Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Investor Presentation (November 2023)
19 slides from Acm Research's investor presentation, November 2023
Slide 1: Advanced Production Tools for Leading Edge IC Fabs
ADVANCED PRODUCTION TOOLS FOR LEADING EDGE IC FABS Advanced wafer cleaning technologies November 2023 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 capital Cleaning equipment to leading global semiconductor Flagship (SAPS, TEBO, Tahoe) Semi-Critical manufacturers • Differentiated technology improves customer production processes with better yields and reduced chemical consumptio
Slide 4: Financial Highlights
Financial Highlights Total Revenue Product Mix Cleaning ECP, Furnace & Other $389 Advanced Packaging & Other 10% +60% $260 14% 20% 14% 8% 8% 13% 13% $157 70% $108 73% 84% $75 84% 73% $37 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 $157M $260M $389M 1. Cleaning: Single wafer cleaning, Tahoe and semi
Slide 5: History of Innovation and Customer Design Wins
History of Innovation and Customer Design Wins 4 evaluation agreements with Dr. Wang SK Hynix Opens 2nd Launches SFP, major industry Launches Ultra establishes places first production facility Ships Tahoe & furnace and players, including a PmaxTM PECVD and ACM Research major Ships TEBO in Chuansha,
Slide 6: Global Semiconductor Capital Equipment Supplier
Global Semiconductor Capital Equipment Supplier ACM Shanghai ACM Research R&D and Manufacturing Center Headquarters NASDAQ: ACMR Shanghai R&D Center (Zhangjiang) Shanghai Asia-Pacific Manufacturing ACM South Korea Center >200,000 ft2 (Chuansha) Research Institute & Manufacturing Center Planned >1.4
Slide 7: Tier 1 Customer Base
Tier 1 Customer Base Front-End Customers Back-End Customers • Mainland China’s largest foundry • One of the leading advanced foundries in • Tier-one customers include Qualcomm, • Major new entrant into NAND flash and • One of the largest bumping houses in China Broadcom and Texas Instruments DRAM in
Slide 8: Innovative Product Introductions Expanding Serviceable Available Market (SAM)
Innovative Product Introductions Expanding Serviceable Available Market (“SAM”)1 PECVD | $4.2B Introduced late 2022 Track | $2.6B Introduced late 2022 Estimated 2022 SAM of $16 billion addressed by 2020: Furnace, ACM Research’s current LPCVD, Vacuum Anneal, High- Furnace | $3.2B product portfolio Te
Slide 9: Longer-Term Target for $1B+ in Revenue
Longer-Term Target for $1B+ in Revenue Advanced Packaging & Other >$1,000M* ECP, Furnace & Other Longer Term Target Composition Cleaning ACM Research 1 Mainland China SAM Share Revenue Cleaning $0.7B 55% $0.4B ECP $0.2B 50% $0.1B Furnace $0.5B 35% $0.2B PECVD $0.7B 15% $0.1B $530M Track $0.4B 15% $0
Slide 10: Growth Strategy
Growth Strategy Growth at Existing 111 111 International Expansion New Capacity New Products Customers • Continue winning share at existing • Expanding dedicated sales team in U.S. • Lingang facility on track for initial • Broad cleaning portfolio covers 90%+ customers and Europe production for earl
Slide 11: Q3 2023 Summary
Q3 2023 Summary Key Operational Updates • Solid growth amid declining global WFE driven by share gains, penetration from new products and new customers and healthy mature node expansion in China • New P.O. from major U.S. customer for ULTRA C b backside cleaning and bevel etch tool; expected to be s
Slide 12: Q3 2023 Financial Results
Q3 Q12023 2022Financial ResultsResults Financial Revenue Non-GAAP Gross Profit +26.1% +34.8% $168.6M $89.1M $133.7M $66.1M 52.9% 49.4% Q3‘22 Q3’23 Q3‘22 Q3’23 Diluted EPS Balance Sheet Finished goods inventory GAAP Non-GAAP Ending cash & cash equivalents 1 $0.39 $0.57 $473M $0.32 $421M $382M $0.42 $
Slide 13: Q3 and YTD Revenue Details
Q3 Q1and YTD Revenue 2022 2023 Revenue Detail Details Revenue by Product: Q3’23 vs Q2’22 Revenue by Product: 9M’23 vs 9M’22 38.2% $387.4M 9% Advanced Packaging & Other 26.1% $168.6M 18% ECP, Furnace & Other 6% Advanced Packaging & Other $280.3M $133.7M 15% ECP, Furnace & Other 9% 7% 20% 18% 73% Clea
Slide 14: Wafer Cleaning
Wafer Cleaning Flagship Cleaning Tools SAPS TEBO Ultra – C Tahoe Bevel Etch Single high tem 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 Patterned Wafer
Slide 15: Electroplating
Electroplating Ultra ECP ap Model Ultra ECP map Ultra ECP 3D Ultra ECP ap Ultra ECP GIII (Cu-Ni-SnAg-Au) Dual-damascene plating Pillar bump, Solder bump, High-density Fan Out RF product Application 3D/2.5D high aspect ratio TSV (90nm-28nm) RDL, Conformal TSV Fine Pitch RDL 150mm wafer-level packagin
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 Product Development Oxidation Wet oxygen/dry 700~1200℃ ★ Normal Pressure Annealing oxygen/nitrogen annealing Chemical Vapor
Slide 17: Advanced Packaging
Advanced Packaging Comprehensive solution for wafer-level advanced packaging wet process Scrubber Coater Developer ECP • Make use of ACM Research’s technology advantages to expand application in Asia, especially advanced packaging manufacturers in China • Dedicated to providing diversified and custo
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 ü Support 300mm wafers ü Four 12-inch load ports Inline ü 8 coating chambers Ultra LithTM Track ü 8 developing chambers Coater/Developer —
Slide 19: Q3 2023 GAAP to Non-GAAP Reconciliation
Q3 2023 GAAP to Non-GAAP Reconciliation Three Months Ended September 30, 2023 2022 Actual Other non- Adjusted Actual Other non- Adjusted SBC operating SBC operating (GAAP) adjustments (Non-GAAP) (GAAP) adjustments (Non-GAAP) (In thousands) Revenue $ 168,569 $ - $ - $ 168,569 $ 133,709 $ - $ - $ 133,