Aehr Test Systems

Aehr’s systems are capital goods, but the proprietary consumables (WaferPak/DiePak) are device‑specific with multi‑year replacement cycles, supporting above‑average gross margins and giving room for value‑based pricing, especially where WLBI replaces more expensive downstream rework.

That said, large customers exert buying power and equipment pricing can be competitive, particularly outside leading‑edge applications. The emergence of credible WLBI alternatives in China caps ultimate pricing freedom.

Net‑net, moderate pricing power today with potential to expand if AI/photonics WLBI and higher‑power PPBI (Sonoma) scale and standardize.