- Aehr Test Systems (AEHR, Financial) reported Q4 2025 net revenue of $14.1 million, a drop from $16.6 million year-over-year.
- Full-year revenue was $59.0 million, down from $66.2 million in fiscal 2024, with a GAAP net loss of $(3.9) million.
- The company is diversifying into AI processors, gallium nitride semiconductors, and silicon photonics markets.
Aehr Test Systems (AEHR) confronted a challenging fiscal 2025, highlighted by reduced revenues and strategic diversification efforts. The company's Q4 net revenue stood at $14.1 million, marking a decline from $16.6 million the previous year, and contributing to an overall annual revenue of $59.0 million, down from $66.2 million in fiscal 2024. This period culminated in a GAAP net loss of $(2.9) million for Q4 and $(3.9) million for the full year, a stark contrast to the profit margins of the previous fiscal year.
Despite these setbacks, Aehr has strategically broadened its market horizons beyond silicon carbide by venturing into new domains such as artificial intelligence (AI) processors, gallium nitride (GaN) power semiconductors, data storage solutions, and silicon photonics. Key milestones include the launch of their production wafer level burn-in (WLBI) system for AI processors, which has attracted interest from major processor companies, and securing a significant partnership following the acquisition of Incal Technology.
While facing challenges like tariff-related uncertainties causing order delays, Aehr expects to see growth in orders across most segments for fiscal 2026, albeit with an exception in silicon carbide where stronger growth is anticipated in fiscal 2027. The company ended the fiscal year with a cash reserve of $26.5 million and a backlog of $16.3 million, indicating a need to convert diversification initiatives into tangible revenue streams to counterbalance the financial downturn.
In summary, Aehr's diversification strategy positions the company to capture emerging opportunities in high-growth technology areas, despite ongoing financial pressures and market fluctuations.
