Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Q1 2022 Earnings Presentation
12 slides from Acm Research's earnings presentation, May 6, 2022
Slide 1: Supplemental Investor Presentation: Earnings Release – First Quarter 2022
Supplemental Investor Presentation Earnings Release – First Quarter 2022 May 6, 2022
Slide 2: Forward-Looking Statements
Forward-Looking Statements. Information presented below under “Q1 2022 Summary” with respect to serviceable available market expectations, under “2022 Outlook” with respect to revenue projected to be generated in 2022, under “Shanghai Manufacturing Facilities” with respect to expected commencement o
Slide 3: Q1 2022 Summary
Q1 2022 Summary Q1 2022 Financial Results • $42.2 million revenue (down 3.5% from Q1 2021); total shipments of $67 million • 46.7% GAAP Gross Margin (versus 41.3% in Q1 2021) • 46.9% non-GAAP Gross Margin (versus 41.4% in Q1 2021) • $9.3 million GAAP Operating Loss (22.1% of revenue) • $7.9 million
Slide 4: Q1 2022 Financial Results
Q1 2022 Financial Results Revenue Non-GAAP Gross Profit -3.5% +9.3% 41.4% 46.9% Q1‘21 Q1’22 Q1’21 Q1’22 EPS Balance Sheet Data1 GAAP Non-GAAP Finished goods inventory Ending cash & cash equivalents 2 $92M Q1’21 Q1’22 Q1’21 Q1’22 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 1 Finished goods inventory represents ‘de
Slide 5: Q1 2022 Revenue Details
Q1 2022 Revenue Details Product Category1,2,3 Cleaning -4% • $26.0M revenue (down 20% from Q1 2021) $43.8M $42.1M • Revenue mix 62% vs. 74% last year 13% 9% Advanced Packaging & Other 13% 29% ECP, Furnace & Other ECP, Furnace & Other • $12.2M revenue (up 121% from Q1 2021) • Revenue mix 29% vs. 13%
Slide 6: 2022 Outlook
2022 Outlook • Maintain 2022 revenue guidance of $365 to $405 million • Projected 48% year-over-year growth at the mid-point • Outlook assumes: • Stability with respect to global COVID-19 pandemic • Stability in U.S.-China trade policies • Timely return to scale of ACM’s production and shipping oper
Slide 7: Appendix
Appendix
Slide 8: Q1 2022 GAAP to Non-GAAP Reconciliation
Q1 2022 GAAP to Non-GAAP Reconciliation Three Months Ended March 31, 2022 2021 Actual Other non- Adjusted Actual Other non- Adjusted SBC operating SBC operating (In thousands) (GAAP) adjustments (Non-GAAP) (GAAP) adjustments (Non-GAAP) Revenue $ 42,186 $ - $ - $ 42,186 $ 43,732 $ - $ - $ 43,732 Cost
Slide 9: Tier One Customer Base
Tier One Customer Base Front-End Customers Back-End Customers • Major new entrant into NAND flash and • Leading advanced foundry in China • Global market leader in memory (DRAM & • Largest bumping house in China and DRAM industry • Manages first fully automated 300mm NAND) semiconductor products lea
Slide 10: Shanghai Manufacturing Facilities
Shanghai Manufacturing Facilities Factory #1 (Shanghai HQ) Factory #2 Lingang Under Construction • Original ACM factory • Located in Chuansha area of Pudong district, • Broke ground on the new R&D and approximately 11 miles from ACM Shanghai’s production facilities in Lingang region of • 36,000 sq.
Slide 11: Innovative Product Introductions Expanding SAM
Innovative Product Introductions Expanding SAM1 Double Estimated SAM of $8 2 New 2022 Product Current billion addressed by Categories SAM ACM’s current and near-term product portfolio1 2020: Furnace, ACM targets to double LPCVD, Vacuum Anneal, High- Furnace | $2.9B its SAM with the Temperature Oxida
Slide 12: Internal Longer-term Working Target of $1B
Internal Longer-term Working Target of $1B Advanced Packaging & Other >$1,000M ECP, Furnace & Other Longer-term Target Assumptions1 Cleaning ACM Mainland China SAM Share Revenue Cleaning $0.9B 50% $0.5B ECP $0.3B 50% $0.2B Furnace $0.8B 30% $0.2B $385M Ad. Packaging $0.1B Midpoint New Products >$2B