ACM Research, Inc. (NASDAQ: ACMR)

ACM Research, Inc. supplies advanced capital equipment for the global semiconductor industry. The company focuses on yield critical process steps such as particle removal, uniform material deposition and reliable process control. Its tools support front end wafer fabrication and advanced packaging for logic memory and foundry customers.

The company generates revenue from the sale and service of semiconductor processing equipment. Revenue from single wafer cleaning Tahoe and semi critical cleaning equipment accounted for 69.5 percent of total revenue in 2025. Revenue from ECP furnace and other technologies represented 22.1 percent of total revenue in 2025. Revenue from advanced packaging excluding ECP services and spares made up 8.4 percent of total revenue in 2025. Selling prices for its tools typically range from half a million dollars to more than five million dollars. The company estimates its current product portfolio addresses approximately twenty one billion dollars of the 2025 global wafer fab equipment market.

ACM Research, Inc. holds a niche position in the semiconductor equipment market as a supplier of specialized wet cleaning and advanced packaging tools. The company competes with established players such as Lam Research Corporation, NAURA Technology Group Co., Ltd., SCREEN Holdings Co., Ltd., SEMES Co. Ltd., Tokyo Electron Ltd. and Kokusai Semiconductor Equipment Corporation. For its PECVD and track products it also faces competition from Applied Materials Inc. and Suzhou Jingtuo Semiconductor Technology Co., Ltd. The company's competitive advantages include proprietary process technologies such as SAPS TEBO and Tahoe, modular tool architecture and a focus on cost of ownership and environmental performance. Its strong presence in mainland China provides a strategic base for serving local foundry logic and memory chip makers.

The company's customer base consists primarily of foundry logic and memory chip makers as well as advanced packaging and wafer processing customers. Substantially all of its sales have been to customers located in mainland China with a growing presence in North America, Western Europe and Southeast Asia. Revenue by customer type shows that foundry logic and other accounts represent the largest share followed by memory and advanced packaging wafer processing segments.