ACM Research reported revenue and shipments up 36% year-over-year with gross margin steady at 46%, yet the stock’s modest 0.5% gain suggests investors found the results largely in line with expectations without meaningful upside or notable concerns.
- Revenue reached $293 million, increasing 36% year-over-year, driven by strong growth in ECP and advanced packaging products (both up more than 150%).
- Shipments also rose 36% to $282 million, with a shipment growth rate expected to continue outpacing revenue.
- Gross margin held stable at 46%, and operating profit margin remained around 19%.
- The order book saw a robust 105% increase year-over-year in the first half of 2026, backed by new panel-level plating technology orders from multiple customers.
- Cash position remains strong with $1.4 billion gross cash and $1.0 billion net cash, following a recent $150 million registered direct offering.
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