ACM Research Announces Preliminary Unaudited Revenue and Shipments for the Third Quarter 2026

ACM Research projects Q3 2026 revenue of $360–$365 million, up 34–36% year-over-year.

What the company is saying

ACM Research, Inc. (NASDAQ:ACMR) is providing preliminary, unaudited financial expectations for the third quarter of 2026, emphasizing strong top-line growth. The company expects revenue between $360 million and $365 million, which it frames as a 34% to 36% increase over the prior year. Shipments are projected at $335 million to $340 million, representing 27% to 29% year-over-year growth. The announcement highlights ACM Shanghai as the main revenue and profit driver, with ACM holding a 73.2% equity interest as of June 30, 2026. Management is transparent about the preliminary and unaudited nature of these figures, noting that actual results remain subject to quarter-end closing and audit review. The company also discloses that ACM Shanghai’s stand-alone results, reported in RMB under Chinese GAAP, will differ—potentially materially—from consolidated U.S. GAAP results. The tone is confident, focusing on growth and scale, and directs attention to the upcoming November 5, 2026 earnings call for full results and forward guidance.

What the data suggests

The disclosed ranges—$360 million to $365 million in revenue and $335 million to $340 million in shipments—signal substantial year-over-year growth, with revenue up 34% to 36% and shipments up 27% to 29%. These figures are preliminary and unaudited, so they may change after final closing and audit. The company does not provide Q3 2025 figures, so the stated growth rates cannot be independently verified. ACM Shanghai remains the dominant contributor to consolidated results, with a 73.2% equity stake held by the parent. The disclosure is specific on top-line metrics but omits profitability, margin, or cash flow data, leaving the quality of growth unassessed. The company is clear about differences between Chinese GAAP and U.S. GAAP reporting, warning that consolidated results could differ materially from the subsidiary’s stand-alone numbers. The evidence supports a narrative of rapid expansion, but the lack of bottom-line data and historical comparatives limits deeper analysis.

Analysis

The announcement presents preliminary, unaudited revenue and shipment ranges for Q3 2026, with strong year-over-year growth percentages. However, these are forward-looking estimates rather than final, audited results, and no profitability metrics (net income, EBITDA, operating profit, or cash flow) are disclosed. The language is upbeat, emphasizing high growth, but the absence of prior year figures prevents independent verification of the stated growth rates. The company is transparent about the preliminary nature of the data and the pending audit, but the lack of profit data means investors cannot assess whether the growth is translating into value. There is no evidence of exaggerated capital outlay or long-dated, uncertain returns; the focus is on near-term (Q3) operational performance.

Risk flags

• ●The figures are preliminary and unaudited, so there is a risk that final revenue and shipment numbers could differ from the stated ranges after audit and closing procedures. This matters because any downward revision could undermine the growth narrative and affect investor confidence.
• ●No profitability, margin, or cash flow data is disclosed, which prevents assessment of whether top-line growth is translating into sustainable earnings or free cash flow. This lack of bottom-line visibility is a material risk for investors focused on value creation rather than just scale.
• ●The company warns that consolidated U.S. GAAP results may differ materially from ACM Shanghai’s stand-alone Chinese GAAP results. This introduces potential for confusion or disappointment if headline growth does not translate into similar gains at the consolidated level, especially given currency and accounting differences.

Bottom line

ACM Research is signaling strong Q3 2026 growth, with revenue expected between $360 million and $365 million and shipments of $335 million to $340 million, representing 34–36% and 27–29% year-over-year increases, respectively. These numbers are preliminary and unaudited, so investors should wait for final results on November 5, 2026, before drawing firm conclusions. The lack of profitability or margin disclosure means it is unclear whether this growth is profitable or sustainable. The company’s warning about potential material differences between Chinese GAAP subsidiary results and consolidated U.S. GAAP numbers adds a layer of complexity and risk. The most important takeaway is that while top-line momentum appears strong, the true value impact will depend on final audited results and the translation of revenue growth into earnings and cash flow.

Announcement summary

(NASDAQ:ACMR) ACM Research, Inc. announced its expectations for preliminary unaudited revenue and total shipments for the third quarter of 2026. Preliminary unaudited revenue for the third quarter of 2026 is expected to be in the range of $360 million to $365 million. This revenue range would represent year-to-year growth of 34% to 36%. Preliminary total shipments for the third quarter of 2026 are expected to be in the range of $335 million to $340 million. This shipments range would represent year-to-year growth of 27% to 29%. Actual unaudited third quarter 2026 results are subject to the completion of ACM’s quarter end closing procedures and review by ACM’s independent registered public accounting firm. As of June 30, 2026, ACM owned a 73.2% equity interest in ACM Research (Shanghai), Inc. A substantial majority of ACM’s consolidated revenue and net income is contributed by ACM Shanghai. The stand-alone financial results of ACM Shanghai are reported in RMB as prepared in accordance with Chinese generally accepted accounting principles. These results will differ, potentially materially, from ACM’s consolidated revenue and net profit for the period, which will reflect additional financial and operational items and will be prepared in U.S. dollars in accordance with U.S. generally accepted accounting principles. ACM will discuss its full financial results for the third quarter 2026 and its revenue outlook for the remainder of the year on its earnings call on Thursday, November 5, 2026, at 8 a.m. Eastern Time (9 p.m. China Time). Today’s release coincides with the as-scheduled release of unaudited financial results by ACM Shanghai to the Shanghai Stock Exchange website.

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