Company: PDEX
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001079973-25-000729
Chunk: 13

Company: PRO DEX INC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 8
Chunk 13
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of Directors also approved that 704,715 shares, be reserved for issuance pursuant to the ESPP. An amendment to the ESPP to extend its
term for an additional ten years (through 2035) was approved by our Board in October 2023 and by our shareholders at our 2023 Annual Meeting.

During the three months
ended March 31, 2025 and 2024, we recorded ESPP share-based compensation expense in the amount of $5,000 and $3,000, respectively. During
the three months ended March 31, 2025 and 2024, 653 and 983 shares were purchased, respectively, and allocated to employees based upon
their contributions at prices of $41.11 and $18.32, respectively, per share. During the nine months ended March 31, 2025 and 2024, we
recorded ESPP share-based compensation expense in the amount of $7,000 and $9,000, respectively. On a cumulative basis, since the inception
of the ESPP, employees have purchased a total of 37,095 shares of our common stock under the ESPP.

    13 
    PRO-DEX INC. AND SUBSIDIARYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 

NOTE 10. MAJOR CUSTOMERS AND SUPPLIERS

Information
with respect to customers that accounted for sales in excess of 10% of our total sales in
either of the three-month and the nine-month periods
ended March 31, 2025 and 2024, is as follows (in thousands, except percentages):

     Schedule of sales by major customers 

    Three Months Ended March 31, 

    2025  
    2024 

    Amount  
    Percent of Total  
    Amount  
    Percent of Total 

    Net sales	 
    $17,414  
     100% 
    $14,293  
     100%

    Customer concentration: 

    Customer 1 
    $13,397  
     77% 
    $10,679  
     75%
  
    Customer 2 
     1,917  
     11% 
     1,385  
     10%
  
    Total 
    $15,314  
     88% 
    $12,064