Company: AEHR
Filing Date: 2025-01-13
Form Type: 10-Q
Source: 0001654954-25-000285
Chunk: 43

Company: AEHR TEST SYSTEMS
Filing Date: 2025-01-13
Form: 10-Q
Item: Part I, Item 2
Chunk 43
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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, 2024 from $21.4 million for the three months ended November 30, 2023, driven by a decrease in shipments of our systems and contactors, as well as reduced delivery of our services, primarily due to the continued softness in the power semiconductor demand for electric vehicles. Our systems revenue decreased by $7.3 million due to the decrease in our FOX-P systems revenue, which was partially offset by the increase in package parts burn-in systems revenue of $4.8 million in connection with the Incal acquisition. Our contactors revenue decreased by $0.6 million and our services revenue decreased by $