ACM Research Reports 32% Revenue Growth to $269.2 Million in Q3 2025

ACM Research, Inc. reported significant financial growth in its latest 10-Q filing for the third quarter of 2025, with total revenue reaching $269.2 million, a 32% increase from $204.0 million in the same period last year. For the nine months ending September 30, 2025, revenue was $656.9 million, up 17.6% from $558.6 million in 2024. The company’s net income attributable to shareholders also saw an increase, totaling $35.9 million for the third quarter, compared to $30.9 million in the prior year, while net income for the nine-month period rose to $86.0 million from $72.5 million.

The company’s gross profit for the third quarter was $113.1 million, reflecting a gross margin of 42%, down from 51.4% in the previous year, attributed to a higher cost of revenue and changes in product mix. Operating expenses increased to $84.2 million, up 38.9% year-over-year, driven by higher sales and marketing, research and development, and general administrative costs. The increase in operating expenses was partly offset by a rise in interest income, which reached $3.1 million, up from $3.0 million in the same quarter last year.

Strategically, ACM Research completed a private offering in September 2025, raising approximately $623 million, which will be allocated towards research and development, capital expenditures, and working capital. Following this offering, ACM Research's equity interest in its subsidiary, ACM Shanghai, decreased from 81.1% to 74.6%. The company also paid a cash dividend of approximately $36.8 million to shareholders, including $7.6 million to non-controlling interests.

Operationally, ACM Research continues to focus on expanding its market presence, particularly in North America and Europe, while maintaining a strong customer base in mainland China. The company reported a significant increase in sales of its single wafer cleaning and advanced packaging equipment, reflecting a commitment from its customers to enhance production capacity. As of September 30, 2025, ACM Research had cash and cash equivalents totaling $1.1 billion, a substantial increase from $411.3 million at the end of 2024, providing a solid foundation for future growth.

Looking ahead, ACM Research anticipates continued revenue growth driven by increased demand for its semiconductor manufacturing equipment. The company expects gross margins to stabilize between 42% and 48% in the near term, while also planning to invest in expanding its product portfolio and enhancing its operational capabilities. The management remains optimistic about the long-term prospects of the semiconductor market, despite potential regulatory challenges and market fluctuations.