Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Investor Presentation (May 2021)
16 slides from Acm Research's investor presentation, May 2021
Slide 1: Advanced Wet-Cleaning Tools for Leading Edge IC Fabs
Advanced Wet-Cleaning Tools for Leading Edge IC Fabs May 2021
Slide 2: Market Data and Non-GAAP Notes
Market Data. Information presented below under “Who is ACM Research?,” “Innovation and Product Introductions Expanding Addressable Market” and “Investment Highlights” concerning ACM Research’s total addressable market presents a forecast based on information provided by Gartner, Inc. in its report “
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
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 its current product offerings address a $5 billion market opportunity (1) Future Products World-class R&D team SFP, ECP, focused on innovation Semi-Critical, Addressable Furnace (2020) Market Tahoe (2018) TEBO (2016
Slide 7: Shanghai Manufacturing Facilities – Existing and Planned
Shanghai Manufacturing Facilities – Existing and Planned Facility #1 (Shanghai HQ) Facility #2 (Chuansha Production) Lingang Under Construction • Original ACM factory • Located in Chuansha area of Pudong district, • Broke ground on the new R&D and approximately 11 miles from ACM Shanghai’s productio
Slide 8: Well-Positioned to Participate in Asia Fab Investments
Well-Positioned to Participate in Asia Fab Investments Semiconductor Industry Development ($ 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 2021 16-'21 Present
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: Q1 2021 Highlights
Q1 2021 Highlights • Strong Q1 Results: ➢ $43.7 million revenue, up 79.6% from Q1 2020; total shipments of $74 million ➢ 41.3% GAAP gross margin and 7.9% GAAP operating margin ➢ 41.4% non-GAAP adjusted gross margin and 10.7% non-GAAP adjusted operating margin ➢ Fully diluted GAAP EPS of $0.25 vs. $0
Slide 12: Q1 2021 Revenue Detail
Q1 2021 Revenue Detail Three Months Ended March 31, Total Revenue By Product Category 2021 2020 Single Wafer Cleaning Tools (SAPS, TEBO, Tahoe) and Semi-Critical Cleaning Equipment $ 32,413 $ 22,784 ECP (front-end and packaging), Furnace and Other Technologies 5,550 - Advanced Packaging (excluding E
Slide 13: Q1 2021 Financial Results
Q1 2021 Financial Results $ Millions Revenue Gross Profit 41.4% 41.3% 42.2% 42.0% Operating Income Balance Sheet Data* 10.7% 7.9% 7.8% 5.0% * Finished goods inventory represents ‘demo-to-sales’ product which have been delivered to customers for evaluation. These products are carried at cost until ow
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) 2018 2019 2020 3 months Ended 3/31/2021 3 months Ended 3/31/2020 GAAP Income from Operations $6.5 $17.8 $21.5 $3.5 $1.2 Plus: Stock-based Compensation $3.4 $3.6 $5.6 $1.2 $0.7 Adjusted Income from Operations $9.8 $21.4 $27.1 $4.7 $1.9 GAAP Net Income (Loss) $6.6 $
Slide 16: GAAP to Non-GAAP Reconciliation (2)
GAAP to Non-GAAP Reconciliation (2) Three Months Ended March 31, 2021 2020 Other non- Actual Adjusted Actual Adjusted SBC operating SBC adjustments (GAAP) (Non-GAAP) (GAAP) (Non-GAAP) (In thousands) Revenue $ 43,732 $ - $ - $ 43,732 $ 24,348 $ - $ 24,348 Cost of revenue (25,687) (71) - (25,616) (14,