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Companies / Information Technology / Aehr Test Systems
AEHR

Aehr Test Systems

Information TechnologyMedical Instruments
Ticker AEHRFREMONT, CAFiscal year ends DecemberBook value per share $2.59Diluted shares 29.2M

Aehr Test Systems (Nasdaq: AEHR) designs, manufactures, markets and sells semiconductor test and burn-in equipment and related products to semiconductor manufacturers, contract assemblers, electronics manufacturers, and test and burn-in service companies. Its systems screen devices for defects and reliability at… From the company’s description.

In fiscal 2022, Aehr Test Systems reported revenue of $64.96M, up 27.8% from fiscal 2021, and net income of $14.56M. Its operating margin was 20.6%, and operations generated $10.01M in cash.

Fiscal year 2022 · ends 12-31Changes are against fiscal 2021
Sales & profitability
$64.96MFY2022
+27.8% year over year
20.59%FY2022
+5.2 percentage points
$14.56MFY2022
+54.0% year over year
19.26%FY2022
+0.7 percentage points
Cash & financing
$10.01MFY2022
+563.9% year over year
$8.65MFY2022
+692.0% year over year
—
Was 0.00× a year earlier
29.2MFY2022
+5.2% year over year

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure.

What Aehr Test Systems does

In the company’s own words

Aehr Test Systems (Nasdaq: AEHR) designs, manufactures, markets and sells semiconductor test and burn-in equipment and related products to semiconductor manufacturers, contract assemblers, electronics manufacturers, and test and burn-in service companies. Its systems screen devices for defects and reliability at wafer, singulated-die, module, and packaged-device stages, serving applications that include AI and high-performance computing, power semiconductors, photonics, memory, and automotive electronics. Aehr operates as one business segment. Its wafer-level and die-level products include FOX-XP, FOX-NP and FOX-CP systems, WaferPak contactors and aligners, and DiePak carriers and loaders; package-level systems include the Sonoma, Tahoe and Echo product lines. Wafer-level product lines accounted for 63% of fiscal 2026 revenue, while package-level products accounted for 37%. The company added the Sonoma, Tahoe and Echo platforms through an acquisition in fiscal 2025. Aehr reported $50.0 million in net revenue and employed 138 full-time people in fiscal 2026. Its website is www.aehr.com.

Company details
Sector
Information Technology
Industry (SIC)
Medical Instruments
Headquarters
FREMONT, CA
Fiscal year end
December
CIK
1040470
SIC
3825

Financial performance, year by year

Fiscal 2011–2022 · USD
$-13.96M$7.56M$29.09M$50.61M$72.14M201120122013201420152016201720182019202020212022

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Aehr Test Systems — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

188
funds hold it
1 of 35
superinvestors hold it
$704.24M
held by funds, at market
22.9%
of shares held by funds

Superinvestors in Aehr Test Systems · what they did last quarter

Polen CapitalDECREASED -16.7%
Polen Capital Management
0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Aehr Test Systems’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.09%of fund net assets
—of fund net assets
Fidelity Small Cap Growth Fund
FCPGX · Fidelity Securities Fund
—of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.03%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do Aehr Test Systems and its peers compare on margins and cash generation over ten years?”
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