Slide 1: Supplemental Investor Presentation: Earnings Release Q4 and Fiscal Year 2023
Supplemental Investor Presentation Earnings Release – Fourth Quarter and Fiscal Year 2023 February 28, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements. Certain statements contained in this presentation are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and simila
Slide 3: Q4 and 2023 Summary
Q4 and 2023 Summary Q4 2023 Financial Results • $170.3 million revenue (up 56.9% y/y); total shipments of $140 million (down 29% y/y) • 46.8% non-GAAP gross margin (versus 49.7% in Q4 2022) • $36.0 million non-GAAP operating income (21.2% of revenue) 2023 Financial Results • $557.7 million revenue (
Slide 4: Q4 and 2023 Revenue Detail
Q4 and 2023 Revenue Detail Revenue by Product: Q4’23 vs Q4’22 Revenue by Product: 2023 vs 2022 43.4% $557.7M 9% Advanced Packaging & Other 56.9% $170.3M 19% ECP, Furnace & Other 9% Advanced Packaging & Other $388.8M 19% ECP, Furnace & Other 10% $108.5M 20% 13% 19% 72% Cleaning 72% Cleaning 70% 69% Q
Slide 5: Innovative Product Introductions Expanding Serviceable Available Market
Innovative Product Introductions Expanding Serviceable Available Market (“SAM”)1 PECVD | $4.3B Introduced late 2022 Track | $2.5B Introduced late 2022 Estimated 2023 SAM of $16 billion addressed by 2020: Furnace, ACM’s current product LPCVD, Vacuum Anneal, High- Furnace | $2.2B portfolio Temperature
Slide 6: Internal Longer-Term Target for $1B+ in Revenue
Internal Longer-Term Target for $1B+ in Revenue Advanced Packaging & Other Longer Term Target Composition ECP, Furnace & Other >$1,000M* ACM Research Cleaning Mainland China SAM 1 Share Revenue Cleaning $0.8B 55% $0.4B ECP $0.2B 50% $0.1B $688M Furnace $0.3B 35% $0.1B Midpoint PECVD $0.7B 15% $0.1B
Slide 7: Tier One Customer Base
Tier One Customer Base Front-End Customers Back-End Customers • ACM 2023 Revenue %: 18% • Mainland China’s largest foundry • ACM 2023 Revenue %: 15% • ACM 2023 Revenue %: 13% • Largest bumping house in China and • A semiconductor integrated circuit • New China-based entrant to DRAM leading WLCSP pro
Slide 8: Shanghai Facilities
Shanghai Facilities ACM Shanghai HQ and R&D Center Chuansha Production Facilities Lingang R&D and Production Center • ACM Shanghai Headquarters and China R&D • Located in Chuansha area of Pudong district, • Construction in progress for R&D and Center approximately 11 miles from ACM Shanghai’s produc
Slide 9: 2024 Outlook
2024 Outlook • Maintain 2024 revenue guidance range of $650 to $725 million • Outlook reflects, among other things: • Current assessment of the continuing impact from international trade policy • Various expected spending scenarios of key customers, supply chain constraints, and the timing of accept
Slide 10: 2023 Financial Results
2023 Financial Results Revenue Non-GAAP Gross Profit +43.4% $557.7M +50.8% $277.6M $388.8M $184.1M 49.8% 47.4% 2022 2023 2022 2023 EPS Balance Sheet Finished goods inventory GAAP Non-GAAP Ending cash & cash equivalents 1 $1.16 $1.63 $421M $382M $376M $326M $305M $0.59 $0.83 $196M $222M $229M $147M $
Slide 11: Q4 2023 Financial Results
Q4 2023 Financial Results Revenue Non-GAAP Gross Profit +56.9% $170.3M +47.6% $79.6M $108.5M $53.9M 46.8% 49.7% Q4‘22 Q4’23 Q4’22 Q4’23 EPS Balance Sheet Finished goods inventory GAAP Non-GAAP Ending cash & cash equivalents 1 $0.26 $0.43 $421M $382M $376M $326M $305M $0.18 $196M $222M $229M $0.19 $1
Slide 12: Appendix
Appendix
Slide 13: 2023 GAAP to Non-GAAP Reconciliation
2023 GAAP to Non-GAAP Reconciliation Year Ended December 31, 2023 2022 Actual Other non- Adjusted Actual Other non- Adjusted SBC operating SBC operating (GAAP) adjustments (Non-GAAP) (GAAP) adjustments (Non-GAAP) (In thousands) Revenue $ 557,723 $ - $ - $ 557,723 $ 388,832 $ - $ - $ 388,832 Cost of
Slide 14: Q4 2023 GAAP to Non-GAAP Reconciliation
Q4 2023 GAAP to Non-GAAP Reconciliation Three Months Ended December 31, 2023 2022 Actual Other non- Adjusted Actual Other non- Adjusted SBC operating SBC operating (GAAP) (Non-GAAP) (GAAP) (Non-GAAP) adjustments adjustments (In thousands) Revenue $ 170,321 $ - $ - $ 170,321 $ 108,542 $ - $ - $ 108,5