The strong beat and raised guidance confirm accelerating demand for ACM's ECP and advanced packaging tools. With $1.0B net cash and expanding product portfolio (PECVD, SPM cleaning, panel-level plating), the company is well-positioned for sustained growth. Monitor the Q3 earnings call for updates on the Hong Kong listing of ACM Shanghai and Oregon facility ramp.
Price Chart
Executive Summary
ACM Research reported a strong Q2 2026 beat, with revenue of $292.9M (+36% YoY) and non-GAAP diluted EPS of $0.61 (+79% vs consensus $0.34). The company raised its full-year 2026 revenue guidance to $1.125B-$1.175B (from $1.08B-$1.175B), driven by 168% growth in ECP and 153% growth in advanced packaging. Net cash reached $1.0B, providing ample liquidity for expansion.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $292.9M, up 36% YoY from $215.4M
- Non-GAAP diluted EPS $0.61 vs consensus $0.34 (beat by 79%)
- GAAP diluted EPS $1.23 vs $0.44 YoY (includes $69.6M unrealized gain)
- Full-year 2026 revenue guidance raised to $1.125B-$1.175B (prior $1.08B-$1.175B)
- ECP and advanced packaging revenue grew 168% and 153% YoY respectively
- Gross margin 46.0% vs 48.5% YoY; operating margin improved to 17.0% from 14.7%
- Net cash $1.0B at June 30, 2026, up from $924.2M at March 31, 2026
- Shipments of $281.5M, up 36.4% YoY; shipped 2,000th ECP chamber
Financial Impact
Revenue beat consensus by $23.7M (8.8%); EPS beat by $0.27 (79%); guidance raised by $45M at low end
Risk Factors
- Gross margin contracted 250 bps YoY to 46.0%, driven by product mix and currency impacts
- International trade policy and supply chain constraints could impact future guidance
- Customer concentration and timing of tool acceptances create quarterly volatility
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-054581 |
| Document: acmr-20260807.htm | 0001628280-26-054581 |
| Document: 0001628280-26-054581-index-headers.html | 0001628280-26-054581 |
| Document: 0001628280-26-054581-index.html | 0001628280-26-054581 |
| Document: 0001628280-26-054581.txt | 0001628280-26-054581 |
| 8-K Data (Synthetic) | 0001628280-26-054581 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 22, 2026 5w ago | Insider Cluster | $77.35 $75.80 | ▼ −2.00% | ▼ −3.30% | $83.33 (+7.74%) |
Aug 8, 2026 7w ago | Institutional Cluster | $79.41 $77.20 | ▼ −2.78% | ▼ −1.87% | $83.33 (+4.94%) |
Aug 7, 2026 8w ago | 8-K | $83.80 $74.44 | ▼ −11.17% | ▼ −10.77% | $83.33 (−0.56%) |
Jul 18, 2026 10w ago | Institutional Cluster | $82.52 $85.64 | ▲ +3.78% | ▼ −0.34% | $83.33 (+0.98%) |
Jun 11, 2026 16w ago | Institutional Cluster | $91.70 $106.04 | ▲ +15.64% | ▲ +13.75% | $83.33 (−9.13%) |
Jun 6, 2026 16w ago | Insider Cluster | $80.57 $98.52 | ▲ +22.28% | ▲ +20.65% | $83.33 (+3.43%) |
May 29, 2026 17w ago | 8-K | $82.05 $126.89 | ▲ +54.65% | ▲ +55.95% | $83.33 (+1.56%) |
May 22, 2026 19w ago | 8-K | $73.35 $95.80 | ▲ +30.61% | ▲ +32.02% | $83.33 (+13.61%) |
May 15, 2026 19w ago | 8-K | $63.25 $91.18 | ▲ +44.16% | ▲ +42.58% | $83.33 (+31.75%) |
May 12, 2026 20w ago | 424B5 | $64.75 $91.70 | ▼ −41.62% | ▼ −42.23% | $83.33 (−28.70%) |
US Market Status
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