Business
ACM Research Reports Fourth Quarter and Fiscal Year 2024 Results
FREMONT, Calif., Feb. 26, 2025 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for
About this update from Acm Research, Inc.
[{"type":"text","content":"FREMONT, Calif., Feb. 26, 2025 (GLOBE NEWSWIRE) -- ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced packaging applications, today reported financial results for its fourth quarter and fiscal year ended December 31, 2024. “2024 was a year of strong execution for ACM. We expanded our product portfolio and broadened the addressable markets we serve,” said ACM’s President and Chief Executive Officer, Dr. David Wang. “We grew revenue by 40% and total shipments by 63%. We gained additional market share by capitalizing on product cycles and deepening engagements with key customers, demonstrating the strength of our multi-product portfolio. Our operating profit increased by 57.6%, and we generated $152 million in cash flow from operations.” Dr. Wang continued, “In the fourth quarter, we achieved two major operational milestones. First, we achieved process qualification of our Thermal and Plasma-Enhanced ALD furnace tools at two semiconductor customers in mainland China. Second, we commenced initial operations at our Lingang production facility, and we are on track to transition additional capacity to Lingang as we progress through the year.” Dr. Wang concluded, “Looking ahead to 2025, we remain focused on expanding our business with incremental revenue contribution from Tahoe, SPM, and Furnace, additional customer evaluations for both Track and PECVD, increasing localization in China, and contributions from our expanding global footprint. Regarding the addition of our subsidiaries to the U.S. Entity List, we believe the impact on the ability of ACM Research (Shanghai) to produce tools will be manageable, and that we can continue to support our global customer base.” Three Months Ended December 31, GAAP Non-GAAP(1) 2024 2023 2024 2023 (dollars in thousands, except EPS)Revenue$223,471 $170,321 $223,471 $170,321 Gross margin 49.6% 46.4% 49.8% 46.8%Income from operations$43,989 $23,374 $52,773 $36,046 Net income attributable to ACM Research, Inc.$31,080 $17,700 $37,740 $28,681 Basic EPS$0.49 $0.29 $0.60 $0.47 Diluted EPS$0.46 $0.26 $0.56 $0.43 Twelve Months Ended December 31, GAAP Non-GAAP(1) 2024 2023 2024 2023 (dollars in thousands, except EPS)Revenue$782,118 $557,723 $782,118 $557,723 Gross margin 50.1% 49.5% 50.4% 49.8%Income from operations$150,998 $95,839 $200,5...