ACM Research Reports Second Quarter 2026 Results
Rhea-AI Summary
ACM Research (NASDAQ: ACMR) reported second quarter 2026 revenue of $292.9 million, up 36.0% year over year, driven by higher sales of ECP, furnace, other technologies, advanced packaging, and services & spares. GAAP gross margin was 46.0% versus 48.5% a year ago, above the mid-point of its long-term 42%–48% target range.
GAAP operating income rose to $49.7 million from $31.7 million, and GAAP net income attributable to ACM Research increased to $89.0 million from $29.8 million, helped by a $69.6 million unrealized gain on short-term investments. Non-GAAP net income attributable to ACM Research was $44.5 million versus $37.3 million. Diluted EPS was $1.23 (non-GAAP $0.61) compared with $0.44 (non-GAAP $0.55).
Cash, restricted cash and short-term time deposits totaled $1.36 billion at June 30, 2026, with net cash of $1.0 billion. Total shipments reached $281.5 million, up 36.4%. ACM raised its full-year 2026 revenue outlook to $1.125–$1.175 billion, implying 25%–30% growth, and highlighted milestones including shipment of its 2,000th electroplating chamber and new orders for its Ultra ECP ap-p panel-level tools.
Positive
- Revenue up 36.0% year over year to $292.9 million in Q2 2026
- GAAP net income rose to $89.0 million from $29.8 million
- Non-GAAP net income attributable to ACM Research increased to $44.5 million from $37.3 million
- Diluted EPS grew to $1.23 (non-GAAP $0.61) from $0.44 (non-GAAP $0.55)
- Shipments of $281.5 million, up 36.4% year over year
- Raised 2026 revenue guidance to $1.125–$1.175 billion (25%–30% growth range)
- Net cash position reached approximately $1.0 billion at June 30, 2026
Negative
- GAAP gross margin declined to 46.0% from 48.5% year over year
- Non-GAAP operating margin edged down to 19.2% from 19.3%
- Operating expenses increased 16.6% to $84.9 million
- Income tax expense rose to $13.5 million from $1.9 million
- Lower sales in single-wafer cleaning, Tahoe and semi-critical cleaning tools offset some growth
News Explained
Two new tool orders add scheduled deliveries, but customer acceptance determines when some shipped systems can become revenue.
ACM reported second-quarter results for the period ended
One order is for a production Ultra ECP ap-p tool scheduled for delivery in the
The
The stated resolution points are customer acceptance of those first tools and delivery of the evaluation and production systems on their scheduled timelines; management says acceptance timing is among the factors underlying its
Market reaction after 2Q26 earnings report: ACMR +11.93%
Following this news, ACMR has gained 11.93%, reflecting a significant positive market reaction. Our momentum scanner has triggered 2 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $88.40.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | First-quarter earnings | Positive | +6.9% | Revenue and shipments grew, while full-year guidance was reiterated. |
| Feb 26 | Annual earnings report | Negative | -16.7% | Operating income and shipments declined despite maintained 2026 revenue guidance. |
| Nov 05 | Third-quarter earnings | Negative | -19.9% | Gross margin declined and full-year guidance was narrowed. |
| Aug 06 | Second-quarter earnings | Positive | -15.3% | Revenue and net income increased, with guidance maintained. |
| Apr 29 | First-quarter revenue update | Positive | -11.0% | Preliminary revenue and shipments increased, while guidance was reaffirmed. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-matched earnings events produced mixed reactions, with three aligned outcomes and two divergences despite generally positive operating updates.
Key Terms
gaap financial
non-gaap financial
pecvd technical
electroplating chamber technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
FREMONT, Calif., Aug. 07, 2026 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today reported financial results for its second quarter ended June 30, 2026.
