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ACM RESEARCH, INC.
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||
| ( In thousands, except share and per share data) | ( In thousands, except share and per share data) | ||||||||||||||
| Revenue | $ | 108,542 | $ | 95,142 | $ | 388,832 | $ | 259,751 | |||||||
| Cost of revenue | 54,737 | 49,696 | 205,217 | 144,895 | |||||||||||
| Gross profit | 53,805 | 45,446 | 183,615 | 114,856 | |||||||||||
| Operating expenses: | |||||||||||||||
| Sales and marketing | 12,395 | 9,273 | 39,889 | 26,733 | |||||||||||
| Research and development | 17,835 | 12,914 | 62,226 | 34,207 | |||||||||||
| General and administrative | 6,905 | 4,133 | 22,465 | 15,214 | |||||||||||
| Total operating expenses | 37,135 | 26,320 | 124,580 | 76,154 | |||||||||||
| Income from operations | 16,670 | 19,126 | 59,035 | 38,702 | |||||||||||
| Interest income | 2,775 | 392 | 8,740 | 505 | |||||||||||
| Interest expense | (669 | ) | (191 | ) | (1,655 | ) | (765 | ) | |||||||
| Realized gain from sale of trading securities | (20 | ) | - | 1,116 | - | ||||||||||
| Unrealized gain (loss) on trading securities | 1,707 | (1,210 | ) | (7,855 | ) | 607 | |||||||||
| Other income (expense), net | (6,634 | ) | 52 | 3,315 | (631 | ) | |||||||||
| Equity income in net income of affiliates | 3,014 | 3,601 | 4,666 | 4,637 | |||||||||||
| Income before income taxes | 16,843 | 21,770 | 67,362 | 43,055 | |||||||||||
| Income tax expense | (2,660 | ) | (3,155 | ) | (16,798 | ) | (134 | ) | |||||||
| Net income | 14,183 | 18,615 | 50,564 | 42,921 | |||||||||||
| Less: Net income attributable to non-controlling interests | 2,374 | 3,050 | 11,301 | 5,164 | |||||||||||
| Net income attributable to ACM Research, Inc. | $ | 11,809 | $ | 15,565 | $ | 39,263 | $ | 37,757 | |||||||
| Comprehensive income: | |||||||||||||||
| Net income | 14,183 | 18,615 | 50,564 | 42,921 | |||||||||||
| Foreign currency translation adjustment | 21,232 | 3,436 | (59,102 | ) | 4,695 | ||||||||||
| Comprehensive Income (loss) | 35,415 | 22,051 | (8,538 | ) | 47,616 | ||||||||||
| Less: Comprehensive income (loss) attributable to non-controlling interests and redeemable non-controlling interests | 6,232 | 3,136 | 1,854 | 5,607 | |||||||||||
| Comprehensive income (loss) attributable to ACM Research, Inc. | $ | 29,183 | $ | 18,915 | $ | (10,392 | ) | $ | 42,009 | ||||||
| Net income attributable to ACM Research, Inc. per common share: | |||||||||||||||
| Basic | $ | 0.20 | $ | 0.27 | $ | 0.66 | $ | 0.65 | |||||||
| Diluted | $ | 0.18 | $ | 0.23 | $ | 0.59 | $ | 0.58 | |||||||
| Weighted average common shares outstanding used in computing per share amounts: | |||||||||||||||
| Basic | 59,268,562 | 58,588,386 | 59,235,975 | 57,654,708 | |||||||||||
| Diluted | 64,198,325 | 66,325,821 | 65,341,771 | 65,356,716 | |||||||||||
ACM Research Reports Fourth Quarter and Fiscal Year 2022 Results
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