Aehr Test Systems
AEHRQ2 2024(AEHR Q4 FY2024)Estimated2% AI
AI Revenue %
2%
AI Fair Value
$14.8M
AI Revenue (Q)
$269,060
Total Revenue (Q)
$13.5M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 FY2024 (ended May 31, 2024): Full year FY2024 revenue not directly stated in truncated 10-K text, but FY2024 9-month = $49.6M. 10-K states top 5 customers = 93% of revenue, top 2 = 67% + 17% = 84%. Still overwhelmingly SiC/EV. The 10-K mentions 'artificial intelligence' in the silicon photonics section and lists it as a market, but no revenue attribution. No Incal yet (acquired Jul 2024). Estimate 2% AI from silicon photonics -- slightly higher than FY2023 as AI data center build-out accelerated optical interconnect demand.
Analyzed by claude-opus-4-6
Quoted Figures
Sales to our five largest customers accounted for approximately 93%, 97%, and 98%, of our net sales in fiscal 2024, 2023, and 2022, respectively. During fiscal 2024, two customers accounted for approximately 67% and 17% of the Company's net sales.
10-K FY2024, Item 1A Risk Factors
The Company's semiconductor test and reliability qualification solutions address multiple test and burn-in markets including Silicon Carbide (SiC) and Gallium Nitride (GaN) devices for power semiconductors...silicon photonics for data center infrastructure...and the data storage and memory and artificial intelligence markets.
10-K FY2024, Item 1 Business - Markets
AI Products Identified (Ring 1)
FOX-P systems for silicon photonics wafer-level burn-in (partial AI adjacency)
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.
Silicon photonics burn-in for AI data center optical interconnectsGeneral FOX-P product line (non-AI)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix