Aehr Test Misses Revenue, Shares Drop 5%

Aehr Test Systems posted Q3 adjusted loss of $0.05 per share, beating estimates of $0.07 but revenue $10.3M missed $10.8M consensus.
Revenue fell 44% YoY to $10.3M, while quarterly bookings surged to $37.2M, giving a book‑to‑bill ratio above 3.5x.
Company reaffirmed FY2026 revenue guidance of $25‑$30M (midpoint $27.5M) and adjusted loss per share guidance of -$0.09 to -$0.05.
Cash and equivalents rose to $37.1M from $31.0M, backlog $38.7M (effective $50.9M), and a near‑term order expected from a hyperscale AI customer.