They’ve sold/installed 2,500 systems (all product lines) since the dawn of time. In 1997 - by the time of their IPO - they had "sold more than 2,000 systems to semiconductor manufacturers, semiconductor contract assemblers and burn-in and test service companies worldwide". At the end of fiscal 2005, it was upped to “over 2,500 systems installed worldwide”, and has stayed at that “over 2,500” level since then.
Aehr had entered into an agreement with DARPA to develop a wafer-level burn-in and test system, and the full wafer contact burn-in and parallel test system was introduced in 2001 (FY02), along with the WaferPak cartridge system. (FOX-14, capable of testing up to 14 wafers at a time.)
Here’s the progression of revenue by product line looking “a few” quarters back.
There are a few gaps, and the data is somewhat approximate early on, but the cumulative revenue from wafer-level systems and services, including contactors, ends up at about $300 million.
Data for systems (all product lines) vs contactors only goes back to FY 2017. Here’s a complimentary chart with “a few” quarters of context:
A best attempt at combining the two gives the following, which necessarily includes services. (FY23 is approximate, since there’s no 10-K yet.)
| Wafer-level Systems & Services |
Contactors | Packaged Part Systems & Services |
Contactors % of Total Wafer-level Revenue |
|
|---|---|---|---|---|
| 2017 | 7.6 | 2.0 | 9.3 | 21% |
| 2018 | 6.6 | 6.5 | 16.5 | 50% |
| 2019 | 8.5 | 6.2 | 6.4 | 42% |
| 2020 | 9.0 | 10.8 | 2.5 | 55% |
| 2021 | 9.2 | 5.8 | 1.6 | 39% |
| 2022 | 26.3 | 22.6 | 1.9 | 46% |
| 2023 | 41.9 | 21.9 | 1.2 | 34% |
| Total | 109.0 | 75.8 | 39.4 | 41% |
(Cumulative revenue from wafer-level systems and services prior to FY 2017, including contactors, is somewhere around $110-$130 million.)
In other words, cumulative revenue for wafer-level systems minus “consumables” puts a cap on the number of installed systems (of interest). So it’s a lot less than 2,500, and I feel @wsm007’s excellent post is a good way to approach and think about it.
Customer concentration, highlighting Onsemi, currently looks like this:
The mix of five largest customers isn’t constant, so here’s a more detailed breakdown covering the last decade. (Note that a blank cell only means less than 10% of revenue from a customer. The column to the right provides the upper limit, i.e the lesser of 10% and what’s unaccounted for.)
| ON | Intel | AMD | Inphi | STMicro | TI | Cypress | Astronics | Apple | Micronas | Spansion | Max revenue from any unlisted top 5 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 7.9 | 2.4 | 5.9 | 1.6 | ||||||||
| 2015 | 4.5 | 1.1 | 1.0 | |||||||||
| 2016 | 4.6 | 6.8 | 1.5 | |||||||||
| 2017 | 3.2 | 3.6 | 8.5 | 1.9 | 0.4 | |||||||
| 2018 | 7.7 | 10.0 | 3.8 | 3.0 | ||||||||
| 2019 | 7.6 | 2.1 | 2.9 | 2.5 | 1.7 | |||||||
| 2020 | 3.6 | 9.6 | 3.3 | 2.2 | ||||||||
| 2021 | 3.8 | 3.3 | 4.0 | 1.7 | 1.2 | |||||||
| 2022 | 41.7 | 5.1 | ||||||||||
| 2023 | 51.3 | 6.5 |
2023 being an exception, since the 10-K isn’t out yet, and these numbers are approximate.
I don’t have a position in AEHR, and instead merely taken an aercheological interest in the company.