ACM Research Updates 2023 Revenue Outlook and Provides Initial Outlook for 2024 Revenue
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The revision of ACM Research, Inc.'s revenue outlook for 2023 and the projection for 2024 signify a bullish stance from the company on its operational performance and market demand. The increase from a high of $540 million to $545 million, while seemingly modest, suggests that the company is experiencing slightly better-than-expected demand for its wafer processing solutions. The projection for 2024 indicates a more substantial growth expectation, potentially by as much as 35.5% at the high end of the range.
Investors should consider the impact of international trade policies and supply chain constraints mentioned by ACM management, as these factors can be volatile and may affect the company's ability to meet its revenue targets. The company's focus on expanding its multi-product portfolio and its efforts to grow its customer base beyond mainland China are strategic moves that could diversify its revenue streams and reduce geographical concentration risks.
However, it is important to note that these figures are forward-looking and subject to change. The actual performance could vary based on a multitude of factors, including market conditions and operational execution. Stakeholders should also be aware that these projections have not yet been audited and are therefore not final.
The semiconductor industry is known for its cyclical nature and ACM's positive revenue outlook could reflect broader industry trends such as increased spending on mature node capacity. This is particularly relevant as the global demand for semiconductors continues to grow, driven by advancements in technology and new applications in sectors such as automotive and IoT.
ACM's emphasis on mature node capacity investment by China-based customers aligns with the global semiconductor industry's current phase, where there is a notable demand for mature technologies in various applications. This strategic focus might give ACM a competitive edge in serving a market segment that is sometimes overlooked in favor of cutting-edge technology but is still critical for a wide range of electronic devices.
ACM's expansion plans and customer diversification efforts could mitigate risks associated with overreliance on a single market. However, the success of these initiatives will depend on the company's ability to navigate the competitive landscape and effectively penetrate new markets, which is not without challenges.
ACM's acknowledgment of supply chain constraints as a factor in its revenue projections indicates an awareness of the ongoing global challenges in the semiconductor supply chain. The company's ability to anticipate and manage these constraints will be crucial to achieving its revenue targets. Factors such as raw material availability, logistics and geopolitical tensions can significantly impact the semiconductor supply chain's stability.
Given the complexity of semiconductor manufacturing and the precision required in wafer processing, any disruption in the supply chain can lead to delays and increased costs. ACM's ability to maintain strong relationships with suppliers and to develop contingency plans will be essential in managing these risks.
Additionally, the timing of acceptances for first tools under evaluation in the field is a critical aspect that could affect revenue recognition. Delays in these acceptances could defer revenue, impacting financial results. It is essential for ACM to maintain a robust pipeline and to manage customer expectations effectively to minimize the risk of delayed acceptances.
—Updates 2023 Revenue Outlook to
—Projected 2024 Revenue of
—ACM to Participate at Upcoming Conference and Event—
FREMONT, Calif., Jan. 09, 2024 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today has updated its full year 2023 revenue outlook to a range of
ACM also announced that it expects revenue for the full year 2024 to be in the range of
“We expect continued growth in 2024 as we continue on our mission to become a key supplier to major semiconductor manufacturers,” said Dr. David Wang, ACM’s President and Chief Executive Officer. “We anticipate solid investments in mature node capacity by our China-based customers, and we remain committed to expanding our multi-product portfolio. We are making good progress with customers in markets beyond mainland China which we believe will begin to contribute to our business in the coming years.”
ACM plans to release its fourth quarter and full year 2023 financial results in late February 2024. The 2023 revenue outlook included in this press release is preliminary. Actual fourth quarter and full year 2023 revenue results are subject to review and audit procedures by ACM’s independent registered public accounting firm.
Upcoming Conferences and Events
ACM will be participating in a virtual investor group meeting hosted by UBS on January 10, 2024 (China time) and virtual 1x1 meetings on January 16, 2024 (U.S. time) at the 26th Annual Needham Growth Conference.
About ACM Research, Inc.
ACM develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing and thermal processes that are critical to advanced semiconductor device manufacturing, as well as wafer-level packaging. 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.acmrcsh.com.
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.
© ACM Research, Inc. The ACM Research logo is trademark of ACM Research, Inc. For convenience, this trademark appears in this press release without a ™ symbol, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to such trademark.
For investor and media inquiries, please contact:
| In the United States: | The Blueshirt Group | |
| Yujia Zhai | ||
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| In China: | The Blueshirt Group Asia | |
| Gary Dvorchak, CFA | ||
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FAQ
What is ACM Research, Inc.'s updated 2023 revenue outlook and projected 2024 revenue?
When will ACM Research, Inc. release its fourth quarter and full year 2023 financial results?
What upcoming conferences and events is ACM Research, Inc. participating in?