“We delivered a strong second quarter, with revenue and shipments both increasing
Dr. Wang continued, “Customer demand as demonstrated by increased order activity provides us with good visibility for the remainder of 2026. We see 2026 as a ‘Big Year’ for new products as we proceed with customer evaluations and product ramps across multiple platforms, including SPM Cleaning, Track, PECVD and horizontal panel-level plating for advanced packaging. At the same time, we are expanding engagement with global customers and making solid progress at our Oregon facility. We are raising our full-year 2026 revenue outlook for
| Three Months Ended June 30 | |||||||||||||||
| GAAP | Non-GAAP(1) | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (dollars in thousands, except EPS) | |||||||||||||||
| Revenue | $ | 292,919 | $ | 215,372 | $ | 292,919 | $ | 215,372 | |||||||
| Gross margin | 46.0 | % | 48.5 | % | 46.0 | % | 48.7 | % | |||||||
| Income from operations | $ | 49,743 | $ | 31,694 | $ | 56,326 | $ | 41,464 | |||||||
| Net income attributable to ACM Research, Inc. | $ | 88,984 | $ | 29,760 | $ | 44,516 | $ | 37,316 | |||||||
| Basic EPS | $ | 1.31 | $ | 0.47 | $ | 0.66 | $ | 0.58 | |||||||
| Diluted EPS | $ | 1.23 | $ | 0.44 | $ | 0.61 | $ | 0.55 | |||||||
| Six Months Ended June 30 | |||||||||||||||
| GAAP | Non-GAAP(1) | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (dollars in thousands, except EPS) | |||||||||||||||
| Revenue | $ | 524,182 | $ | 387,719 | $ | 524,182 | $ | 387,719 | |||||||
| Gross margin | 46.1 | % | 48.2 | % | 46.2 | % | 48.5 | % | |||||||
| Income from operations | $ | 85,920 | $ | 57,471 | $ | 98,124 | $ | 77,058 | |||||||
| Net income attributable to ACM Research, Inc. | $ | 106,291 | $ | 50,140 | $ | 68,484 | $ | 68,395 | |||||||
| Basic EPS | $ | 1.59 | $ | 0.79 | $ | 1.02 | $ | 1.08 | |||||||
| Diluted EPS | $ | 1.49 | $ | 0.74 | $ | 0.96 | $ | 1.01 | |||||||
(1) Reconciliations to U.S. generally accepted accounting principles (“GAAP”) financial measures from non-GAAP financial measures are presented below under “Reconciliation of GAAP to Non-GAAP Financial Measures.” Non-GAAP financial measures exclude stock-based compensation and, with respect to net income attributable to ACM Research, Inc. and basic and diluted earnings per share, also exclude unrealized gain on short-term investments and its impact to net income attributable to non-controlling interests.
Outlook
ACM has raised its revenue guidance range to
Operating Highlights and Recent Announcements
- Shipments. Total shipments in the second quarter of 2026 were
$281.5 million , up36.4% when compared to the second quarter of 2025. Total shipments include deliveries for revenue in the quarter and deliveries of first tool systems awaiting customer acceptance for potential revenue in future quarters. - Shipment of the 2,000th Electroplating Chamber. ACM shipped its 2,000th electroplating chamber, following shipment milestones of 500 chambers in 2022 and 1,500 chambers in 2025. The achievement underscores the continued commercial expansion and growing market recognition of ACM's electroplating solutions.
- Presented Proprietary High-Temperature SPM Cleaning Technology at SPCC 2026. ACM presented its proprietary high-temperature SPM cleaning technology at the Surface Preparation and Cleaning Conference (SPCC) 2026, showcasing particle performance of fewer than 15 particles at 15nm without requiring periodic DI water chamber cleaning. The technology is designed to improve yield and lower maintenance requirements for advanced GAA logic, DRAM and HBM applications.
- Expansion of the Ultra C Tahoe Wet Processing Platform. ACM has expanded its Ultra C Tahoe system into a multi-process wet processing platform, by adding advanced wet etch and monitor wafer reclaim applications for logic and memory manufacturing. The expanded platform has been adopted by leading semiconductor manufacturers, and the Tahoe Recycle application is running in volume production at customer facilities. This expanded Tahoe platform demonstrates the versatility of our hybrid architecture and its scalability for advanced semiconductor manufacturing. ACM will continue to drive world-class process performance and integrating environmental benefits into product development to help make advanced semiconductor manufacturing more efficient and sustainable.
