ACM Research, Inc. income statement
In fiscal 2025, ACM Research, Inc. reported revenue of $901m, up 15.2% on the year before, operating income of $109m (a 12.1% margin) and net income of $94.1m, or $1.37 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 27 | 37 | 75 | 108 | 157 | 260 | 389 | 558 | 782 | 901 | 1,038 |
| Cost of revenue | 14 | 19 | 40 | 57 | 87 | 145 | 205 | 282 | 391 | 501 | 583 |
| Gross profit | 13 | 17 | 34 | 51 | 70 | 115 | 184 | 276 | 392 | 400 | 455 |
| Research and development | 3 | 5 | 10 | 13 | 19 | 34 | 62 | 93 | 105 | 145 | 162 |
| Selling and marketing | — | — | 10 | 12 | 17 | 27 | 40 | 47 | 65 | 77 | 83 |
| General and administrative | 3 | 6 | 8 | 8 | 12 | 15 | 22 | 41 | 70 | 69 | 72 |
| Operating income | 3 | 1 | 6 | 18 | 21 | 39 | 59 | 96 | 151 | 109 | 138 |
| Interest expense | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 4 | 7 | 8 |
| Net interest income | −0 | −1 | 1 | — | — | — | — | — | — | — | — |
| Income before tax | 3 | −0 | 7 | 19 | 19 | 43 | 67 | 116 | 166 | 135 | 236 |
| Income tax | 1 | 1 | 1 | −1 | −2 | 0 | 17 | 19 | 35 | 13 | 26 |
| Net income | 1 | −0 | 7 | 19 | 19 | 38 | 39 | 77 | 104 | 94 | 150 |
| Diluted EPS | $0.06 | −$0.02 | $0.12 | $0.33 | $0.30 | $0.58 | $0.59 | $1.16 | $1.53 | $1.37 | $2.17 |
| Diluted shares (average) | 11m | 21m | 54m | 57m | 64m | 65m | 65m | 65m | 66m | 67m | 69m |
| EBITDA | 4 | 1 | 7 | 19 | 23 | 41 | 64 | 103 | 158 | 124 | 158 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 204 | 223 | 172 | 215 | 269 | 244 | 231 | 293 |
| Cost of revenue | 99 | 113 | 90 | 111 | 156 | 145 | 124 | 158 |
| Gross profit | 105 | 111 | 83 | 104 | 113 | 100 | 107 | 135 |
| Research and development | 28 | 28 | 28 | 34 | 40 | 44 | 37 | 42 |
| Selling and marketing | 16 | 18 | 16 | 22 | 22 | 16 | 21 | 24 |
| General and administrative | 17 | 21 | 13 | 17 | 22 | 17 | 14 | 19 |
| Operating income | 44 | 44 | 26 | 32 | 29 | 23 | 36 | 50 |
| Interest expense | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 |
| Income before tax | 43 | 56 | 27 | 38 | 49 | 21 | 30 | 136 |
| Income tax | 4 | 17 | 2 | 2 | 3 | 7 | 4 | 13 |
| Net income | 31 | 31 | 20 | 30 | 36 | 8 | 17 | 89 |
| Diluted EPS | $0.45 | $0.46 | $0.30 | $0.44 | $0.52 | $0.11 | $0.24 | $1.23 |
| EBITDA | 47 | 43 | 28 | 35 | 31 | 29 | 41 | 56 |
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