Short answer
ACM Research, Inc. (ACMR) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $269M (up 32.0% year over year) with net income of $36M.
Q3 2025 key financials · XBRL
- Revenue
- $269M
- +32.0% YoY · +25.0% QoQ
- Net income
- $36M
- +16.1% YoY · +20.6% QoQ
- Operating margin
- 10.7%
- Gross margin
- 42.0%
- EPS (diluted)
- $0.52
- +13.0% YoY · +18.2% QoQ
Source: XBRL data from the ACM Research, Inc. (ACMR) Q3 2025 10-Q on SEC EDGAR. USD.
ACM Research, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- New risk: Loan covenants with China Merchants Bank require ACM Shanghai to raise RMB 900M in Private Offering by Jan 2028 or accelerate loan repayments
- Updated operational risk: Accounts receivable increased by $91.3M, and inventories rose $80.7M, impacting near-term cash flow and working capital needs
- Most impactful legal/compliance risk: Land Use Right Grant Agreement requires RMB 157.6M annual tax payments by July 2027 or risks land rights termination and liquidated damages
- Market risk: First tool shipments fell 19% to $289.8M, reflecting reduced new customer product acceptance and potential delay of future revenue recognition
- Financial risk: Total debt outstanding $287M with maturities through 2035 and interest rates 2.11%-3.65%, with loan agreements imposing EBITDA leverage limits and accelerated repayment clauses
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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