Q3 2024 ACM Research Inc Earnings Call Transcript
Key Points
- ACM Research Inc (ACMR) reported a 21% increase in third-quarter revenue, reaching $204 million.
- The company achieved a gross margin of 51.6%, exceeding its long-term target range of 40-45%.
- ACM Research Inc (ACMR) has raised its 2024 revenue outlook to $725-$745 million, indicating strong growth expectations.
- The company is making significant progress with its high-temperature SPM solutions, positioning itself as a key player in the market.
- ACM Research Inc (ACMR) is expanding its global footprint, with new facilities in China and the US, enhancing its production and R&D capabilities.
- Advanced packaging revenue declined by 21% in Q3, indicating challenges in this segment.
- The company's reliance on the Chinese market remains high, with 63% of revenue coming from China, posing a risk if geopolitical tensions escalate.
- There is uncertainty regarding future US trade policies, which could impact ACM Research Inc (ACMR)'s operations and market access.
- Gross margins are expected to return to the target range of 40-45% in the future, suggesting potential pressure on profitability.
- The advanced packaging market in China is experiencing a slowdown, which could affect future growth prospects in this area.
Good day. Ladies and gentlemen, thank you for standing by and welcome to the AC M Research fiscal third quarter, 2024 earnings conference call. Currently all participants are in a listen-only mode later, we will conduct a question and answer session and instructions will follow at that time.
As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time.
Now, I'll turn the call over to Mr Gary Dvorchak, Managing Director of the Blue Blue Shirt Group. Gary. Please go ahead.
Good day, everyone. Thank you for joining us to discuss third quarter, 2024 results which we released before the US market opened today. The release is available on our website as well as from newswire services. There's also a supplemental deck slide deck posted to the investor section of our website that will reference during our prepared remarks on the call with me today. Are, are our CEO Doctor David Long, our CFO, Mark mckechnie and Lisa Fang, the CFO of our operating
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