On February 26, 2026, ACM Research, Inc. (NASDAQ: ACMR), a prominent provider of wafer processing solutions for semiconductor and advanced packaging applications, unveiled its financial results for the fourth quarter and the entirety of fiscal year 2025. The company reported a remarkable annual revenue of $901 million, representing a 15% increase year-over-year, significantly outpacing the anticipated growth in China’s wafer fabrication equipment (WFE) market.

Dr. David Wang, President and CEO of ACM Research, highlighted the company's robust performance in 2025, stating, "We delivered record annual revenue... We strengthened our foundation for long-term growth by advancing new products, expanding our global production capacity, and enhancing global funding initiatives."

2. Product Innovation and Customer Engagement

ACM Research's success can be attributed to its innovative product offerings. The company has expanded its comprehensive cleaning portfolio and introduced a proprietary high-temperature furnace platform alongside horizontal panel-level plating solutions. Dr. Wang emphasized that these advancements are designed to meet the increasingly intricate demands of semiconductor processes while fostering deeper relationships with leading global customers.

In a positive indication of its market position, ACM reported significant progress in 2026, including the delivery of several cleaning tools to Singapore and multiple orders for wafer-level and panel-level packaging tools from three major global customers.

3. Financial Highlights

Fourth Quarter Analysis

For the three months ending December 31, 2025, ACM's financial performance demonstrated resilience despite the challenges faced in the semiconductor industry:

Revenue: $244.4 million, an increase from $223.5 million in Q4 2024.

Gross Margin: 40.9%, a decline from 49.6% in the previous year.

Income from Operations: $23.0 million, down from $44.0 million in Q4 2024.

Net Income: $8.0 million, a decrease compared to $31.1 million in Q4 2024.

Earnings Per Share (EPS): Basic EPS of $0.12 and diluted EPS of $0.11.

Year-End Performance

For the fiscal year ended December 31, 2025, ACM's results reflected a solid upward trajectory:

Revenue: $901.3 million, rising from $782.1 million in 2024.

Gross Margin: 44.4%, down from 50.1% in the prior year.

Income from Operations: $109.4 million, compared to $151.0 million in 2024.

Net Income: $94.1 million, a slight decline from $103.6 million in 2024.

Earnings Per Share (EPS): Basic EPS of $1.47 and diluted EPS of $1.37.

4. Strong Cash Position and Future Outlook

ACM concluded the fiscal year with a robust net cash position of $845 million, bolstered significantly by $623 million raised from a private offering of ordinary shares completed in September 2025. Additionally, on February 6, 2026, the company executed a strategic move by selling approximately 1.3% of its shares held in ACM Shanghai, yielding gross proceeds of around $111 million.

Looking forward, Dr. Wang maintained an optimistic outlook for 2026, projecting revenue between $1.08 billion and $1.175 billion, signifying a growth rate of 21-30%. He anticipates incremental contributions from various product lines, including Tahoe, SPM cleaning, and furnace solutions, while also highlighting the ongoing momentum in advanced packaging.

ACM is also accelerating investments in its Oregon operations, expected to commence in the latter half of 2026, which will further support its expansion into additional global markets. Dr. Wang expressed confidence in the company’s capabilities, stating, “We believe ACM has the customers, the products, the capacity, and the capital to execute on our global business plan and we remain committed to our long-term target of $4 billion in revenue.”

5. Conclusion

ACM Research's fourth quarter and full-year results showcase the company's resilience and strategic focus in the semiconductor equipment sector. With a strong financial foundation and an ambitious growth strategy, ACM is poised to capitalize on emerging trends and opportunities in the semiconductor landscape. As the company navigates the complexities of global markets, its commitment to innovation and customer engagement will be pivotal in driving future success.

Original press release