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    Larry Chlebina • Chlebina Capital

    Larry Chlebina's questions to Aehr Test Systems (AEHR) leadership

    Larry Chlebina's questions to Aehr Test Systems (AEHR) leadership • Q3 2025

    Question

    Larry Chlebina asked about the installation timing for the first AI processor system, Q3 packaged part revenue, the motivation for the flash memory customer's interest, whether the new fine-pitch WaferPak opens the DRAM market, and the opportunity with a customer's 3D packaging facility.

    Answer

    CEO Gayn Erickson confirmed the first AI system is now running at the customer's OSAT, with the full initial order to be installed by quarter-end. CFO Chris Siu stated packaged part revenue was over 20% in Q3. Erickson explained that new technologies like hybrid bonding in flash memory are driving the need for Aehr's wafer-level solution to improve yields. He agreed the fine-pitch WaferPak technology opens opportunities in DRAM, particularly for HBM. Regarding the 3D packaging facility, Erickson acknowledged the significant opportunity for burn-in solutions in multi-chip modules without confirming customer specifics.

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    Larry Chlebina's questions to Aehr Test Systems (AEHR) leadership • Q2 2025

    Question

    Larry Chlebina of Chlebina Capital explored the scale of the AI processor and HBM testing opportunities, asking if the potential market is much larger than stated and if Aehr has the manufacturing capacity to meet such a surge in demand.

    Answer

    Executive Gayn Erickson acknowledged the AI-related opportunities are very large and that the motivation for wafer-level burn-in for components like HBM has dramatically increased. He assured that Aehr has significant and scalable manufacturing capacity, utilizing subcontract manufacturers, and is well-prepared to handle a substantial increase in demand.

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