- Received Orders for the Ultra ECP ap-p Tool. ACM received the first production order for one 510 × 515 mm Ultra ECP ap-p tool from an existing advanced packaging customer in mainland China, with delivery scheduled for the first half of 2027. ACM also received an evaluation order for one 310 × 310 mm tool from a new leading panel-manufacturer customer based in Asia, with delivery scheduled for the fourth quarter of 2026.
Second Quarter 2026 Financial Summary
Unless otherwise noted, the following figures refer to the second quarter of 2026 and comparisons are with the second quarter of 2025.
- Revenue was
$292.9 million , up36.0% , primarily driven by higher sales of ECP (front-end and packaging), furnace and other technologies, and advanced packaging (excluding ECP), services & spares, partially offset by lower sales of single-wafer cleaning, Tahoe and semi-critical cleaning tools. - Gross margin was
46.0% versus48.5% . Non-GAAP gross margin, which excludes stock-based compensation, was46.0% versus48.7% . Gross margin was above the mid-point of ACM’s long-term business model target range of42% to48% . ACM expects gross margin to vary from period to period due to a variety of factors, such as product mix, currency impacts and sales volume. - Operating expenses were
$84.9 million , an increase of16.6% . Operating expenses as a percentage of revenue decreased to29.0% from33.8% . Non-GAAP operating expenses, which exclude the effect of stock-based compensation, were$78.5 million , up23.9% . Non-GAAP operating expenses as a percentage of revenue decreased to26.8% from29.4% . - Operating income was
$49.7 million , compared to$31.7 million . Operating margin was17.0% compared to14.7% . Non-GAAP operating income, which excludes the effect of stock-based compensation, was$56.3 million , compared to$41.5 million . Non-GAAP operating margin, which excludes stock-based compensation, was19.2% compared to19.3% . - Unrealized gain on short-term investments was
$69.6 million , compared to an unrealized gain of$2.7 million . Unrealized gain reflects the change in market value of the investments by ACM’s principal operating subsidiary, ACM Research (Shanghai), Inc. The value is marked-to-market quarterly and is excluded in the non-GAAP financial metrics. - Income tax expense was
$13.5 million , compared to$1.9 million . The change in tax expense primarily resulted from the tax effect of an increase in operating profit for the period. - Net income attributable to ACM Research, Inc. was
$89.0 million , compared to$29.8 million . Non-GAAP net income attributable to ACM Research, Inc., which excludes the effect of stock-based compensation and unrealized gain on short-term investments, was$44.5 million , compared to$37.3 million . - Net income per diluted share attributable to ACM Research, Inc. was
$1.23 , compared to$0.44 . Non-GAAP net income per diluted share, which excludes the effect of stock-based compensation and unrealized gain on short-term investments, was$0.61 , compared to$0.55 . - Cash and cash equivalents, plus restricted cash and short-term time deposits were
$1.36 billion at June 30, 2026, compared to$1.25 billion at March 31, 2026. Net cash, which excludes short-term and long-term borrowings, was$1.0 billion at June 30, 2026, compared to$924.2 million at March 31, 2026.
Conference Call Details
A conference call to discuss results will be held on Friday, August 7, 2026, at 8:00 a.m. Eastern Time (8:00 p.m. China Time). To join the conference call via telephone, participants must use the following link to complete an online registration process. Upon registering, each participant will receive email instructions to access the conference call, including dial-in information and a PIN number allowing access to the conference call. This pre-registration process is designed by the operator to reduce delays due to operator congestion when accessing the live call.
Online Registration: https://register-conf.media-server.com/register/BIc282607074af4b0895b2ed37fb7d0eb9
Participants who have not pre-registered may join the webcast by accessing the link at ir.acmr.com/news-events/events.
