What is the revenue and EPS growth rate for ACM Research year over year?

What factors drove the changes in ACM Research's revenue and profit?

What is the market's earnings forecast for ACM Research next quarter?

Did ACM Research beat or miss consensus estimates last quarter?

What guidance did ACM Research's management provide for the next earnings period?

What is ACM Research's latest dividend and current dividend yield?

What is ACM Research's gross profit margin?

What were the key takeaways from ACM Research’s earnings call?

- **Revenue Growth**: 15% FY2025, 25% 2026 guidance driven by new products like SPM cleaning (+50nm particle count) and supercritical CO2 dry tools. 
- **Profitability**: Gross margin 44.5% FY2025 (target 42-48%), improving in 2026H2. Operating margin 15.9% vs. 25.6% prior year. 
- **Strategic Moves**: 
  - $845M net cash to fund global expansion (Oregon facility, Singapore foundry tools). 
  - 30%+ growth from advanced packaging tools (3 global orders). 
  - China WFE leadership: 60%+ cleaning market share, 40%+ ECP. 
- **R&D Investment**: 15.1% of sales in 2025, targeting 16-18% in 2026 for AI-driven innovation.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 2025 revenue of $244M (+9.4% YoY), full-year $901.3M (+15.2% YoY). 2026 guidance: $1.08B-$1.175B (+25% YoY). 
- **New Product Momentum**: 
  - SPM cleaning tools achieve 50nm particle count (best-in-class), with repeat orders from major customers. 
  - Supercritical CO2 dry tools to deliver 40% CO2 savings; 2 demo POs for 2026. 
  - Panel-level plating tools (horizontal design) win interest from global AI chipmakers. 
- **Market Expansion**: 
  - First tool installation in Singapore for foundry customer. 
  - 3 global customers order advanced packaging tools (wafer & panel-level). 
  - China WFE market share targets: 60%+ for cleaning, 40%+ for ECP. 
- **Gross Margin**: Q4 41% (vs. 42-48% target), driven by semi-critical product margin pressure. 2026H2 improvement expected with new product ramps. 
- **R&D Investment**: 15.1% of sales in 2025, targeting 16-18% in 2026 for AI-driven tech development. 

**【CFO Financial Commentary】**
- **Profitability**: Full-year gross margin 44.5% (vs. 50.4% 2024), operating margin 15.9% (vs. 25.6%). 
- **Cash Position**: Net cash $845M (vs. $259M 2024), driven by $623M ACM Shanghai private offering. 
- **2026 Outlook**: 
  - Revenue +25% YoY. 
  - Gross margin to improve in 2H26. 
  - R&D spend 16-18% of sales, SG&A 7-8%. 
  - Tax rate 8-10%. 

**【Q&A Highlights】**
- **New Product Contribution**: Excluding new products, existing product revenue growth ~10-15% in 2026. 
- **Profitability Trends**: Operating margin compression due to R&D investment, but expects leverage in 2027+. 
- **Global Expansion**: 
  - Singapore foundry customer to drive Asian market expansion. 
  - U.S. Oregon facility to support local customer evaluations. 
  - $111M from ACM Shanghai share sale to fund global R&D & manufacturing. 
  - Panel-level packaging tools win interest from Taiwanese foundries for AI GPU production.

