ACM Research Clocks 109% Revenue Growth In Q4 Backed By Flagship Cleaning Tools

ACM Research Inc ACMR reported fourth-quarter FY21 revenue growth of 108.8% year-on-year to $95.1 million, beating the consensus of $89.5 million.
Revenue from Single wafer cleaning, Tahoe, and semi-critical cleaning equipment rose 68.3% Y/Y.
ECP (front-end and packaging), furnace, and other technologies revenue climbed 386% Y/Y.
Revenue from Advanced packaging (excluding ECP), services & spares increased 189% Y/Y.
The non-GAAP gross margin expanded 460 bps to 47.9%.
Non-GAAP EPS of $0.81 beat the consensus of $0.64.
ACM held $592.6 million in cash and equivalents.
ACM CEO Dr. David Wang. "Our results demonstrate the effectiveness of ACM's multi-product strategy, with strong growth from our flagship cleaning tools, and significant increases from electrochemical plating and advanced packaging products."
Outlook: ACM raised the FY22 revenue outlook to $365 million - $405 million from the previous $345 million - $385 million.
Price Action: ACMR shares closed higher by 7.6% at $80.23 on Thursday.

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