Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.4M | $36.5M | $74.6M | $108M | $157M | $260M | $389M | $558M | $782M | $901M |
| Revenue growth | — | 33.4% | 104.5% | 44.1% | 45.7% | 65.8% | 49.7% | 43.4% | 40.2% | 15.2% |
| Gross profit | $13.3M | $17.2M | $34.4M | $50.7M | $69.6M | $115M | $184M | $276M | $392M | $400M |
| Gross margin | 48.7% | 47.2% | 46.2% | 47.1% | 44.4% | 44.2% | 47.2% | 49.5% | 50.1% | 44.4% |
| Operating income | $3.49M | $700K | $6.47M | $17.8M | $21.5M | $38.7M | $59.0M | $95.8M | $151M | $109M |
| Operating margin | 12.8% | 1.9% | 8.7% | 16.5% | 13.7% | 14.9% | 15.2% | 17.2% | 19.3% | 12.1% |
| Net income | $1.03M | -$318K | $6.57M | $18.9M | $18.8M | $37.8M | $39.3M | $77.3M | $104M | $94.1M |
| Net margin | 3.8% | -0.9% | 8.8% | 17.6% | 12.0% | 14.5% | 10.1% | 13.9% | 13.2% | 10.4% |
| EPS (diluted) | $0.18 | -$0.05 | $0.37 | $0.99 | $0.30 | $0.58 | $0.59 | $1.16 | $1.53 | $1.37 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.70M | -$8.10M | $6.91M | $9.40M | -$13.5M | -$40.1M | -$62.2M | -$75.3M | $152M | -$10.3M |
| Capital expenditures | $795K | $651K | $1.83M | $971K | $5.21M | $9.15M | $91.1M | $61.9M | $82.5M | $56.3M |
| Free cash flow | -$4.50M | -$8.75M | $5.08M | $8.43M | -$18.8M | -$49.2M | -$153M | -$137M | $70.0M | -$66.6M |
| Share buybacks | — | — | $0.00 | $2.83M | $0.00 | $0.00 | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $10.1M | $17.7M | $27.1M | $58.3M | $71.8M | $563M | $248M | $182M | $407M | $757M |
| Total assets | $44.5M | $67.9M | $103M | $218M | $341M | $1.05B | $1.24B | $1.49B | $1.86B | $2.87B |
| Total liabilities | $23.9M | $28.0M | $50.7M | $60.2M | $133M | $241M | $423M | $565M | $760M | $942M |
| Long-term debt | — | — | — | $0.00 | $18.0M | $23.0M | $18.7M | $54.0M | $106M | $179M |
| Shareholders' equity | -$2.43M | $39.9M | $52.3M | $97.3M | $141M | $676M | $675M | $767M | $905M | $1.46B |
| Retained earnings | -$9.64M | -$9.96M | -$3.39M | $15.5M | $34.3M | $63.7M | $94.4M | $157M | $260M | $350M |
| Shares (wtd avg diluted) | 3.79M | 6.87M | 17.9M | 19.1M | 63.6M | 65.4M | 65.3M | 64.9M | 66.2M | 67.3M |
Every figure is extracted from ACM Research, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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