ACM Research, Inc. (ACMR) Q4 2025 Earnings Call Transcript

- **Revenue Surges**: Q3 2025 revenue up 32% YoY to $269 million, driven by new product shipments (SPM, panel-level plating, Track).
- **Gross Margin Challenges**: 42.1% due to smaller tool mix and inventory adjustments, but 42%-48% target maintained.
- **Capital Deployment**: $623M capital raise funds Lingang expansion and R&D for next-gen tools (furnace, PECVD, panel packaging).
- **2026 Growth Catalysts**: SPM, furnace, and panel-level packaging tools expected to contribute >$1B in China alone, targeting 60% market share.
- **Q4 Shipments Soft**: Component shortages and customer delays weigh on Q4, but 2026 outlook strong with new product ramp.
- **AI-Driven Innovation**: Horizontal plating for panel packaging, high-temperature SPM, and PECVD differentiation position ACM as a key supplier for AI/advanced packaging.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue reached $269 million, up 32% YoY, driven by strong demand across cleaning, ECP, and advanced packaging tools.
- **New Product Shipments**: First shipments of KrF Track, panel-level plating tools, and high-temperature SPM systems, with SPM achieving single-digit nanoparticle performance.
- **Capital Raise**: ACM Shanghai raised $623 million, supporting Lingang mini-line expansion and global production capacity.
- **Long-Term Outlook**: 2025 revenue guidance narrowed to $875-$925 million (midpoint +15% YoY), with new products (SPM, furnace, Track) expected to contribute significantly in 2026.

**【CFO Financial Commentary】**
- **Gross Margin**: 42.1% (low end of 42%-48% target), impacted by smaller front-end tool mix (-200bps) and inventory provisions (-300bps).
- **Operating Expenses**: $76.9 million (+56% YoY), with R&D/S&M/G&A at 14%/7.7%/6.9% of sales.
- **Net Income**: $24.8 million (non-GAAP EPS $0.36), down 41% YoY due to higher operating expenses and tax rate (7%-8% expected for 2025).
- **Cash Position**: $1.1 billion in cash, up from $484 million Q2, supporting inventory builds and capital expenditures.

**【Q&A Highlights】**
- **Shipments Delay**: Q4 shipments expected to decline sequentially due to customer delays and component shortages, but 2026 growth intact with new product ramp.
- **Panel-Level Packaging**: First tool shipment in Q4, targeting HBM memory and AI-driven 2.5D/3D integration. Horizontal plating technology wins innovation award, with 310x310mm and 515x515mm panel support.
- **SK Hynix Engagement**: Multiproduct engagement (cleaning, furnace, PECVD), with Tahoe and SPM tools addressing advanced 3D NAND requirements.
- **PECVD Momentum**: 3-truck-per-chamber design enables flexible process coverage, with shipments expected to accelerate in 2026 across China, Korea, and global markets.


ACM Research, Inc. (ACMR) Q3 2025 Earnings Call Transcript

- **Revenue Beats Expectations**: Q2 2025 revenue of $215M (+6% YoY), shipments up 32% QoQ, gross margin 48.7%.
- **Breakthrough Products**: Ultra C wb tool with N2 bubbling tech, SPM tool with <10nm particle control, horizontal plating system for AI chips.
- **China Dominance**: Raised China revenue target to $2.5B (from $1.5B), targeting 60% market share in cleaning/plating.
- **Global Ambitions**: Oregon facility for U.S. production, 2026 growth from furnace/PECVD tools, panel-level packaging adoption in Taiwan.
- **Supply Chain Resilience**: Strategic component purchases, multi-source suppliers to mitigate export controls.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 2025 revenue of $215 million (+6% YoY, +25% QoQ), shipments of $206 million (+2% YoY, +32% QoQ). Gross margin of 48.7% exceeded target range (42%-48%).
- **Product Highlights**: 
  - **Ultra C wb Tool**: Repeat orders with proprietary N2 bubbling tech for 3D NAND/DRAM, expected strong shipments in 2025-2026.
  - **SPM Tool**: Improved particle control (<10 at 26nm), gaining market share.
  - **Panel-Level Packaging**: Horizontal plating system with <5% uniformity, targeting AI chip manufacturing.
- **Long-Term Targets**: 
  - China WFE market size raised to $40B (from $30B), ACM's China revenue target increased to $2.5B (from $1.5B).
  - Global revenue target raised to $4B (from $3B), driven by new products like furnace, PECVD, and Track tools.
- **Capacity Expansion**: 
  - Lingang facility (Shanghai) nearing completion, supporting up to $3B annual production.
  - Oregon facility (40k sq ft) for R&D and production, targeting mid-2026 for commercial operations.

