FREMONT, CA – Aehr Test Systems (NASDAQ: AEHR), a global supplier of semiconductor test and semiconductor equipment, announced today that it has secured the first production order from a leading automotive semiconductor supplier for the FOX-XP™ test system. of the wafer stage. and internal heating system with integrated FOX WaferPak™ Aligner. This system is designed to test gallium nitride (GaN) power semiconductor devices and is set to be deployed soon. According to InvestingPro Data, Aehr maintains a strong financial health with a strong current ratio of 6.03, indicating good liquidity performance. 50.48% of the company's additional profit reflects effective cost management in its manufacturing operations.
Aehr Test Systems president and CEO, Gayn Erickson, said the company has been working with the customer for more than a year to support their testing and certification process for GaN power semiconductors. Erickson expressed excitement about the first purchase order, which marks the customer's transition to wafer-scale production of their GaN devices using Aehr's FOX-XP platform.
The customer previously used the FOX-NP system for product qualification and reliability testing, and Aehr's proprietary WaferPak complete wafer connection, successfully qualifying a variety of GaN devices for many applications, including industrial, solar, industrial data, and car markets.
Aehr's FOX-XP system allows a seamless transition from device qualification to high-volume, fully automated wafer testing. It can test up to nine wafers in parallel and is designed to handle high-voltage and high-temperature stress tests, essential for power semiconductors such as GaN and silicon carbide (SiC).
GaN MOSFETs are recognized for their superior power conversion efficiency over silicon and are becoming increasingly popular in automotive power converters and data center power applications. Industry experts predict that GaN will eventually replace silicon in energy conversion, particularly in photovoltaic applications.
Market research from Yole Group and Frost & Sullivan projects significant growth in GaN technology, with annual device sales expected to reach $2.5 billion by 2029 and GaN semiconductors accounting for more than 10% of the power semiconductor industry in 2028. Aehr's wafer-level testing and sintering solutions.
Aehr Test Systems, headquartered in Fremont, California, is recognized for semiconductor device test solutions in a variety of formats and has installed many systems worldwide. The company's products meet the increasing quality, reliability, safety, and security needs of semiconductors used in a variety of applications, including electric vehicles, electrical infrastructure, computers, and data infrastructure. With the company's next income statement due in 6 days, InvestingPro subscribers can access real-time analytics and detailed financial metrics to make informed investment decisions. The market capitalization of the company stands at 499.28 million dollars, with analysts maintaining a positive view about its growth.
This announcement is based on a press release from Aehr Test Systems.
In other recent news, Aehr Test Systems reported an important development. The company's Q1 fiscal 2025 financial results revealed revenue of $13.1 million and non-GAAP net income of $2.2 million, both numbers exceeding consensus estimates. Despite the year-over-year decline, Aehr Test Systems reaffirmed its 2025 revenue of at least $70 million, with a significant portion, 85%, expected from wafer-level burn-in.
The company has also rescheduled its fiscal Q2 2025 earnings and next conference call to January 13, 2025, due to the National Day of Mourning for former President Jimmy Carter. Aehr Test Systems showed strong profitability with a 50.5% gross margin and maintains a healthy balance sheet with more cash than debt.
In addition, Aehr Test Systems recently completed the acquisition of Incal Technology, which improves its ability to test high power AI semiconductors. This strategic move has already resulted in the company receiving its first volume production orders for Incal's Sonoma ultra-high-power semiconductor test solution.
At the Annual Meeting of Aehr Audit Systems, shareholders elected six directors to the board and confirmed BPM LLP as an independent registered public accounting firm for the coming financial year. This is the latest development from Aehr Test Systems, a company that continues to make strides in the semiconductor testing industry.
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