A live and archived webcast will be available on the Investors section of the ACM website at www.acmr.com.
Use of Non-GAAP Financial Measures
ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc. and basic and diluted earnings per share as supplemental measures to GAAP financial measures regarding ACM’s operational performance. These supplemental measures exclude the impact of stock-based compensation, which ACM does not believe is indicative of its core operating results. In addition, non-GAAP net income attributable to ACM Research, Inc. and basic and diluted earnings per share exclude the effect of stock-based compensation and unrealized gain (loss) on short-term investments, which ACM also believes are not indicative of its core operating results. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided below under “Reconciliation of GAAP to non-GAAP Financial Measures.”
ACM believes these non-GAAP financial measures are useful to investors in assessing its operating performance. ACM uses these financial measures internally to evaluate its operating performance and for planning and forecasting of future periods. Financial analysts may focus on and publish both historical results and future projections based on the non-GAAP financial measures. ACM also believes it is in the best interests of investors for ACM to provide this non-GAAP information.
While ACM believes these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures may not be reported by competitors, and they may not be directly comparable to similarly titled measures of other companies due to differences in calculation methodologies. The non-GAAP financial measures are not an alternative to GAAP information and are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. They should be used only as a supplement to GAAP information and should be considered only in conjunction with ACM’s consolidated financial statements prepared in accordance with GAAP.
Forward-Looking Statements
Certain statements contained in this press release 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 management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.
About ACM Research, Inc.
ACM develops, manufactures and sells semiconductor process equipment spanning cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools, enabling advanced and semi-critical semiconductor device manufacturing. ACM is committed to delivering customized, high-performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmr.com.
© ACM Research, Inc. Ultra C and the ACM Research logo are trademarks of ACM Research, Inc. For convenience, these trademarks appear in this press release without ™ symbols, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to the trademarks.
For investor and media inquiries, please contact:
| In the United States: | The Blueshirt Group |
| Steven C. Pelayo, CFA | |
| (360) 808-5154 | |
| steven@blueshirtgroup.co | |
| In China: | The Blueshirt Group Asia |
| Gary Dvorchak, CFA | |
| +86 (138) 1079-1480 | |
| gary@blueshirtgroup.co |
| ACM RESEARCH, INC. Condensed Consolidated Balance Sheets | ||||||
| June 30, 2026 | December 31, 2025 | |||||
| (Unaudited) | ||||||
| (In thousands) | ||||||
| Assets | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 969,229 | $ | 757,373 | ||
| Restricted cash | 21,358 | 8,589 | ||||
| Short-term time deposits | 365,055 | 366,591 | ||||
| Short-term investments | 105,091 | 35,524 | ||||
