Q3 2025 Financial Performance - Revenue reached $269.2 million, a 32.0% year-over-year increase[9] - Total shipments amounted to $263.1 million, up 1% year-over-year[9] - GAAP gross margin was 42.0%, compared to 51.4% in Q3 2024[9] - Non-GAAP gross margin was 42.1%, versus 51.6% in Q3 2024[9] - GAAP operating income was $28.9 million, down 34.5% year-over-year, representing 10.7% of revenue[9] - Non-GAAP operating income was $36.5 million, a 34.9% decrease year-over-year, accounting for 13.6% of revenue[9] - Diluted GAAP earnings per share were $0.52, compared to $0.45 in Q3 2024[9] - Diluted non-GAAP earnings per share were $0.36, down from $0.63 in Q3 2024[9] Revenue Breakdown by Category - Cleaning revenue was $181.6 million, up 12.8%, representing 67% of total revenue[12] - ECP, Furnace & Other revenue was $59.9 million, a 73.0% increase, accounting for 22% of total revenue[12] - Advanced Packaging & Other revenue was $27.7 million, up 230.6%, making up 10% of total revenue[12] Future Outlook and Targets - The company updated its 2025 revenue guidance range to $875 million - $925 million[32] - The long-term revenue target is greater than $4 billion[16] - Estimated 2025 Serviceable Available Market (SAM) of $20 billion is addressed by the company's current product portfolio[14]

Financial Performance - Revenue reached $215.4 million, a 6.4% year-over-year increase[9] - Total shipments amounted to $206.4 million, up 1.9% year-over-year[9] - GAAP gross margin was 48.5%, compared to 47.8% in Q2 2024[9] - Non-GAAP gross margin was 48.7%, versus 48.2% in Q2 2024[9] - GAAP operating income was $31.7 million, down 15.7% year-over-year, representing 14.7% of revenue[9] - Non-GAAP operating income was $41.5 million, a 20.2% year-over-year decrease, accounting for 19.3% of revenue[9] - Diluted GAAP earnings per share were $0.44, compared to $0.35 in Q2 2024[9] - Diluted non-GAAP earnings per share were $0.54, slightly down from $0.55 in Q2 2024[9] Revenue Breakdown by Product Category - ECP, Furnace & Other contributed $155.0 million in revenue, up 1.1%, representing 72% of the revenue mix[13] - Cleaning products generated $48.0 million in revenue, a 23.2% increase, accounting for 22% of the revenue mix[13] - Advanced Packaging & Other brought in $12.4 million in revenue, up 20.4%, representing 6% of the revenue mix[13]

Q1 2025 Financial Performance - Revenue reached $172.3 million, a 13% year-over-year increase[9] - GAAP gross margin was 47.9%, compared to 52.0% in Q1 2024[9] - Non-GAAP gross margin was 48.2%, compared to 52.5% in Q1 2024[9] - GAAP operating income was $25.8 million, representing 15.0% of revenue, a 2.2% year-over-year increase[9] - Non-GAAP operating income was $35.6 million, representing 20.7% of revenue, a 10.6% year-over-year decrease[9] - Diluted GAAP earnings per share were $0.30, compared to $0.26 in Q1 2024[9] - Diluted non-GAAP earnings per share were $0.46, compared to $0.52 in Q1 2024[9] Revenue Breakdown by Product (Q1 2025) - Cleaning product revenue was $129.6 million, comprising 75% of total revenue, up 18.4%[13] - ECP, Furnace & Other product revenue was $27.6 million, comprising 16% of total revenue, up 7.1%[13] - Advanced Packaging & Other product revenue was $15.1 million, comprising 9% of total revenue, down 10.5%[13] Future Outlook and Targets - The company maintains its 2025 revenue guidance range of $850 million to $950 million[34] - The long-term revenue target is greater than $3 billion[18]

Supplemental Investor Presentation Earnings Release – Fourth Quarter and Fiscal Year 2024 February 26, 2025 Forward-Looking Statements. Certain statements contained in this presentation are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "plans," "expects," "believes," "anticipates," "designed," and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM ...

Core Viewpoint - ACM Research, Inc. reported strong financial performance for the fiscal year 2024, with significant revenue growth and operational milestones achieved, while maintaining a positive outlook for 2025 [2][3]. Financial Performance - Revenue for the fourth quarter of 2024 was $223.5 million, a 31.2% increase from $170.3 million in the fourth quarter of 2023 [6][22]. - For the full year 2024, revenue reached $782.1 million, up 40.2% from $557.7 million in 2023 [5][22]. - Gross margin for the fourth quarter was 49.6%, compared to 46.4% in the same quarter of 2023, while the full year gross margin was 50.1%, up from 49.5% [6][22]. - Operating income for the fourth quarter was $44.0 million, an increase of 88.2% compared to $23.4 million in the fourth quarter of 2023 [13][22]. - Net income attributable to ACM Research, Inc. for the fourth quarter was $31.1 million, compared to $17.7 million in the same quarter of 2023 [13][22]. Operational Highlights - Total shipments in 2024 were $973 million, reflecting a 63.1% increase [7]. - Major operational milestones included process qualification of Thermal and Plasma-Enhanced ALD furnace tools at two semiconductor customers in mainland China and the commencement of operations at the Lingang production facility [2][3]. - The company expects incremental revenue contributions from new product lines and increased localization in China [2]. Outlook - ACM maintains its revenue guidance for fiscal year 2025 in the range of $850 million to $950 million, considering various market factors [3]. - The long-term gross margin target has been updated to a range of 42% to 48% [3]. Product and Market Performance - Revenue from single wafer cleaning, Tahoe, and semi-critical cleaning equipment was $155.2 million in the fourth quarter of 2024, up from $122.3 million in the same quarter of 2023 [25]. - The majority of revenue in 2024 came from mainland China, totaling $775.8 million, compared to $540.9 million in 2023 [25]. Cash Flow and Financial Position - Cash flow from operations for the year was $152 million, with cash and cash equivalents totaling $441.9 million at year-end [2][6]. - Operating expenses for the full year increased by 33.4% to $240.6 million, but as a percentage of revenue, they decreased to 30.8% from 32.3% [6][22].

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% increase from $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% from $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% from $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% increase from the previous year, with fourth-quarter shipments at $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% increase from the previous year, but as a percentage of revenue, they decreased to 29.9% from 32.7% [6][18] Product and Market Expansion - ACM expanded its product portfolio and broadened its addressable markets, contributing to increased market share and customer engagement [2] - The company anticipates incremental revenue contributions from new product lines such as Tahoe, SPM, and Furnace, as well as increased localization efforts in China [2][3] - Revenue from single wafer cleaning, Tahoe, and semi-critical cleaning equipment was $155.2 million for the fourth quarter, up from $122.3 million in the same quarter of 2023 [20]