Filing Flows › ACM Research (ACMR) › Q2 2025
ACM Research (ACMR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
ACM Research (ACMR) reported revenue of $215M for the second quarter 2025 (Q2 2025), +6% from a year earlier and +25% from the quarter before. Operating margin was 14.7%, net earnings $29.8M (13.8% of revenue).
ACM Research, Q2 2025: revenue $215M (+6% year over year), operating margin 14.7%, net earnings $29.8M, operating cash flow −$44.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $215M | +25% | +6% |
| Gross profit | $104M | +27% | +8% |
| Operating profit | $31.7M | +23% | -16% |
| Net earnings | $29.8M | +46% | +23% |
| Operating cash flow | −$44.9M | -950% | — |
What changed
Revenue was $215.4M in Q2 2025, up 6% year over year and up 25% from the previous quarter. Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment was the largest line at 72% of revenue. ECP (front-end and packaging), Furnace and Other Technologies added $9.1M year over year (up 23%), 70% of the total change.
Gross margin was 48.5%, up 0.7 points from a year earlier. Operating profit was $31.7M, a 14.7% margin (down 3.9 points year over year). Operating profit fell $5.9M even though revenue rose $12.9M versus a year earlier, so costs grew faster than sales. Operating expenses grew 23% against revenue growth of 6%. The fastest-growing cost line was Research & development (+30%). Net earnings were $29.8M, up 23% year over year. The effective tax rate was 5.0%.
Operating cash flow was −$44.9M. Non-cash charges added back $3.5M of depreciation and $9.8M of share-based compensation. Working capital and other items used $94.5M. Capital expenditures of $14.7M exceeded it, leaving free cash flow of −$59.6M.
Questions
What was ACM Research's revenue in the second quarter 2025?
ACM Research (ACMR) reported revenue of $215M for the second quarter 2025 (Q2 2025), +6% from a year earlier and +25% from the quarter before.
Was ACM Research profitable in the second quarter 2025?
Operating profit was $31.7M (14.7% of revenue) and net earnings $29.8M.
Source: ACM Research 10-Q on SEC EDGAR.