charges related to electric vehicle impairments and restructuring costs in China, resulting in a 1.5% drop in shares to $83.89 [1][1][1] - Kalvista Pharmaceuticals Inc projected preliminary global net product revenue of $35 million to $49 million for the fourth quarter, causing shares to rise by 14% to $18.04 in after-hours trading [1][1][1] - Aehr Test Systems reported quarterly losses of $0.04 per share, aligning with consensus estimates, but quarterly revenue of $9.88 million fell short of the expected $11.59 million, leading to a 5.3% decrease in shares to $21.50 [1][1][1]

分组1 - The company offers income-focused investment options for those preferring lower-risk firms with consistent dividend payouts, demonstrating a strong track record of outperforming across various market conditions over the past decade [1] - Value Investor's Edge has achieved an annualized return of nearly 40% with a long-only model portfolio return exceeding 23 times over the last ten years, indicating robust performance in energy, shipping, and offshore market research [1] 分组2 - Aehr Test Systems, Inc. is highlighted as a company of interest, with previous coverage indicating ongoing updates for investors [2] - The analyst has a historical focus primarily on technology stocks but has expanded coverage to include the offshore drilling and supply industry, as well as the shipping industry, which encompasses tankers, containers, and dry bulk [3]

Core Insights - Aehr Test Systems reported a non-GAAP net loss of $1.3 million, or $(0.04) per diluted share, compared to a non-GAAP net income of $0.7 million, or $0.02 per diluted share, in the same quarter last year [1] - The company experienced a significant decline in revenue, with second-quarter revenue at $9.9 million, down 27% from $13.5 million year-over-year, primarily due to lower wafer pack shipments [3][6] - Management reinstated guidance for the second half of fiscal 2026, expecting revenue between $25 million and $30 million and non-GAAP loss per share between $(0.09) and $(0.05) [6][9] Financial Performance - Non-GAAP gross margin decreased to 29.8% from 45.3% a year ago, attributed to lower overall volume and an unfavorable revenue mix [2] - Non-GAAP operating expenses were $5.7 million, slightly down from $5.9 million, with lower personnel costs offset by increased R&D spending related to AI initiatives [2] Revenue Breakdown - Contact revenue from wafer packs and burn-in modules was $3.4 million, representing 35% of total revenue, down from $8.6 million or 64% of revenue a year earlier [3] - Bookings for the second quarter were $6.2 million, down from $11.4 million in the first quarter, with an effective backlog of $18.3 million after additional bookings in the first six weeks of the fiscal third quarter [7] Market Engagement and Outlook - The company noted significant progress in wafer-level and package-part burn-in markets, driven by AI and data center infrastructure demand [4] - Aehr expects second-half bookings to be much higher than revenue, targeting between $60 million and $80 million, primarily driven by AI processor demand [6][8] Product Development and Innovations - Aehr reported over $5.5 million in recent orders for Sonoma systems, including a new 2,000W automated Sonoma system [5][15] - The company is engaged in multiple wafer-level burn-in programs across AI processors, flash memory, and silicon photonics, with ongoing benchmark evaluations [10][12][13] Cash Position and Funding - The company ended the quarter with $31.0 million in cash, up from $24.7 million, largely due to proceeds from its at-the-market equity program [19] - Aehr raised $10 million in gross proceeds through the sale of approximately 384,000 shares during the second quarter [20]

