ACM Research Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue grew 37% YoY, with ECP and advanced packaging leading growth; backlog rose 88%. FY26 revenue guidance was raised to $1.24B–$1.28B, supported by strong orders, product cycles and capacity expansion.
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Q2 2026 saw 36% year-over-year revenue and shipment growth, led by advanced packaging and ECP products. Orders surged 105% in H1, and full-year revenue guidance was raised to $1.125–$1.175 billion, with shipment growth expected to outpace revenue. Gross margin remained strong at 46%.
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The meeting covered director elections and auditor ratification, with all proposals approved by a strong quorum. Board members and key executives were introduced, and voting outcomes confirmed the election of directors and auditor ratification.
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Q1 2026 revenue grew 34% year-over-year, driven by ECP and advanced packaging, with gross margin at 46.5%. Shipments outpaced revenue, and a strong product ramp is expected in 2026. Full-year guidance was reiterated, with robust cash and investment in R&D.
Fiscal Year 2025
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Revenue grew 15% in 2025, outpacing a flat China WFE market, with strong execution in core and new products. Gross margin declined due to product mix and competition but is expected to recover as new products ramp. 2026 revenue is guided up 25% at midpoint.
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Q3 2025 revenue rose 32% year-over-year to $269M, with gross margin at 42.1% and net income at $24.8M. Capital raised and new product launches support future growth, though short-term shipment delays and inventory write-downs impacted results. New products and capacity expansion are expected to drive 2026 growth.
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Q2 2025 saw strong sequential revenue growth, robust gross margins, and continued product innovation, especially in cleaning and plating tools. The company raised its long-term revenue target to $4 billion, driven by higher China WFE market assumptions and increased market share goals.
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Q1 2025 revenue grew 13% year-over-year to $172.3 million, with strong gross margin and continued innovation in cleaning and packaging tools. 2025 revenue guidance remains $850–$950 million, and shipment growth is expected, though at a slower pace than revenue.
Fiscal Year 2024
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Q4 and full-year 2024 saw strong revenue and margin growth, with robust performance in cleaning and plating segments. 2025 guidance projects continued double-digit growth, despite regulatory headwinds and supply chain localization. Four customers made up over half of revenue.
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Export controls are driving supply chain localization and a push for domestic sourcing in China, while the company targets $3 billion in revenue split between China and international markets. Product innovation in cleaning, plating, and advanced packaging underpins growth, with new global expansion efforts underway.
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Q3 2024 saw 21% revenue growth and strong margins, driven by innovation in cleaning and packaging tools. The 2024 outlook was raised, with robust demand in China and growing international traction. Gross margin is expected to remain above target.
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Q2 2024 revenue grew 40% year-over-year to $202.5M, with gross margin at 48.2% and strong cash flow. 2024 revenue guidance was raised, and new products for advanced packaging and AI applications were launched, supporting a new long-term $3B revenue target.