**【CFO Financial Commentary】**
- **Financial Results**: 
  - Non-GAAP net income: $36.8M (vs $37.5M YoY), EPS $0.54 (vs $0.55 YoY).
  - Gross margin: 48.7% (vs 48.2% YoY), driven by product mix and cost control.
  - Operating expenses: $63.4M (+38.8% YoY), R&D 14.5% of sales, sales/marketing 9.3%.
- **Cash Flow**: 
  - Net cash: $205.8M (vs $271M QoQ), inventory $648.3M (+$39M QoQ) due to strategic purchases.
  - 2025 capex guidance: $70M, including Lingang and Oregon expansions.
- **Tax Rate**: 10% for 2025, down from 19% in Q2.

**【Q&A Key Highlights】**
- **Shipment Growth**: Q3 strong, Q4 outlook positive; 2025 shipment growth achievable despite 2024's high base.
- **Supply Chain Risks**: 
  - Strategic component purchases to mitigate U.S. export controls.
  - Diversifying suppliers (China, non-U.S.), e.g., local Chinese components for furnace tools.
- **Global Expansion**: 
  - U.S. customer engagement for cleaning tools, Taiwan interest in panel-level packaging.
  - Oregon facility to support global demo/testing and reduce tariff impact.
- **China WFE Market**: 
  - 2025 China WFE expected ~$40B, driven by memory/logic fabs and IGBT production.
  - ACM's differentiated tech (e.g., N2 bubbling) positions for 60% market share in cleaning/plating.
- **2026 Outlook**: 
  - New products (furnace, PECVD, Track) to contribute; panel-level packaging tools in beta testing.
  - Global revenue growth driven by U.S./Taiwan expansion and China's long-term WFE spend.


ACM Research, Inc. (ACMR) Q2 2025 Earnings Call Transcript

- **Revenue Resilience**: 13% YoY growth to $172 million, driven by cleaning tools and advanced packaging.
- **Global Expansion**: Oregon facility and China market share (>25%) support $3B 2030 target.
- **Innovation Leadership**: Ultra ECP ap-p panel-level packaging tool wins industry award; UltraFN furnace achieves 1250°C for power semiconductors.
- **Financial Strength**: 48.2% gross margin beats target range; net cash up 5% to $271 million.
- **2025 Outlook**: Shipment growth expected post-Q1 2024 high base; new products (Track, PECVD) to accelerate 2026 growth.

**【CEO Business Overview】**
- **Revenue Growth**: Q1 2025 revenue reached $172 million, up 13% YoY, driven by strong demand for cleaning tools and advanced packaging solutions.
- **Market Expansion**: China market share in wafer cleaning exceeds 25%, with global share over 9%. Oregon facility expansion aims to reduce U.S. customer tariff risks and support global market penetration.
- **Product Highlights**: 
  - Ultra ECP ap-p tool wins 2025 3D InCites Award for panel-level packaging innovation.
  - UltraFN furnace tool achieves 1250°C temperature without wafer distortion, targeting power semiconductor applications.
  - Tahoe and SPM tools show strong product cycles, with Q1 qualification at leading Chinese logic customer.
- **Long-Term Vision**: $3 billion revenue target by 2030, split evenly between China and global markets, with new products (Track, PECVD) expected to contribute from 2026.

**【CFO Financial Review】**
- **Key Metrics**: 
  - Q1 GAAP net income: $31.3 million (down 10% YoY), non-GAAP EPS: $0.46.
  - Gross margin: 48.2% (exceeding 42-48% target range).
  - Operating expenses: $47.5 million (+18.4% YoY), driven by R&D and sales growth.
- **Cash Position**: Net cash of $271 million, up from $259 million at year-end 2024.
- **Inventory Management**: Finished goods inventory at $298.8 million, primarily tools under customer evaluation.