Financial Data and Key Metrics Changes - Revenue for Q2 FY2026 was $9.9 million, down 27% from $13.5 million in the prior year period, primarily due to lower shipments of WaferPaks [26][27] - Bookings in Q2 FY2026 were $6.2 million, compared to $11.4 million in Q1 FY2026, with a backlog of $11.8 million at the end of the quarter [25][26] - Non-GAAP gross margin for Q2 was 29.8%, down from 45.3% a year ago, reflecting lower sales volume and a less favorable product mix [27] - Non-GAAP net loss for the quarter was $1.3 million, or negative $0.04 per diluted share, compared to net income of $0.7 million, or $0.02 per diluted share in Q2 FY2025 [28] Business Line Data and Key Metrics Changes - Wafer-level burn-in engagements expanded with significant progress in production installations across AI processors, flash memory, and silicon photonics [5][7] - Packaged part burn-in systems saw increased demand, with over $5.5 million in orders received for Sonoma systems in Q3 FY2026 to date, exceeding total orders for Q2 [17][25] - The company secured key new device wins for the Sonoma system, expected to drive additional capacity at test houses [17][18] Market Data and Key Metrics Changes - The company anticipates bookings in the second half of FY2026 to be between $60 million and $80 million, primarily driven by AI processors [5][23] - The silicon carbide market is expected to contribute minimally to bookings, while silicon photonics and gallium nitride are also expected to play a role [66] - The demand for semiconductor test and burn-in solutions is driven by the growth in AI and data center infrastructure, with a significant emphasis on reliability testing [21][22] Company Strategy and Development Direction - The company is focusing on expanding into key markets such as AI processors, gallium nitride power semiconductors, and silicon photonics, diversifying its customer base and total addressable market [22] - The strategic partnership with ISE Labs aims to deliver advanced wafer-level test and burn-in services for next-generation high-performance computing and AI applications [8] - The company is reinstating financial guidance for FY2026, expecting revenue between $25 million and $30 million for the second half of the fiscal year [23][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook due to increased visibility across multiple end markets and reinstated financial guidance for FY2026 [6][22] - The company noted that the semiconductor industry is experiencing a fundamental shift towards reliability testing, driven by the increasing complexity of next-generation devices [21] - Management highlighted the potential for substantial revenue growth in FY2027, driven by strong bookings and demand for AI-related products [5][23] Other Important Information - The company ended Q2 FY2026 with $31 million in cash, up from $24.7 million at the end of Q1, primarily due to proceeds from an equity program [29] - The company is participating in several investor conferences to enhance investor relations and visibility [30] Q&A Session Summary Question: What is the potential booking strength of $60-$80 million in the second half of this fiscal year? - Management indicated that the bulk of bookings would come from wafer-level and package part burn-in for AI processors, with minimal contributions from silicon carbide [34] Question: Can the AI processor business expand meaningfully in the coming years? - Management believes the AI business could be measured in hundreds of millions of dollars in a few years, with significant demand for wafer-level burn-in systems [36] Question: What is the expected capacity for manufacturing wafer-level systems? - Management stated that they could potentially manufacture over 20 systems a month if required, indicating strong production capabilities [41] Question: Is there a potential for cannibalization between package and wafer-level burn-in? - Management acknowledged that while there may be some cannibalization, both package and wafer-level burn-in will coexist for a long time, with customers evaluating both options [60][79]

Financial Data and Key Metrics Changes - Revenue for Q2 2026 was $9.9 million, down 27% from $13.5 million in the prior year period, primarily due to lower shipments of wafer packs [26][27] - Non-GAAP gross margin for Q2 was 29.8%, compared to 45.3% a year ago, reflecting lower sales volume and a less favorable product mix [27] - Non-GAAP net loss for the quarter was $1.3 million, or negative $0.04 per diluted share, compared to net income of $0.7 million, or $0.02 per diluted share in Q2 2025 [28] Business Line Data and Key Metrics Changes - Wafer-level burn-in engagements expanded with significant progress in production installations across AI processors, flash memory, and silicon photonics [5][7] - Package-part burn-in systems saw increased demand, with orders totaling more than $5.5 million in the fiscal third quarter to date, exceeding total orders for the entire second quarter [17][18] - Contact revenues, including wafer packs and burn-in systems, totaled $3.4 million, representing 35% of total revenue, down from 64% in the prior year [27] Market Data and Key Metrics Changes - The company expects bookings in the second half of fiscal 2026 to be between $60 million and $80 million, primarily driven by AI processors [5][23] - Increased visibility across multiple end markets, including AI, silicon photonics, and gallium nitride, is expected to drive significant revenue growth in fiscal 2027 [6][22] - The semiconductor market is experiencing a shift towards reliability testing, with growing demand for advanced wafer-level and package-level burn-in systems [21] Company Strategy and Development Direction - The company is focusing on expanding into key markets such as AI processors, gallium nitride power semiconductors, and silicon photonics, diversifying its customer base and total addressable market [22] - A strategic partnership with ISE Labs was announced to deliver advanced wafer-level test and burn-in services for next-generation high-performance computing and AI applications [7][8] - The company is reinstating financial guidance for fiscal 2026, expecting revenue between $25 million and $30 million for the second half of the fiscal year [23][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook due to increased visibility across multiple end markets and the expected strong bookings for AI-related products [6][22] - The company is taking a conservative approach to estimating the size of the AI market but acknowledges the potential for significant revenue growth in the coming years [36][39] - Management highlighted the importance of reliability testing in the semiconductor industry, driven by the increasing performance and safety requirements of devices [21] Other Important Information - The company ended the quarter with $31 million in cash, up from $24.7 million at the end of Q1, primarily due to proceeds from an equity program [29] - The company has received additional bookings of $6.5 million in the first six weeks of Q3, increasing effective backlog to $18.3 million [25][29] Q&A Session Summary Question: Is the potential booking strength of $60-$80 million in the second half of the fiscal year almost entirely on the AI accelerator processor line? - Management confirmed that the bulk of the bookings is across wafer-level and package-part burn-in for AI processors, with some contributions from silicon carbide and silicon photonics [34] Question: Do you see the AI business expanding meaningfully in the multi-year timeframe including 2027 and 2028? - Management believes the AI business could be measured in hundreds of millions of dollars in a few years, with significant demand for wafer-level burn-in systems [36] Question: What is the anticipated capacity for manufacturing wafer-level systems? - Management indicated that they could potentially manufacture over 20 systems a month if needed, exceeding current forecasts [41] Question: Is the delay in wafer-level benchmarks due to customer changes or new parameters? - Management acknowledged that the delay was partly due to misunderstandings regarding wafer-level testing requirements, but they remain optimistic about progress [50][51] Question: Will customers initially use package-part burn-in and then switch to wafer-level burn-in? - Management indicated that while some customers may start with package-part burn-in, they are likely to transition to wafer-level burn-in as it proves more efficient [80]

