AEHR TEST SYSTEMS

Aehr Test Systems filed its 10-K for the fiscal year ended May 29, 2026, reporting total net revenues of $50.0 million. While revenues for fiscal 2026 decreased compared to prior years, the company's backlog significantly increased to $80.6 million from $15.2 million in the previous fiscal year. The company continues to focus on test solutions for AI, SiC/GaN power semiconductors, and silicon photonics, and has expanded its manufacturing capacity for Sonoma systems.

Aehr Test Systems reported strong financial results for its fiscal fourth quarter ended May 29, 2026, with net revenue increasing to $18.8 million and a swing to GAAP net income of $1.4 million. The company achieved record quarterly bookings of $60.7 million and an effective backlog of $100.6 million. Based on this momentum, Aehr provided robust fiscal year 2027 revenue guidance of $130 million to $150 million, indicating significant year-over-year growth of 160% to 200%, driven by increasing demand in AI, silicon photonics, and power semiconductors.

Aehr Test Systems announced the full utilization of its previously disclosed at-the-market (ATM) equity offering program. The company completed sales of its common stock, resulting in aggregate gross proceeds of approximately $60.0 million. These shares were offered and sold pursuant to the company's effective registration statement on Form S-3, which had registered up to $100.0 million of securities.

AEHR Test Systems announced on April 8, 2026, that it has entered into an Equity Distribution Agreement with William Blair & Company, L.L.C. and Craig-Hallum Capital Group LLC. This agreement enables the company to offer and sell up to $60,000,000 of its common stock through an at-the-market (ATM) offering. The ATM facility provides AEHR with a flexible mechanism to raise capital as needed, potentially to fund future growth initiatives, working capital, or other general corporate purposes. While such offerings can lead to potential shareholder dilution, they offer a cost-effective and opportunistic way for companies to access public markets.

AEHR TEST SYSTEMS (AEHR) reported a robust financial position as of February 27, 2026, highlighted by a significant increase in cash and cash equivalents. The company's cash position surged by 50.5% to $36.9 million compared to $24.5 million at May 30, 2025. This strong cash generation contributed to an overall increase in total assets, reflecting improved liquidity and financial health. The balance sheet also showed effective working capital management with a decrease in accounts receivable and inventories.

Aehr Test Systems has announced a change in its fiscal year end from the Friday nearest May 31 to the Friday nearest June 30, effective beginning fiscal year 2027. This new fiscal year will commence on June 27, 2026, and conclude on June 25, 2027. As a result of this change, the company will have a 28-day transition period from May 30, 2026, to June 26, 2026, with these results to be reported in the Q1 FY2027 10-Q. Additionally, the company issued a press release on April 7, 2026, announcing its financial results for the third quarter ended February 27, 2026, with full details available in Exhibit 99.1.