Aehr Test Systems (AEHR) 28th Annual Needham Growth Conference Virtual summary

Business and Company Overview

• Nearly 50 years as a leader in semiconductor test, specializing in reliability and burn-in for both package-level and wafer-level devices, with a unique position in wafer-level burn-in technology and a global customer base including major tech and semiconductor firms.

• State-of-the-art 50,000+ sq. ft. facility in Fremont, CA, supporting high-volume production, with global contract manufacturing and capacity exceeding current revenue levels.

• Manufacturing processes have passed Tier 1 customer qualifications.

• Installed base includes major AI processor, automotive, data center, silicon photonics, and cell phone supply chain companies, with a growing footprint this year.

Product Innovation and Differentiation

• Offers Sonoma and proprietary FOX systems, enabling package and wafer-level burn-in, with full turnkey solutions including equipment, software, automation, and consumables.

• FOX-XP system enables multi-wafer parallel test and burn-in, supporting up to 18 wafers in parallel, reducing equipment cost and fab footprint while increasing yield.

• Holds extensive global patents on wafer-level burn-in technology, including temperature control and probe contact; systems can test up to 20 wafers simultaneously.

• WaferPak contactors are patented, high-margin, and required for each new device design, supporting recurring revenue from consumables.

• Lead AI customer transitioning to full automation, with benchmarks underway for major AI accelerator companies, potentially driving significant system orders.

Product Portfolio and Applications

• FOX-XP: High-volume, multi-wafer test and burn-in system with up to 18 blades and 360 wafer capacity.

• FOX-NP: Dual-wafer system for new product introduction, engineering, and low-volume production.

• Sonoma platform: Largest installed base for high-power packaged part burn-in, especially for AI processors.

• WaferPak contactors enable low-cost, high-density, and high-temperature testing.