Aehr Test Systems beats Q1 but keeps outlook unchanged, shares plunge

Aehr Test Systems (NASDAQ:) shares plunged more than 12% after-hours following the company’s reported Q1/24 beat but unchanged full-year guidance.

came in at $0.18, compared to the consensus estimate of $0.16. Revenue grew 93% year-over-year to $20.6M, compared to the consensus estimate of $19.23M.

“We finished the first quarter with solid revenue and non-GAAP net income, the strongest first quarter in our history, which has historically been our seasonally softest quarter. We are off to a very good start to our fiscal year and are reaffirming our expectation to grow fiscal full year revenue by at least 50% and profit by over 90% year over year,” said CEO Gayn Erickson.

The company reiterated its previously provided full-year guidance for total revenue to be at least $100M (vs. consensus of 102.93M) and GAAP net income of at least $28M.