Slide 1: Supplemental Investor Presentation: Earnings Release – First Quarter 2024
Supplemental Investor Presentation Earnings Release – First Quarter 2024 May 8, 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: Q1 2024 Summary
Q1 2024 Summary Q1 2024 Financial Results • $152.2 million revenue (up 105.0% y/y); total shipments of $245 million (up 175% y/y) • 52.0% GAAP gross margin (versus 53.8% in Q1 2023) • 52.5% non-GAAP gross margin (versus 54.0% in Q1 2023) • $25.2 million GAAP operating income (16.6% of revenue) • $39
Slide 4: Q1 2024 Revenue Detail
Q1 2024 Revenue Detail Revenue by Product: Q1’24 vs Q1’23 Cleaning • $109.5M revenue (up 199%) • Revenue mix 72% vs. 49% $152.2M 105.0% 11% Advanced Packaging & Other ECP, Furnace & Other 17% ECP, Furnace & Other • $25.8M revenue (down 3%) • Revenue mix 17% vs. 36% $74.3M 15% 36% 72% Cleaning Advanc
Slide 5: Innovative Product Introductions Expanding Serviceable Available Market (SAM)
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 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 Track $0.
Slide 7: Tier One Customer Base
Tier One Customer Base Front-End Customers Back-End Customers • ACM 2023 Revenue %: 18% • 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 production base • Mainland China’s lar
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: Q1 2024 Financial Results
Q1 2024 Financial Results Revenue Non-GAAP Gross Profit +105.0% $152.2M +99.2% $79.9M $74.3M $40.1M 52.5% 54.0% Q1‘23 Q1’24 Q1’23 Q1’24 EPS Balance Sheet Finished goods inventory GAAP Non-GAAP Ending cash & cash equivalents 1 $0.26 $0.52 $382M $376M $326M $305M $263M $288M $196M $222M $229M $0.11 $1
Slide 11: Appendix
Appendix
Slide 12: Q1 2024 GAAP to Non-GAAP Reconciliation
Q1 2024 GAAP to Non-GAAP Reconciliation Three Months Ended March 31, 2024 2023 Actual Other non- Adjusted Actual Other non- Adjusted SBC operating SBC operating (GAAP) adjustments (Non-GAAP) (GAAP) adjustments (Non-GAAP) (In thousands) Revenue $ 152,191 $ - $ - $ 152,191 $ 74,256 $ - $ - $ 74,256 Co