Company: AEHR
Filing Date: 2025-10-08
Form Type: 10-Q
Source: 0001654954-25-011582
Chunk: 8

Company: AEHR TEST SYSTEMS
Filing Date: 2025-10-08
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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(In thousands) May 30, 2025  Level 1  Level 2  Level 3 Money market funds $21,461  $21,461  $-  $- Total $21,461  $21,461  $-  $-  Included in money market funds as of August 29, 2025 and May 30, 2025 was $0.2 million restricted cash representing a security deposit for the Company’s United States manufacturing and office space lease. There were no financial liabilities measured at fair value as of August 29, 2025 and May 30, 2025. There were no transfers between Level 1 and Level 2 fair value measurements during the three months ended August 29, 2025. The carrying amounts of financial instruments, including cash equivalents, accounts receivable, accounts payable and certain other accrued liabilities, approximate fair value due to their short maturities.

3. BALANCE SHEET INFORMATION Inventories Inventories consisted of the following:   August 29,  May 30, (In thousands) 2025  2025 Raw materials and sub-assemblies $32,609  $30,644 Work in process  8,674   9,263 Finished goods  559   2,090   $41,842  $41,997  Property and equipment Property and equipment, net consisted of the following:   Useful life August 29,  May 30, (In thousands) (in years) 2025  2025 Leasehold improvements *  $6,098  $5,999 Machinery and equipment 3 - 5   3,845   3,846 Test equipment 4 - 5   2,883   2,898 Furniture and fixtures 2 - 10   1,336   1,331 Construction-in-process    673   362      14,835   14,436 Less: accumulated depreciation     (5,834)  (5,467)    $9,001  $8,969  * Lesser of estimated useful life or lease term. Depreciation expense was $0.4 million for the three months ended