AEM Holdings has reported 2HFY2025 revenue of $209.1 million, which brings its full-year revenue to $399.3 million, an increase of 5%.
The provider of chip testing services attributes the higher revenue number to a relatively new customer ramping up volume, at a magnitude that was able to offset further volume decline of its key customer.
As the company was able to achieve better margins, it was able to report a bigger improvement in its bottom line.
For the half year ended June 2025, AEM reported earnings of $13.87 million, an increase of 32% over the year-earlier period. This brings its total FY2025 earnings to $16.95 million, a jump of 48% over the preceding year ended Dec 2024.
With the better numbers, AEM has resumed paying dividends, with a final payout of 1.3 cents.
This current FY2026, AEM expects revenue to grow further to between $460 million and $510 million.
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While at this level is between 10 and 20% higher than FY2025's, the composition of AEM's revenue is seen to shift.
The higher revenue will be mainly from further volume ramp-up as required by the new customer, displacing the long-time key customer along the way.
Citing Bank of America, AEM says that AI semiconductor sales will achieve a year-on-year increase of more than 50%, and that it is well-positioned to benefit from "sustained demand tailwinds".
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"The rapid ramp of our strategic AI/HPC customer’s business over the past year validates our leadership in advanced logic test and positions AEM at the forefront of structural semiconductor growth," says CEO Samer Kabbani.
However, AEM is also seeing a surge in CPU demand, which is already translating into increased orders from its long-standing HPC customer and should directly benefit the company in the near term.
"We are now extending this momentum into memory test, with customer validation on track for production in late FY2026," says Kabbani.
AEM Holdings shares closed at $2.03 on Feb 25, down 0.98% for the day, but up 36.24% in the past year.
