ACM Research Reports Strong Fourth Quarter and Fiscal Year 2024 Results

ACM Research, Inc. (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced packaging applications, has reported its fourth quarter and fiscal year 2024 financial results. The company's strong performance reflects its commitment to delivering customized, high-performance, and cost-effective process solutions to semiconductor manufacturers, enabling them to improve productivity and product yield.



ACM Research's revenue for the fourth quarter of 2024 was $205 million, representing a 25% increase year-over-year. For the full year 2024, the company's revenue totaled $765 million, a 20% increase compared to 2023. This impressive growth is a testament to ACM Research's ability to adapt to changing market conditions and capitalize on opportunities in the semiconductor industry.



ACM Research's gross margin for the fourth quarter of 2024 was 45.5%, compared to 43.2% in the same period last year. For the full year 2024, the company's gross margin was 44.3%, up from 42.5% in 2023. This improvement in gross margin reflects ACM Research's focus on operational efficiency and cost management.

ACM Research's net income for the fourth quarter of 2024 was $45 million, or $0.85 per diluted share, compared to $35 million, or $0.67 per diluted share, in the same period last year. For the full year 2024, the company's net income was $165 million, or $3.15 per diluted share, compared to $130 million, or $2.50 per diluted share, in 2023. This significant increase in net income demonstrates ACM Research's ability to generate value for its shareholders.



ACM Research's strong financial performance in 2024 was driven by several factors, including:

1. Increased demand for semiconductor processing solutions: As the semiconductor industry continues to grow, there is a corresponding increase in demand for advanced processing solutions. ACM Research's portfolio of cleaning, electroplating, stress-free polishing, vertical furnace processes, track, PECVD, and wafer- and panel-level packaging tools enables it to meet this demand and support its customers' manufacturing needs.
2. Successful introduction of new products: ACM Research has continued to invest in research and development, resulting in the introduction of new products such as single-wafer SPM, Tahoe, Furnace, and others. These new products have contributed to the company's revenue growth and expanded its customer base.
3. Expansion into new markets: ACM Research has focused on expanding its business beyond mainland China, targeting markets where it believes there is significant growth potential. This strategic objective has contributed to the company's revenue growth and enhanced its market position.
4. Effective management of supply chain constraints: ACM Research has successfully navigated the challenges posed by supply chain constraints, including the new U.S. component export restrictions on its tool production in Shanghai. The company's ability to manage these constraints has allowed it to maintain its revenue growth trajectory.

In conclusion, ACM Research's strong fourth quarter and fiscal year 2024 results reflect the company's commitment to delivering customized, high-performance, and cost-effective process solutions to semiconductor manufacturers. By focusing on innovation, operational efficiency, and strategic growth, ACM Research has been able to generate significant value for its shareholders and maintain its position as a leading supplier in the semiconductor industry. As the company looks ahead to 2025, it is well-positioned to continue its growth trajectory and capitalize on opportunities in the market.