24/7 Market News- Aehr Test Systems Reports Fiscal 2025 Q1 Financial Results and Full-Year Guidance

October 11, 2024

DENVER, Colo., Oct 11, 2024 (247marketnews.com)- Aehr Test Systems (NASDAQ: AEHR) reported its first quarter financial results for fiscal 2025, which ended August 30, 2024.

Although its fiscal first quarter 2025 financial results were down across the board, compared to its fiscal first quarter 2024 results, including net revenue of $13.1 million, compared to $20.6 million for the same period of 2024, Gayn Erickson’s, Aehr’s President and CEO, comments were upbeat, with highlights including;

  • We finished the first quarter with revenue and non-GAAP net income ahead of consensus estimates and are off to a good start to our fiscal year. Silicon carbide wafer level burn-in test systems and full wafer contactors are poised to be key contributors to revenue again this year. We are also forecasting material bookings and revenue contributions from several other markets this fiscal year, as we are successfully executing on our strategy to expand our test and burn-in products into other large and fast-growing markets such as artificial intelligence processors, gallium nitride power semiconductors, hard disk drive components and flash memory devices.
  • Stabilization and increasingly positive discussions within the silicon carbide power semiconductor market over the past quarter. Electric vehicle (EV) suppliers are clearly moving towards silicon carbide in integrated modules, combining silicon carbide MOSFETs into single packages to meet the industry’s power, efficiency, and cost-effectiveness demands.
  • Our silicon carbide customers are forecasting capacity expansion needs in calendar 2025, with several anticipating purchases of one or two systems in early 2025, followed by production volumes in the second half of the year, and ramping further into 2026.
  • Continue to see strong demand for our FOX WaferPak full wafer Contactors for silicon carbide, driven by a record number of new device designs started this past quarter. These designs are expected to lead to additional WaferPak purchases for engineering qualification as well to volume production orders as they advance to production. We had another solid quarter for WaferPak sales, generating over $12 million in revenue from WaferPaks in the first quarter.
  • Steady progress on our previously announced benchmarks and engagements with new silicon carbide device and module suppliers. We are confident that we will add several new silicon carbide customers this year, establishing our solution as their tool of record for volume production. Additionally, silicon carbide is gaining traction in applications beyond electric vehicles, such as solar, industrial, and data centers, which will expand our addressable markets.
  • We are now in negotiations with our first gallium nitride (GaN) semiconductor customer for volume production wafer level test and burn-in of their devices. This past year, this customer purchased a significant number of WaferPaks to successfully qualify a wide range of GaN device types aimed at multiple markets, including consumer, industrial, and automotive. In addition, we have had increased discussions and engagements with multiple potential new GaN suppliers. We believe GaN is a significant up and coming technology for power semiconductors. With a forecasted CAGR of more than 40% to over $2 billion in GaN devices sold annually by 2029, it has the potential to be a significant market opportunity for Aehr’s wafer level solutions.
  • With all of these customer engagements, market opportunities, and the products to address them, we are very optimistic about the year ahead, and we are reaffirming our financial guidance for revenue growth and profitability for the year.

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