Filing Flows › ACM Research (ACMR) › Q1 2026
ACM Research (ACMR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
ACM Research (ACMR) reported revenue of $231M for the first quarter 2026 (Q1 2026), +34% from a year earlier and -5% from the quarter before. Operating margin was 15.6%, net earnings $17.3M (7.5% of revenue).
ACM Research, Q1 2026: revenue $231M (+34% year over year), operating margin 15.6%, net earnings $17.3M, operating cash flow −$29.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $231M | -5% | +34% |
| Gross profit | $107M | +7% | +30% |
| Operating profit | $36.2M | +57% | +40% |
| Net earnings | $17.3M | +115% | -15% |
| Operating cash flow | −$29.5M | -187% | -659% |
What changed
Revenue was $231.3M in Q1 2026, up 34% year over year and down 5% from the previous quarter. Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment was the largest line at 53% of revenue. ECP (front-end and packaging), Furnace and Other Technologies added $56.6M year over year (up 205%), 96% of the total change. Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment declined 5%.
Gross margin was 46.4%, down 1.5 points from Q1 2025. Operating profit was $36.2M, a 15.6% margin (up 0.7 points year over year). Of the extra revenue versus Q1 2025, 18% reached operating profit, above the 15% margin then. Operating expenses grew 25% against revenue growth of 34%. The fastest-growing cost line was Research & development (+33%). Net earnings were $17.3M, down 15% year over year. The effective tax rate was 12.6%.
Operating cash flow was −$29.5M. Non-cash charges added back $5.2M of depreciation and amortization and $5.6M of share-based compensation. Working capital and other items used $66.6M. Capital expenditures of $22.2M exceeded it, leaving free cash flow of −$51.7M.
Questions
What was ACM Research's revenue in the first quarter 2026?
ACM Research (ACMR) reported revenue of $231M for the first quarter 2026 (Q1 2026), +34% from a year earlier and -5% from the quarter before.
Was ACM Research profitable in the first quarter 2026?
Operating profit was $36.2M (15.6% of revenue) and net earnings $17.3M.
Source: ACM Research 10-Q on SEC EDGAR.