ACMR - ACM Research: The Road To $1B Revenue

2024-05-11 08:35:26 ET

Summary

• ACM Research reports strong Q1 earnings, beating revenue expectations with a 103% YoY increase.
• The China semiconductor market continues to grow, with ACM Research benefiting from the country's focus on self-sufficiency.
• ACM Research's revenue momentum remains strong, and the company is on track to achieve its $1 billion revenue target by 2026.

Solid Q1 Earnings

ACM Research ( ACMR ) reported a strong Q1 quarter with both top and bottom-line beat. The company reported revenue of $170.5 million, a 103% YoY increase, beating consensus by $0.52 million. Company also maintained its FY2024 guidance of $650 - $725 million. However, market reacted negatively to the results as it was expecting a raise to the guidance. See below the results:

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