Form 8-K - Current report

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 7, 2024

ACM Research, Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-38273	94-3290283
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

42307 Osgood Road, Suite I
Fremont, California		94539
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (510) 445-3700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol		Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share		ACMR		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934: Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02.

Results of Operations and Financial Condition.

On November 7, 2024, we issued a press release announcing financial results for the third quarter of 2024. The full text of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information contained in this Item 2.02, including the exhibit furnished hereto, is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, or the Securities Exchange Act of 1934, except as expressly set forth by specific reference in such filing.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit		Description

99.1		Press Release of ACM Research, Inc. dated November 7, 2024

104		Cover Page Interactive Data File (embedded within the XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	ACM RESEARCH, INC.

	By:	/s/ Mark McKechnie
		Mark McKechnie
		Chief Financial Officer and Treasurer

Dated: November 7, 2024

Exhibit 99.1

ACM Research Reports Third Quarter 2024 Results

FREMONT, Calif., Nov 07, 2024 (Globe Newswire) – ACM Research, Inc. (“ACM”) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today reported financial results for its third quarter ended September 30, 2024.

“I am pleased to report another strong quarter for ACM, with record revenue and shipments, good profitability, and positive cash flow from operations,” said ACM’s President and Chief Executive Officer, Dr. David Wang. “We believe our results demonstrate ACM’s role as an innovator, delivering world-class tools that drive value for our customers and strengthen our position in the global market. Tahoe is gaining momentum with multiple logic and memory customers in production. This tool now delivers the same advanced cleaning performance as single-wafer tools, and at the same time up to 75% reduction of sulfuric acid use. We also believe the unique approach of our new panel products – including the Ultra ECP ap-p Horizontal Plating tool, the Ultra C vac-p Flux Cleaning tool, and the Ultra C bev-p Bevel Etching Tool – position ACM to become a significant contributor to the global adoption of AI chip manufacturing.”

Dr. Wang continued, “Looking ahead, we anticipate continued growth of our business in mainland China through market share gains and new product ramps. We have begun initial operations at our Lingang facility, and we remain committed to support major customers in the US, Europe, and Southeast Asia. Our near-term outlook has improved, and as a result, we have raised our 2024 revenue outlook.”

	Three Months Ended September 30,
	GAAP						Non-GAAP(1)
	2024			2023			2024			2023
	(dollars in thousands, except EPS)
Revenue	$	203,976		$	168,569		$	203,976		$	168,569
Gross margin		51.4	%		52.5	%		51.6	%		52.9	%
Income from operations	$	44,184		$	33,173		$	56,065		$	43,754
Net income attributable to ACM Research, Inc.	$	30,904		$	25,679		$	42,372		$	37,579
Basic EPS	$	0.49		$	0.43		$	0.68		$	0.62
Diluted EPS	$	0.45		$	0.39		$	0.63		$	0.57

	Nine Months Ended September 30,
	GAAP						Non-GAAP(1)
	2024			2023			2024			2023
	(dollars in thousands, except EPS)
Revenue	$	558,647		$	387,402		$	558,647		$	387,402
Gross margin		50.3	%		50.9	%		50.6	%		51.1	%
Income from operations	$	107,009		$	72,465		$	147,801		$	87,131
Net income attributable to ACM Research, Inc.	$	72,547		$	59,649		$	114,490		$	78,743
Basic EPS	$	1.17		$	0.99		$	1.85		$	1.31
Diluted EPS	$	1.07		$	0.90		$	1.70		$	1.19

(1)

Reconciliations to U.S. generally accepted accounting principles (“GAAP”) financial measures from non-GAAP financial measures are presented below under “Reconciliation of GAAP to Non-GAAP Financial Measures.” Non-GAAP financial measures exclude stock-based compensation and, with respect to net income (loss) attributable to ACM Research, Inc. and basic and diluted earnings per share, also exclude unrealized gain (loss) on short-term investments.

Outlook

ACM has raised its revenue guidance range for fiscal year 2024 to a range of $725 million to $745 million from the prior range of $695 million to $735 million. This expectation is based on ACM management’s current assessment of the continuing impact from international trade policy, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors.

Operating Highlights and Recent Announcements

•	Shipments. Total shipments in the third quarter of 2024 were $261 million, up 23% from the third quarter of 2023. Total shipments include deliveries for revenue in the quarter and deliveries of first tool systems awaiting customer acceptance for potential revenue in future quarters.

