ACM Research (ACMR) Q2 FY2026 earnings: revenue $293 million, up 36.0% on the year

ACM Research, Inc. (ACMR) reported revenue of $293 million for Q2 FY2026, the quarter ended 30 June 2026, up 36.0% on the same quarter a year earlier. Net income was $89 million, up 199.0% on the year, and diluted earnings per share $1.23. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2026.

Revenue$293 millionup 36.0%

Net income$89 millionup 199.0%

Diluted EPS$1.23

QuarterQ2 FY2026ended 30 June 2026

What management said

Guidance figures: 2 raised.

Q2 revenue grew 36% year-over-year: Revenue $292.9 million versus $215.4 million in Q2 2025. Six-month revenue $524.2 million versus $387.7 million, up 35.2%. Growth driven by higher sales across multiple product categories.
Shipments increased 36.4% year-over-year: Total shipments $281.5 million in Q2 2026 versus $206.4 million in Q2 2025. Shipments include deliveries for revenue and first tool systems awaiting customer acceptance.
ECP revenue surged 168% year-over-year: ECP (front-end and packaging), furnace and other technologies revenue $128.5 million versus $48.0 million in Q2 2025. Major driver of overall revenue expansion reflecting increased customer adoption.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	293	231	215	+36.0%
Cost of revenue	158	124	111	+42.7%
Gross profit	135	107	104	+28.9%
Gross margin	46.0%	46.4%	48.5%
Research and development	42.3	36.5	33.8	+24.9%
Operating income	49.7	36.2	31.7	+56.9%
Operating margin	17.0%	15.6%	14.7%
Interest expense	2.1	1.9	1.8	+17.2%
Pre-tax income	136	30.0	38.2	+255.7%
Income tax	13.5	3.8	1.9	+612.4%
Effective tax rate	9.9%	12.6%	5.0%
Net income	89.0	17.3	29.8	+199.0%
Net margin	30.4%	7.5%	13.8%
Diluted EPS	$1.23	$0.24	$0.44	+179.5%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	-6.4	-29.5	-44.9	n/a
Capital expenditure	65.1	22.2	14.7	+342.0%
Free cash flow	-71.5	-51.7	-59.6	n/a
Free cash flow margin	-24.4%	-22.4%	-27.7%
Cash from investing	-69.7	-9.8	-14.5	n/a
Cash from financing	169	163	43.8	+286.6%
Depreciation and amortisation	6.3	5.2	3.5	+79.1%
Share-based compensation	6.6	5.6	9.8	-32.6%
Diluted shares, weighted	72m	70m	67m	+6.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	1,860	1,582	986	+88.6%
Non-controlling interest	545	502	205	+165.5%
Short-term borrowings	107	94.0	53.0	+102.4%
Debt	234	234	225	+3.8%
Operating lease liabilities	3.5	4.1	5.5	-36.3%
Other liabilities	650	650	564	+15.1%
Total liabilities and equity	3,399	3,066	2,040	+66.7%
Fixed assets	385	324	291	+32.2%
Intangible assets	2.5	2.7	2.8	-11.7%
Investments	194	103	77.8	+149.7%
Trading assets	105	34.7	n/a	n/a
Cash and equivalents	969	872	442	+119.2%
Receivables	538	527	434	+24.1%
Inventory	783	738	648	+20.8%
Other assets	422	465	144	+192.9%
Total assets	3,399	3,066	2,040	+66.7%

Questions

What was ACM Research's revenue in Q2 FY2026?

ACM Research (ACMR) reported revenue of $293 million for Q2 FY2026, the quarter ended 30 June 2026, up 36.0% on the same quarter a year earlier.

How much did ACM Research earn in Q2 FY2026?

Net income for Q2 FY2026 was $89 million, up 199.0% on the year, and diluted earnings per share $1.23.

When did ACM Research report Q2 FY2026 results?

ACM Research filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 7 August 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	169	170	152	202	204	223	172	215	269	244	231	293
Cost of revenue	80.1	91.2	73.1	106	99.1	113	89.8	111	156	145	124	158
Gross profit	88.5	79.1	79.1	96.8	105	111	82.5	104	113	99.9	107	135
Gross margin	53%	46%	52%	48%	51%	50%	48%	49%	42%	41%	46%	46%
R&D	26.2	32.5	23.9	26.0	27.8	27.8	27.5	33.8	39.7	44.0	36.5	42.3
Operating income	33.2	23.4	25.2	37.6	44.2	44.0	25.8	31.7	28.9	23.0	36.2	49.7
Operating margin	20%	14%	17%	19%	22%	20%	15%	15%	11%	9%	16%	17%
Interest expense	0.6	0.7	0.8	0.9	1.2	1.2	1.6	1.8	1.9	1.8	1.9	2.1
Pre-tax income	31.7	31.4	26.5	40.7	42.7	56.4	27.2	38.2	49.1	20.8	30.0	136
Tax rate	2%	26%	17%	23%	9%	31%	8%	5%	5%	32%	13%	10%
Net income	25.7	17.7	17.4	24.2	30.9	31.1	20.4	29.8	35.9	8.0	17.3	89.0
Net margin	15%	10%	11%	12%	15%	14%	12%	14%	13%	3%	7%	30%
Diluted EPS	$0.39	$0.26	$0.26	$0.35	$0.45	$0.46	$0.30	$0.44	$0.52	$0.11	$0.24	$1.23
Operating cash flow	-17.9	-33.2	-9.6	61.6	11.9	88.6	5.3	-44.9	-4.6	33.9	-29.5	-6.4
Capital expenditure	27.9	12.3	25.4	13.1	32.5	11.4	16.7	14.7	11.0	13.8	22.2	65.1
Free cash flow	-45.8	-45.5	-35.1	48.5	-20.6	77.2	-11.4	-59.6	-15.6	20.1	-51.7	-71.5
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2026, filed 7 August 2026, accession 0001628280-26-054832: the filing on EDGAR. All of ACM Research, Inc.'s filings: EDGAR company page.

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