ACM Research (ACMR) Investor presentation summary

Technology and product innovation

• Differentiated semiconductor equipment technology enhances yields and reduces chemical use, supported by over 594 patents globally as of 12/31/25.

• Broad product portfolio includes cleaning, ECP, furnace, PECVD, track, and advanced packaging tools, covering over 90% of cleaning process steps.

• Recent launches include Ultra Pmax PECVD, Ultra Track Coater/Developer, and advanced panel-level packaging tools.

• ACM Planetary Family product structure introduced, organizing offerings into series for cleaning, plating, furnace, PECVD, and packaging.

• Continuous innovation with major performance breakthroughs and new product evaluations underway.

Financial performance and growth

• Achieved $231.3M revenue in Q1 2026, up 34.2% year-over-year, with total shipments of $240.7M.

• Maintained strong gross margins: 46.4% GAAP and 46.5% non-GAAP in Q1 2026.

• Q1 2026 GAAP operating income was $36.2M (15.6% of revenue); non-GAAP operating income was $41.8M (18.1% of revenue).

• Five-year revenue CAGR of 42%, with FY25 revenue reaching $901M and a diversified product mix.

• Long-term internal target set for $4B+ in annual revenue, driven by expansion in China and international markets.

Market and customer base

• Supplies leading global semiconductor manufacturers, with a balanced customer mix across memory, foundry/logic, and packaging.

• Largest customer accounted for 16.9% of 2025 revenue; top four customers made up 52.2%.

• Revenue mix shifting, with cleaning at 53%, ECP/furnace/other at 36%, and advanced packaging/other at 11% in Q1 2026.

• Estimated 2025 serviceable available market (SAM) of $21B, with significant opportunities in cleaning, PECVD, track, and advanced packaging.

• Global footprint includes facilities in the US, China, Korea, and Europe, with new Oregon production center to support reshoring and growth.