ACM Research (ACMR) Q4 2025 Earnings
How Did ACMR Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −8.32%.
Did ACMR Beat Earnings? Q4 2025 Results
No. ACM Research reported Q4 2025 earnings of $0.25 a share on Feb 26, 2026, missing the $0.40 consensus estimate by 37.5%. Revenue was $244.4M against a $241.3M estimate.
ACM Research delivered a tale of two metrics in Q4 2025, posting revenue that edged past expectations while earnings fell well short of the mark. The semiconductor equipment maker reported quarterly revenue of $244.43 million, up 9.4% year over year and modestly ahead of the $239.90 million consensus, but non-GAAP diluted EPS of $0.25 missed the $0.53 estimate by 53.04%, a gap that sent shares lower in the aftermath. The culprit was a sharp compression in gross margin, which collapsed to 40.9% from 49.6% a year earlier, driven by product mix shifts toward semi-critical tools, competitive pricing pressures, and inventory-related charges that gutted operating leverage. GAAP net income attributable to ACM tumbled to $8.05 million from $31.08 million in the prior-year period. Despite the profitability stumble, management held its 2026 revenue guidance at $1.08 billion to $1.18 billion, representing 21% to 30% growth, anchored by contributions from advanced packaging, SPM cleaning, and furnace products, alongside a planned H2 2026 launch of Oregon operations to broaden its global reach.
- Growth in single wafer cleaning, Tahoe, and semi-critical cleaning equipment revenue
- Higher sales of ECP (front-end and packaging), furnace and other technologies
- Growth in advanced packaging (excluding ECP), services and spares
- Record annual revenue of $901 million, outperforming estimated China WFE
“2025 was a year of strong execution for ACM. We delivered record annual revenue of $901 million, up 15% year over year, outperforming estimated China WFE. We strengthened our foundation for long-term growth by advancing new products, expanding our global production capacity, and enhancing global funding initiatives.”
ACM Research CEO, on the earnings call
What Was ACM Research's Outlook in Q4 2025?
ACM maintains its fiscal year 2026 revenue guidance of $1.08 billion to $1.175 billion, representing 21-30% year-over-year growth. The outlook is based on management's assessment of continuing international trade policy impacts, expected spending scenarios of key customers, supply chain constraints, and timing of first-tool acceptances. Incremental contributions are expected from Tahoe, SPM cleaning, furnace, and advanced packaging. Oregon operations are expected to begin in H2 2026. The company reiterated its long-term revenue target of $4 billion.
ACMR YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $244.4M | $223.5M | +9.4% |
| Gross Profit | $99.9M | $110.8M | −9.8% |
| Operating Income | $23.0M | $44.0M | −47.6% |
| Net Income | $8.0M | $31.1M | −74.1% |
ACMR Revenue by Segment
ACMR Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.