Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Investor Presentation (March 2026)
23 slides from Acm Research's investor presentation, March 2026
Slide 1: ACM Research, Inc. March 2026 Investor Presentation
ACM Research, Inc. March 2026 Investor Presentation 1
Slide 2: Disclosures
DISCLOSURES 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,
Slide 3: ACM Research at a Glance
ACM Research at a Glance • Multi-product supplier of semiconductor equipment Cleaning to leading global semiconductor manufacturers Flagship (SAPS, TEBO, Tahoe, Bevel Etch, SPM) Semi-critical • Differentiated technology improves customer production processes with better yields and reduced chemical c
Slide 4: Financial Highlights
Financial Highlights Total Revenue Product Mix Cleaning ECP, Furnace & Other $901 Advanced Packaging & Other $782 +42% 8% $558 7% 22% 19% $389 9% 19% $260 69% 73% 74% $157 72% FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 $558M $782M $901M 1. Cleaning: Single wafer cleaning, Tahoe and semi-critical c
Slide 5: History of Innovation and Customer Design Wins
History of Innovation and Customer Design Wins Dr. Wang Launches SFP, 1st ECDP tool ACM Shanghai 1st 300mm Adv. establishes Launches Ultra PmaxTM Major 1st SAPS tool SWC tool Packaging Opens 2nd furnace and for wide- 2nd capital ACM Research production facility PECVD and Ultra Track performance qual
Slide 6: Global Semiconductor Capital Equipment Supplier
Global Semiconductor Capital Equipment Supplier ACM Research HQ Nasdaq: ACMR ACM Shanghai R&D and Manufacturing Center Europe Sales & Services Shanghai R&D Center (Zhangjiang) Hanguk ACM, ACM Korea Shanghai Asia-Pacific Manufacturing Center >200,000 ft2 (Chuansha) Research Institute & Manufacturing
Slide 7: Customer Concentration (≥10%) and Revenue Mix by Customer Type
Customer Concentration (≥10%) and Revenue Mix by Customer Type 10% Customer Mix – Annual Ranking Revenue Mix by Customer Type Largest 2nd 3rd 4th 2025 17% 14% 12% 10% 52% Customer Type 2025 2024 2023 Memory 27% 22% 24% 2024 15% 14% 12% 12% 52% Foundry/Logic/Other 59% 71% 63% 2023 18% 15% 13% 46% Pac
Slide 8: Innovative Product Introductions Expanding Serviceable Available Market (SAM)
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 Oxidatio
Slide 9: 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 10: Growth Strategy
Growth Strategy Growth at Existing 111 111 International Expansion New Capacity New Products Customers • Continue winning share at existing • Expanding sales & services teams in • Shanghai Lingang production and R&D • Broad product portfolio covering ~95% customers U.S., Europe, Korea and SE Asia ce
Slide 11: 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 12: 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 13: 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 14: 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 7% $782.1M 7% 26% ECP, Furnace & Other 22% ECP, Furnace & Other 23% 19% 65% Cleaning 74% 69% Cleaning 69% Q4’2
Slide 15: Wafer Cleaning
Wafer Cleaning Flagship Cleaning Tools SAPS TEBO Ultra – C Tahoe Bevel Etch Single Wafer High Temp SPM Megasonic Cleaning for Bubble Oscillation Cleaning for Patterned Hybrid Wafer Cleaning With Significant Bevel Etching process for 3D NAND , Single High Temp SPM Cleaning for metal Flat and Patterne
Slide 16: Vertical Furnace
Vertical Furnace Ox Ion Metal Mask Photo Exposure Develop Etch CVD ALD /Anneal Implantation Wire Furnace Tube Temperature Existing ACM In Film Type Process Classification Range Research Product Development Oxidation Wet oxygen/dry 700~1200℃ ★ Normal Pressure Annealing oxygen/nitrogen annealing Chemi
Slide 17: PECVD
PECVD Model Ultra Pmax™ PECVD Dielectric Films: SiO₂ / Si₃N₄ / SiON / TEOS Film Category / Type Advanced Films: SiCN / APF Applicable to 300mm wafer processing ü Patented chamber design, gas distribution unit & chuck design ü Multi-frequency RF architecture ü Independent HF & LF control ü Liquid pre
Slide 18: Track
Track Offline Model Model Technical Features Chamber Temperature Bake Range Development Phase /Inline ü Support 300mm wafers ü 4 × 12-inch load ports ü 12 coating chambers + 12 developing chambers (12C12D) ArF Model ü Throughput > 300 WPH Process- ü 13 robots integrated Multi-zone precision ü Up to
Slide 19: Electroplating
Electroplating Ultra ECP Ultra ECP ap Model Ultra ECP 3D Ultra ECP ap Ultra ECP GIII Ultra ECP ap-p Ultra ECDP map (Cu-Ni-SnAg-Au) Pillar bump, RDL Au bump / thin film / Dual-damascene Pillar bump, Solder RF product 3D/2.5D high aspect High-density Fan Out 510mmx515mm or deep hole Application platin
Slide 20: Advanced Packaging
Advanced Packaging Comprehensive solution for wafer and panel-level advanced packaging wet process Scrubber Coater Developer ECP SFP • Make use of ACM Research’s Cleaning Tape Frame Clean technology advantages to expand application in Asia, especially advanced packaging manufacturers in China • Dedi
Slide 21: Panel-level Packaging
Panel-level Packaging A comprehensive suite of wet processing and plating tools engineered for Panel-Level Packaging (PLP), supporting next-gen chiplet integration and advanced packaging nodes. Ultra C vac-p Flux Cleaning Ultra C bev-p Panel Bevel Etch & Clean Ultra ECP ap-p Horizontal Panel Plating
Slide 22: Q4 2025 GAAP to Non-GAAP Reconciliation
Q4 2025 GAAP TO NON-GAAP RECONCILIATION 22
Slide 23: 2025 GAAP to Non-GAAP Reconciliation
2025 GAAP TO NON-GAAP RECONCILIATION 23