ACM Research, Inc. has updated its full year 2024 revenue outlook, now expecting a range of $755 million to $770 million, compared to the previously projected range of $725 million to $745 million. Looking ahead to 2025, the company anticipates revenue to be in the range of $850 million to $950 million.
Dr. David Wang, ACM's President and CEO, stated that the company is planning for continued growth in 2025, despite the evolving geopolitical environment, with anticipated investments in production capacity by mainland China customers and incremental contribution from new products. He also emphasized the company's commitment to developing tools to expand business into markets beyond mainland China.
ACM Research, Inc. plans to release its fourth quarter and full year 2024 financial results in late February 2025. Additionally, the company will be participating in group and one-on-one meetings hosted by UBS on January 15, 2025, in Shanghai, and at the 27th Annual Needham Growth Conference on January 16, 2025.
This update comes as ACM Research, Inc. continues to develop, manufacture, and sell semiconductor process equipment, offering customized, high-performance, and cost-effective process solutions for semiconductor manufacturers. Today the company's shares have moved 13.3% to a price of $17.55. Check out the company's full 8-K submission here.
