ACM Research (ACMR) investor relations material

Executive summary

• Q1 2026 revenue rose 34.2% year-over-year to $231.3 million, driven by strong ECP and advanced packaging demand, while single wafer cleaning sales declined.

• Shipments totaled $240.7 million, up 53.6% year-over-year, reflecting robust customer adoption and new product cycles.

• Gross margin was 46.4%–46.5%, above the midpoint of the long-term target range but down from the prior year due to product mix.

• Net income attributable to shareholders was $17.3 million, with non-GAAP net income at $24.3 million; diluted EPS was $0.24, non-GAAP $0.34.

• Announced ACM Planetary Family product portfolio and shipped first PECVD SiCN system to a leading manufacturer.

Financial highlights

• Revenue: $231.3 million, up 34.2% year-over-year; ECP and furnace tech up 204.9%, advanced packaging up 62%.

• Gross margin: 46.4%–46.5%, down from 47.9%–48.2% prior year.

• Operating income: $36.2 million–$41.8 million; operating margin 15.6%–18.1%.

• Cash, equivalents, and short-term deposits: $1.25 billion at quarter-end; net cash $924.2 million.

• Inventory: $738 million, with $119.5 million in finished goods at customer sites.

Outlook and guidance

• 2026 revenue guidance maintained at $1.08–$1.175 billion, implying 21–30% growth.

• Annual shipment growth expected to outpace revenue growth.

• Gross margin expected to remain between 42% and 48%.

• R&D spending planned at 16%–18% of sales for 2026.

• Capex expected to be about $175 million for 2026.