Company: AEHR
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001654954-25-000285
Chunk: 29

Company: AEHR TEST SYSTEMS
Filing Date: 2025-01-13
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 and used, we compare the assets’ current carrying value to the assets’ fair value. Fair value is determined based on market values or discounted future cash flows. We record impairment when the carrying value exceeds fair market value. 

We have not recorded any impairment charges during the three and six months ended November 29, 2024 and November 30, 2023. 

Results of Operations

Fiscal Year

Beginning on June 1, 2024, we have changed our fiscal year to the 52- or 53-week period ending on the Friday nearest May 31. Our second fiscal quarter in fiscal 2025 ended on November 29, 2024, and our fiscal year 2025 will end on May 30, 2025. 

Impact of Acquisition

We completed the acquisition of Incal Technology, Inc. (“Incal”) on July 31, 2024. We may quantitatively disclose the impact of the revenue and expense contributions from the acquisition where such discussions are significant to understanding our financial results.

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Discussion of Results of Operations for the Three and Six Months Ended November 29, 2024 compared to the Three and Six Months Ended November 30, 2023

Revenues 

Revenue by Category Three Months Ended     Six Months Ended       November 29,   November 30,   Percent November 29,   November 30,   Percent (Dollars in thousands) 2024  2023  Change 2024  2023  Change Products $11,985  $19,837  (40%) $24,139  $39,194  (38%) Services  1,468   1,594  (8%)  2,433   2,861  (15%)Total revenues $13,453  $21,431  (37%) $26,572  $42,055  (37%) Products as a percentage of total revenues  89.1%  92.6%    90.8%  93.2%   Services as a percentage of total revenues  10.9%  7.4%    9.2%  6.8%   

Revenue decreased to $13.5 million for the three months ended November 29,