Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Q4 2024 Earnings Presentation
15 slides from Acm Research's earnings presentation, Feb 26, 2025
Slide 1: Earnings Release – Fourth Quarter and Fiscal Year 2024
Supplemental Investor Presentation Earnings Release – Fourth Quarter and Fiscal Year 2024 February 26, 2025
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 2024 Summary
Q4 and 2024 Summary Q4 2024 Financial Results • $223.5 million revenue (up 31% y/y); total shipments of $264 million (up 88% y/y) • 49.8% non-GAAP gross margin (versus 46.8% in Q4 2023) • $52.8 million non-GAAP operating income (up 46.4% y/y) 2024 Financial Results • $782.1 million revenue (up 40% y
Slide 4: Innovative Product Introductions Expanding Serviceable Available Market (SAM)
Innovative Product Introductions Expanding Serviceable Available Market (“SAM”) 1 PECVD | $4.7B Introduced late 2022 Track | $2.8B Introduced late 2022 Estimated 2024 SAM of $18 billion addressed by 2020: Furnace, LPCVD, Furnace | $2.3B ACM Research’s current Vacuum Anneal, High- Temperature Oxidati
Slide 5: 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 $5.9B $1.7B 55% $910M ECP $1.0 $0.3 55% $155 Furnace $2.3 $0.7 15% $100 PECVD $4.7 $1.3 1
Slide 6: Tier One Customer Base
Tier One Customer Base Back-End and Wafer Mfg Front-End Customers Customers • ACM 2024 Revenue %: 14% • ACM 2024 Revenue %: 12% • ACM 2024 Revenue %: 15% • Mainland China’s largest foundry • Major new entrant into NAND flash and DRAM • Leading advanced foundry in China industry • Tier-one customers
Slide 7: Q4 and 2024 Revenue Detail
Q4 and 2024 Revenue Detail Revenue by Product: Q4’24 vs Q4’23 Revenue by Product: 2024 vs 2023 31.2% $223.5M $782.1M 40.2% 7% Advanced Packaging & Other 7% Advanced Packaging & Other $170.3M 23% ECP, Furnace & Other 19% ECP, Furnace & Other 9% $557.7M 9% 19% 19% 69% Cleaning 74% Cleaning 72% 72% Q4’
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: 2025 Outlook
2025 Outlook • Maintain 2025 Revenue Guidance Range: $850M - $950M • 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 for
Slide 11: Q4 2024 Financial Results
Q4 2024 Financial Results Revenue Non-GAAP Gross Profit +31.2% +39.6% $223.5M $111.2M $170.3M $79.6M 49.8% 46.8% Q4‘23 Q4’24 Q4’23 Q4’24 EPS Balance Sheet Finished goods inventory GAAP Non-GAAP End ing cash & ca sh equ ivale nts 1 $0.46 $0.56 $442M $288M $367M $369M $0.43 $305M $299M $263M $279M $29
Slide 12: 2024 Financial Results
2024 Financial Results Revenue Non-GAAP Gross Profit +40.2% $782.1M +41.9% $393.9M $557.7M $277.6M 50.4% 49.8% 2023 2024 2023 2024 EPS Balance Sheet Finished goods inventory GAAP Non-GAAP End ing cash & ca sh equ ivale nts 1 $1.53 $2.26 $442M $288M $367M $369M $1.16 $1.63 $305M $299M $293M $263M $27
Slide 13: Appendix
Appendix
Slide 14: Q4 2024 GAAP to Non-GAAP Reconciliation
Q4 2024 GAAP to Non-GAAP Reconciliation Three Months Ended December 31, 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 $ 223,471 $ - $ - $ 223,471 $ 170,321 $ - $ - $ 170,3
Slide 15: 2024 GAAP to Non-GAAP Reconciliation
2024 GAAP to Non-GAAP Reconciliation Year Ended December 31, 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 $ 782,118 $ - $ - $ 782,118 $ 557,723 $ - $ - $ 557,723 Cost of