Filing Flows › ACM Research (ACMR) › Q1 2025
ACM Research (ACMR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
ACM Research (ACMR) reported revenue of $172M for the first quarter 2025 (Q1 2025), +13% from a year earlier and -23% from the quarter before. Operating margin was 15.0%, net earnings $20.4M (11.8% of revenue).
ACM Research, Q1 2025: revenue $172M (+13% year over year), operating margin 15.0%, net earnings $20.4M, operating cash flow $5.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $172M | -23% | +13% |
| Gross profit | $82.5M | -26% | +4% |
| Operating profit | $25.8M | -41% | +2% |
| Net earnings | $20.4M | -34% | +17% |
| Operating cash flow | $5.3M | -94% | — |
What changed
Revenue was $172.3M in Q1 2025, up 13% year over year and down 23% from the previous quarter. Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment was the largest line at 75% of revenue. Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment added $20.1M year over year (up 18%), 100% of the total change. Advanced Packaging (excluding ECP), Services & Spares declined 10%.
Gross margin was 47.9%, down 4.1 points from a year earlier. Operating profit was $25.8M, a 15.0% margin (down 1.6 points year over year). Of the extra revenue versus a year earlier, 3% reached operating profit, below the 17% margin then. Operating expenses grew 5% against revenue growth of 13%. The fastest-growing cost line was Sales & marketing (+15%). Net earnings were $20.4M, up 17% year over year. The effective tax rate was 7.9%.
Operating cash flow was $5.3M, 21% of net income including minority interests. Non-cash charges added back $2.4M of depreciation and amortization and $9.8M of share-based compensation. Working capital and other items used $31.9M. Capital expenditures of $16.7M exceeded it, leaving free cash flow of −$11.4M.
Questions
What was ACM Research's revenue in the first quarter 2025?
ACM Research (ACMR) reported revenue of $172M for the first quarter 2025 (Q1 2025), +13% from a year earlier and -23% from the quarter before.
Was ACM Research profitable in the first quarter 2025?
Operating profit was $25.8M (15.0% of revenue) and net earnings $20.4M.
Source: ACM Research 10-Q on SEC EDGAR.