Financial Data and Key Metrics Changes - Revenue for Q2 FY2026 was $9.9 million, down 27% from $13.5 million in the prior year period, primarily due to lower shipments of wafer packs [24] - Non-GAAP gross margin for Q2 was 29.8%, compared to 45.3% a year ago, reflecting lower sales volume and a less favorable product mix [25] - Non-GAAP net loss for the quarter was $1.3 million, or negative $0.04 per diluted share, compared to net income of $0.7 million, or $0.02 per diluted share in Q2 FY2025 [26] - Cash position improved to $31 million at the end of the quarter, up from $24.7 million at the end of Q1 [27] Business Line Data and Key Metrics Changes - Wafer-level burn-in engagements expanded with significant progress in production installations across AI processors, flash memory, and silicon photonics [5][6] - Package-part burn-in systems saw increased demand, with orders totaling more than $5.5 million in the fiscal third quarter to date, exceeding total orders for the entire second quarter [17] - Contact revenues, which include wafer packs and burn-in systems, totaled $3.4 million, representing 35% of total revenue, down from 64% in the same quarter last year [25] Market Data and Key Metrics Changes - The semiconductor test and burn-in market is experiencing growth driven by AI and data center infrastructure, with bookings expected to be between $60 million and $80 million in the second half of FY2026 [5][23] - The company is seeing strong demand for its Sonoma systems, particularly for high-temperature operating life qualifications for AI devices [17][19] - The silicon carbide market is expected to see demand growth, although the company is taking a conservative stance on order expectations [15] Company Strategy and Development Direction - The company is focusing on expanding into key markets such as AI processors, gallium nitride power semiconductors, and silicon photonics, diversifying its customer base and total addressable market [22] - A strategic partnership with ISE Labs was announced to enhance wafer-level test and burn-in services for next-generation high-performance computing and AI applications [8] - The company is reinstating financial guidance for FY2026, expecting revenue between $25 million and $30 million for the second half of the fiscal year [23][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the outlook due to increased visibility across multiple end markets and the reinstatement of financial guidance [6][22] - The company highlighted the importance of reliability testing in the semiconductor industry, driven by the growing complexity and performance requirements of next-generation devices [21] - Management noted that the demand for AI and data center infrastructure is a significant growth driver for the company [4][20] Other Important Information - The company successfully closed the InCal facility and consolidated operations into its Fremont facility, resulting in cost savings [26] - The company raised $10 million in gross proceeds through an equity offering during the quarter [27] - The company plans to participate in several investor conferences in early 2026 to enhance investor relations [28] Q&A Session Questions and Answers Question: What is the potential booking strength of $60-$80 million in the second half of this fiscal year? - The majority of bookings are expected to come from the AI accelerator processor line, with some contributions from silicon carbide and silicon photonics [30] Question: Can you provide insight into the AI processor market's potential growth? - The company anticipates that the AI business could be measured in hundreds of millions of dollars in a few years, with significant demand for wafer-level burn-in systems [31][32] Question: What is the expected capacity for manufacturing wafer-level systems? - The company discussed the potential to manufacture over 20 systems a month if demand requires it, indicating strong production capabilities [36] Question: Will customers transition from package-part burn-in to wafer-level burn-in? - Customers may initially use package-part burn-in and later transition to wafer-level burn-in as they become more comfortable with the technology [50][51]

