Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Q4 2025 Earnings Presentation
15 slides from Acm Research's earnings presentation, Feb 26, 2026
Slide 1: Supplemental Investor Presentation
Supplemental Investor Presentation Earnings Release – Fourth Quarter and Fiscal Year 2025 February 26, 2026
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 simil
Slide 3: Q4 and 2025 Summary
Q4 and 2025 Summary Q4 2025 Financial Results • $244.4 million revenue (up 9.4% y/y); total shipments of $228 million (down 13.5% y/y) • 41.0% non-GAAP gross margin (versus 49.8% in Q4 2024) • $29.5 million non-GAAP operating income (down 44.2% y/y; 12.1% of revenue) 2025 Financial Results • $901.3
Slide 4: Q4 and 2025 Revenue Detail
Q4 and 2025 Revenue Detail Revenue by Product: Q4’25 vs Q4’24 Revenue by Product: 2025 vs 2024 9.4% 15.2% $244.4M $901.3M $223.5M 8% Advanced Packaging & Other 8% Advanced Packaging & Other $782.1M 7% 7% 26% ECP, Furnace & Other 22% ECP, Furnace & Other 23% 19% 65% Cleaning 69% Cleaning 69% 74% Q4’2
Slide 5: Expanding Serviceable Available Market
Innovative Product Introductions Expanding Serviceable Available Market (“SAM”) 1 PECVD | $5.3B Introduced late 2022 Track | $3.0B Introduced late 2022 Estimated 2025 SAM of $21 billion addressed by 2020: Furnace, LPCVD, Furnace | $2.6B ACM Research’s current Vacuum Anneal, High- Temperature Oxidati
Slide 6: Long-Term Target for $4B+ in Revenue
Long-Term Target for $4B+ in Revenue Advanced Packaging & Other Long-Term Target Composition > $4B* ECP, Furnace & Other ACM Research Cleaning Mainland China ACM Research SAM1 China SAM2 Share3 Revenue Cleaning $7.3B $2.4B 60% $1.43B ECP $1.5 $0.5 60% $293M Furnace $2.6 $0.8 15% $127 PECVD $5.3 $1.7
Slide 7: Customer Concentration and Revenue Mix
Customer Concentration (≥10%) and Revenue Mix by Customer Type 10% Customer Mix – Annual Ranking Revenue Mix by Customer Type Largest 2nd 3rd 4th 2025 16.9% 13.5% 11.6% 10.2% 52.2% Customer Type 2025 2024 2023 Memory 27.3% 21.8% 24.1% 2024 14.7% 13.6% 12.0% 11.9% 52.2% Foundry/Logic/Other 58.9% 71.1
Slide 8: ACM Shanghai Facilities
ACM 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, • Lingang R&D and Production Center Center approximately 11 miles from ACM Shanghai’s Zhang
Slide 9: ACM Oregon R&D and Clean Room Facility
ACM Oregon R&D and Clean Room Facility 6357 NE Evergreen Parkway, Hillsboro, Oregon • Purchased October 1, 2024 • 39,500 sq. feet facility including 5,200 sq. feet clean room • To further expand ACM’s R&D and demonstration capability in the U.S. market 9
Slide 10: 2026 Outlook
2026 Outlook • Maintain 2026 Revenue Guidance Range: $1,080M - $1,175M • 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 acceptances
Slide 11: Q4 2025 Financial Results
Q4 2025 Financial Results Revenue Non-GAAP Gross Profit +9.4% -10.0% $244.4M $111.2M $223.5M $100.1M 49.8% 41.0% Q4‘24 Q4’25 Q4’24 Q4’25 EPS Balance Sheet Finished goods inventory GAAP Non-GAAP Ending cash & cash equivalents 1 $0.46 $0.56 $1,098M $1,133M $0.25 $442M $498M $484M $0.11 $293M $299M $30
Slide 12: 2025 Financial Results
2025 Financial Results Revenue Non-GAAP Gross Profit +15.2% +1.9% $901.3M $393.9M $401.4M $782.1M 50.4% 44.5% 2024 2025 2024 2025 EPS Balance Sheet Finished goods inventory GAAP Non-GAAP Ending cash & cash equivalents 1 $1.53 $2.26 $1,098M $1,133M $1.37 $1.61 $442M $498M $484M $293M $299M $302M $291
Slide 13: Appendix
AC FRESE ARCH Appendix “= Se
Slide 14: Q4 2025 GAAP to Non-GAAP Reconciliation
Q4 2025 GAAP to Non-GAAP Reconciliation 14
Slide 15: 2025 GAAP to Non-GAAP Reconciliation
2025 GAAP to Non-GAAP Reconciliation 15