ACM Research (ACMR) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and ACM Research published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. ACM Research reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• ACM Research reports in thousands of dollars; figures here are in millions. ACM owns 72.8% of its operating subsidiary ACM Shanghai, so net income and EPS are after the minority holders' share.
• GAAP net income swings with the market value of investments held by ACM Shanghai: an unrealized loss of $39.1 million in Q3 2026 against an unrealized gain of $18.7 million a year earlier. Non-GAAP figures exclude it.

Source: ACM Research Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How ACM Research splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• ACM Research's Single wafer cleaning, Tahoe and semi-critical cleaning equipment revenue was $211 million in Q3 2026, up 16% from $182 million in Q3 2025, 57% of total revenue.
• ACM Research's ECP (front-end and packaging), furnace and other technologies revenue was $109 million in Q3 2026, up 83% from $59.9 million in Q3 2025, 30% of total revenue.
• ACM Research's Advanced packaging (excluding ECP), services & spares revenue was $47.5 million in Q3 2026, up 71% from $27.7 million in Q3 2025, 13% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, ACM Research said:

“ACM is raising its revenue guidance range for fiscal year 2026 to $1.24 billion to $1.28 billion, which would represent 38% to 42% growth, compared to its previous guidance range of $1.125 billion to $1.175 billion.”

“The revised outlook reflects continued strong customer demand and expectations for robust shipment growth in the fourth quarter.”

Source: ACM Research Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ACMR forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. ACM also publishes preliminary revenue ranges a week or more before each full release; this table uses the full release.

We do not hold a confirmed date for ACM Research's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

ACM Research had revenue of $367.7 million in Q3 2026, up 36.6% from $269.2 million. ACM put the rise down mainly to higher sales of ECP (front-end and packaging), furnace and other technologies, along with more single-wafer cleaning, Tahoe and semi-critical cleaning equipment, advanced packaging, services and spares. (ACM Research Q3 2026 release, Nov 5, 2026)

Cleaning is still the largest category: single wafer cleaning, Tahoe and semi-critical cleaning equipment brought in $210.7 million, against $181.6 million a year earlier. ECP (front-end and packaging), furnace and other technologies grew fastest, to $109.5 million from $59.9 million, and advanced packaging (excluding ECP), services and spares reached $47.5 million from $27.7 million. (ACM Research Q3 2026 release, Nov 5, 2026)

ACM's sales are concentrated in one country and a few customers. Substantially all revenue in the quarter came from customers in mainland China, so ACM presents no geographic segment data, and two customers accounted for 37.3% of revenue, against 38.9% a year earlier. ACM Shanghai and ACM Korea were added to the U.S. Commerce Department's BIS Entity List effective December 2, 2024. (ACM Research Form 10-Q, Q3 2026, Nov 6, 2026)

Shipments run ahead of revenue because first tools wait for customer acceptance. Total shipments were $343.5 million in Q3 2026, up 30.6%, counting deliveries for revenue in the quarter and first tools awaiting acceptance. ACM said the second building of its Lingang manufacturing facility comes online in Q4, doubling its manufacturing floor space. (ACM Research Q3 2026 release, Nov 5, 2026)

ACM Research earned $0.02 per diluted share under GAAP in Q3 2026, against $0.52 a year earlier, while non-GAAP EPS rose to $0.55 from $0.41. Net income attributable to ACM was $1.5 million on a GAAP basis and $40.5 million on a non-GAAP basis. The non-GAAP figures exclude stock-based compensation of $10.7 million and the unrealized loss on short-term investments, along with its effect on the minority holders' share. (ACM Research Q3 2026 release, Nov 5, 2026)

The gap came below operating income. Operating income rose to $55.5 million from $28.9 million, a 15.1% operating margin against 10.7%, but GAAP results also took a $39.1 million unrealized loss on investments held by ACM Shanghai and a $7.1 million loss from equity method investments. Income tax expense was $1.9 million. (ACM Research Q3 2026 release, Nov 5, 2026)

ACM owns 72.8% of ACM Shanghai, and $4.8 million of Q3 net income was attributed to the minority holders. Diluted weighted average shares rose to 73,629,630 from 68,414,313 a year earlier. Gross margin was 41.5%, slightly below ACM's long-term model range of 42% to 48%. (ACM Research Form 10-Q, Q3 2026, Nov 6, 2026; ACM Research Q3 2026 release, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

ACM Research raised its fiscal 2026 revenue outlook to $1.24 billion to $1.28 billion, or 38% to 42% growth, from a prior range of $1.125 billion to $1.175 billion. ACM said the range reflects strong customer demand and expected shipment growth in Q4, and rests on its view of international trade policy, customer spending, supply chain constraints and the timing of acceptances for first tools in the field. (ACM Research Q3 2026 release, Nov 5, 2026)

ACM Research gives no EPS or margin outlook in the release beyond its long-term gross margin target range of 42% to 48%, and it said gross margin will vary from period to period with product mix, currency impacts and sales volume. (ACM Research Q3 2026 release, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover ACM Research, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones ACM Research's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ACMR is on is ACMR a buy or a sell?, what analysts expect next is on the ACMR forecast, and what the company does is on the ACM Research (ACMR) stock page.

Every number on this page can be traced to a document ACM Research published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.