Aehr Test Systems (NASDAQ:AEHR) announced a record $41 million follow‑on production order from its lead hyperscale AI customer for package‑level burn‑in (PLBI) of custom AI processor ASICs. The order will support high‑volume production burn‑in of the chips used in data‑center training and inference AI workloads, and deliveries are expected to begin in fiscal 2027, starting June 27 2026.
The contract expands Aehr’s presence in the rapidly growing AI testing market, where its proprietary wafer‑level burn‑in technology is positioned to capture a share of an $8‑15 billion opportunity. The order signals strong demand from a key customer that already accounts for a significant portion of the company’s AI revenue mix, reinforcing Aehr’s transition from a silicon‑carbide‑centric business to a diversified AI‑focused platform.
"This $41 million follow‑on order from our lead hyperscale package‑level burn‑in customer brings our bookings in the second half of our fiscal year to more than $92 million to date," said President and CEO Gayn Erickson. The new order pushes second‑half 2026 bookings well above the company’s guidance of $25‑$30 million, and it sets the stage for a revenue ramp in FY2027 by converting AI benchmark forecasts into tangible purchase orders.
In Q3 FY2026, Aehr reported net revenue of $10.3 million and a net loss of $3.2 million, with bookings of $37.2 million. Revenue missed analyst estimates of $10.85 million, but the non‑GAAP loss per share of $0.05 was better than the expected $0.07. Management highlighted strong momentum, noting a book‑to‑bill ratio exceeding 3.5× and more than $37 million in quarterly bookings.
The shift toward lower‑margin PLBI products has compressed the company’s non‑GAAP gross margin to 36.5% from 39.2% in the prior year, but the record order demonstrates Aehr’s ability to secure high‑volume contracts in a competitive market. Management acknowledges headwinds such as supply‑chain constraints and competition, yet remains confident in execution and cash runway.
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