ACM Research 2025 Q2 Earnings Strong Performance as Net Income Surges 15.5%

ACM Research reported a strong set of results for Q2 2025, with both revenue and net income rising year-over-year. The company reaffirmed its full-year revenue guidance, signaling in-line expectations with its long-term outlook and market conditions.

Revenue
ACM Research’s total revenue rose 6.4% to $215.37 million in the second quarter of 2025, compared to $202.48 million in the same period of 2024. Single wafer cleaning, Tahoe, and semi-critical cleaning equipment remained the largest contributor, generating $154.96 million in revenue. ECP (front-end and packaging), furnace, and other technologies followed closely with $48.02 million. Meanwhile, advanced packaging (excluding ECP), services, and spares accounted for $12.39 million of the total revenue.

Earnings/Net Income
Earnings per share (EPS) increased by 20.5% to $0.47 in Q2 2025, up from $0.39 in Q2 2024. The company’s net income also showed robust growth, reaching $36.27 million, a 15.5% increase compared to $31.40 million a year ago. This marked a record-high Q2 net income for ACM Research, setting a new nine-year benchmark for profitability.

Price Action
The stock price of ACM Research saw a 4.35% drop during the latest trading day and a 6.41% decline over the most recent full trading week. However, the stock has posted a 6.62% gain on a month-to-date basis, indicating some short-term volatility amid broader trends.

Post-Earnings Price Action Review
The post-earnings price action for ACM Research over the past three years revealed a strategy of purchasing shares following a revenue increase and holding for 30 days generated a 41.54% return. Though it underperformed the benchmark by 6.06%, the strategy demonstrated a low-risk profile with no maximum drawdown and a Sharpe ratio of 0.55, making it an attractive option for investors seeking stable, consistent returns with limited volatility.

CEO Commentary
Dr. David Wang, President and CEO of ACM Research, highlighted the company’s strong execution across its product portfolio in the first half of 2025. He noted continued momentum from SPM, Tahoe, plating, and furnace tools, while new engagements in Track, PECVD, and panel-level packaging are gaining traction. The CEO also pointed to recent repeat orders for the upgraded Ultra C wb Wet Bench cleaning tool, emphasizing the company’s innovation in advanced 3D semiconductor manufacturing and its readiness to meet AI-driven demand globally.

Guidance
ACM Research maintains its 2025 revenue guidance range of $850 million to $950 million. The guidance accounts for international trade policy impacts, customer spending patterns, supply chain constraints, and the timing of first tool acceptances. The company emphasized no changes to its outlook, reflecting confidence in its current market assessment and operational progress.

Additional News
On April 29, 2025, ACM Research announced preliminary unaudited revenue expectations for Q1 2025, projecting a range of $165 million to $170 million—representing year-over-year growth of 8.4% to 11.7%. Preliminary total shipments were expected to be between $154 million and $157 million, a year-over-year decline of 36% to 37%, attributed to customer pull-ins in Q4 2024. The company reiterated its full-year revenue outlook of $850 million to $950 million. ACM reaffirmed its 81.1% equity stake in ACM Research (Shanghai), Inc., noting that ACM Shanghai contributes a substantial majority of the company’s consolidated revenue and net income. The financial results of ACM Shanghai, reported under Chinese GAAP, differ from the U.S. GAAP figures used in ACM’s consolidated reporting. The company will provide full Q1 2025 results during its earnings call on May 8, 2025.