Key Highlights

● Second-quarter 2026 Revenue was $292.9 million, up 36.0% from a year earlier.

● Shipments rose 36.4% to $281.5 million, below revenue for the quarter.

● Gross Margin was 46.0%, down from 48.5% on a GAAP basis a year earlier.

● The 2026 revenue range was raised to $1.125 billion to $1.175 billion.

Latest verified development: second-quarter results and a higher outlook

ACM Research, Inc. (NASDAQ:ACMR), a supplier of wafer-processing equipment to semiconductor manufacturers, reported second-quarter 2026 results on 7 August 2026. Revenue was $292.9 million, up 36.0% from $215.4 million a year earlier. Shipments, an indicator of orders delivered, rose 36.4% to $281.5 million, which is below revenue for the quarter, so the two measures should not be treated as interchangeable.

Chief executive Dr David Wang said both revenue and shipments increased 36% year on year and that the company was raising its full-year 2026 revenue outlook to imply growth of 25% to 30%.

Profitability and the GAAP gap

Gross margin was 46.0% on both a GAAP and a non-GAAP basis, compared with 48.5% (GAAP) and 48.7% (non-GAAP) a year earlier, so margins narrowed by roughly 2.5 to 2.7 percentage points even as sales grew strongly.

Applying the margins to revenue gives Gross Profit of roughly $134.7 million this quarter against roughly $104.5 million a year earlier, an increase of about 29%, slower than the 36% revenue growth. These figures are derived from rounded percentages rather than reported in dollars by the company.

Diluted earnings per share were $1.23 on a GAAP basis, against $0.44 a year earlier, while non-GAAP Diluted Earnings per Share were $0.61, against $0.55. It is unusual for GAAP earnings to exceed the non-GAAP measure by this margin, which indicates that items outside core operations contributed to the $0.62 difference.

Guidance, cash and balance sheet

The company raised its 2026 revenue range to $1.125 billion to $1.175 billion from $1.08 billion to $1.175 billion. Only the lower end moved, which narrows the range rather than lifting the ceiling. Guidance is a management forecast, not a reported result.

Net cash was $1.0 billion at 30 June 2026. Cash, restricted cash and short-term time deposits together totalled $1.36 billion, so gross Liquidity is well above the net figure. The release did not disclose a Backlog figure.

Margin recovery and earnings reconciliation at ACM Research

Inside the raised range of $1.125 billion to $1.175 billion, the number that sets how much of the 36% revenue growth reaches profit is the 46.0% gross margin, down from 48.5% a year earlier.