Aehr Test Systems · NASDAQ:AEHR
Aehr Test Systems — Investor Presentation (May 2024)
32 slides from Aehr Test Systems's investor presentation, May 29, 2024
Slide 1: Setting the Test Standard for Tomorrow
Setting the Test Standard for Tomorrow May 29, 2024 Nasdaq: AEHR
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements that involve risks and uncertainties relating to projections regarding industry growth and customer demand for the Company’s products. Actual results may vary from projected results. These risks and uncertainties includ
Slide 3: Presenting Today
Presenting Today Gayn Erickson CEO, Aehr Test Systems
Slide 4: Aehr Test Systems Company Overview
Aehr Test Systems Company Overview Production Semiconductor Test & Burn-in for over 40 Years! ⚫ Technology leader in massively parallel test and burn-in systems ⚫ World-wide leader in wafer- level burn-in and test systems ⚫ Unique full-wafer test and burn- in systems and contactors
Slide 5: Worldwide Customer Base
Worldwide Customer Base Aehr Test Headquarters, Fremont California Aehr has been a leader in burn-in test solutions for over 40 years with thousands of systems shipped worldwide (Partial Customer List)
Slide 6: FY24 Update (FY ending May 31, 2024)
FY24 Update (FY ending May 31, 2024) ⚫ Financial Summary ⚫ Guidance for Fiscal Year Revenue of > $65.0M ⚫ Guidance for Profits of > $11M GAAP net income (~ 17% net profit) ⚫ $47.6M in cash and cash equivalents at 2/29/24 ⚫ Working capital of $83.2M at 2/29/24 ⚫ Business Highlights ⚫ Market share lea
Slide 7: Aehr Market Growth Drivers
Aehr Market Growth Drivers ⚫ Semiconductors will grow > $1.0T in 2030! o Lead by Mega Drivers AI, Green Energy, and Digital Transformation o Compute and Data, Automotive, and Wireless Communications to each grow over $100B each annually between 2021 and 2030 ⚫ Reliability test needs to grow with or
Slide 8: Aehr Market Growth Drivers
Aehr Market Growth Drivers Semiconductor Market Acceleration from “Mega” Drivers “Mega” Drivers Artificial Intelligence Green energy / Decarbonization Digital transformation “IoT” Semiconductor Market ($ Billions) Historical trend AEHR>=— TEST SYSTEMS ==
Slide 9: Aehr Market Growth Drivers
Aehr Market Growth Drivers Conviction in a ~$1T semiconductor market grew Global semiconductor market USD billions ~52 59 ~172 2021 Source: McKinsey analysis ~ 1,000 ~147 Automotive Computing & data storage Consumer Industrial Wired communication Wireless communication Growth contribution per vertic
Slide 10: Aehr Market Growth Drivers
Aehr Market Growth Drivers It may prove to be more economical to also build large systems out of smaller functions, which are separately packaged and interconnected. ~ Gordon E. Moore AEHR>=— TEST SYSTEMS ==
Slide 11: Key Trends Driving Wafer Level Burn-in
Key Trends Driving Wafer Level Burn-in Decreasing Increasing Increasing Semiconductor Reliability Reliability Needs Known Good Die ⚫ Smaller Geometries ⚫ Electric Vehicles ⚫ Heterogeneous Integration (Extends Moore’s Law) ⚫ Larger Die Sizes ⚫ Automotive Electronics ⚫ Multi-Die Modules ⚫ Compound ⚫ E
Slide 12: Multi-Die Packages Drive Wafer Level Test & Burn-in
Multi-Die Packages Drive Wafer Level Test & Burn-in Onsemi EV Traction Inverters (24-die module for Power) Intel Co-Packaged Optics Demo at OFC 2024 Toshiba Micron NVIDIA 16-die NAND flash memory HBM3E 8 Die DRAM Stack for Enterprise Data Storage for AI and Supercomputing Blackwell AI MCM announced
Slide 13: Aehr Test Systems Market Drivers
Aehr Test Systems Market Drivers Need for cost-efficient wafer level and singulated die burn-in, stabilization, & testing are creating significant revenue opportunities for Aehr Test in the following key markets ⚫ Electric Vehicle & Electrification of Transportation Infrastructure driving motor cont
Slide 14: Update on Silicon Carbide Burn-in Market
Update on Silicon Carbide Burn-in Market ⚫ Aehr is well on way to becoming the industry standard for a critical manufacturing step for silicon carbide power semiconductors used in electric vehicle traction inverters that power EV engines. ⚫ Aehr’s FOX multi-wafer test and burn in systems with propri
Slide 15: Burn-in Testing – The Bathtub Curve
Burn-in Testing – The Bathtub Curve Example Silicon Carbide Failure Rate ⚫ Burn-in: A functional test in which electronic components are subject to Decreasing Failure Rate Constant Failure Rate Increasing Failure Rate > 10,000 ppm elevated voltages and/or Failure Rate temperatures for a duration of
Slide 16: SiC and Multi-Die Packages / Modules
SiC and Multi-Die Packages / Modules Package/Module yield loss cost much greater than cost of wafer level burn-in Tesla Traction Inverter with 24 2-die modules Lucid Traction Inverter with 3 10-die modules Onsemi Traction Inverter with 1 24-die module Onsemi Traction Inverter with 3 8-die modules
Slide 17: SiC and Multi-Die Packages / Modules Module Yield
SiC and Multi-Die Packages / Modules Module Yield as Function of Burn-in Yield Loss per Die 100% 95% 0.25% 90% 85% 0.50% Module Yield 80% 75% 0.75% 70% 1.00% 65% 60% 1.25% 55% 50% 1.50% 0 4 8 12 16 20 24 28 32 Number of Die per Module ⚫ Infant Mortality Yield loss of Modules linear with yield loss p