**【Q&A Key Takeaways】**
- **Shipment Outlook**: 2025 shipment growth expected despite Q1 2024's 60% YoY surge. Q2 shipment YoY growth anticipated, with H2 momentum from new products.
- **Tariff Impact**: Minimal impact due to local sourcing and third-party component usage. Oregon production to further mitigate risks.
- **2026 Growth Drivers**: New products (Track, PECVD, furnace) and market share gains in China and global markets.
- **Domestic Competition**: ACM's IP-protected, differentiated technology positions it above price-focused peers. Consolidation may create opportunities but not a focus for ACM.


ACM Research, Inc. (ACMR) Q1 2025 Earnings Call Transcript

- **Revenue & Margin Expansion**: 2024 revenue up 40% to $782M, 2025 outlook $850-950M. Gross margin target raised to 42-48%.
- **Product Momentum**: Tahoe tools qualified at 2 mainland China customers. 4 wafer-level packaging tools to ship H1 2025. Track & LPCVD beta tools expected late 2025.
- **Capital Strength**: ACM Shanghai stock worth $5.2B (81.5% owned), with $28.5M dividend in 2024 and 25-30% net profit payout commitment.
- **Market Leadership**: Cleaning systems capture ~9% of $6.5B global SAM. Plating market share ~30-35% in China.


**【CEO Opening Remarks】**
- ACM Shanghai and ACM Korea added to U.S. Entity List, impacting U.S. component sourcing but manageable through localized supply chain. 2024 revenue: $782M (+40%), shipments: $973M (+63%). 2025 outlook: $850-950M (+15% mid-point). Updated gross margin target: 42-48% (vs. prior 40-45%).

**【Product Line Highlights】**
- **Cleaning Systems**: 2024 revenue $579M (74% of total), 43% growth. Tahoe tools qualified at 2 mainland China customers. Global SAM $6.5B, ACM share ~9%.
- **ECP & Furnace**: 2024 revenue $160M (+46%). ARD furnace qualified at 17 customers. New panel-level packaging tools (horizontal plater, Bevel Etch) targeting GPU/HBM.
- **Advanced Packaging**: 2024 revenue $16.6M (+4%). 4 wafer-level packaging tools to ship H1 2025. Track & LPCVD beta tools expected late 2025.

**【Financial & Operational Updates】**
- Q4 2024: Revenue $223M (+31%), gross margin 49.8%, operating profit $52.8M (+46%). Full-year 2024: Net cash $259M, R&D/S&M spend 12-13% and 7-8% of revenue.
- ACM Shanghai stock worth $5.2B (81.5% owned), >3x ACMR market cap. 2023-24 dividends: $19.2M/$28.5M, with 25-30% net profit payout commitment.

**【Q&A Key Takeaways】**
- 2025 revenue range reflects customer spending uncertainty, with visibility through Q3 but Q4 still unclear. Plating market share ~30-35% in China. Advanced packaging growth driven by panel-level tools for GPU/HBM. No material impact from U.S. export controls yet, but ongoing customer evaluations.


ACM Research, Inc. (ACMR) Q4 2024 Earnings Call Transcript

ACM Research (ACMR)-7 Nov 24-2024 Q3 Earnings call transcript

ACM Research Inc - Ordinary Shares (ACMR)-7 Aug 24-2024 Q2 Earnings call transcript

ACM Research Inc - Ordinary Shares (ACMR)-8 May 24-2024 Q1 Earnings call transcript

- **Revenue Surge**: Q4 2023 revenue up 57% YoY, FY2023 up 43% YoY, driven by Tahoe tool adoption and delayed shipments resolution. 
- **Shipments Recovery**: 2024 shipments expected to grow faster than revenue, with $100+ million in delayed tools to ship. 
- **Product Momentum**: Tahoe tool qualified for mass production; ECP revenue surpasses $100 million. Track/PECVD tools in customer evaluations. 
- **Global Expansion**: Korea R&D center supports SK Hynix; first U.S. Tahoe tool qualified. 2024 international revenue contribution minimal but strategic. 
- **Financial Strength**: $304 million cash, 49.8% gross margin (FY2023), and 2024 CapEx of $80 million for factory expansion.

