Atlas Research Note

Aehr Fiscal Q1 2027: Backlog Covers the Year, and a Second AI Customer Buys a Production Cell

Ben Bajarin · November 3, 2026

Creative Strategies earnings read | November 2, 2026 | Aehr Test Systems first-quarter fiscal 2027 results and conference call, November 2, 2026 (quarter ended September 25, 2026) Aehr grew revenue 200% from a year ago to a record $33.0 million, booked $46.7 million, raised its fiscal 2027 outlook to $150 million from a range of $130 million to $150 million, and said a large supplier of AI accelerators, CPUs and network processors will put a full wafer-level burn-in test cell into production evaluation at its Taiwan assembly and test partner early in calendar 2027. Operating view: The quarter was strong on every line we track. Revenue rose 75% from the fourth quarter, non-GAAP gross margin moved up 11 points from a year ago to 48.5%, and contactor and module revenue, the consumables that follow the installed base, more than quintupled to $13.5 million.

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Notes

Aehr Fiscal Q1 2027: Backlog Covers the Year, and a Second AI Customer Buys a Production Cell

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