Company: PDEX
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0001079973-25-000164
Chunk: 11

Company: PRO DEX INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Item 2
Chunk 11
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2035) was approved by our Board in October 2023 and by our shareholders at our 2023 Annual Meeting.

During the three months
ended December 31, 2024 and 2023, we did not record any share-based compensation expense relating to the ESPP, due to the fact that no
six-month offering period ended during either quarter. During the six months ended December 31, 2024 and 2023, 940 and 2,021 shares of
our common stock were purchased under the ESPP, respectively, and allocated to employees based upon their contributions at prices of $16.22
and $15.82, respectively, per share. On a cumulative basis, since the inception of the ESPP, employees have purchased a total of 36,442
shares of our common stock. During the six months ended December 31, 2024 and 2023, we recorded share-based compensation expense in the
amount of $3,000 and $6,000, respectively, relating to the ESPP.

    12 
    PRO-DEX, INC. AND SUBSIDIARYNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 

NOTE 9. 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 or the six-month periods
ended December 31, 2024 and 2023, is as follows (in thousands, except percentages):

    Schedule of sales by major customers 

    Three
    Months Ended December 31, 

    2024  
    2023 

    Amount  
    Percent of Total  
    Amount  
    Percent of Total 

    Net sales	 
    $16,793  
     100% 
    $12,588  
     100%

    Customer concentration: 

        Customer 1	 
    $13,515  
     80% 
    $8,437  
     67%
  
        Customer 2	 
     1,784  
     11% 
     1,494  
     12%
  
        Customer 3	 
     804  
     5% 
     1,313  
     10%
  
     Total	 
    $