ACM Research Reports Fourth Quarter and Fiscal Year 2024 Results

Core Insights - ACM Research, Inc. reported a strong financial performance for the fiscal year 2024, with a revenue increase of 40% and total shipments rising by 63% compared to the previous year [2][3] - The company achieved significant operational milestones, including process qualification of its Thermal and Plasma-Enhanced ALD furnace tools at two semiconductor customers in mainland China and the commencement of operations at its Lingang production facility [2][3] - For fiscal year 2025, ACM maintains its revenue guidance range of $850 million to$950 million, reflecting ongoing assessments of international trade policies and customer spending scenarios [3] Financial Performance - For the fourth quarter of 2024, ACM reported revenue of $223.5 million, a 31.2$170.3 million in the fourth quarter of 2023 [6][18] - The gross margin for the fourth quarter was 49.6%, up from 46.4% in the same quarter of the previous year, while the non-GAAP gross margin was 49.8% compared to 46.8% [6][18] - Operating income for the fourth quarter was $44.0 million, an increase of 88.2$23.4 million in the fourth quarter of 2023 [6][18] - For the full year 2024, total revenue reached $782.1 million, up 40.2$557.7 million in 2023, with a gross margin of 50.1% compared to 49.5% in 2023 [6][18] Operational Highlights - Total shipments in 2024 amounted to $973 million, reflecting a 63.1$264 million compared to $140 million in the fourth quarter of 2023 [2][6] - The company reported cash flow from operations of$152 million for the fiscal year 2024 [2] - ACM's operating expenses for the fourth quarter were $66.8 million, a 20.0$155.2 million for the fourth quarter, up from $122.3 million in the same quarter of 2023 [20]