Company: AEHR
Filing Date: 2025-07-28
Form Type: 10-K
Source: 0001654954-25-008553
Chunk: 435

Company: AEHR TEST SYSTEMS
Filing Date: 2025-07-28
Form: 10-K
Item: Item 3
Chunk 435
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 Level 1  Level 2  Level 3 Money market funds $44,280  $44,280  $-  $-                  Total $44,280  $44,280  $-  $-  As of May 30, 2025 and May 31, 2024, money market funds included restricted cash of $0.2 million, representing a security deposit for the Company’s manufacturing and office space lease in the United States, which is included in other non-current assets in the consolidated balance sheets. There were no financial liabilities measured at fair value as of May 30, 2025 and May 31, 2024. There were no transfers between Level 1 and Level 2 fair value measurements during the fiscal years ended May 30, 2025 and May 31, 2024. The carrying amounts of financial instruments including cash equivalents, accounts receivables, accounts payable and certain other accrued liabilities, approximate fair value due to their short maturities.

3. BALANCE SHEET INFORMATION Inventories consisted of the following:   May 30,  May 31, (In thousands) 2025  2024 Raw materials and sub-assemblies $30,644  $22,410 Work in process  9,263   13,593 Finished goods  2,090   1,467   $41,997  $37,470  Property and equipment, net consisted of the following:   May 30,  May 31, (In thousands) 2025  2024 Leasehold improvements $5,999  $1,298 Machinery and equipment  3,846   4,180 Test equipment  2,898   1,928 Furniture and fixtures  1,331   175 Construction-in-process  362   638    14,436   8,219 Less: accumulated depreciation and amortization  (5,467)  (4,966)  $8,969  $3,253     Depreciation expense was $1.0 million, $0.7 million, and $0.5 million in fiscal years 2025, 2024, and 2023, respectively