$ACMR earnings report

ACM disclosed preliminary unaudited third-quarter 2026 revenue expected to be in the range of $360 million to $365 million. The company said this range would represent year-to-year growth of 34% to 36%, indicating continued reported top-line expansion for the period.

Preliminary total shipments are expected to be in the range of $335 million to $340 million, which ACM said would represent year-to-year growth of 27% to 29%. The release does not provide a product, customer, geographic, or end-market breakdown for either revenue or shipments, so the specific sources of growth and mix changes are not disclosed.

The filing underscores ACM Shanghai’s importance to the consolidated business. As of June 30, 2026, ACM owned a 73.2% equity interest in ACM Shanghai, and the company said a substantial majority of consolidated revenue and net income is contributed by that subsidiary. Investors should distinguish ACM Shanghai’s stand-alone RMB results under Chinese generally accepted accounting principles from ACM’s final consolidated U.S.-dollar results prepared under U.S. generally accepted accounting principles.

This is a preliminary operating update rather than a complete earnings release. The reported revenue and shipment ranges remain subject to quarter-end closing procedures and review by ACM’s independent registered public accounting firm. ACM plans to discuss full third-quarter results and its revenue outlook for the remainder of the year on November 5, 2026, making final profitability, margin, cash flow, balance-sheet and outlook disclosures the principal outstanding items.

ACM reported a strong second quarter ended June 30, 2026. Revenue was $292,919, up 36.0%, while total shipments were $281.5 million, up 36.4%. Management attributed revenue growth to higher sales of ECP, furnace and other technologies, advanced packaging excluding ECP, and services & spares. ECP and advanced packaging categories grew 168% and 153%, respectively, and the company shipped its 2,000th electroplating chamber.

Profitability improved on a GAAP operating basis despite lower gross margin. GAAP income from operations was $49,743 versus $31,694, and GAAP operating margin was 17.0% compared to 14.7%. Gross margin was 46.0% versus 48.5%, while non-GAAP gross margin was 46.0% versus 48.7%. The company cited product mix, currency impacts and sales volume as factors that can cause gross margin to vary between periods.

GAAP net income attributable to ACM Research, Inc. was $88,984, compared with $29,760, but the result included a $69.6 million unrealized gain on short-term investments. Non-GAAP net income attributable to ACM Research, Inc. was $44,516 versus $37,316, and non-GAAP diluted EPS was $0.61 versus $0.55. Operating expenses grew more slowly than revenue on a GAAP basis, with operating expenses as a percentage of revenue declining to 29.0% from 33.8%.

Liquidity increased during the quarter. Cash and cash equivalents, plus restricted cash and short-term time deposits were $1.36 billion at June 30, 2026, compared to $1.25 billion at March 31, 2026. Net cash was $1.0 billion, compared to $924.2 million at March 31, 2026. ACM raised fiscal year 2026 revenue guidance to $1.125 billion to $1.175 billion from $1.08 billion to $1.175 billion, citing increased order activity and visibility while identifying international trade policy, customer spending scenarios, supply chain constraints and first-tool acceptance timing as outlook factors.