•

Major Performance Breakthrough for Flagship Ultra C Tahoe Cleaning Tool. The upgraded Ultra C Tahoe now achieves the performance of standalone single-wafer cleaning tools on low-to-medium temperature sulfuric peroxide mix (SPM) processes. The hybrid architecture delivers enhanced cleaning performance, high throughput, and process flexibility, with an up to 75% reduction in chemical consumption. The upgraded Ultra C Tahoe is now in production at several high-volume customer facilities in mainland China. Additional logic and memory customers are evaluating the tool, and we expect to deliver additional units through the end 2024.

•

Launched Ultra C bev-p Panel Bevel Etching Tool for Panel-Level Packaging Applications. The new tool is specifically designed for bevel etching and cleaning in copper-related processes and is capable of handling both the front and back side etching within a single system. This capability enhances process efficiency and product reliability.

•

Received Orders for Wafer-Level Packaging Tools from U.S. Customer and R&D Center. ACM has received purchase orders for four wafer-level packaging tools, including two from a U.S.-based customer and two from a U.S.-based research and development (R&D) center. The four tools support a range of advanced packaging processes and are scheduled for delivery in the first half of 2025.

•

Completed Purchase of Commercial Facility in Oregon. On October 1, 2024, ACM completed the purchase of a 39,500 square foot facility, including a 5,200 square foot functional clean room. This facility is intended to augment ACM’s current Oregon facility and further expand ACM’s R&D and demonstration capability in the U.S. market.

•	Opening of R&D and Production Facility. On October 20, 2024, ACM Shanghai celebrated the official opening of its new R&D and production facility in Lingang, China.

Third Quarter 2024 Financial Summary

Unless otherwise noted, the following figures refer to the third quarter of 2024 and comparisons are with the third quarter of 2023.

•	Revenue was $204.0 million, up 21%, reflecting higher sales of single wafer cleaning, Tahoe and semi-critical cleaning equipment and ECP (front-end and packaging), furnace and other technologies, partly offset by lower sales of advanced packaging (excluding ECP), services & spares.

•

Gross margin was 51.4% versus 52.5%. Non-GAAP gross margin, which excludes stock-based compensation, was 51.6% versus 52.9%. Gross margin exceeded ACM’s long-term business model range of 40% to 45%. ACM expects gross margin to vary from period to period due to a variety of factors, such as product mix, currency impacts and sales volume.

- 2 -

•

Operating expenses were $60.7 million, an increase of 10%. Operating expenses as a percentage of revenue decreased to 29.7% from 32.8%. Non-GAAP operating expenses, which exclude the effect of stock-based compensation, were $49.2 million, up 8.5%. Non-GAAP operating expenses as a percentage of revenue decreased to 24.1% from 26.9%.

•

Operating income was $44.2 million, compared to $33.2 million. Operating margin was 21.7% compared to 19.7%. Non-GAAP operating income, which excludes the effect of stock-based compensation, was $56.1 million, compared to $43.8 million. Non-GAAP operating margin, which excludes stock-based compensation, was 27.5% compared to 26.0%.

•

Unrealized gain (loss) on short-term investments was $0.4 million, compared to an unrealized gain (loss) of $(1.3) million. Unrealized gain (loss) reflects the change in market value of the investments by ACM’s principal operating subsidiary, ACM Research (Shanghai), Inc. The value is marked-to-market quarterly and is excluded in the non-GAAP financial metrics.

•	Income tax expense was $4.0 million, compared to $0.7 million.

•

Net income attributable to ACM Research, Inc. was $30.9 million, compared to $25.7 million. Non-GAAP net income attributable to ACM Research, Inc., which excludes the effect of stock-based compensation and unrealized gain (loss) on short-term investments, was $42.4 million, compared to $37.6 million.

•	Net income per diluted share attributable to ACM Research, Inc. was $0.45, compared to $0.39. Non-GAAP net income per diluted share, which excludes the effect of stock-based compensation and unrealized gain (loss) on short-term investments, was $0.63, compared to $0.57.

•	Cash and cash equivalents, plus restricted cash and short-term and long-term time deposits were $369.1 million at September 30, 2024, compared to $366.8 million at June 30, 2024.

Conference Call Details

A conference call to discuss results will be held on Thursday, November 7, 2024, at 8:00 a.m. Eastern Time (9:00 p.m. China Time). To join the conference call via telephone, participants must use the following link to complete an online registration process. Upon registering, each participant will receive email instructions to access the conference call, including dial-in information and a PIN number allowing access to the conference call. This pre-registration process is designed by the operator to reduce delays due to operator congestion when accessing the live call.

