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ACM RESEARCH, INC.
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||
| ( In thousands, except share and per share data) | ( In thousands, except share and per share data) | ||||||||||||||
| Revenue | $ | 133,709 | $ | 67,013 | $ | 280,290 | $ | 164,609 | |||||||
| Cost of revenue | 67,742 | 37,328 | 150,480 | 95,199 | |||||||||||
| Gross profit | 65,967 | 29,685 | 129,810 | 69,410 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 13,133 | 6,363 | 27,494 | 17,460 | |||||||||||
| Research and development | 15,678 | 7,856 | 44,391 | 21,293 | |||||||||||
| General and administrative | 5,520 | 3,671 | 15,560 | 11,081 | |||||||||||
| Total operating expenses, net | 34,331 | 17,890 | 87,445 | 49,834 | |||||||||||
| Income from operations | 31,636 | 11,795 | 42,365 | 19,576 | |||||||||||
| Interest income | 2,016 | 33 | 5,965 | 113 | |||||||||||
| Interest expense | (419 | ) | (191 | ) | (986 | ) | (574 | ) | |||||||
| Realized gain from sale of trading securities | 1,136 | - | 1,136 | - | |||||||||||
| Unrealized gain (loss) on trading securities | (5,281 | ) | (919 | ) | (9,562 | ) | 1,817 | ||||||||
| Other income (expense), net | 7,207 | (255 | ) | 9,949 | (683 | ) | |||||||||
| Equity income in net income of affiliates | 1,251 | 421 | 1,652 | 1,036 | |||||||||||
| Income before income taxes | 37,546 | 10,884 | 50,519 | 21,285 | |||||||||||
| Income tax benefit (expense) | (10,470 | ) | 266 | (14,138 | ) | 3,021 | |||||||||
| Net income | 27,076 | 11,150 | 36,381 | 24,306 | |||||||||||
| Less: Net income attributable to non-controlling interests | 6,072 | 995 | 8,927 | 2,114 | |||||||||||
| Net income attributable to ACM Research, Inc. | $ | 21,004 | $ | 10,155 | $ | 27,454 | $ | 22,192 | |||||||
| Comprehensive income: | |||||||||||||||
| Net income | 27,076 | 11,150 | 36,381 | 24,306 | |||||||||||
| Foreign currency translation adjustment | (42,416 | ) | (409 | ) | (80,334 | ) | 1,259 | ||||||||
| Comprehensive Income (loss) | (15,340 | ) | 10,741 | (43,953 | ) | 25,565 | |||||||||
| Less: Comprehensive income (loss) attributable to non-controlling interests and redeemable non-controlling interests | (1,057 | ) | 757 | (4,378 | ) | 2,471 | |||||||||
| Comprehensive income (loss) attributable to ACM Research, Inc. | $ | (14,283 | ) | $ | 9,984 | $ | (39,575 | ) | $ | 23,094 | |||||
| Net income attributable to ACM Research, Inc. per common share: | |||||||||||||||
| Basic | $ | 0.35 | $ | 0.17 | $ | 0.46 | $ | 0.39 | |||||||
| Diluted | $ | 0.32 | $ | 0.15 | $ | 0.41 | $ | 0.34 | |||||||
| Weighted average common shares outstanding used in computing per share amounts: | |||||||||||||||
| Basic | 59,360,790 | 58,267,638 | 59,123,895 | 57,340,059 | |||||||||||
| Diluted | 65,612,665 | 66,127,548 | 65,629,273 | 65,191,020 | |||||||||||
ACM Research Reports Third Quarter 2022 Results
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