ACM Research, Inc. reported a significant increase in financial performance for the first quarter of 2026, with total revenue reaching $231.3 million, a 34.2% increase from $172.3 million in the same period of 2025. The company’s net income attributable to ACM Research, Inc. was $17.3 million, compared to $20.4 million in the prior year, reflecting a decrease of 15.3%. The diluted earnings per share were $0.24, down from $0.30 in the previous year. The increase in revenue was primarily driven by a substantial rise in sales of ECP (front-end and packaging) and advanced packaging technologies, which saw increases of 204.9% and 62.0%, respectively.
In terms of operational metrics, ACM Research experienced a notable increase in its customer base and product adoption rates. The company reported that it delivered over 1,500 tools to customers, with more than 1,330 being repeat orders. The total cash and cash equivalents, including restricted cash, rose to $894.1 million as of March 31, 2026, compared to $765.9 million at the end of 2025. This increase was attributed to strong financing activities, including the sale of approximately 4.8 million shares of ACM Shanghai, which generated approximately $110.2 million in gross proceeds.
The company’s operating expenses also increased, totaling $71.1 million for the first quarter of 2026, up from $56.8 million in the same period last year. This rise was driven by higher sales and marketing expenses, which increased by 26.6%, and research and development expenses, which rose by 32.9%. The increase in operating expenses reflects ACM Research's commitment to expanding its market presence and enhancing its product offerings. The company continues to invest in its research and development to maintain its competitive edge in the semiconductor industry.
Geographically, ACM Research remains heavily focused on the Asian market, with nearly all revenue derived from customers in mainland China. The company is actively working to expand its reach into North America and Europe, which is expected to contribute to future growth. As of March 31, 2026, ACM Research employed approximately 1,200 individuals, reflecting its ongoing investment in human capital to support its growth strategy.
Looking ahead, ACM Research anticipates continued growth driven by increased demand for its semiconductor manufacturing equipment. The company expects gross margins to remain between 42.0% and 48.0% in the near term, despite fluctuations in product mix and market conditions. Management remains optimistic about the company's prospects, citing a long-term commitment from customers to enhance production capacity and capture a larger share of the global semiconductor market.
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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