Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Q1 2021 Earnings Presentation
12 slides from Acm Research's earnings presentation, May 7, 2021
Slide 1: Supplemental Investor Presentation: Earnings Release – First Quarter 2021
Supplemental Investor Presentation Earnings Release – First Quarter 2021 May 7, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements. Information presented below under “2021 Outlook” with respect to revenue projected to be generated in 2021 is a forward-looking statement for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may vary significan
Slide 3: 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 gross margin and 10.7% non-GAAP operating margin ➢ Fully diluted GAAP EPS of $0.25 vs. $0.08 in Q1 2020 ➢ F
Slide 4: 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 5: 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 6: Shanghai Manufacturing Facilities – Existing and Planned
Shanghai Manufacturing Facilities – Existing and Planned Factory #1 (Shanghai HQ) Facility #2 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 production facilities in Lingang
Slide 7: 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 Future Products World-class R&D team SFP, ECP, focused on innovation Semi-Critical, Addressable Furnace (2020) Market Tahoe (2018) TEBO (2016) SA
Slide 8: 2021 Outlook
2021 Outlook • 2021 revenue guidance of $205 to $230 million ➢ 39% year-over-year growth at the mid-point • Outlook assumes: ➢ Improvement with respect to global COVID-19 pandemic ➢ U.S. – China trade policy stabilizes ➢ Various spending scenarios for production ramp of key customers ➢ Variance in t
Slide 9: 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 10: 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 11: 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 12: 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,