Financial Performance - Net revenue for Q2 fiscal 2026 was $9.9 million, down 26.67% from $13.5 million in Q2 fiscal 2025[7] - GAAP net loss for Q2 fiscal 2026 was $(3.2) million, or $(0.11) per diluted share, compared to a loss of $(1.0) million, or $(0.03) per diluted share in Q2 fiscal 2025[7] - Non-GAAP net loss for Q2 fiscal 2026 was $(1.3) million, or $(0.04) per diluted share, compared to non-GAAP net income of $0.7 million, or $0.02 per diluted share in Q2 fiscal 2025[7] - Revenue for the three months ended November 28, 2025, was $9,884,000, a decrease of 9.9% compared to $10,969,000 for the same period in 2024[25] - Gross profit for the three months ended November 28, 2025, was $2,545,000, down 31.5% from $3,719,000 in the prior year[25] - Net loss for the three months ended November 28, 2025, was $3,230,000, compared to a net loss of $2,084,000 for the same period in 2024, representing a 55% increase in losses[25] - Non-GAAP gross profit for the three months ended November 28, 2025, was $2,950,000, compared to $4,115,000 in the same period of 2024, a decline of 28.3%[28] - Non-GAAP income (loss) from operations for the three months ended November 28, 2025, was $(2,724,000), compared to $(1,834,000) in the prior year, indicating a worsening of 48.6%[28] - The company reported a GAAP loss before income tax benefit of $4,444,000 for the three months ended November 28, 2025, compared to a loss of $2,836,000 in the same period of 2024, an increase of 56.9%[28] - Basic net loss per share for the three months ended November 28, 2025, was $(0.11), compared to $(0.07) for the same period in 2024[25] Cash and Assets - Total cash and cash equivalents as of November 28, 2025, were $31.0 million, an increase from $24.7 million at August 29, 2025[7] - Total current assets increased slightly to $88,189,000 from $88,778,000, with cash and cash equivalents rising to $30,835,000 from $24,529,000[32] - Cash, cash equivalents, and restricted cash at the end of the period totaled $30,985,000, up from $35,168,000[34] - Net cash used in operating activities was $1,453,000, an improvement from $3,493,000 in the prior year[34] - Cash flows from financing activities provided $9,619,000, significantly higher than $488,000 in the previous year, driven by stock issuance[34] - The company reported a decrease in accounts payable to $3,548,000 from $6,728,000, indicating improved cash management[32] Expenses and Liabilities - Research and development expenses increased to $2,972,000 for the three months ended November 28, 2025, compared to $2,849,000 in the same period of 2024, reflecting a rise of 4.3%[25] - Total operating expenses for the three months ended November 28, 2025, were $7,193,000, a decrease of 7.6% from $7,785,000 in the same period of 2024[25] - Stock-based compensation expense rose to $3,512,000 from $1,945,000, indicating increased investment in employee incentives[34] - Total liabilities decreased to $17,958,000 from $25,637,000, primarily due to a reduction in current liabilities[32] Business Developments - Bookings for Q2 fiscal 2026 were $6.2 million, with a backlog of $11.8 million as of November 28, 2025[7] - For the second half of fiscal 2026, revenue is expected to be between $25 million and $30 million, with a non-GAAP net loss per diluted share between $(0.09) and $(0.05)[19] - Significant progress was made in wafer-level burn-in (WLBI) and packaged-part burn-in (PPBI) segments, with expectations of bookings between $60 million and $80 million in the second half of fiscal 2026[6] - A strategic partnership with ISE Labs was announced to enhance wafer-level test and burn-in services for high-performance computing and AI applications[10] - The company completed development of a new custom high-power fine-pitch WaferPak for AI processors, currently in testing with a top-tier supplier[9] - The Sonoma ultra-high-power PPBI systems received orders totaling more than $5.5 million during the fiscal third quarter to date, exceeding total orders for the entire second quarter[11]

Aehr Test Systems (NASDAQ:AEHR) shares fell in Thursday's extended trading after the company released its second-quarter earnings report, missing revenue estimates. Here's a look at the key figures from the quarter. AEHR stock is moving. Watch the price action here.The Details: Aehr Test Systems reported quarterly losses of four cents per share, in line with the consensus estimate.Quarterly revenue of $9.88 million missed the Street estimate of $11.59 million by 14.72% and was down from revenue of $13.45 mi ...

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh. ...