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Feb 28, 2025
Aehr Q3 2025 Earnings Report
Aehr reported Q3 2025 results with strong revenue growth and a return to non-GAAP profitability despite a small GAAP net loss.
Key Takeaways
Aehr Test Systems delivered strong Q3 revenue growth driven by diversification into AI processors and GaN markets. Despite a GAAP net loss, the company posted solid non-GAAP profitability and grew its backlog significantly.
Revenue rose to $18.3M from $7.6M in Q3 2024, more than doubling year-over-year.
Non-GAAP EPS reached $0.07, showing strong profitability after adjustments.
Backlog increased to $21.8M, including post-quarter bookings.
The company expanded into AI processor and GaN testing markets, reducing dependence on SiC.
Forward Guidance
Aehr withdrew its fiscal 2025 guidance due to tariff-related uncertainties but expressed confidence in long-term growth prospects driven by AI, GaN, and diversified semiconductor demand.
Positive Outlook
- Strong customer demand for AI processor testing equipment
- Significant growth in non-SiC revenue segments
- Positive outlook for silicon carbide in EVs and infrastructure
- Successful product launch of 18-wafer high-voltage system
- New customer wins across multiple verticals including data storage and photonics
Challenges Ahead
- Temporary withdrawal of fiscal 2025 guidance
- Tariff uncertainty may affect customer behavior
- GAAP net loss despite higher revenue
- Cash position declined from prior quarter
Historical Earnings Impact
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Avg. Return Before/After Earnings
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