Online Registration: https://register.vevent.com/register/BIcf4dbc584cf54892966d5353590ab648

Participants who have not pre-registered may join the webcast by accessing the link at ir.acmrcsh.com/events.

A live and archived webcast will be available on the Investors section of the ACM website at www.acmrcsh.com.

Use of Non-GAAP Financial Measures

ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc. and basic and diluted earnings per share as supplemental measures to GAAP financial measures regarding ACM’s operational performance. These supplemental measures exclude the impact of stock-based compensation, which ACM does not believe is indicative of its core operating results. In addition, non-GAAP net income attributable to ACM Research, Inc. and basic and diluted earnings per share exclude the effect of stock-based compensation and unrealized gain (loss) on short-term investments, which ACM also believes are not indicative of its core operating results. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is provided below under “Reconciliation of GAAP to non-GAAP Financial Measures.”

- 3 -

ACM believes these non-GAAP financial measures are useful to investors in assessing its operating performance. ACM uses these financial measures internally to evaluate its operating performance and for planning and forecasting of future periods. Financial analysts may focus on and publish both historical results and future projections based on the non-GAAP financial measures. ACM also believes it is in the best interests of investors for ACM to provide this non-GAAP information.

While ACM believes these non-GAAP financial measures provide useful supplemental information to investors, there are limitations associated with the use of these non-GAAP financial measures. These non-GAAP financial measures may not be reported by competitors, and they may not be directly comparable to similarly titled measures of other companies due to differences in calculation methodologies. The non-GAAP financial measures are not an alternative to GAAP information and are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures. They should be used only as a supplement to GAAP information and should be considered only in conjunction with ACM’s consolidated financial statements prepared in accordance with GAAP.

Forward-Looking Statements

Certain statements contained in this press release are not historical facts and may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “plans,” “expects,” “believes,” “anticipates,” “designed,” and similar words are intended to identify forward-looking statements. Forward-looking statements are based on ACM management’s current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A description of certain of these risks, uncertainties and other matters can be found in filings ACM makes with the U.S. Securities and Exchange Commission, all of which are available at www.sec.gov. Because forward-looking statements involve risks and uncertainties, actual results and events may differ materially from results and events currently expected by ACM. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. ACM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in its expectations with regard to these forward-looking statements or the occurrence of unanticipated events.

About ACM Research, Inc.

ACM develops, manufactures and sells semiconductor process equipment for single-wafer or batch wet cleaning, electroplating, stress-free polishing, vertical furnace processes, Track and PECVD, which are critical to advanced semiconductor device manufacturing and wafer-level packaging. ACM is committed to delivering customized, high performance, cost-effective process solutions that semiconductor manufacturers can use in numerous manufacturing steps to improve productivity and product yield. For more information, visit www.acmrcsh.com.

© ACM Research, Inc. ULTRA C and the ACM Research logo are trademarks of ACM Research, Inc. For convenience, these trademarks appear in this press release without ™ symbols, but that practice does not mean that ACM will not assert, to the fullest extent under applicable law, its rights to the trademarks.

- 4 -

For investor and media inquiries, please contact:

	In the United States:	The Blueshirt Group
		Steven C. Pelayo, CFA
		(360)808-5154
		steven@blueshirtgroup.co

	In China:	The Blueshirt Group Asia
		Gary Dvorchak, CFA
		+86 (138) 1079-1480
		gary@blueshirtgroup.co

- 5 -

ACM RESEARCH, INC.

