ACM Research, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $901.3M | $782.1M | $557.7M | $388.8M | $259.8M |
| Cost of revenue | $501.2M | $390.6M | $281.5M | $205.2M | $144.9M |
| Gross profit | $400.1M | $391.6M | $276.2M | $183.6M | $114.9M |
| Research and development | $145.0M | $105.5M | $92.7M | $62.2M | $34.2M |
| Operating expenses | $290.6M | $240.6M | $180.4M | $124.6M | $76.2M |
| Operating income | $109.4M | $151.0M | $95.8M | $59.0M | $38.7M |
| Interest expense | $7.0M | $4.2M | $2.7M | $1.7M | $765,000 |
| Pretax income | $135.2M | $166.3M | $116.2M | $67.4M | $43.1M |
| Income tax expense | $13.3M | $35.0M | $19.4M | $16.8M | $134,000 |
| Net income | $94.1M | $103.6M | $77.3M | $39.3M | $37.8M |
| Balance Sheet | |||||
| Cash and equivalents | $757.4M | $407.4M | $182.1M | $248.0M | $562.5M |
| Current assets | $2.4B | $1.5B | $1.2B | $963.8M | $952.9M |
| Total assets | $2.9B | $1.9B | $1.5B | $1.2B | $1.1B |
| Current liabilities | $745.7M | $641.2M | $500.7M | $396.2M | $205.9M |
| Total liabilities | $941.7M | $759.8M | $564.7M | $423.3M | $240.5M |
| Stockholders' equity | $1.5B | $904.6M | $767.4M | $674.9M | $676.2M |
| Cash Flow Statement | |||||
| Cash from operations | -$10.3M | $152.4M | -$75.3M | -$62.2M | -$40.1M |
| Depreciation and amortization | $14.4M | $6.6M | $6.9M | $4.8M | $2.1M |
| Stock-based compensation | $33.6M | $49.6M | $27.3M | $7.7M | $5.1M |
| Capital expenditure | $56.3M | $82.5M | $61.9M | $91.1M | $9.2M |
| Free cash flow | -$66.6M | $70.0M | -$137.2M | -$153.3M | -$49.2M |
| Share repurchases | $7.0M | $0 | $0 | — | $0 |
| Impairments | — | — | — | $0 | $0 |
Shares outstanding 66.2M · Free float 67.1%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.