ACM Research, Inc. reported significant financial growth in its latest 10-Q filing for the second quarter of 2026, with total revenue reaching $292.9 million, a 36% increase from $215.4 million in the same period last year. For the first half of 2026, revenue totaled $524.2 million, up 35.2% from $387.7 million in the first half of 2025. The company attributed this growth primarily to increased sales of its ECP (electro-chemical plating) and advanced packaging technologies, which saw substantial demand from mainland China-based customers looking to expand production capacity in the global semiconductor market.
The company's net income for the second quarter was $122.3 million, compared to $36.3 million in the prior year, marking a 237% increase. For the first half of 2026, net income was $148.5 million, up from $61.3 million in the same period of 2025. This growth in profitability was supported by a gross margin of 46.0% for the second quarter, although it represented a slight decline from 48.5% in the previous year, attributed to changes in product mix and increased costs.
In terms of strategic developments, ACM Research completed a registered direct offering on May 15, 2026, raising approximately $148.4 million through the sale of 2.9 million shares of Class A common stock. Additionally, the company announced plans for ACM Shanghai to pursue an initial public offering (IPO) on the Hong Kong Stock Exchange, which could further enhance its capital structure and market presence. The company also acquired a new facility in Shanghai for $45.9 million, financed through a loan agreement with the Bank of China.
Operationally, ACM Research reported an increase in its customer base, with a total of 1,590 tools delivered to customers since 2009, of which 1,430 were repeat orders. The company continues to focus on expanding its market share in North America and Europe, while maintaining a strong presence in Asia, where it derives the majority of its revenue. As of June 30, 2026, ACM Research had cash and cash equivalents of $990.6 million, a significant increase from $766.0 million at the end of 2025, providing a solid liquidity position to support future growth initiatives.
Looking ahead, ACM Research anticipates continued growth driven by the expanding semiconductor market, which is projected to reach $152.5 billion in 2026, according to Frost & Sullivan. The company plans to invest in research and development to enhance its product offerings and maintain its competitive edge in the industry. However, it also acknowledges potential risks related to regulatory changes in mainland China and the global economic environment 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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