Reinstated Financial Guidance and Strong H2 Bookings Visibility
Company reinstated FY26 second-half revenue guidance of $25M–$30M and provided bookings visibility of $60M–$80M for the second half, positioning for a potentially strong FY27 beginning May 30, 2026.
Recent Orders and Backlog Growth
Q2 bookings were $6.2M with backlog of $11.8M at quarter end; during the first 6 weeks of Q3 the company received an additional $6.5M in bookings, increasing effective backlog to $18.3M. Q3-to-date Sonoma orders exceeded $5.5M from multiple customers.
Product Wins, Benchmarks and Strategic Partnerships
Substantial progress in wafer-level burn-in and packaged-part burn-in across AI processors, flash memory, silicon photonics, GaN and HDD markets; expanded partnership with ISE Labs (ASE) and completed a wafer-level benchmark with a global NAND flash leader; developed fine-pitch WaferPaks for high-current AI processors.
New High-Power Product Capabilities
Completed next-generation fully automated Sonoma supporting up to 2,000 W per device and continuous-flow operation; FOX-XP platform and auto-aligner development for 300mm wafers; company stated manufacturing capacity potential of ~20 systems/month for package or wafer systems.
Improved Liquidity Position
Cash and equivalents increased to $31.0M from $24.7M at the end of Q1; company raised ~$10M gross via ATM in Q2 and has ~$30M remaining availability under the ATM program.
Diversification of End Markets
Broadening customer base beyond silicon carbide into AI processors, silicon photonics, flash memory, GaN power semiconductors and HDD components, reducing concentration risk over time and expanding total addressable market.