Acm Research Inc
NASDAQ: ACMR · TECHNOLOGY · SEMICONDUCTOR EQUIPMENT & MATERIALS
Updated 2026-06-22
Acm Research Inc (ACMR) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $31.21M | $27.37M | $36.51M | $74.64M | $107.52M | $156.62M | $259.75M | $388.83M | $557.72M | $782.12M | $901.31M |
| Revenue growth (YoY) | — | -12.3% | +33.4% | +104.5% | +44.1% | +45.7% | +65.8% | +49.7% | +43.4% | +40.2% | +15.2% |
| Cost of revenue | $17.09M | $14.04M | $19.28M | $40.19M | $56.87M | $87.03M | $144.90M | $205.22M | $281.51M | $390.56M | $501.24M |
| Gross profit | $14.12M | $13.33M | $17.23M | $34.45M | $50.65M | $69.60M | $114.86M | $183.62M | $276.21M | $391.55M | $400.07M |
| Gross margin | 45.3% | 48.7% | 47.2% | 46.2% | 47.1% | 44.4% | 44.2% | 47.2% | 49.5% | 50.1% | 44.4% |
| R&D | $2.94M | $3.26M | $5.14M | $10.38M | $12.90M | $19.12M | $34.21M | $62.23M | $92.71M | $105.47M | $144.99M |
| SG&A | $2.10M | $2.67M | $5.89M | $7.99M | $8.06M | $12.21M | $15.21M | $22.46M | $40.65M | $69.64M | $68.75M |
| Operating income | $4.86M | $3.49M | $700000.00 | $6.47M | $17.79M | $21.49M | $38.70M | $59.03M | $95.84M | $151.00M | $109.43M |
| Operating margin | 15.6% | 12.8% | 1.9% | 8.7% | 16.5% | 13.7% | 14.9% | 15.2% | 17.2% | 19.3% | 12.1% |
| EBITDA | $5.67M | $3.35M | $223000.00 | $6.89M | $18.58M | $21.33M | $46.17M | $74.38M | $126.99M | $180.42M | $158.47M |
| EBITDA margin | 18.2% | 12.2% | 0.6% | 9.2% | 17.3% | 13.6% | 17.8% | 19.1% | 22.8% | 23.1% | 17.6% |
| EBIT | $5.51M | $3.16M | $-48000.00 | $6.47M | $17.79M | $20.28M | $43.82M | $69.02M | $118.90M | $170.45M | $142.15M |
| Interest expense | $122000.00 | $181000.00 | $277000.00 | $498000.00 | $745000.00 | $982000.00 | $765000.00 | $1.66M | $2.68M | $4.15M | $6.96M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $5.38M | $1.03M | $-316000.00 | $6.57M | $18.89M | $18.78M | $37.76M | $39.26M | $77.35M | $103.63M | $94.08M |
| Net income growth (YoY) | — | -80.8% | -130.6% | +2180.4% | +187.4% | -0.6% | +101.0% | +4.0% | +97.0% | +34.0% | -9.2% |
| Profit margin | 17.2% | 3.8% | -0.9% | 8.8% | 17.6% | 12.0% | 14.5% | 10.1% | 13.9% | 13.2% | 10.4% |
Frequently asked questions
What is Acm Research Inc's revenue?
Acm Research Inc's trailing twelve-month revenue is $960.23M, and consensus projects about $2.82B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is ACMR?
In its most recent fiscal year, ACMR ran a gross margin of 44.39%, an operating margin of 12.14%, and a net margin of 10.44%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does ACMR generate?
ACMR produced $-66.61M in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is ACMR's balance sheet healthy?
ACMR holds $765.96M in cash and equivalents against $178.93M in long-term debt, on $1.46B of shareholder equity. Cash on hand exceeds long-term debt, so the balance sheet adds little financial risk to the thesis.