ACM Research, Inc. reported a total revenue of $901.3 million for the fiscal year ending December 31, 2025, marking a 15.2% increase from $782.1 million in 2024. The company's net income attributable to ACM Research was $94.1 million, or $1.47 per share, down from $103.6 million, or $1.67 per share, in the previous year. The decline in net income was attributed to increased costs of revenue, which rose by 28.3% to $501.2 million, primarily due to higher sales volume and a shift in revenue mix among product categories. Gross margin decreased to 44.4% from 50.1% in 2024, reflecting these changes.
In terms of operational developments, ACM Research's revenue growth was driven by significant increases in sales of single wafer cleaning equipment, which accounted for approximately 69.5% of total revenue, and ECP (electrochemical plating) technologies, which saw a 32.1% increase in revenue. The company continues to focus on the mainland China market, where it generated $898 million in revenue, representing 99.7% of total sales. The company has also expanded its product offerings and customer base, with a notable increase in advanced packaging and services, which contributed $75.8 million to total revenue, a 45.3% increase from the previous year.
Strategically, ACM Research completed a private offering in September 2025, raising approximately $623 million, which will be used for research and development, capital expenditures, and working capital. This capital infusion has allowed the company to enhance its operational capabilities and support its growth initiatives. Additionally, ACM Shanghai, the company's principal operating subsidiary, was added to the U.S. Bureau of Industry and Security's Entity List, which imposes restrictions on the export of certain technologies to the subsidiary. This regulatory change may impact ACM's ability to procure necessary components and could affect future production plans.
As of December 31, 2025, ACM Research employed 2,513 full-time equivalent employees, a 24% increase from the previous year. The company continues to invest in its workforce to support its growth and technological advancements. Looking ahead, ACM Research anticipates continued revenue growth driven by increased demand for semiconductor manufacturing equipment, particularly in the Asia-Pacific region. However, the company also acknowledges potential risks related to regulatory changes, market conditions, and supply chain disruptions that could impact its operations and financial performance.
About ACM Research, Inc.
ACM Research, Inc. is a semiconductor equipment company specializing in advanced capital equipment for the global semiconductor industry. Its key products include innovative wet-cleaning tools and advanced packaging solutions, addressing an estimated $18 billion market opportunity. Targeting major chip manufacturers in Asia, ACM is expanding its global presence. The company emphasizes proprietary technologies like SAPS and TEBO, focusing on environmental sustainability and efficiency in semiconductor manufacturing processes.
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