Acm Research, Inc. · NASDAQ:ACMR
Acm Research — Investor Presentation (September 2020)
16 slides from Acm Research's investor presentation, September 2020
Slide 1: Advanced Wet-Cleaning Tools for Leading Edge IC Fabs
Advanced Wet-Cleaning Tools for Leading Edge IC Fabs September 2020
Slide 2: Forward-Looking Statements and Market Data
Forward-Looking Statements. Information presented below under “2020 Outlook” with respect to revenue projected to be generated in 2020 is a forward-looking statement for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may vary significan
Slide 3: Who is ACM Research?
Who is ACM Research? Mission Statement: To Become a Leading Global Provider of Semiconductor Capital Equipment • Best-in-class semiconductor wafer cleaning tools providing higher yields and better efficiency at advanced fabs than conventional wafer Clean cleaning tools SAPS TEBO Ultra – C Tahoe • Di
Slide 4: 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 5: Single-Wafer Wet Cleaning Products
Single-Wafer Wet Cleaning Products Innovative, patent-protected tools address critical challenges in leading edge IC manufacturing SAPS TEBO Ultra – C Tahoe Megasonic Cleaning for Bubble Oscillation Cleaning for Hybrid Wafer Cleaning With Significant Flat and Patterned Wafer Patterned Wafers at Adva
Slide 6: Innovation and Product Introductions Expanding Addressable Market
Innovation and Product Introductions Expanding Addressable Market ACM forecasts that SAPS, TEBO, Tahoe and Semi-Critical tools address more than 80% of the wet cleaning market SFP, ECP and Furnace further expand ACM’s market opportunity Future Products World-class R&D team SFP, ECP, focused on innov
Slide 7: Shanghai Manufacturing Facilities – Existing and Planned
Shanghai Manufacturing Facilities – Existing and Planned Factory #1 (Shanghai HQ) Facility #2 Lingang Under Construction • Original ACM factory • Second factory; opened in September 2018 • Broke ground on the new R&D and production facilities in Lingang region of • 36,000 sq. ft. facility • 100,000
Slide 8: Well-Positioned to Participate in Asia Fab Investments
Well-Positioned to Participate in Asia Fab Investments Semiconductor Industry Development ($ in billions) New Facilities and Industry Center Shifts China is the Fastest Production Lines Starting Through the Decades(1) Growing Geography(2) Operation (2017-2020)(1) Rank Country or 2020 16-'20 Region S
Slide 9: Growth Strategy
Growth Strategy 111 Selective Acquisitions 111 Add New Customers • Use M&A to broaden product Continue to111 Build Scale in portfolio, add complementary Asia • Megasonic approaches SAPS, technologies and increase New Product Introductions TEBO, Tahoe and ECP a driving access to the global market Inc
Slide 10: History of Innovation & Customer Adoption
History of Innovation & Customer Adoption Launched Tahoe & ECP SFP, Vertical YMTC, SMIC, SK Hynix Major TEBO Demo Unit 2nd Factory First Tools Furnace and Founded in and HLMC Evaluation SAPS Orders to HLMC; Expands New DRAM Semi-critical Silicon Valley Placed SAPS Begins From SK Hynix Revenue in 4Q1
Slide 11: Q2 2020 Highlights
Q2 2020 Highlights • Strong Q2 Results: $39.0 million revenue, up 35% from Q2 2019; total shipments of $45 million 49.6% GAAP gross margin and 18.8% GAAP operating margin 49.7% non-GAAP gross margin and 21.0% non-GAAP operating margin Ended Q2 with $86 million of cash • Key Operational Progress:
Slide 12: Q2 2020 Financial Results
Q2 2020 Financial Results $ Millions Revenue Gross Profit $39.0 $19.4 $19.4 $29.0 $13.1 $13.2 49.7% 49.6% 45.3% 45.4% Gross Profit Non-GAAP Adjusted Gross Profit Q2'19 Q2'20 Q2'19 Q2'20 Operating Income Balance Sheet Data* $8.2 $86.4 $7.3 $58.3 $5.3 $52.3 $4.7 $47.3 21.0% 18.8% $27.6 $18.6 $19.3 $17
Slide 13: Investment Highlights
Investment Highlights Gaining share in the ~$3B wafer cleaning market (1) Innovative, patent-protected tools address critical challenges in leading-edge IC manufacturing Tier 1 global customer base in DRAM, NAND and foundry / logic New product introductions in 2020 have more than doubled SAM China-b
Slide 14: GAAP to Non-GAAP Reconciliation (1)
GAAP to Non-GAAP Reconciliation (1) ($ in millions) 2017 2018 2019 6 months Ended 6/30/2020 6 months Ended 6/30/2019 GAAP Income from Operations $0.7 $6.5 $17.8 $8.6 $6.9 Plus: Stock-based Compensation $1.6 $3.4 $3.6 $1.5 $1.4 Adjusted Income from Operations $2.3 $9.8 $21.4 $10.1 $8.3 GAAP Net Incom
Slide 15: GAAP to Non-GAAP Reconciliation (2)
GAAP to Non-GAAP Reconciliation (2) ($ in millions) Three Months Ended June 30, GAAP Non-GAAP(1) 2020 2019 2020 2019 (dollars in thousands) Revenue $ 39,049 $ 29,010 $ 39,049 $ 29,010 Gross margin 49.6% 45.3% 49.7% 45.4% Income from operations $ 7,336 $ 4,661 $ 8,191 $ 5,279 Net income attributable
Slide 16: GAAP to Non-GAAP Reconciliation (3)
GAAP to Non-GAAP Reconciliation (3) Three Months Ended June 30, 2020 2019 Actual Adjusted Actual Adjusted Change in fair SBC value of SBC (GAAP) (Non-GAAP) (GAAP) (Non-GAAP) financial liability (In thousands) Revenue $ 39,049 $ - $ - $ 39,049 $ 29,010 $ - $ 29,010 Cost of revenue (19,693) (43) - (19
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