AEHR TEST SYSTEMS

Aehr Test Systems, Inc.

Business summary

Aehr Test Systems designs, manufactures, markets, and sells test and burn-in (reliability) systems for semiconductor devices. The company’s offerings support wafer-level contact testing and package-level burn-in for wafers, singulated dies, and modules.

Core capabilities

• Full wafer contact testing and burn-in for wafers, singulated dies, and modules.
• Platform-based, modular systems with configurable current/voltage, digital, and thermal capabilities.
• Proprietary WaferPak Contactor and DiePak Carrier for high-density testing and burn-in.
• WaferPak Aligner (automated and manual) for wafer-to-contact alignment.
• DiePak Loader for automatic loading of modules into DiePak Carriers.

Product families and components

• FOX-XP and FOX-NP: full wafer contact test and burn-in systems for wafer, die, and module testing.
• FOX-CP: low-cost single-wafer compact test solution for logic, memory, and photonics; includes an integrated prober and alignment capability.
• WaferPak Contactor: full-wafer contactor enabling 100% wafer testing with a single touchdown.
• DiePak Carrier: multi-module sockets with high-density, adjustable sockets for multiple dies per carrier.
• WaferPak Aligner: automated alignment for high-volume production and integration with AMHS/SECS/GEM.
• DiePak Loader: automated loading of modules into DiePak Carriers.
• Sonoma, Tahoe, Echo: package-level burn-in systems for high, medium, and low power applications, respectively.

Manufacturing and operations

• Final assembly and testing are performed at the Fremont, California facility.
• The company uses subcontractors for many components and subassemblies.
• In 2026, Sonoma package-level capacity increased, with direct shipments to customers and continued integration work with a long-standing subcontractor.
• The FOX-XP/NP/Sonoma product lines support wafer-level testing and burn-in for AI accelerators, GPUs, HPC processors, and other high-power devices.

Markets and applications

• Served markets include AI/inference processors, silicon carbide (SiC) and gallium nitride (GaN) power semiconductors, automotive (sensors and driver systems), EV charging infrastructure, solar and wind power, data centers, silicon photonics for data center infrastructure, 5G, co-packaged optics, 2D/3D sensors, and memory (NAND, DRAM/HBM).
• Primary applications are wafer-level burn-in, full wafer testing, and package-level burn-in to improve yields, reliability, and infant-mortality screening.

Customers and concentration

• Customers include semiconductor manufacturers, contract assemblers, electronics manufacturers, and burn-in/test service companies.
• Customer concentration by fiscal year:
  • Fiscal 2026: five largest customers accounted for approximately 70% of net revenues. Three customers accounted for ~26%, ~14%, and ~11% of net revenues.
  • Fiscal 2025: two customers accounted for ~39% and ~15%.
  • Fiscal 2024: two customers accounted for ~67% and ~17%.
• The company indicates that revenues from major customers can fluctuate quarter-to-quarter and expects sales to a limited number of customers to continue.

Revenue, backlog, and segment data

• Net revenues by product line:
  • Full wafer contact product lines, systems, WaferPak Contactors and related services:
    • 2026: $31.5 million (about 63% of net revenues)
    • 2025: $39.2 million (about 66%)
    • 2024: $64.6 million (about 98%)
  • Package-level product lines, systems and services:
    • 2026: $18.5 million (about 37%)
    • 2025: $19.8 million (about 34%)
    • 2024: $1.6 million (about 2%)
• Total net revenues:
  • 2026: $50.0 million
  • 2025: $59.0 million
  • 2024: $66.2 million
• Backlog (orders to be shipped within 12 months):
  • May 29, 2026: $80.6 million
  • May 30, 2025: $15.2 million
• The business is reported as one operating segment: semiconductor test and burn-in systems.

Employees and geographic footprint

• Regular full-time employees (May 29, 2026): 138
  • Research, development and engineering: 43
  • Manufacturing: 46
  • Marketing, sales and customer support: 34
  • General administration, finance and IT: 15
• Geographic distribution of regular full-time employees:
  • United States: 103
  • Philippines: 28
  • Taiwan: 6
  • Germany: 1
• Additional personnel include contractors and temporary staff. Service and support personnel are located near customer facilities globally.

Intellectual property and governance

• Intellectual property: 125 active patents as of May 29, 2026 (U.S., China, Europe and others) with expiration dates ranging from 2028 to 2045; more than 100 patent applications pending.
• Patents are supplemented by trade secrets and copyrights. The company may face IP claims from third parties; no pending IP infringement claims were noted as of May 29, 2026.
• Governance and ESG:
  • Environmental focus on energy efficiency and reduced test floor space.
  • Social and governance policies include a Code of Conduct, ethics and insider trading policies, and governance committees (Audit; Compensation; Nominating and Governance).
  • The company holds ISO certifications and conducts ongoing compliance and safety training.