Slide 18: FOX-XP Multi-Wafer Production Test & Burn-In System
FOX-XP Multi-Wafer Production Test & Burn-In System ⚫ 9 / 18 Wafer System for High Volume Production ⚫ 100% compatible using the same Blade resources as FOX-NP ⚫ Configurable for Gate, Drain, and Body Diode Stress tests ⚫ Integrated standard 20ºC to 150ºC thermal control unit ⚫ FOX WaferPak Contacto
Slide 19: Aehr Wafer Level Test & Burn-in Patents
Aehr Wafer Level Test & Burn-in Patents ⚫ WaferPak temperature control methods ⚫ Vacuum & pressure-based WaferPaks ⚫ Maintaining probe contact over temperature ⚫ Electrical components in WaferPak ⚫ Individual DUT power supplies ⚫ Per Die Current Protection ⚫ Redundant power supplies ⚫ Portable Wafer
Slide 20: Proprietary Wafer Level Enabling Technology
Proprietary Wafer Level Enabling Technology ⚫ Aehr’s FOX-XP is capable of both functional burn-in and test solutions – leverages proprietary aligner and contactor technology ⚫ Multi-wafer technology enables customers to achieve an overall decrease in test equipment cost and fab footprint – while inc
Slide 21: Testing without Compromise
Testing without Compromise Reliability, Stress, and DFT Testing without compromise ⚫ Solutions for package parts, modules, panels, or wafers allow testing at optimal process point ⚫ Confirm which devices received desired test with per device measurements, monitoring, & feedback ⚫ 100% traceability w
Slide 22: Critical SiC MOSFET Parameters & Stress Tests
Critical SiC MOSFET Parameters & Stress Tests Higher than acceptable extrinsic (infant mortality) failure rates of silicon carbide MOSFETs require 100% production stress / burn-in testing to achieve automotive V(BR)DSS Drain Source and industrial quality levels Breakdown Voltage Example Stress / Bur
Slide 23: Package Part vs Wafer Level Burn in
Package Part vs Wafer Level Burn in Package / Module Part Burn-in Wafer Level Burn-in x18 ⚫ Up to ~ 2,500 SiC devices per system ⚫ Up to ~ 45,000 SiC devices per system ⚫ Individual device handling with limited life ⚫ 1000s of devices handled at a time with micro-pogo sockets and scrub marks on devi
Slide 24: Update on Gallium Nitride Burn-in Market
Update on Gallium Nitride Burn-in Market ⚫ Engaged with multiple large and small semiconductor companies developing GaN based MOSFETs for electrification infrastructure used in AC to DC and DC to AC power conversion ⚫ GaN expected to grow enormously moving forward as it is faster, more effective, an
Slide 25: Update on Silicon Photonics Burn-in Market
Update on Silicon Photonics Burn-in Market ⚫ In FY24, we shipped our new higher power production system capable of testing and burning in up to 3.5 kW per Wafer on the 9 Wafer FOX- XP Test and Burn-in System. ⚫ Optical I/O has the potential to be a game changer for semiconductors as it breaks the bo
Slide 26: Optical I/O is Coming…
Optical I/O is Coming… ⚫ “It was never about just … transceivers, it was about the learning curve because we knew that, down the road, optics needed to be co-packaged with Ethernet switches. And it will eventually be integrated with the CPU or XPU as well.” – Robert Blum, Senior Director of New Busi
Slide 27: Optical I/O is Coming...
Optical I/O is Coming... sytem Intel Co-Packaged Optics Demo at OFC 2024 vY Optical RX checks BER of PRBS-3] data sent by System 2. Y Optical TX is captured on Real-Time Scope. System 2: Y Optical TX drives PRBS-31 data to System 1 over Single-Mode Fibers. Y Optical TX shows optical spectrum of 8 wa
Slide 28: Aehr's New Fully Automated WaferPak Aligner
Aehr’s New Fully Automated WaferPak Aligner ⚫ Available in stand-alone as well as fully integrated with FOX-XP System configurations ⚫ Provides customers fully hands-free operation up to lights out SECS/GEM factory automation and integration ⚫ Expands Aehr markets & opportunities ⚫ Both stand-alone
Slide 29: NEW: Data Storage Device WLBI Opportunity
NEW: Data Storage Device WLBI Opportunity ⚫ Aehr announced a FOX-CP System order and shipment in 2019 prior to COVID-19 pandemic ⚫ A major new customer for Aehr and our FOX-CP system CP Single Wafer Stepping ⚫ 100% test and burn-in of devices, versus sampling Test & Burn-In System ⚫ This very high-v
Slide 30: NEW: Flash Memory WLBI Opportunity
NEW: Flash Memory WLBI Opportunity ⚫ Aehr has been engaged with multiple Flash memory companies related to our FOX wafer level test and burn in systems for their XP high-volume production ⚫ Aehr has now secured a commitment from one of the major Flash Multi-Wafer Test & Burn-In System memory supplie
Slide 31: NEW: AI Accelerator/Processor WLBI Opportunity
NEW: AI Accelerator/Processor WLBI Opportunity ⚫ Aehr is working with an AI accelerator company to move their AI processor to wafer level test and burn-in XP ⚫ Aehr secured a commitment to evaluate our FOX solution for production level test and burn-in of the processors High Power Multi-Wafer Test &
Slide 32: Setting the Test Standard for Tomorrow
Setting the Test Standard for Tomorrow Nasdaq: AEHR