Aehr Test Systems
AEHRQ3 2025(AEHR Q1 FY2026)Estimated12% AI
AI Revenue %
12%
AI Fair Value
$91.8M
AI Revenue (Q)
$1.6M
Total Revenue (Q)
$13.1M
Source: SEC EDGAR 10-Q Filing
Browse 10-Q filings on SEC.govAnalysis
Q1 FY2026 (ended Aug 29, 2025): Revenue $11.0M -- down from $13.1M in prior year Q1. Net loss $2.1M. Revenue is split: Product $10.2M (est.), Services $0.8M (est.). Three customers >10%: Customer A 42.6%, Customer B 21.8%, Customer C 11.6%. The 10-Q has no segment note. Incal is now fully integrated (no separate disclosure). The filing does not have expanded market discussion. Revenue decline suggests continued SiC/EV softness. AI portion maintained ~12% as Incal products and High Power FOX-XP continue to generate AI-related orders but the overall revenue base is shrinking. Estimate: ~$1.3M AI-related of $11.0M.
Analyzed by claude-opus-4-6
Quoted Figures
Three Months Ended August 29, 2025: Revenue $10,969 thousand; Cost of revenue $7,250; Gross profit $3,719
10-Q Q1 FY2026, Condensed Consolidated Statements of Operations
Customer A: 42.6%, Customer B: 21.8%, Customer C: 11.6% of Q1 FY2026 revenue
10-Q Q1 FY2026, Note 1 Concentration of Credit Risk
AI Products Identified (Ring 1)
Incal Sonoma/Tahoe/Echo packaged part burn-in systems for AI accelerators and GPUsHigh Power FOX-XP for AI accelerator/GPU burn-inFOX-P systems for silicon photonics wafer-level burn-in
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Incal packaged part burn-in (general semiconductor portion)Silicon photonics burn-in for data center optical interconnects
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix