ACM Research Posts Strong Q4 and Fiscal Year 2024 Results

ACM Research, Inc. (NASDAQ: ACMR) announced robust financial performance for the fourth quarter and full fiscal year ended December 31, 2024, according to its recent SEC Form 8-K filing. The company reported significant revenue and operating profit growth, driven by an expanded product portfolio and deepened customer engagements.

For the fourth quarter of 2024, revenue reached approximately $223.5 million—up 31.2% from $170.3 million recorded in the fourth quarter of 2023. Operating income increased to $44.0 million, representing an 88.2% improvement compared to the previous year’s quarter. Key product lines including single wafer cleaning systems and other equipment have contributed to improved margins, with GAAP gross margin in the quarter recorded at 49.6% (non-GAAP at 49.8%), placing results at the upper end of the company’s updated long-term target range of 42% to 48%.

For the full fiscal year 2024, revenue climbed to $782.1 million, marking a 40.2% increase over fiscal 2023’s $557.7 million. Operating income rose to $151.0 million on a GAAP basis and reached $200.6 million on a non-GAAP basis after adjustments to exclude stock-based compensation. The company recorded net income attributable to ACM Research, Inc. of $103.6 million under GAAP, with non-GAAP net income of $152.2 million. Basic and diluted earnings per share under GAAP were $1.67 and $1.53, respectively, compared with $1.29 and $1.16 in fiscal 2023.

According to a press release excerpted from the filing, President and CEO Dr. David Wang highlighted the year’s accomplishments, stating, “2024 was a year of strong execution for ACM. We expanded our product portfolio and broadened the addressable markets we serve.” Dr. Wang noted that the company drove revenue growth of 40% and boosted shipments by 63%, as well as achieved two critical operational milestones in the fourth quarter. ACM reached process qualification for its Thermal and Plasma-Enhanced ALD furnace tools at two semiconductor customers in mainland China and initiated operations at its Lingang production facility, with plans to transition additional capacity over the coming year.

Looking ahead to fiscal 2025, ACM is maintaining its revenue guidance in the range of $850 million to $950 million. The company has also updated its long-term business model gross margin target to 42% to 48%, reflecting ongoing operational improvements and market dynamics affected by international trade policies, supply chain challenges, and evolving customer spending scenarios.

The comprehensive financial results, which include detailed reconciliations from GAAP to non-GAAP measures, were disclosed in the company’s SEC Form 8-K filing with the full press release incorporated by reference. The filing also provided insights into the company’s balance sheet, operational metrics across various product categories and geographies, and other key indicators of financial health.

ACM Research’s strong performance in fiscal 2024 and its promising outlook for 2025 highlight its strategic focus on expanding market share in the semiconductor and advanced packaging industries while managing challenges in a dynamic global market environment.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read ACM Research’s 8K filing here.

About ACM Research

ACM Research, Inc, together with its subsidiaries, develops, manufactures, and sells single-wafer wet cleaning equipment for enhancing the manufacturing process and yield for integrated chips worldwide. It offers space alternated phase shift technology for flat and patterned wafer surfaces, which employs alternating phases of megasonic waves to deliver megasonic energy in a uniform manner on a microscopic level; timely energized bubble oscillation technology for patterned wafer surfaces at advanced process nodes, which provides cleaning for 2D and 3D patterned wafers; Tahoe technology for delivering cleaning performance using less sulfuric acid and hydrogen peroxide; and electro-chemical plating technology for advanced metal plating.