AEHR — Aehr Test Systems · catalysts, narrative & risks

Recent catalysts (July–October 2026)

Q4 FY2026 earnings release (reported July 14, 2026) — This is the most material recent catalyst. Despite a weaker full year, the quarter showed a sharp inflection:

• Q4 FY2026 revenue of $18.8 million, +34% year-over-year, and a return to profitability (non-GAAP net income of $3.6 million / $0.11 per share, vs. a $0.2 million loss a year earlier; non-GAAP gross margin of 45%) [1].
• Record Q4 bookings of $60.7 million (up more than 500% year-over-year) and a backlog of $80.6 million at quarter-end (effective backlog ~$100.6 million post quarter-end) [1], [17].
• A very strong forward guide: FY2027 revenue of $130–$150 million (roughly 160%–200% growth) and 18%–22% pre-tax non-GAAP net-income margin, plus $116.5 million in cash [1].