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FREMONT, CA - Aehr Test Systems, a global provider of semiconductor test and burn-in equipment, has announced the completion of its first FOX-XP™ wafer level burn-in system shipment to a customer in the artificial intelligence (AI) sector. The shipment, which includes the company’s high-power FOX-XP system and several proprietary WaferPak™ Contactors, is designed for the production wafer level test and burn-in of advanced AI processors. With a market capitalization of $288 million and a healthy current ratio of 7.55, InvestingPro data shows Aehr maintains a strong financial position with more cash than debt on its balance sheet.
The delivery of this system, which took place within Aehr’s fiscal third quarter, represents a significant milestone for the company as it enters a new market segment. According to Gayn Erickson, President and CEO of Aehr Test Systems, the FOX-XP system can test nine wafers in parallel, offering a scalable and cost-effective solution for AI processor testing at wafer level.
This technology aims to reduce manufacturing costs and improve yield by identifying and eliminating early life failures during wafer production. It also provides an alternative to more expensive system-level burn-in processes. The FOX-XP system offers precise thermal control and can deliver thousands of watts of power per wafer, enabling the testing and monitoring of device functionality at temperatures up to 150 degrees Celsius. According to InvestingPro analysis, Aehr generated revenues of $50.7 million in the last twelve months, with a robust gross profit margin of 47.5%. For deeper insights into Aehr’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
Aehr’s FOX-XP and FOX-NP systems, which come with multiple configurations including WaferPak Contactors for full wafer testing or DiePak™ Carriers for singulated die/module testing, support a range of devices. These include AI processors, power semiconductors, silicon photonics, sensors, flash memories, and other advanced integrated circuits.
The company’s portfolio also includes the Sonoma system for package part burn-in, which is already being shipped to various manufacturers globally. Aehr Test Systems is now uniquely positioned as the sole provider of both wafer level and package level turnkey test and burn-in solutions for the AI processor market.
This announcement is based on a press release statement by Aehr Test Systems. The company, headquartered in Fremont, California, has installed thousands of systems worldwide and continues to innovate in the semiconductor test space. Its products are used to increase the quality, reliability, safety, and security of semiconductors across various applications, including electric vehicles, renewable energy, computing, telecommunications, and solid-state storage. Trading near its 52-week low of $9.69 compared to its high of $21.44, InvestingPro analysis suggests the stock is currently undervalued, with 14 additional ProTips available to subscribers regarding the company’s financial health and market position.
In other recent news, Aehr Test Systems reported its second quarter fiscal 2025 earnings, which fell short of analyst expectations. The company posted an adjusted earnings per share of $0.02, missing the consensus estimate of $0.03. Revenue for the quarter was $13.5 million, below the expected $15 million and down 37% from the previous year’s $21.4 million. Despite this, Aehr Test Systems maintained its full-year revenue guidance of at least $70 million, slightly below the analyst consensus of $70.84 million. The company has made strides in expanding its market reach, securing its first AI processor customer for wafer level burn-in and its first GaN customer for high-volume production. Aehr’s backlog was reported at $12.4 million as of late November, with an effective backlog of $26.6 million including recent bookings. The company ended the quarter with $35.2 million in cash and equivalents, a decrease from the previous quarter’s $40.8 million. Analyst Jed Dorsheimer from William Blair reiterated a Market Perform rating, indicating potential risks related to revenue recognition and new customer ramp-ups.
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