| Accounts receivables, net | 538,389 | 504,250 | ||||
| Other receivables | 66,820 | 48,655 | ||||
| Inventories, net | 783,119 | 702,631 | ||||
| Advances to related parties | 163 | 2,500 | ||||
| Prepaid expenses and other current assets | 25,554 | 10,567 | ||||
| Total current assets | 2,874,778 | 2,436,680 | ||||
| Property, plant and equipment, net | 384,593 | 314,830 | ||||
| Operating lease right-of-use assets, net | 16,634 | 17,925 | ||||
| Intangible assets, net | 2,516 | 2,847 | ||||
| Deferred tax assets | 25,904 | 29,389 | ||||
| Long-term investments | 89,249 | 66,035 | ||||
| Other long-term assets | 5,564 | 4,479 | ||||
| Total assets | $ | 3,399,238 | $ | 2,872,185 | ||
| Liabilities and Equity | ||||||
| Current liabilities: | ||||||
| Short-term borrowings | $ | 107,218 | $ | 74,041 | ||
| Current portion of long-term borrowings | 40,787 | 35,082 | ||||
| Related parties accounts payable | 29,799 | 32,060 | ||||
| Accounts payable | 220,601 | 215,440 | ||||
| Advances from customers | 165,566 | 187,809 | ||||
| Deferred revenue | 15,908 | 17,388 | ||||
| Income taxes payable | 3,626 | 991 | ||||
| FIN-48 payable | 28,908 | 27,719 | ||||
| Other payables and accrued expenses | 168,944 | 150,396 | ||||
| Current portion of operating lease liability | 4,907 | 4,786 | ||||
| Total current liabilities | 786,264 | 745,712 | ||||
| Long-term borrowings | 192,904 | 178,930 | ||||
| Long-term operating lease liability | 3,503 | 5,069 | ||||
| Other long-term liabilities | 11,444 | 11,965 | ||||
| Total liabilities | 994,115 | 941,676 | ||||
| Commitments and contingencies | ||||||
| Equity: | ||||||
| Stockholders’ equity: | ||||||
| Class A Common stock | 6 | 6 | ||||
| Class B Common stock | 1 | 1 | ||||
| Additional paid-in capital | 1,361,841 | 1,115,504 | ||||
| Retained earnings | 456,719 | 350,428 | ||||
| Statutory surplus reserve | 34,164 | 34,164 | ||||
| Accumulated other comprehensive loss | 7,423 | (35,740 | ) | |||
| Total ACM Research, Inc. stockholders’ equity | 1,860,154 | 1,464,363 | ||||
| Non-controlling interests | 544,969 | 466,146 | ||||
| Total equity | 2,405,123 | 1,930,509 | ||||
| Total liabilities and equity | $ | 3,399,238 | $ | 2,872,185 | ||
| ACM RESEARCH, INC. Condensed Consolidated Statements of Operations and Comprehensive Income | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| (Unaudited) | |||||||||||||||
| ( In thousands, except share and per share data) | |||||||||||||||
| Revenue | $ | 292,919 | $ | 215,372 | $ | 524,182 | $ | 387,719 | |||||||
| Cost of revenue | 158,301 | 110,911 | 282,326 | 200,708 | |||||||||||
| Gross profit | 134,618 | 104,461 | 241,856 | 187,011 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 23,778 | 22,102 | 44,466 | 38,445 | |||||||||||
| Research and development | 42,254 | 33,817 | 78,803 | 61,320 | |||||||||||
| General and administrative | 18,843 | 16,848 | 32,667 | 29,775 | |||||||||||
| Total operating expenses | 84,875 | 72,767 | 155,936 | 129,540 | |||||||||||
| Income from operations | 49,743 | 31,694 | 85,920 | 57,471 | |||||||||||
| Interest income | 7,142 | 4,013 | 11,861 | 7,352 | |||||||||||
| Interest expense | (2,059 | ) | (1,757 | ) | (3,992 | ) | (3,315 | ) | |||||||
| Realized gain on short-term investments | - | 54 | - | 54 | |||||||||||
| Unrealized gain on short-term investments | 69,592 | 2,730 | 68,186 | 1,648 | |||||||||||
| Other expense, net | (9,793 | ) | (346 | ) | (19,093 | ) | (608 | ) | |||||||
