ACM Research Reports Strong Financial Results for Third Quarter 2024

ACM Research, Inc. has recently shared its financial results for the third quarter of 2024 through a press release issued on November 7, 2024. The company, a leading provider of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, reported record revenues and shipments for the mentioned quarter.

According to Dr. David Wang, President and Chief Executive Officer of ACM Research, the company had a robust quarter with strong profitability, record revenues, and positive cash flow from operations. Dr. Wang highlighted that ACM’s innovative tools are playing a crucial role in delivering value to customers and enhancing the company’s global market position. Notably, ACM’s Ultra C Tahoe Cleaning Tool has achieved significant performance enhancements with reduced sulfuric acid use and has gained traction with multiple customers, marking a pivotal breakthrough for the company.

Looking forward, ACM anticipates further growth in mainland China and is focused on expanding market share and introducing new products. The company has increased its revenue guidance range for fiscal year 2024 to a range of $725 million to $745 million from the previous range of $695 million to $735 million. This revised outlook considers various factors including international trade policies, customer spending patterns, and supply chain dynamics.

During the third quarter of 2024, total shipments amounted to $261 million, showing a 23% increase compared to the same period last year. Key operational highlights include the successful upgrade of the Ultra C Tahoe Cleaning Tool, the launch of the Ultra C bev-p Panel Bevel Etching Tool, and the reception of orders for wafer-level packaging tools from U.S.-based customers. Additionally, ACM completed the purchase of a new facility in Oregon and opened a new R&D and production facility in China.

Financially, for the third quarter of 2024, ACM reported revenues of $203.976 million, marking a 21% increase over the same period in 2023. The gross margin was 51.4%, operating income stood at $44.184 million, and net income attributable to ACM Research, Inc. was $30.904 million. Non-GAAP measures excluded stock-based compensation, with non-GAAP net income attributable to the company reaching $42.4 million for the quarter. These figures demonstrate ACM’s continued growth and strategic positioning in the semiconductor industry.

Overall, ACM Research’s performance in the third quarter reflects its commitment to innovation, customer value, and operational excellence, positioning the company for sustained growth and market leadership. Investors and stakeholders are invited to a conference call scheduled for November 7, 2024, to discuss these results further.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ACM Research’s 8K filing here.

ACM Research Company Profile

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.