ACM Research (ACMR) investor relations material

Executive summary

• Q2 2026 revenue reached $292.9 million, up 36% year-over-year, driven by strong growth in ECP and advanced packaging, while single wafer cleaning declined.

• Shipments also increased 36% year-over-year, with the 2,000th electroplating chamber shipped, marking significant adoption.

• Net income attributable to shareholders more than doubled to $89.0 million, reflecting higher operating profit and significant unrealized investment gains.

• The company is transforming into a multi-product semiconductor equipment supplier, investing in panel-level packaging, global expansion, and R&D.

• Ended the quarter with $1.0 billion in net cash, supporting long-term growth initiatives.

Financial highlights

• Q2 2026 revenue was $292.9 million (+36% YoY); shipments were $281.5 million (+36.4% YoY).

• Gross margin was 46.0% (down from 48.5% YoY); non-GAAP gross margin also 46.0%.

• Operating income was $49.7 million (17.0% margin), up from $31.7 million; non-GAAP operating margin was 19.2%.

• Net income attributable to shareholders was $89.0 million, up from $29.8 million; diluted EPS was $1.23, non-GAAP EPS was $0.61.

• Cash, equivalents, and deposits totaled $1.36 billion at quarter-end; net cash was $1.0 billion.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $1.125–$1.175 billion, implying 25%-30% year-over-year growth.

• Shipment growth is expected to outpace revenue growth in 2026.

• Gross margin expected to remain between 42% and 48% for the foreseeable future.

• Management expects continued growth driven by new product cycles, market share gains, and global market contributions.

• Effective tax rate for 2026 expected in the 10%-12% range.