Company: AEHR
Filing Date: 2025-07-28
Form Type: 10-K
Source: 0001654954-25-008553
Chunk: 44

Company: AEHR TEST SYSTEMS
Filing Date: 2025-07-28
Form: 10-K
Item: Item 1
Chunk 44
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 of an increase in headcount, higher non-recurring engineering services charges, an increase in allocated facility cost and an increase in recruiting expenses. 

 26Table of Contents

Selling, General and Administrative

  Year Ended        May 30,  May 31,  May 31,          (Dollars in thousands) 2025  2024  2023  FY 2025 vs FY 2024  FY 2024 vs FY 2023 Selling, general and administrative $18,283  $13,746  $12,237  $4,537   33.0% $1,509   12.3%As a percentage of total revenues  31.0%  20.8%  18.8%                

Selling, general and administrative expenses consist primarily of compensation and benefits for sales, marketing and general and administrative personnel, legal and accounting service costs, marketing communications costs, travel expenses, facilities cost allocations, and stock-based compensation charges. Selling, general and administrative expenses increased by $4.5 million in fiscal year 2025 over fiscal year 2024, primarily driven by additional selling, general and administrative expenses from the newly acquired Incal business, higher legal and other professional service fees, and higher stock-based compensation expense.

Selling, general and administrative expenses increased by $1.5 million in fiscal year 2024 over fiscal year 2023, primarily due to higher employment-related cost because of an increase in headcount, and an increase in audit and legal service fees.

Restructuring Charges

  Year Ended         May 30,  May 31,  May 31,            (Dollars in thousands) 2025  2024  2023  FY 2025 vs FY 2024 FY 2024 vs FY 2023 Restructuring Charges $864  $-  $-  $864  N.M. $-  N.M. As a percentage of total revenues  1.5%  0.0%  0.0%             

N.M.-Not meaningful

Restructuring charges incurred during fiscal 2025 primarily relate to the closure of the Incal office. For further explanation of our restructuring charges, see Note 13, Restructuring Charges,