ACM Research Reports First Quarter 2025 Results

Core Viewpoint - ACM Research, Inc. reported a strong start to 2025 with a 13% year-over-year revenue growth, solid profitability, and positive cash flow from operations, highlighting its technology leadership in semiconductor processing and advanced packaging applications [2][3]. Financial Performance - Revenue for the first quarter of 2025 was $172.3 million, up 13.2% from $152.2 million in the same quarter of 2024 [11][23]. - Gross margin decreased to 47.9% from 52.0% year-over-year, while non-GAAP gross margin was 48.2% compared to 52.5% [11][24]. - Operating income was $25.8 million, a 2.2% increase from $25.2 million in the previous year, with an operating margin of 15.0% [11][20]. - Net income attributable to ACM was $20.4 million, up from $17.4 million, with diluted EPS of $0.30 compared to $0.26 [11][20]. Strategic Milestones - ACM achieved several strategic milestones, including the qualification of its high-temperature SPM tool by a leading logic customer in China and receiving the 2025 3D InCites Technology Enablement Award for its Ultra ECP ap-p tool [2][6]. - The company is investing in its Oregon facility to support customer evaluations and technology development [2]. Outlook - ACM maintains its revenue guidance for fiscal year 2025 in the range of $850 million to $950 million, considering factors such as international trade policy and customer spending scenarios [3][11]. - The company anticipates incremental revenue contributions from various tools and expects a return to year-on-year growth in total shipments for the second quarter of 2025 [6][11]. Product and Regional Performance - Total shipments in Q1 2025 were $157 million, down from $245 million in Q1 2024, attributed to customer pull-ins in the previous quarter [6]. - Revenue from single wafer cleaning, Tahoe, and semi-critical cleaning equipment was $129.6 million, while ECP and other technologies contributed $27.6 million [23]. - Revenue from mainland China was $169.1 million, compared to $152.1 million in the previous year [23].