Company: AOSL
Filing Date: 2025-08-28
Form Type: 10-K
Source: 0001628280-25-041297
Chunk: 3

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-08-28
Form: 10-K
Item: Item 15
Chunk 3
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 opinion on the Company's consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Baker Tilly US, LLP

We served as the Company's auditor from 2022 to 2024.

Santa Clara, California

August 23, 2024 (August 28, 2025, as to the effects of the adoption of ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, described in Note 13)

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ALPHA AND OMEGA SEMICONDUCTOR LIMITEDCONSOLIDATED BALANCE SHEETS(in thousands, except par value per share)

                                                                                                                                                                                                June 30,   20252024ASSETSCurrent assets:Cash and cash equivalents$153,079 $175,127 Restricted cash419 413 Accounts receivable, net34,772 12,546 Inventories189,677 195,750 Other current assets18,215 14,165 Total current assets396,162 398,001 Property, plant and equipment, net314,097 336,619 Operating lease right-of-use assets, net21,288 25,050 Intangible assets, net269 3,516 Equity method investment279,122 356,039 Deferred income tax assets 599 549 Other long-term assets22,766 25,239 Total assets$1,034,303 $1,145,013 LIABILITIES