| ACM RESEARCH, INC. | |||||||||||||||
| Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
|
2023
|
2022
|
2023
|
2022
| ||||||||||||
| (Unaudited) | (Unaudited)
| ||||||||||||||
| ( In thousands, except share and per share data) | ( In thousands, except share and per share data) | ||||||||||||||
| Revenue | $ | 170,321 | $ | 108,542 | $ | 557,723 | $ | 388,832 | |||||||
| Cost of revenue | 91,245 | 54,737 | 281,508 | 205,217 | |||||||||||
| Gross profit | 79,076 | 53,805 | 276,215 | 183,615 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 9,440 | 12,395 | 47,019 | 39,889 | |||||||||||
| Research and development | 32,465 | 17,835 | 92,709 | 62,226 | |||||||||||
| General and administrative | 13,797 | 6,905 | 40,648 | 22,465 | |||||||||||
| Total operating expenses | 55,702 | 37,135 | 180,376 | 124,580 | |||||||||||
| Income from operations | 23,374 | 16,670 | 95,839 | 59,035 | |||||||||||
| Interest income | 2,071 | 2,775 | 8,354 | 8,740 | |||||||||||
| Interest expense | (697 | ) | (669 | ) | (2,681 | ) | (1,655 | ) | |||||||
| Realized gain (loss) from sale of short-term investments | 478 | (20 | ) | 9,047 | 1,116 | ||||||||||
| Unrealized gain (loss) on short-term investments | 1,691 | 1,707 | (2,737 | ) | (7,855 | ) | |||||||||
| Other income (expense), net | (1,714 | ) | (6,634 | ) | (1,558 | ) | 3,315 | ||||||||
| Income from equity method investments | 6,224 | 3,014 | 9,952 | 4,666 | |||||||||||
| Income before income taxes | 31,427 | 16,843 | 116,216 | 67,362 | |||||||||||
| Income tax expense | (8,129 | ) | (2,660 | ) | (19,364 | ) | (16,798 | ) | |||||||
| Net income | 23,298 | 14,183 | 96,852 | 50,564 | |||||||||||
| Less: Net income attributable to non-controlling interests | 5,598 | 2,374 | 19,503 | 11,301 | |||||||||||
| Net income attributable to ACM Research, Inc. | $ | 17,700 | $ | 11,809 | $ | 77,349 | $ | 39,263 | |||||||
| Comprehensive income (loss): | |||||||||||||||
| Net income | 23,298 | 14,183 | 96,852 | 50,564 | |||||||||||
| Foreign currency translation adjustment, net of tax | 11,214 | 21,232 | (10,617 | ) | (59,102 | ) | |||||||||
| Comprehensive Income (loss) | 34,512 | 35,415 | 86,235 | (8,538 | ) | ||||||||||
| Less: Comprehensive income attributable to non-controlling interests | 5,807 | 6,232 | 17,689 | 1,854 | |||||||||||
| Comprehensive income (loss) attributable to ACM Research, Inc. | $ | 28,705 | $ | 29,183 | $ | 68,546 | $ | (10,392 | ) | ||||||
| Net income attributable to ACM Research, Inc. per common share: | |||||||||||||||
| Basic | $ | 0.29 | $ | 0.20 | $ | 1.29 | $ | 0.66 | |||||||
| Diluted | $ | 0.26 | $ | 0.18 | $ | 1.16 | $ | 0.59 | |||||||
| Weighted average common shares outstanding used in computing per share amounts: | |||||||||||||||
| Basic | 60,792,349 | 59,568,562 | 60,164,670 | 59,235,975 | |||||||||||
| Diluted | 65,911,901 | 64,198,325 | 64,870,543 | 65,341,771 | |||||||||||
