ACM Research to Unveil 2026 Outlook, Setting Tone for Chip Sector

FREMONT, CA – December 29, 2025 – ACM Research, a pivotal supplier of equipment for the global semiconductor industry, has positioned itself for a high-stakes January. The company announced today that it will release its preliminary revenue range for the full fiscal year 2025 and provide its initial revenue outlook for 2026 before the U.S. market opens on Thursday, January 22, 2026. This forward-looking guidance will be preceded by the company's participation in the 28th Annual Needham Growth Conference on January 15, where it will host virtual one-on-one meetings with investors.

These upcoming events are poised to be more than just a corporate update; they represent a significant early barometer for the health and trajectory of the entire semiconductor capital equipment sector. As chip manufacturers navigate a landscape driven by intense demand from artificial intelligence and data centers, the forecasts from key suppliers like ACM Research provide critical insights into future capital spending and manufacturing capacity expansions.

An Early Barometer for a Booming Industry

Investors and industry analysts will be scrutinizing ACM's initial 2026 outlook with exceptional interest. As one of the first equipment suppliers to offer a glimpse into that year, its projections could influence market sentiment and set expectations for peers across the industry. The semiconductor market, while robust, continues to face a complex mix of powerful growth drivers and potential headwinds, including persistent geopolitical tensions and supply chain intricacies.

The demand for advanced chips, particularly high-bandwidth memory (HBM) and next-generation logic, remains a primary catalyst for growth. ACM's specialized equipment is essential for producing these sophisticated devices, placing the company at the heart of the industry's technological advancement. The guidance released on January 22 will therefore not only reflect ACM's internal expectations but also its reading of the broader industry's confidence and investment plans for the coming years.

Market watchers are looking for signs of sustained momentum. A strong outlook from ACM could signal that chipmakers are continuing to aggressively invest in new fabrication plants (fabs) and technology upgrades, while a more conservative forecast might suggest caution amid economic uncertainties or shifting demand patterns.

Financial Performance and High Expectations

ACM Research enters this period of disclosure on the back of a powerful multi-year growth streak. The company's revenue has expanded dramatically, posting a 40.2% year-over-year increase in fiscal 2024 to reach $782.1 million. This impressive performance is part of a consistent trend, with growth rates of 43.4% in 2023 and 49.7% in 2022.

More recently, the company's third-quarter 2025 results, reported in November, painted a nuanced picture. Revenue of $269.16 million represented a 32% year-over-year increase and surpassed analyst expectations. However, this top-line strength was accompanied by a contraction in gross margin to 42.0%, down from 51.4% in the same quarter of the prior year, a shift the company attributed to product mix and inventory write-downs. This margin pressure contributed to an earnings per share (EPS) of $0.36, which fell short of consensus estimates.

For the full fiscal year 2025, ACM had previously narrowed its revenue guidance to a range of $875 million to $925 million, implying a healthy 15% growth at the midpoint. The upcoming announcement will reveal the preliminary actuals against this target. Wall Street remains broadly optimistic, with a majority of analysts maintaining "Buy" or "Strong Buy" ratings on the stock. The key question for investors is whether the initial 2026 outlook will project a continuation of double-digit growth, and what the company's commentary will be regarding the path back to its long-term gross margin target of 42% to 48%.

Technology at the Core of Growth

Beyond the financial figures, ACM's strategic importance is rooted in its highly specialized product portfolio. The company is a leader in wafer cleaning, electroplating, and advanced packaging solutions—processes that are becoming increasingly critical as semiconductor designs grow more complex and three-dimensional.

Its proprietary technologies, such as the SAPS, TEBO, and Tahoe single-wafer cleaning tools, are designed to deliver superior performance while addressing key manufacturing challenges like defect reduction and chemical consumption. For instance, the Ultra C Tahoe tool has been noted for its ability to clean both sides of a wafer effectively, a crucial step in preventing cross-contamination in advanced logic and memory production. This technological edge allows chipmakers to improve product yields and overall manufacturing efficiency.

Furthermore, ACM is making significant inroads into the rapidly expanding field of advanced packaging. Its focus on horizontal plating technology for panel-level packaging, with a first system shipment planned, positions it to capture growth in this area, which is vital for integrating multiple chips into a single, powerful device for AI and high-performance computing applications. The company's ability to provide customized, cost-effective solutions for these demanding manufacturing steps underpins its competitive advantage and long-term growth narrative.

The January Gauntlet: Needham and the Outlook Release

January will be a defining month for ACM Research. The one-on-one meetings at the Needham Growth Conference on January 15 will provide a crucial forum for management to communicate its strategy and address investor concerns directly, particularly around margins and the demand environment. This engagement will set the stage for the formal guidance release a week later.

On January 22, all eyes will be on the numbers. Investors will be assessing whether the preliminary 2025 revenue falls at the high or low end of the previously stated range. More importantly, the initial 2026 revenue outlook will serve as the primary catalyst for the stock. A projection that meets or exceeds the high expectations built by the company's historical performance could fuel further investor confidence. Backed by a formidable cash position of $1.10 billion as of September 30, 2025—bolstered by a successful offering from its Shanghai subsidiary—ACM has the resources to fund its ambitious R&D and global expansion plans. The upcoming announcements will provide a critical test of whether that strategic investment is translating into a sustained and profitable growth trajectory.