ACM Research Expects Q3 Revenue of $360 Million to $365 Million

ACM Research, Inc. (ACMR ) on October 28, 2026 announced expectations for preliminary unaudited revenue of $360 million to $365 million for the third quarter of 2026, a range the company said would represent year-to-year growth of 34% to 36%. The Fremont, California-based supplier of wafer and panel processing solutions for semiconductor and advanced packaging applications also expects preliminary total shipments of $335 million to $340 million for the quarter, which it said would represent year-to-year growth of 27% to 29%, according to the company’s announcement.

The figures are preliminary and unaudited. ACM said actual third-quarter 2026 results are subject to the completion of its quarter-end closing procedures and review by its independent registered public accounting firm. The release coincides with the as-scheduled release of unaudited financial results by ACM Research (Shanghai), Inc., the company’s principal operating subsidiary, to the Shanghai Stock Exchange website.

ACM reports a total shipments metric alongside revenue. The company states that total shipments “include deliveries for revenue in the quarter and deliveries of first tool systems awaiting customer acceptance for potential revenue in future quarters.”

ACM Shanghai’s Quarterly Report

ACM Shanghai, which reports under stock code 688082, filed its quarterly report to the Shanghai Stock Exchange, dated October 27, 2026 and marked unaudited. The report shows revenue of RMB 2,023,931,551.36 for the third quarter, up 7.59% year over year, and revenue of RMB 5,742,028,626.00 for the first nine months of 2026, up 11.57%.

Net profit attributable to shareholders of the listed company was RMB 81,538,322.31 for the quarter, down 85.70% from a year earlier. Excluding non-recurring items, net profit attributable to listed-company shareholders was RMB 303,578,670.69, down 29.91%. Total profit for the quarter was negative RMB 7,763,322.55, down 101.53%. Basic earnings per share were RMB 0.17, down 86.82%, and diluted earnings per share were RMB 0.16, down 87.40%. Weighted average return on net assets was 0.56% for the quarter, a decrease of 6.28 percentage points.

For the nine-month period, net profit attributable to listed-company shareholders was RMB 1,070,487,678.72, down 15.45%, and net profit excluding non-recurring items was RMB 874,604,712.58, down 21.02%. Total profit for the nine months was RMB 1,132,838,958.12, down 14.69%.

ACM Shanghai attributed the quarterly declines in total profit, net profit and earnings per share mainly to a significant year-over-year decrease in fair-value change gains or losses generated by its external investments during the quarter. The report’s non-recurring items table records a negative RMB 267,444,194.49 for the quarter from fair-value changes in, and disposal of, financial assets and liabilities.

Research and development investment totaled RMB 385,457,871.08 in the quarter, up 18.99% year over year and equal to 19.05% of quarterly revenue, an increase of 1.83 percentage points. For the first nine months, research and development investment was RMB 1,048,138,405.71, up 20.71% and equal to 18.25% of revenue.

Net cash flow from operating activities for the first nine months of 2026 was negative RMB 270,385,549.15. ACM Shanghai attributed the figure to order growth driving corresponding production demand, with raw-material purchasing and stocking increasing in parallel, which raised cash paid for goods and services.

Total assets stood at RMB 21,334,420,518.15 at September 30, 2026, up 12.91% from the end of 2025, and equity attributable to listed-company shareholders was RMB 14,761,454,024.85, up 9.59%. The report lists ACM Research, Inc. as holding 352,890,660 shares of ACM Shanghai, a 72.72% stake, at the end of the reporting period. ACM’s announcement states that it owned a 73.2% equity interest in ACM Shanghai as of June 30, 2026.

ACM said a substantial majority of its consolidated revenue and net income is contributed by ACM Shanghai. The subsidiary’s stand-alone results are reported in RMB under Chinese generally accepted accounting principles and will differ, potentially materially, from ACM’s consolidated revenue and net profit for the period, which will reflect additional financial and operational items and will be prepared in U.S. dollars under U.S. generally accepted accounting principles, according to the company.

Prior-Period Results

In its second-quarter 2026 results, ACM reported revenue of $292.9 million, up 36.0% year over year, and total shipments of $281.5 million, up 36.4%. On August 7, 2026, the company raised its full-year 2026 revenue guidance to a range of $1.125 billion to $1.175 billion, from a prior range of $1.08 billion to $1.175 billion.

In its third-quarter 2025 results, the comparison period for the year-to-year growth rates in the preliminary announcement, ACM reported revenue of $269.2 million, up 32.0%, and total shipments of $263.1 million, up 0.7% from the third quarter of 2024.

ACM will discuss its full third-quarter 2026 financial results and its revenue outlook for the remainder of the year on its earnings call on Thursday, November 5, 2026, at 8 a.m. Eastern Time (9 p.m. China Time).