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Sep 30, 2025
ACM Research Q3 2025 Earnings Report
ACM Research reported strong revenue growth and new product milestones in Q3 2025, despite lower margins.
Key Takeaways
ACM Research delivered a 32% year-over-year revenue increase in Q3 2025, driven by strength across product categories. However, gross and operating margins declined due to higher operating expenses and product mix. The company shipped its first KrF Track system and narrowed FY25 revenue guidance.
Revenue by Segment
Forward Guidance
ACM Research narrowed its full-year 2025 revenue guidance to a range of $875 million to $925 million.
Positive Outlook
- Strong Q3 revenue growth across all major product segments.
- Successful capital raise by ACM Shanghai of approximately $623 million.
- Launch and first shipment of the Ultra Lith KrF Track system.
- Introduction of the Ultra ECDP tool for compound semiconductor gold etch.
- Significant increase in cash reserves, now over $1 billion.
Challenges Ahead
- Gross margin declined to the low end of target range (42%).
- Operating margin decreased to 10.7%, down from 21.7% YoY.
- Higher operating expenses, especially in R&D and G&A.
- Revenue guidance narrowed, reducing upper-end outlook.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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