Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Investor Presentation (December 2020)
17 slides from Acm Research's investor presentation, December 2020
Slide 1: Advanced Wet-Cleaning Tools for Leading Edge IC Fabs
Advanced Wet-Cleaning Tools for Leading Edge IC Fabs December 2020
Slide 2: Market Data and Non-GAAP Financial Measures notes
Market Data. Information presented below under “Who is ACM Research?,” “ACM is Growing at a Rapid Pace” and “Investment Highlights” concerning ACM Research’s total addressable market presents a forecast based on information provided by Gartner, Inc. in its report “Forecast: Semiconductor Wafer Fab M
Slide 3: Who is ACM Research?
Who is ACM Research? Mission Statement: To Become a Leading Global Provider of Semiconductor Capital Equipment • Best-in-class semiconductor wafer cleaning tools providing higher Clean yields and better efficiency at advanced fabs than conventional wafer SAPS TEBO Ultra – C Tahoe cleaning tools • Di
Slide 4: Tier One Customer Base
Tier One Customer Base Front-End Customers Back-End Customers • Major new entrant into NAND flash and • Leading advanced foundry in China • Global market leader in memory (DRAM & • Largest bumping house in China and DRAM industry • Manages first fully automated 300mm NAND) semiconductor products lea
Slide 5: ACM Flagship Cleaning Products Ultra – C Tahoe
ACM Flagship Cleaning Products Innovative, patent-protected tools address critical challenges in leading edge IC manufacturing SAPS TEBO Ultra – C Tahoe Megasonic Cleaning for Bubble Oscillation Cleaning for Hybrid Wafer Cleaning With Significant Flat and Patterned Wafer Patterned Wafers at Advanced
Slide 6: Innovation and Product Introductions Expanding Addressable Market
Innovation and Product Introductions Expanding Addressable Market ACM estimates that SAPS, TEBO, Tahoe and Semi-Critical tools address more than 80% of the wet cleaning market SFP, ECP and Furnace further expand ACM’s market opportunity Future Products World-class R&D team SFP, ECP, focused on innov
Slide 7: Shanghai Manufacturing Facilities – Existing and Planned
Shanghai Manufacturing Facilities – Existing and Planned Factory #1 (Shanghai HQ) Facility #2 Lingang Under Construction • Original ACM factory • Second factory; opened in September 2018 • Broke ground on the new R&D and production facilities in Lingang region of • 36,000 sq. ft. facility • 100,000
Slide 8: Well-Positioned to Participate in Asia Fab Investments
Well-Positioned to Participate in Asia Fab Investments Semiconductor Industry Development ($ in billions) New Facilities and Industry Center Shifts China is the Fastest Production Lines Starting Through the Decades(1) Growing Geography(2) Operation (2017-2020)(1) Rank Country or 2020 16-'20 Region S
Slide 9: Growth Strategy
Growth Strategy 111 Selective Acquisitions 111 Add New Customers • Use M&A to broaden product Continue to111 Build Scale in portfolio, add complementary Asia • Megasonic approaches SAPS, technologies and increase New Product Introductions TEBO, Tahoe and ECP a driving access to the global market Inc
Slide 10: History of Innovation & Customer Adoption
History of Innovation & Customer Adoption Launched Tahoe & ECP SFP, Vertical YMTC, SMIC, SK Hynix Major TEBO Demo Unit 2nd Factory First Tools Furnace and Founded in and HLMC Evaluation SAPS Orders to HLMC; Expands New DRAM Semi-critical Silicon Valley Placed SAPS Begins From SK Hynix Revenue in 4Q1
Slide 11: ACM is Growing at a Rapid Pace
ACM is Growing at a Rapid Pace ($ in millions) Revenue Gross Margin(1) Net Income Attributable to ACM Research (1) $107.5 Adjusted EBITDA Margin: 22% $74.6 Adjusted EBITDA Margin: 16% 2018 2019 Operating Margin 2018 – 2019 Growth ACM Wafer Cleaning Market Share (4) 19.9% 16.5% 13.2% 8.7% (2) (3) 201
Slide 12: Q3 2020 Highlights
Q3 2020 Highlights • Strong Q3 Results: ➢$47.7 million revenue, up 43% from Q3 2019; total shipments of $59 million ➢42.7% GAAP gross margin and 15.7% GAAP operating margin ➢42.8% non-GAAP adjusted gross margin and 21.6% non-GAAP adjusted operating margin ➢Ended Q3 with $92 million of cash, and an a
Slide 13: Q3 2020 Financial Results
Q3 2020 Financial Results $ Millions Revenue Gross Profit $47.7 $20.3 $20.4 $16.3 $16.4 $33.4 42.7% 42.8% 48.6% 49.1% Gross Profit Non-GAAP Adjusted Gross Profit Q3'19 Q3'20 Q3'19 Q3'20 Operating Profit Balance Sheet Data* $92.2 $86.4 $10.3 $8.6 $7.5 $58.3 $7.0 $52.3 $47.3 21.6% $23.0 25.7% $18.6 $1
Slide 14: Investment Highlights
Investment Highlights Gaining share in the ~$3B wafer cleaning market (1) Innovative, patent-protected tools address critical challenges in leading-edge IC manufacturing Tier 1 global customer base in DRAM, NAND and foundry / logic New product introductions in 2020 have more than doubled SAM China-b
Slide 15: GAAP to Non-GAAP Reconciliation (1)
GAAP to Non-GAAP Reconciliation (1) ($ in millions) 2017 2018 2019 9 months Ended 9/30/2020 9 months Ended 9/30/2019 GAAP Income from Operations $0.7 $6.5 $17.8 $16.1 $13.9 Plus: Stock-based Compensation $1.6 $3.4 $3.6 $4.3 $2.9 Adjusted Income from Operations $2.3 $9.8 $21.4 $20.4 $16.9 GAAP Net In
Slide 16: GAAP to Non-GAAP Reconciliation (2)
GAAP to Non-GAAP Reconciliation (2) Three Months Ended September 30, 2020 2019 Actual Other non- Adjusted Actual Adjusted SBC operating SBC (GAAP) adjustments (Non-GAAP) (GAAP) (Non-GAAP) (In thousands) Revenue $ 47,665 $ - $ - $ 47,665 $ 33,427 $ - $ 33,427 Cost of revenue (27,324) (44) - (27,280)
Slide 17: GAAP to Non-GAAP Reconciliation (3)
GAAP to Non-GAAP Reconciliation (3) Year Ended December 31, 2019 2018 Actual Adjusted Actual Adjusted SBC SBC (GAAP) (Non-GAAP) (GAAP) (Non-GAAP) (In thousands) Revenue $ 107,524 $ - $ 107,524 $ 74,643 $ 74,643 Cost of revenue (56,870) (250) (56,620) (40,194) (71) (40,123) Gross profit 50,654 (250)