Slide 1: Supplemental Investor Presentation: Q4 and Fiscal Year 2022
Supplemental Investor Presentation Earnings Release – Fourth Quarter and Fiscal Year 2022 February 24, 2023
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 simila
Slide 3: FY22 and Q4'22 Summary
FY22 and Q4’22 Summary Q4 2022 Financial Results • Revenue was $108.5 million compared to $95.1 million last year • Shipments were a record $197 million up 69% year-over-year • Gross margin was 49.6% and non-GAAP operating margin was 17.7% 2022 Financial Results • $388.8 million revenue (up 49.7%);
Slide 4: 2022 Revenue Details
2022 Revenue Details Product Category1,2,3 Cleaning • $272.9M revenue (up 44%) 49.7% $388.8M • Revenue mix 70% vs. 73% 10% Advanced Packaging & Other 20% ECP, Furnace & Other ECP, Furnace & Other 65.8% $259.8M • $77.5M revenue (up 133%) 14% • Revenue mix 20% vs. 13% 13% $156.6M 8% 9% 70% Cleaning Ad
Slide 5: Tier One Customer Base
Tier One Customer Base Front-End Customers Back-End Customers • Mainland China’s largest foundry • Leading advanced foundry in China • Tier-one customers include Qualcomm, • Major new entrant into NAND flash and • Largest bumping house in China and • ACM Research 2022 Revenue %: 18% Broadcom and Tex
Slide 6: Manufacturing Facilities
Manufacturing Facilities Factory #1 (Shanghai HQ) Factory #2(Chuansha Production) Lingang • 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. ft. fac
Slide 7: Innovative Product Introductions Expanding SAM
Innovative Product Introductions Expanding SAM1 PECVD | $4.2B Introduced late 2022 Track | $2.6B Introduced late 2022 Estimated 2022 SAM of $16 billion addressed by 2020: Furnace, ACM’s current product LPCVD, Vacuum Anneal, High- Furnace | $3.2B portfolio Temperature Oxidation 2022: Furnace ALD 2017
Slide 8: Internal Longer-Term Target for $1B+ in Revenue
Internal 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 $550M PECVD $0.7B 15% $0.1B Track $0.
Slide 9: 2023 Outlook
2023 Outlook • Maintain 2023 revenue guidance of $515 to $585 million • Outlook reflects, among other things: • Current assessment of potential impact from US-China trade policy • Various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first
Slide 10: 2022 Financial Results
2022 Financial Results Revenue Non-GAAP Gross Profit +49.7% $388.8M +59.8% $184.1M $259.8M $115.3M 47.4% 44.4% 2021 2022 2021 2022 EPS Balance Sheet1 Finished goods inventory1 GAAP Non-GAAP Ending cash & cash equivalents 2 $0.58 $0.59 $0.83 $0.65 $563M $533M $469M $473M $421M $107M $103M $109M $147M
Slide 11: Q4 2022 Financial Results
Q4 2022 Financial Results Revenue Non-GAAP Gross Profit +14.1% +18.4% $108.5M $53.9M $95.1M $45.6M 49.7% 47.9% Q4‘21 Q4’22 Q4‘21 Q4’22 EPS Balance Sheet1 1 Finished goods inventory GAAP Non-GAAP Ending cash & cash equivalents 2 $0.23 $0.27 $0.18 $0.19 $563M $533M $469M $473M $421M $107M $103M $109M
Slide 12: Appendix
Appendix
Slide 13: 2022 GAAP to Non-GAAP Reconciliation
2022 GAAP to Non-GAAP Reconciliation 13
Slide 14: Q4 2022 GAAP to Non-GAAP Reconciliation
Q4 2022 GAAP to Non-GAAP Reconciliation Three Months Ended December 31, 2022 2021 Actual Other non- Adjusted Actual Other non- Adjusted SBC operating SBC operating (GAAP) (Non-GAAP) (GAAP) (Non-GAAP) adjustments adjustments (In thousands) Revenue $ 108,542 $ - $ - $ 108,542 $ 95,142 $ - $ - $ 95,142