Condensed Consolidated Balance Sheets

	September 30, 2024			December 31, 2023
	(Unaudited)
	(In thousands)
Assets
Current assets:
Cash and cash equivalents	$	333,472		$	182,090
Restricted cash		1,782			1,083
Short-term time deposits		20,304			80,524
Short-term investment		20,351			21,312
Accounts receivable, net		370,589			283,186
Other receivables		57,849			40,065
Inventories, net		628,720			545,395
Advances to related party		1,453			2,432
Prepaid expenses		10,794			20,023
Total current assets		1,445,314			1,176,110
Property, plant and equipment, net		250,099			201,848
Land use right, net		8,320			8,367
Operating lease right-of-use assets, net		5,680			7,026
Intangible assets, net		2,838			2,538
Long-term time deposits		13,517			40,818
Deferred tax assets		13,400			20,271
Long-term investments		33,655			27,880
Other long-term assets		21,352			6,050
Total assets	$	1,794,175		$	1,490,908
Liabilities and Equity
Current liabilities:
Short-term borrowings	$	33,795		$	31,335
Current portion of long-term borrowings		30,670			6,783
Related party accounts payable		15,392			11,407
Accounts payable		170,810			141,814
Advances from customers		215,678			181,368
Deferred revenue		10,138			3,687
Income taxes payable		6,796			6,401
FIN-48 payable		8,991			12,149
Other payables and accrued expenses		115,388			102,951
Current portion of operating lease liability		2,377			2,764
Total current liabilities		610,035			500,659
Long-term borrowings		106,069			53,952
Long-term operating lease liability		3,303			4,262
Other long-term liabilities		5,685			5,873
Total liabilities		725,092			564,746
Commitments and contingencies
Equity:
Stockholders’ equity:
Class A Common stock		6			6
Class B Common stock		1			1
Additional paid-in capital		669,540			629,845
Retained earnings		229,374			156,827
Statutory surplus reserve		30,060			30,060
Accumulated other comprehensive loss		(40,815	)		(49,349	)
Total ACM Research, Inc. stockholders’ equity		888,166			767,390
Non-controlling interests		180,917			158,772
Total equity		1,069,083			926,162
Total liabilities and equity	$	1,794,175		$	1,490,908

- 6 -

ACM RESEARCH, INC.

Condensed Consolidated Statements of Operations and Comprehensive Income

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
	(Unaudited)
	( In thousands, except share and per share data)
Revenue	$	203,976		$	168,569		$	558,647		$	387,402
Cost of revenue		99,142			80,055			277,908			190,263
Gross profit		104,834			88,514			280,739			197,139
Operating expenses:
Sales and marketing		15,759			16,803			47,067			37,579
Research and development		27,837			26,151			77,723			60,244
General and administrative		17,054			12,387			48,940			26,851
Total operating expenses		60,650			55,341			173,730			124,674
Income from operations		44,184			33,173			107,009			72,465
Interest income		2,967			2,152			7,122			6,283
Interest expense		(1,208	)		(640	)		(2,923	)		(1,984	)
Realized gain from sale of short-term investments		171			656			444			8,569
Unrealized gain (loss) on short-term investments		413			(1,319	)		(1,151	)		(4,428	)
Other income (expense), net		(5,164	)		(2,150	)		(727	)		156
Income (loss) from equity method investments		1,316			(160	)		101			3,728
Income before income taxes		42,679			31,712			109,875			84,789
Income tax expense		(4,007	)		(718	)		(17,712	)		(11,235	)
Net income		38,672			30,994			92,163			73,554
Less: Net income attributable to non-controlling interests		7,768			5,315			19,616			13,905
Net income attributable to ACM Research, Inc.	$	30,904		$	25,679		$	72,547		$	59,649
Comprehensive income (loss):
Net income		38,672			30,994			92,163			73,554
Foreign currency translation adjustment, net of tax		17,089			4,015			10,376			(21,831	)
Comprehensive Income		55,761			35,009			102,539			51,723
Less: Comprehensive income attributable to non-controlling interests		10,842			7,768			21,458			11,882
Comprehensive income (loss) attributable to ACM Research, Inc.	$	44,919		$	27,241		$	81,081		$	39,841

Net income attributable to ACM Research, Inc. per common share:
Basic	$	0.49		$	0.43		$	1.17		$	0.99
Diluted	$	0.45		$	0.39		$	1.07		$	0.90

Weighted average common shares outstanding used in computing per share amounts:
Basic		62,500,903			60,219,218			62,017,257			59,953,144
Diluted		66,671,526			65,450,941			66,512,143			64,834,051

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ACM RESEARCH, INC.

Total Revenue by Product Category and by Region

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(Unaudited)
	($ in thousand)
Single wafer cleaning, Tahoe and semi-critical cleaning equipment	$	160,985	$	132,417	$	423,676	$	281,559
ECP (front-end and packaging), furnace and other technologies		34,600		25,508		99,362		71,223
Advanced packaging (excluding ECP), services & spares		8,391		10,644		35,609		34,620
Total Revenue By Product Category	$	203,976	$	168,569	$	558,647	$	387,402

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Mainland China	$	203,672	$	168,302	$	552,642	$	375,528
Other Regions		304		267		6,005		11,874
Total Revenue By Region	$	203,976	$	168,569	$	558,647	$	387,402

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ACM RESEARCH, INC.

