ACM Research 2025 Q3 Earnings Strong Revenue Growth, Record Net Income Surpasses Expectations

ACM Research (ACMR), ranked by market capitalization, reported fiscal 2025 Q3 earnings on Nov 5, 2025. The company delivered robust financial results, with revenue and net income exceeding expectations.

ACM Research’s Q3 2025 revenue surged 32% year-over-year to $269.16 million, surpassing consensus estimates. The company narrowed its full-year 2025 revenue guidance to $875 million–$925 million, reflecting confidence in sustained growth despite supply chain and trade policy headwinds.

Revenue

ACM Research’s revenue growth was driven by strong demand across its product portfolio. Single wafer cleaning, Tahoe, and semi-critical cleaning equipment accounted for the largest share at $181.57 million, while ECP (front-end and packaging), furnace, and other technologies contributed $59.85 million. Advanced packaging (excluding ECP), services, and spares added $27.74 million, completing the $269.16 million total revenue. The shift in product mix highlights the company’s strategic pivot toward higher-growth segments like advanced packaging and ECP.

Earnings/Net Income

Earnings per share (EPS) increased 14.3% to $0.56, with net income reaching $46.40 million—a 20% year-over-year increase and a nine-year record for Q3. The company’s profitability reflects operational efficiencies and strong demand for its tools in AI and datacenter applications.

Post-Earnings Price Action Review

The strategy of buying ACM shares post-earnings and holding for 30 days has historically delivered strong returns, with a 39% gain over three months and a 111% total shareholder return over a year. However, the stock’s current price of $41.22 exceeds its estimated fair value of $31.92, suggesting overvaluation. Risks include reliance on China’s semiconductor market and potential supply chain disruptions.

CEO Commentary

Dr. David Wang highlighted 32% revenue growth driven by AI and datacenter demand, emphasizing advancements in horizontal plating for panel-level packaging and high-temperature SPM technology. The CEO reiterated a $4 billion long-term revenue target, supported by ACM Shanghai’s $623 million capital raise to accelerate R&D and expand production capacity.

Guidance

ACM Research narrowed its 2025 revenue outlook to $875 million–$925 million, citing trade policy impacts, customer spending scenarios, and supply chain constraints. The company maintains its gross margin target of 42%–48% and long-term revenue ambition.

Additional News

ACM Shanghai’s $623 million capital raise, announced in September, will fund next-gen tool development and production capacity expansion. The CEO emphasized strategic investments in panel-level packaging and high-temperature SPM platforms. Additionally, ACM Shanghai distributed a $36.8 million cash dividend to shareholders in Q3. The company’s Oregon facility upgrades and Lingang mini-line expansion underscore its commitment to global production capabilities.