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]

Core Viewpoint - ACM Research, Inc. reported strong financial results for Q2 2025, with revenue growth and improved gross margins, while also highlighting advancements in technology and expansion plans in both China and global markets [2][3][11]. Financial Performance - Revenue for Q2 2025 was $215.4 million, a 6.4% increase from $202.5 million in Q2 2024 [11]. - Gross margin improved to 48.5% from 47.8% year-over-year, exceeding the company's long-term target range of 40% to 45% [11]. - Operating income decreased to $31.7 million from $37.6 million, with an operating margin of 14.7% compared to 18.6% in the previous year [11]. - Net income attributable to ACM Research, Inc. was $29.8 million, up from $24.2 million in Q2 2024, resulting in a diluted EPS of $0.44 compared to $0.35 [11][17]. Product and Technology Developments - The company announced major upgrades to its Ultra C wb Wet Bench cleaning tool, which features a patent-pending nitrogen bubbling technology that enhances etching rate uniformity by over 50% [4][11]. - ACM delivered its 1,500th electroplating chamber, marking a significant milestone in its growth in plating technology adoption [5]. Market Outlook - ACM maintains its revenue guidance for fiscal year 2025 in the range of $850 million to $950 million, reflecting ongoing assessments of international trade policies and customer spending [3]. - The company is experiencing continued momentum in its product lines, particularly in China, and has raised its long-term revenue target for the mainland China market [2][3]. Operational Highlights - Total shipments in Q2 2025 were $206.4 million, a 1.9% increase from Q2 2024 [4]. - The company is making strides in global expansion, with several tool deliveries planned to the U.S. in Q3 2025 [2].

Core Insights - ACM Research, Inc. has announced significant upgrades to its Ultra C wb cleaning tool, incorporating a patent-pending nitrogen bubbling technique to enhance wet etching uniformity and cleaning performance [1][2]. Group 1: Technology Enhancements - The upgraded Ultra C wb tool features nitrogen (N2) bubbling technology that addresses issues of poor wet etching uniformity and by-product regrowth commonly found in conventional wet bench processes [2]. - The N2 bubbling technique improves the transport efficiency of phosphoric acid and promotes uniformity in temperature, concentration, and flow velocity within the wet etching bath [2]. - This technology is particularly applicable in the manufacturing processes for 3D DRAM, 3D logic, and 500+ layer 3D NAND devices [2]. Group 2: Performance Improvements - The Ultra C wb platform enhances within-wafer and wafer-to-wafer wet etching uniformity by more than 50% compared to conventional batch processes [6]. - The advanced cleaning capabilities of the Ultra C wb platform have demonstrated effective removal of organic residues from special phosphoric acid additives in advanced-node processes [6]. - The upgraded tool is qualified for three layers of advanced-node processes, including stack silicon nitride removal and channel hole polysilicon etch back [6]. Group 3: Proprietary Technology - The nitrogen bubbling technology generates large-size bubbles with good uniformity, with bubble density being precisely controllable [6]. - The N2 bubbling core technology can also be applied to ACM's Ultra C Tahoe platform, addressing future process requirements for customers [6]. Group 4: Market Position - ACM Research, Inc. is a leading supplier of wafer and panel processing solutions for semiconductor and advanced packaging applications, committed to delivering high-performance, cost-effective process solutions [1][7].