Aug 7, 2026, 7:37 AM ETTechnology

ACM Research — Second Quarter 2026 Earnings Summary

ACMRACM RESEARCH INC

Financial Performance

Q2 2026 revenue was $292.9 million, a 36.0% increase year-over-year compared to $215.4 million in Q2 2025.
Q2 2026 net income attributable to ACM Research, Inc. was $89.0 million, compared to $29.8 million in Q2 2025.
Q2 2026 diluted EPS was $1.23, up from $0.44 in Q2 2025.
Q2 2026 GAAP gross margin was 46.0%, down from 48.5% in Q2 2025; Non-GAAP gross margin was 46.0%, down from 48.7%.
Q2 2026 operating income was $49.7 million, compared to $31.7 million in Q2 2025.
Q2 2026 operating margin was 17.0%, compared to 14.7% in Q2 2025.
Q2 2026 operating expenses were $84.9 million, a 16.6% increase year-over-year.
Q2 2026 net cash was $1.0 billion, up from $924.2 million at March 31, 2026.
Six-month revenue through June 30, 2026, was $524.2 million, up from $387.7 million in the same period of 2025.
Six-month net income attributable to ACM Research, Inc. was $106.3 million, compared to $50.1 million in the prior year period.
Unrealized gain on short-term investments was $69.6 million in Q2 2026, compared to $2.7 million in Q2 2025.
Income tax expense was $13.5 million in Q2 2026, compared to $1.9 million in Q2 2025.

Full-year 2026 revenue guidance raised to $1.125 billion to $1.175 billion, representing 25% to 30% growth.
Management cites 2026 as a "Big Year" for new products, including SPM Cleaning, Track, PECVD, and horizontal panel-level plating for advanced packaging.
Long-term revenue target remains $4 billion.
Customer demand and order activity provide visibility for the remainder of 2026.
Guidance factors include international trade policy, customer spending scenarios, supply chain constraints, and acceptance timing for first tools under evaluation.

ECP (front-end and packaging) revenue grew 168% year-over-year.
Advanced packaging (excluding ECP) revenue grew 153% year-over-year.
Single-wafer cleaning, Tahoe, and semi-critical cleaning equipment revenue decreased, offsetting growth in other categories.
Shipped the 2,000th ECP chamber, following milestones of 500 in 2022 and 1,500 in 2025.
Expanded the Ultra C Tahoe Wet Processing Platform with advanced wet etch and monitor wafer reclaim applications; Tahoe Recycle application is in volume production.
Received first production order for one 510 × 515 mm Ultra ECP ap-p tool from an existing advanced packaging customer in mainland China (delivery H1 2027).
Received evaluation order for one 310 × 310 mm tool from a new leading panel-manufacturer customer in Asia (delivery Q4 2026).
Presented proprietary high-temperature SPM cleaning technology at SPCC 2026, achieving fewer than 15 particles at 15nm.

ECP technology adoption is increasing in high-volume manufacturing of logic, memory, and 3D packaging.
Expanded engagement with global customers and progress at the Oregon facility.
Ultra C Tahoe platform adopted by leading semiconductor manufacturers.

Risks include international trade policy impacts, customer spending scenarios, supply chain constraints, and timing of tool acceptances.
Forward-looking statements involve uncertainties that could cause actual results to differ materially from expectations.

CEO Dr. David Wang described the quarter as "strong" with revenue and shipments increasing 36% year-over-year.
Management expressed confidence in outgrowing the market through new product cycles, market share gains, and global market contributions.
Management highlighted the financial strength of $1.0 billion in net cash to support long-term growth.

Total shipments in Q2 2026 were $281.5 million, up 36.4% year-over-year.
Cash and cash equivalents, plus restricted cash and short-term time deposits were $1.36 billion at June 30, 2026.
Non-GAAP financial measures exclude stock-based compensation and unrealized gains on short-term investments.
Conference call scheduled for August 7, 2026, at 8:00 a.m. Eastern Time.