Reconciliation of GAAP to Non-GAAP Financial Measures

As described under “Use of Non-GAAP Financial Measures” above, ACM presents non-GAAP gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share as supplemental measures to GAAP financial measures, each of which excludes stock-based compensation (“SBC”) from the equivalent GAAP financial line items. In addition, non-GAAP net income attributable to ACM Research, Inc., and basic and diluted earnings per share exclude unrealized gain (loss) on short-term investments. The following tables reconcile gross margin, operating expenses, operating income, net income attributable to ACM Research, Inc., and basic and diluted earnings per share to the related non-GAAP financial measures:

	Three Months Ended September 30,
	2024											2023
	Actual (GAAP)			SBC			Other non- operating adjustments		Adjusted (Non-GAAP)			Actual (GAAP)			SBC			Other non- operating adjustments			Adjusted (Non-GAAP)
	(In thousands)
Revenue	$	203,976		$	-		$	-	$	203,976		$	168,569		$	-		$	-		$	168,569
Cost of revenue		(99,142	)		(447	)		-		(98,695	)		(80,055	)		(588	)		-			(79,467	)
Gross profit		104,834			(447	)		-		105,281			88,514			(588	)		-			89,102
Gross margin		51.4	%		0.2	%		-		51.6	%		52.5	%		0.3	%		-			52.9	%
Operating expenses:
Sales and marketing		(15,759	)		(2,594	)		-		(13,165	)		(16,803	)		(2,543	)		-			(14,260	)
Research and development		(27,837	)		(3,373	)		-		(24,464	)		(26,151	)		(3,421	)		-			(22,730	)
General and administrative		(17,054	)		(5,467	)		-		(11,587	)		(12,387	)		(4,029	)		-			(8,358	)
Total operating expenses		(60,650	)		(11,434	)		-		(49,216	)		(55,341	)		(9,993	)		-			(45,348	)
Income (loss) from operations	$	44,184		$	(11,881	)	$	-	$	56,065		$	33,173		$	(10,581	)	$	-		$	43,754
Unrealized gain (loss) on short-term investments		413			-			413		-			(1,319	)		-			(1,319	)		-
Net income (loss) attributable to ACM Research, Inc.	$	30,904		$	(11,881	)	$	413	$	42,372		$	25,679		$	(10,581	)	$	(1,319	)	$	37,579
Basic EPS	$	0.49							$	0.68		$	0.43								$	0.62
Diluted EPS	$	0.45							$	0.63		$	0.39								$	0.57

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	Nine Months Ended September 30,
	2024												2023
	Actual (GAAP)			SBC			Other non- operating adjustments			Adjusted (Non-GAAP)			Actual (GAAP)			SBC			Other non- operating adjustments			Adjusted (Non-GAAP)
	(In thousands)
Revenue	$	558,647		$	-		$	-		$	558,647		$	387,402		$	-		$	-		$	387,402
Cost of revenue		(277,908	)		(2,020	)		-			(275,888	)		(190,263	)		(838	)		-			(189,425	)
Gross profit		280,739			(2,020	)		-			282,759			197,139			(838	)		-			197,977
Gross margin		50.3	%		0.4	%		-			50.6	%		50.9	%		0.2	%		-			51.1	%
Operating expenses:
Sales and marketing		(47,067	)		(8,645	)		-			(38,422	)		(37,579	)		(3,405	)		-			(34,174	)
Research and development		(77,723	)		(12,082	)		-			(65,641	)		(60,244	)		(4,831	)		-			(55,413	)
General and administrative		(48,940	)		(18,045	)		-			(30,895	)		(26,851	)		(5,592	)		-			(21,259	)
Total operating expenses		(173,730	)		(38,772	)		-			(134,958	)		(124,674	)		(13,828	)		-			(110,846	)
Income (loss) from operations	$	107,009		$	(40,792	)	$	-		$	147,801		$	72,465		$	(14,666	)	$	-		$	87,131
Unrealized gain (loss) on short-term investments		(1,151	)		-			(1,151	)		-			(4,428	)		-			(4,428	)		-
Net income (loss) attributable to ACM Research, Inc.	$	72,547		$	(40,792	)	$	(1,151	)	$	114,490		$	59,649		$	(14,666	)	$	(4,428	)	$	78,743
Basic EPS	$	1.17								$	1.85		$	0.99								$	1.31
Diluted EPS	$	1.07								$	1.70		$	0.90								$	1.19

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Document and Entity Information	Nov. 07, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Nov. 07, 2024
Entity File Number	001-38273
Entity Registrant Name	ACM Research, Inc.
Entity Central Index Key	0001680062
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3290283
Entity Address, Address Line One	42307 Osgood Road
Entity Address, Address Line Two	Suite I
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94539
City Area Code	510
Local Phone Number	445-3700
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	ACMR
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false