Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Investor Presentation (November 2024)
19 slides from Acm Research's investor presentation, November 2024
Slide 1: ACM Research, Inc. November 2024 Investor Presentation
ACM Research, Inc. November 2024 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 $558 Advanced Packaging & Other 9% +49% $389 14% 19% 10% 13% $260 14% 20% 13% 72% $157 70% 73% 84% 73% $108 $75 FY21 FY22 FY23 FY18 FY19 FY20 FY21 FY22 FY23 $260M $389M $558M 1. Cleaning: Single wafer cleaning, Tahoe and se
Slide 5: History of Innovation and Customer Design Wins
History of Innovation and Customer Design Wins 4 evaluation agreements with Dr. Wang SK Hynix Launches SFP, major industry Launches Ultra establishes places first Opens 2nd Ships Tahoe & furnace and players, including a PmaxTM PECVD and ECP & Furnace Major ACM Research major Ships TEBO production fa
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) ACM Korea Shanghai Asia-Pacific Manufacturing Center >200,000 ft2 (Chuansha) Research Institute & Manufacturing Center Orego
Slide 7: Tier 1 Customer Base
Tier 1 Customer Base Front-End Customers Back-End Customers • ACM Research 2023 Revenue %: 18% • ACM Research 2023 Revenue %: 15% • ACM Research 2023 Revenue %: 13% • Largest bumping house in China and • A semiconductor integrated circuit • New China-based entrant to DRAM leading WLCSP production ba
Slide 8: Innovative Product Introductions Expanding Serviceable Available Market
Innovative ProductIntroductions Innovative Product Introductions Expanding Expanding Serviceable Serviceable Available Available MarketMarket (“SAM”)(“SAM”) 1 1 PECVD | $4.3B Introduced late 2022 Track | $2.5B Introduced late 2022 Estimated 2023 SAM of $16 billion addressed by 2020: Furnace, ACM Res
Slide 9: Long-Term Target for $3B in Revenue
Long-Term Target for $3B in Revenue Advanced Packaging & Other Long-Term Target Composition > $3B* ECP, Furnace & Other ACM Research Cleaning Mainland China ACM Research SAM1 China SAM2 Share3 Revenue Cleaning $5.2B $1.6B 55% $850M ECP $1.2 $0.4 55% $200 Furnace $2.2 $0.7 15% $100 PECVD $4.3 $1.3 15
Slide 10: Growth Strategy
Growth Strategy Growth at Existing 111 111 New Products International Expansion New Capacity Customers • Continue winning share at existing • SAPS cleaning tool qualified for • Opening of new R&D and production • Broad product portfolio covering 90%+ customers revenue by a large US manufacturer faci
Slide 11: Q3 2024 Summary
Q3 2024 Summary Q3 2024 Financial Results • $204.0 million revenue (up 21% y/y); total shipments of $261 million (up 23% y/y) • 51.4% GAAP gross margin (versus 52.5% in Q3 2023) • 51.6% non-GAAP gross margin (versus 52.9% in Q3 2023) • $44.2 million GAAP operating income (21.7% of revenue) • $56.1 m
Slide 12: Q3 2024 Financial Results
Q3 2024 Financial Results Revenue Non-GAAP Gross Profit +21.0% +18.2% $204.0M $105.3M $168.6M $89.1M 52.9% 51.6% Q3‘23 Q3’24 Q3’23 Q3’24 EPS Balance Sheet Fi ni shed goods invent ory GAAP Non-GAAP Ending cash & cash equivalent s 1 $0.45 $0.63 $367M $369M $0.39 $0.57 $326M $305M $288M $279M $299M $26
Slide 13: Q3 and YTD 2024 Revenue Detail
Q3 Q3and andYTD 2024Revenue YTD Revenue Detail Detail Revenue by Product: Q3’24 vs Q3’23 Revenue by Product: 9M’24 vs 9M’23 21.0% 44.2% $558.6M $204.0M 6% Advanced Packaging & Other 4% Advanced Packaging & Other $168.6M 17% ECP, Furnace & Other 18% ECP, Furnace & Other 6% $387.4M 15% 9% 18% 79% Clea
Slide 14: 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 15: Electroplating
Electroplating Ultra ECP ap Model Ultra ECP map Ultra ECP 3D Ultra ECP ap Ultra ECP GIII Ultra ECP ap-p (Cu-Ni-SnAg-Au) Pillar bump, Solder RF product Pillar bump, RDL Dual-damascene plating 3D/2.5D high aspect High-density Fan Out Application bump, RDL, Conformal 150mm wafer-level 510mmx515mm or (9
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 oxygen/nitrogen annealing 700~1200℃ ★ Normal Pressure Annealing Chemi
Slide 17: 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 18: Track and PECVD
Track and PECVD Model Model Technical Features Offline/Inline Chamber Temperature Bake Range Development Phase ArF Model 23°C ±0.1°C 50~250°C Industry Evaluation ✓ Support 300mm wafers ✓ Four 12-inch load ports Inline ✓ 8 coating chambers Ultra LithTM Track ✓ 8 developing chambers Coater/Developer —
Slide 19: Q3 2024 GAAP to Non-GAAP Reconciliation
Q3 2024 GAAP to Non-GAAP Reconciliation Three Months Ended September 30, 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 $ 203,976 $ - $ - $ 203,976 $ 168,569 $ - $ - $ 168,