Shares of Aehr Test Systems (AEHR) surged in after-hours trading Tuesday after the company reported fiscal fourth-quarter results that blew past expectations on both the top and bottom lines.

The semiconductor testing equipment maker posted quarterly earnings of 11 cents per share, crushing the analyst consensus estimate that called for a loss of one cent. Revenue hit $18.84 million, edging past the Street's $18.69 million forecast and jumping 34% from $14.09 million in the same quarter last year.

But the headline numbers only tell part of the story. Here's what else stood out:

• Net revenue: $18.8 million vs. $14.1 million a year ago
• Quarterly bookings: a record $60.7 million
• Backlog as of May 29, 2026: $80.6 million; effective backlog including subsequent bookings: $100.6 million

CEO Gayn Erickson summed it up: "We are very pleased with our fiscal fourth quarter performance, which exceeded expectations and capped a year of significant bookings and revenue diversification for Aehr." He added that "record quarterly bookings, a very strong backlog, and growing demand across AI processors, silicon photonics and power semiconductors for our wafer-level and package-level burn-in solutions position us well for significant growth moving forward."

Looking ahead, Aehr expects fiscal 2027 revenue in a range of $130 million to $150 million — well above the $85.13 million analysts had been modeling. That kind of guidance suggests the company sees a massive acceleration in demand for its testing gear, which is used to stress-test chips before they go into everything from AI accelerators to electric vehicles.

Investors clearly liked what they heard. Aehr Test Systems shares jumped 23.29% to $88.78 in Tuesday's extended trading session.