| Income from equity method investments | 21,097 | 1,773 | 22,846 | 2,725 | |||||||||||
| Income before income taxes | 135,722 | 38,161 | 165,728 | 65,327 | |||||||||||
| Income tax expense | (13,472 | ) | (1,891 | ) | (17,243 | ) | (4,044 | ) | |||||||
| Net income | 122,250 | 36,270 | 148,485 | 61,283 | |||||||||||
| Less: Net income attributable to non-controlling interests | 33,266 | 6,510 | 42,194 | 11,143 | |||||||||||
| Net income attributable to ACM Research, Inc. | $ | 88,984 | $ | 29,760 | $ | 106,291 | $ | 50,140 | |||||||
| Comprehensive income: | |||||||||||||||
| Net income | 122,250 | 36,270 | 148,485 | 61,283 | |||||||||||
| Foreign currency translation adjustment, net of tax of nil | 30,141 | 3,905 | 57,938 | 5,655 | |||||||||||
| Comprehensive Income | 153,066 | 40,175 | 207,098 | 66,938 | |||||||||||
| Less: Comprehensive income attributable to non-controlling interests | 41,477 | 7,250 | 57,644 | 12,207 | |||||||||||
| Comprehensive income attributable to ACM Research, Inc. | $ | 111,589 | $ | 32,925 | $ | 149,454 | $ | 54,731 | |||||||
| Net income attributable to ACM Research, Inc. per common share: | |||||||||||||||
| Basic | $ | 1.31 | $ | 0.47 | $ | 1.59 | $ | 0.79 | |||||||
| Diluted | $ | 1.23 | $ | 0.44 | $ | 1.49 | $ | 0.74 | |||||||
| Weighted average common shares outstanding used in computing per share amounts: | |||||||||||||||
| Basic | 67,890,917 | 63,968,763 | 66,853,350 | 63,620,235 | |||||||||||
| Diluted | 71,838,908 | 67,464,856 | 70,678,872 | 67,138,338 | |||||||||||
| ACM RESEARCH, INC. Total Revenue by Product Category | |||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||
| (Unaudited) | |||||||||||
| ($ in thousand) | |||||||||||
| Single wafer cleaning, Tahoe and semi-critical cleaning equipment | $ | 132,978 | $ | 154,961 | $ | 255,460 | $ | 284,530 | |||
| ECP (front-end and packaging), furnace and other technologies | 128,546 | 48,016 | 212,785 | 75,646 | |||||||
| Advanced packaging (excluding ECP), services & spares | 31,395 | 12,395 | 55,937 | 27,543 | |||||||
| Total Revenue By Product Category | $ | 292,919 | $ | 215,372 | $ | 524,182 | $ | 387,719 | |||
| ACM RESEARCH, INC. Reconciliation of GAAP to Non-GAAP Financial Measures |
As described under “Use of Non-GAAP Financial Measures” above, ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share as supplemental measures to GAAP financial measures, each of which excludes stock-based compensation (“SBC”) from the equivalent GAAP financial line items. In addition, non-GAAP net income attributable to ACM Research, Inc., and basic and diluted earnings per share exclude unrealized gain (loss) on short-term investments. The following tables reconcile gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share to the related non-GAAP financial measures:
| Three Months Ended June 30, | ||||||||||||||||||||||||
| 2026 | 2025 | |||||||||||||||||||||||
| Actual (GAAP) | SBC | Other non- operating adjustments | Adjusted (Non- GAAP) | Actual (GAAP) | SBC | Other non- operating adjustments | Adjusted (Non- GAAP) | |||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||
| Revenue | $ | 292,919 | $ | - | $ | - | $ | 292,919 | $ | 215,372 | $ | - | $ | - | $ | 215,372 | ||||||||
| Cost of revenue | (158,301 | ) | (177 | ) | - | (158,124 | ) | (110,911 | ) | (356 | ) | - | (110,555 | ) | ||||||||||
| Gross profit | 134,618 | (177 | ) | - | 134,795 | 104,461 | (356 | ) | - | 104,817 | ||||||||||||||
