ACM Research reports record Q3 revenue of $204M; raises 2024 outlook

ACM Research, Inc.

2024-Q3 EPS reported $1.07 revenue$558,647,000

Q3 revenue $204.0M (record), up 21% YoY from $168.6M; shipments and cash flow from operations positive.
GAAP diluted EPS $0.45; non-GAAP diluted EPS $0.63, vs $0.39 and $0.57 in Q3 2023.
Gross margin 51.4% (GAAP), down 110 bps from 52.5% a year ago; non-GAAP 51.6%.
2024 revenue outlook raised; growth driven by mainland China share gains and new product ramps.
Tahoe cleaning tool gains momentum with logic/memory customers, cutting sulfuric acid use by up to 75%.

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