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Feb 28, 2023
Aehr Q3 2023 Earnings Report
Aehr reported record quarterly bookings driven by demand for wafer level test and burn-in of semiconductors for electric vehicles, with revenue and net income ahead of consensus estimates.
Key Takeaways
Aehr Test Systems reported a strong third quarter with record bookings of $33.3 million and a backlog of $31.6 million. The company's momentum in silicon carbide wafer level burn-in continues to grow, with significant orders from major silicon carbide semiconductor customers.
Aehr achieved record bookings of $33.3 million in the third quarter.
The company has a strong backlog of $31.6 million, with an effective backlog of $41 million including orders received since the end of the third quarter.
Aehr's momentum in silicon carbide wafer level burn-in is growing, with repeat orders from major customers.
The company is engaged with several gallium nitride semiconductor suppliers and received a commitment for a full wafer level evaluation.
Aehr
Aehr
Forward Guidance
Aehr is reiterating its previously provided guidance for total revenue to be at least $60 million to $70 million for the fiscal year ending May 31, 2023, representing growth of at least 18% to 38% year over year with strong profit margins similar to last fiscal year. Aehr also continues to expect bookings to grow faster than revenues in fiscal 2023 as the ramp in demand for silicon carbide in electric vehicles increases exponentially throughout the decade.
Positive Outlook
- Total revenue is expected to be at least $60 million to $70 million for the fiscal year ending May 31, 2023.
- Revenue growth of at least 18% to 38% year over year is anticipated.
- Strong profit margins similar to last fiscal year are expected.
- Bookings are expected to grow faster than revenues in fiscal 2023.
- Demand for silicon carbide in electric vehicles is expected to increase exponentially throughout the decade.