| Gross margin | 46.0 | % | 0.1 | % | - | 46.0 | % | 48.5 | % | 0.2 | % | - | 48.7 | % | ||||||||||
| Operating expenses: | ||||||||||||||||||||||||
| Sales and marketing | (23,778 | ) | (1,330 | ) | - | (22,448 | ) | (22,102 | ) | (2,096 | ) | - | (20,006 | ) | ||||||||||
| Research and development | (42,254 | ) | (1,532 | ) | - | (40,722 | ) | (33,817 | ) | (2,580 | ) | - | (31,237 | ) | ||||||||||
| General and administrative | (18,843 | ) | (3,544 | ) | - | (15,299 | ) | (16,848 | ) | (4,738 | ) | - | (12,110 | ) | ||||||||||
| Total operating expenses | (84,875 | ) | (6,406 | ) | - | (78,469 | ) | (72,767 | ) | (9,414 | ) | - | (63,353 | ) | ||||||||||
| Income (loss) from operations | 49,743 | (6,583 | ) | - | 56,326 | 31,694 | (9,770 | ) | - | 41,464 | ||||||||||||||
| Unrealized gain on short-term investments | 69,592 | - | 69,592 | - | 2,730 | - | 2,730 | - | ||||||||||||||||
| Less: Net income attributable to non-controlling interests | 33,266 | - | (18,541 | ) | 14,725 | 6,510 | - | (516 | ) | 5,994 | ||||||||||||||
| Net income (loss) attributable to ACM Research, Inc. | $ | 88,984 | $ | (6,583 | ) | $ | 51,051 | $ | 44,516 | $ | 29,760 | $ | (9,770 | ) | $ | 2,214 | $ | 37,316 | ||||||
| Basic EPS | $ | 1.31 | $ | 0.66 | $ | 0.47 | $ | 0.58 | ||||||||||||||||
| Diluted EPS | $ | 1.23 | $ | 0.61 | $ | 0.44 | $ | 0.55 | ||||||||||||||||
| Six Months Ended June 30, | ||||||||||||||||||||||||
| 2026 | 2025 | |||||||||||||||||||||||
| Actual (GAAP) | SBC | Other non- operating adjustments | Adjusted (Non- GAAP) | Actual (GAAP) | SBC | Other non- operating adjustments | Adjusted (Non- GAAP) | |||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||
| Revenue | $ | 524,182 | $ | - | $ | - | $ | 524,182 | $ | 387,719 | $ | - | $ | - | $ | 387,719 | ||||||||
| Cost of revenue | (282,326 | ) | (525 | ) | - | (281,801 | ) | (200,708 | ) | (885 | ) | - | (199,823 | ) | ||||||||||
| Gross profit | 241,856 | (525 | ) | - | 242,381 | 187,011 | (885 | ) | - | 187,896 | ||||||||||||||
| Gross margin | 46.1 | % | 0.1 | % | - | 46.2 | % | 48.2 | % | 0.2 | % | - | 48.5 | % | ||||||||||
| Operating expenses: | ||||||||||||||||||||||||
| Sales and marketing | (44,466 | ) | (2,822 | ) | - | (41,644 | ) | (38,445 | ) | (4,253 | ) | - | (34,192 | ) | ||||||||||
| Research and development | (78,803 | ) | (3,374 | ) | - | (75,429 | ) | (61,320 | ) | (5,355 | ) | - | (55,965 | ) | ||||||||||
| General and administrative | (32,667 | ) | (5,483 | ) | - | (27,184 | ) | (29,775 | ) | (9,094 | ) | - | (20,681 | ) | ||||||||||
| Total operating expenses | (155,936 | ) | (11,679 | ) | - | (144,257 | ) | (129,540 | ) | (18,702 | ) | - | (110,838 | ) | ||||||||||
| Income (loss) from operations | 85,920 | (12,204 | ) | - | 98,124 | 57,471 | (19,587 | ) | - | 77,058 | ||||||||||||||
| Unrealized gain on short-term investments | 68,186 | - | 68,186 | - | 1,648 | - | 1,648 | - | ||||||||||||||||
| Less: Net income attributable to non-controlling interests | 42,194 | - | (18,175 | ) | 24,019 | 11,143 | - | (316 | ) | 10,827 | ||||||||||||||
| Net income (loss) attributable to ACM Research, Inc. | $ | 106,291 | $ | (12,204 | ) | $ | 50,011 | $ | 68,484 | $ | 50,140 | $ | (19,587 | ) | $ | 1,332 | $ | 68,395 | ||||||
| Basic EPS | $ | 1.59 | $ | 1.02 | $ | 0.79 | $ | 1.08 | ||||||||||||||||
| Diluted EPS | $ | 1.49 | $ | 0.96 | $ | 0.74 | $ | 1.01 | ||||||||||||||||
