ACM Research Reports 13.2% Revenue Growth to $172.3 Million in Q1 2025

ACM Research, Inc. reported a significant increase in financial performance for the first quarter of 2025, with total revenue reaching $172.3 million, a 13.2% increase from $152.2 million in the same period of 2024. The company’s net income attributable to shareholders also rose to $20.4 million, compared to $17.4 million in the prior year, reflecting a 17.5% increase. The earnings per share for the quarter were $0.32 on a basic basis, up from $0.28 in the previous year. The growth in revenue was primarily driven by increased sales of single wafer cleaning equipment and ECP technologies, although there was a decline in advanced packaging services.

In terms of operational metrics, ACM Research reported a gross profit of $82.6 million, resulting in a gross margin of 47.9%, down from 52.0% in the prior year. The decrease in gross margin was attributed to a shift in revenue mix and a higher provision for inventory. Operating expenses increased to $56.8 million, up 5.4% from $53.9 million in the same quarter of 2024, with notable increases in sales and marketing and research and development expenses. The company’s total assets grew to $1.93 billion, up from $1.86 billion at the end of 2024, driven by higher cash and inventory levels.

ACM Research has also made strategic moves to enhance its market position, including a proposed private offering by its subsidiary, ACM Shanghai, which aims to raise up to $642.2 million. This offering, if completed, would dilute ACM Research's ownership in ACM Shanghai from 81.1% to approximately 74.6%. The company continues to focus on expanding its customer base in North America and Europe while maintaining a strong presence in Asia, where the majority of its sales are generated.

The company’s operational indicators showed a slight increase in customer engagement, with total shipments valued at $156.7 million for the quarter, compared to $245.6 million in the same period last year. The number of shares outstanding as of March 31, 2025, was 58.8 million for Class A common stock and 5.0 million for Class B common stock. ACM Research's cash and cash equivalents, along with short-term and long-term deposits, totaled $498.4 million, providing a solid liquidity position to support future growth initiatives.

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, despite the challenges posed by market conditions and potential regulatory changes. The management remains optimistic about leveraging its technological advancements and expanding its market share in the global semiconductor industry.