**【CEO Summary Section】**
- **Revenue Growth**: Q4 2023 revenue of $170 million (+57% YoY), FY2023 revenue of $558 million (+43% YoY). Operating margins were 21.2% (Q4) and 22.1% (FY2023). 
- **Shipments**: Q4 shipments $140 million (-29% YoY), FY2023 shipments $597 million (+11% YoY). Delayed tools (~$100 million) expected to ship in 2024. 2024 revenue guidance: $650-725 million (+23% midpoint YoY). 
- **Product Highlights**: Tahoe tool qualified for mass production at key customers; ECP revenue exceeded $100 million in FY2023. New Track and PECVD tools in evaluation with multiple customers. 
- **Market Strategy**: China WFE market growth ~15% in 2023; ACM targeting 40%+ share in cleaning tools. International expansion via Korea (250+ employees) and U.S. (Oregon facility). 

**【CFO Financial Commentary】**
- **Financial Performance**: Q4 2023 non-GAAP EPS $0.43, FY2023 EPS $1.63. Gross margin 46.8% (Q4) and 49.8% (FY2023). Operating expenses +31% YoY to $154 million, driven by R&D (+65% to $43 million). 
- **Balance Sheet**: $304 million cash at year-end. Inventory $545 million, ~80% expected to ship in 2024. 2024 CapEx ~$80 million for Lingang factory and global expansion. 
- **Tax Rate**: ~17% for FY2023, stable outlook. 

**【Q&A Highlights】**
- **International Expansion**: First U.S. customer qualified Tahoe tool; European evaluations underway. Korea R&D center supports SK Hynix engagement. 2024 international revenue contribution minimal but growing. 
- **Customer Concentration**: Top 3 customers (SMIC, SIE, CXMT) accounted for ~46% FY2023 revenue. Diversification efforts with 30%+ contribution from 2nd/3rd tier players. 
- **Supply Chain**: No material impact from U.S. export controls; all tools compliant with regulations. 
- **2024 Outlook**: China WFE growth ~15%; ACM targeting >20% revenue growth driven by new products (furnace, Track) and delayed shipments resolution.

Actual											0.0367	0.0967	0.14	0.0967	0.1167	0.0633	0.1867	0.27	-0.01	0.22	0.42	0.19	0.15	0.48	0.57	0.43	0.52	0.55	0.63	0.56	0.46	0.54	0.36	0.25
Forecast											0.0167	0.0624	0.1196	0.0873	0.0663	0.0928	0.1201	0.197	-0.0189	0.0633	0.2257	0.1674	0.029	0.1743	0.344	0.1639	0.3071	0.3429	0.3843	0.3954	0.3186	0.4853	0.5287	0.5049
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+119.76%	+54.97%	+17.06%	+10.77%	+76.02%	-31.79%	+55.45%	+37.06%	+47.09%	+247.55%	+86.09%	+13.50%	+417.24%	+175.39%	+65.70%	+162.36%	+69.33%	+60.40%	+63.93%	+41.63%	+44.38%	+11.27%	-31.91%	-50.49%

ACMR

ACMR fundamentals

ACMR Q4 2025 Earnings

Earnings Call

You can ask Aime

ACMR

ACMR fundamentals

ACMR Q4 2025 Earnings

Earnings Call

ACMR Earnings Call Summary for Q4/20258:00 AM on Feb 26, 2026

ACMR Earnings Call Summary for Q3/20258:00 AM on Nov 5, 2025

ACMR Earnings Call Summary for Q2/20258:00 AM on Aug 6, 2025

ACMR Earnings Call Summary for Q1/20258:00 AM on May 8, 2025

ACMR Earnings Call Summary for Q4/20248:00 AM on Feb 26, 2025

You can ask Aime