ACM Research Q2 revenue record $202.5M, raises 2024 outlook; long-term target $3B

ACM Research, Inc.

2024-Q2 EPS reported $0.61 revenue$354,671,000

Q2 revenue $202.5M (up 40% YoY); GAAP diluted EPS $0.35; non-GAAP diluted EPS $0.55.
Gross margin 47.8% GAAP, 48.2% non-GAAP, roughly flat YoY.
Raised 2024 revenue outlook; long-term target increased to $3B.
New Panel ECP tool (Ultra ECP ap-p) for AI/GPU/HBM packaging; R&D facility purchase in Oregon.
Strong profitability and positive cash flow from operations.

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