AEHR
AEHR
Aehr makes machines that put semiconductors under intense conditions, testing them for defects. As data center operators look to increase performance by weeding out faulty chips, Aehr has been gaining considerable order momentum.In Q4 of its fiscal year 2026 (FY2026), Aehr posted revenue of $18.84 million. (Note that Aehr’s fiscal reporting period is several quarters ahead of the calendar year period.) This resulted in growth of 33.7% year-over-year (YOY).Notably, this marks the first time in over a year that Aehr’s quarterly revenue growth was positive, an important inflection for its business. However, analysts expected this performance, with Aehr just slightly beating estimates of $18.69 million.Alongside this, Aehr crushed estimates on earnings per share (EPS). The figure came in at 11 cents, swinging strongly from -1 cent a year ago. Analysts anticipated that EPS would remain unchanged at -1 cents. This came as Aehr greatly outperformed on adjusted gross margin, which soared 1,000 basis points to 45%, driven by higher sales, improved manufacturing capacity utilization, and a higher-margin product mix.Despite Aehr’s impressive quarter, full FY2026 revenue declined 15% YOY to $50 million. Aehr’s business has been transitioning from an overwhelming focus on EV markets to one overwhelmingly focused on non-EV markets, including AI.