Aehr Test System · Q4 2023 earnings

Briefing

Aehr reported record revenue and profit for fiscal year 2023, guiding for over 50% increase in revenue for fiscal year 2024.

Aehr Test Systems reported record financial performance for both the quarter and the entire fiscal year ended May 31, 2023. Total revenue grew 28% to a record $65.0 million, and GAAP profit reached $14.6 million.

• Net sales were a record $22.3 million, up from $20.3 million in the fourth quarter of fiscal 2022.
• GAAP net income was a record $6.1 million, up from GAAP net income of $5.8 million in the fourth quarter of fiscal 2022.
• Non-GAAP net income was a record $6.8 million, compared to non-GAAP net income of $6.5 million in the fourth quarter of fiscal 2022.
• Backlog as of May 31, 2023, was $24.5 million. Effective backlog, which includes all orders received since the end of the fourth quarter, is $39.7 million.

Headline financials

Revenue & EPS history

For the fiscal year ending May 31, 2024, Aehr expects total revenue to be at least $100 million, representing growth of over 50% year over year, and GAAP net income of at least $28 million, representing earnings growth of greater than 90% year over year.