|
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 | |||||||||||
