Company: AEHR
Filing Date: 2025-07-28
Form Type: 10-K
Source: 0001654954-25-008553
Chunk: 510

Company: AEHR TEST SYSTEMS
Filing Date: 2025-07-28
Form: 10-K
Item: Item 4
Chunk 510
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37,560   21,873 Services  6,142   4,489   4,244   $58,968  $66,218  $64,961 

 50Table of Contents

The following presents information about the Company’s operations in different geographic areas. Net revenues are based on ship-to locations:   Year Ended   May 30,  May 31,  May 31, (In thousands) 2025  2024  2023 Asia $37,095  $58,076  $55,609 United States  17,673   3,532   9,289 Europe  4,200   4,610   63   $58,968  $66,218  $64,961  With the exception of the amount of service contracts and extended warranties, the Company’s product category revenues are recognized at point in time when control transfers to customers. The following presents revenue based on timing of recognition:   Year Ended   May 30,  May 31,  May 31, (In thousands) 2025  2024  2023 Timing of revenue recognition:         Products and services transferred at a point in time $57,745  $64,590  $63,531 Services transferred over time  1,223   1,628   1,430   $58,968  $66,218  $64,961  Contract Balances Accounts receivable are recognized in the period the Company delivers goods and provides services or when the Company’s right to consideration is unconditional. Contract assets include unbilled receivables which represent revenues that are earned in advance of scheduled billings to customers. These amounts are primarily related to product sales where transfer of control has occurred but the Company has not yet invoiced. As of May 30, 2025 and May 31, 2024, unbilled receivables were $3.6 million and $0.2 million, respectively, and were included in prepaid expenses and other current assets on the accompanying consolidated balance sheets. Contract liabilities include payments received in advance of performance under a contract and are satisfied as the associated revenue is recognized. Contract liabilities as of May 30, 2025 and May 31, 2024 were $