NASDAQ:ACMR

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ACM Research Stock Rises 5% as Q2 Revenue Jumps 36% and Company Raises 2026 Outlook

ACM Research (NASDAQ: ACMR) shares rose about 5% Friday after the semiconductor equipment maker reported strong second-quarter 2026 results, highlighted by 36% revenue growth, expanding operating profitability and an increase to its full-year revenue outlook.

Revenue climbed 36% year over year to $292.9 million from $215.4 million. Total shipments also increased 36.4% to $281.5 million, signaling continued demand for ACM's wafer-processing and advanced packaging equipment.

GAAP operating income jumped to $49.7 million from $31.7 million, while operating margin improved to 17.0% from 14.7%. Non-GAAP diluted EPS increased to $0.61 from $0.55.

Advanced Packaging and ECP Drive Strong Growth

The composition of ACM's growth was particularly notable.

Revenue from ECP and advanced packaging categories increased 168% and 153%, respectively, as the company benefits from growing demand for more sophisticated semiconductor manufacturing and packaging technologies.

ACM also shipped its 2,000th electroplating chamber during the quarter, compared with milestones of 500 chambers in 2022 and 1,500 in 2025. Management said the technology is increasingly being adopted for high-volume logic, memory and 3D packaging production.

The company is also expanding products targeting advanced semiconductor applications, including GAA logic, DRAM and high-bandwidth memory, or HBM.

ACM Research Raises 2026 Revenue Guidance

A key catalyst for ACMR shares was management's improved full-year outlook.

ACM raised its fiscal 2026 revenue guidance to $1.125 billion-$1.175 billion from its previous range of $1.08 billion-$1.175 billion. The new outlook represents expected annual growth of approximately 25% to 30%.

Management also cited increased order activity as providing good visibility for the remainder of 2026.

ACM described 2026 as a "Big Year" for new products, with customer evaluations and product ramps underway across SPM Cleaning, Track, PECVD and horizontal panel-level plating platforms.

Profitability Improves Despite Lower Gross Margin

There was one notable area of pressure: gross margin declined to 46.0% from 48.5% a year earlier.

However, the margin remained above the midpoint of ACM's long-term target range of 42% to 48%, while strong revenue growth generated greater operating leverage.

Operating expenses increased 16.6%, considerably slower than the 36% increase in revenue. As a percentage of sales, operating expenses declined to 29.0% from 33.8%.

ACM also ended the quarter with approximately $1.0 billion in net cash, providing substantial financial capacity for continued product development and international expansion.

Why Is ACMR Stock Up 5% Today?

Friday's gain reflects a broadly strong earnings report: revenue and shipments grew approximately 36%, operating margin expanded, advanced packaging businesses delivered triple-digit growth and management raised its full-year revenue outlook.

The raised guidance is particularly supportive because it comes alongside increased order activity, suggesting the company's growth momentum could continue into the second half.

Investors may also be focusing on ACM's exposure to structural semiconductor trends such as advanced packaging, HBM and next-generation logic manufacturing.

Risks remain, particularly international trade policy and ACM's significant exposure to China, while gross-margin compression bears watching. Still, Friday's 5% advance suggests investors are placing greater weight on accelerating product adoption, strong order visibility and the company's upgraded 2026 growth outlook.
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Global Finance News 08-07-26

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WS Investor 01-11-26
ACM Research, Inc. Announces Dividend and Growth Plans for Its Chinese Subsidiary

FREMONT, Calif. — ACM Research, Inc. has announced that its primary operating subsidiary, ACM Research (Shanghai), Inc., approved key resolutions at its Annual Shareholder Meeting held in Shanghai on June 12, 2025.

Shareholders of ACM Shanghai authorized the distribution of a proposed dividend totaling approximately RMB 288.3 million (~$40.1 million), expected to be paid by year-end. However, the company noted that the dividend’s payment, net proceeds, and repatriation timeline to the U.S. remain uncertain. If received, the funds will be used for working capital and general corporate purposes.

In addition to the dividend, ACM Shanghai also approved its 2025 financial budget, which forecasts revenue growth of 16%–26% and R&D expense growth of 15%–35%, based on Chinese GAAP.

ACM Research holds an 81.1% stake in ACM Shanghai, which continues to represent a significant share of the company’s consolidated revenue and income. It also emphasized that financial results reported under Chinese GAAP may materially differ from those under U.S. GAAP, due to conversion and consolidation factors.

The company cautioned investors with a forward-looking statement disclaimer, citing potential risks and uncertainties that could impact the actual results.
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ME NEWS 06-16-25