ACM Research Reaffirms 2022 Revenue Outlook and Provides Initial Outlook for 2023 Revenue

—Reaffirms 2022 Revenue of $365-$385 Million—
—Projected 2023 Revenue of $515 to $585 Million—
—ACM to Present at Morgan Stanley, Credit Suisse and Needham Investor Conferences—

FREMONT, Calif., Jan. 03, 2023 (GLOBE NEWSWIRE) -- ACM Research, Inc. (ACM) (NASDAQ: ACMR), a leading supplier of wafer processing solutions for semiconductor and advanced wafer-level packaging applications, today has reaffirmed its full year 2022 revenue outlook of $365 million to $385 million as was provided in ACM’s third quarter 2022 earnings release issued on November 4, 2022.

ACM also announced that it expects revenue for the full year 2023 to be in the range of $515 million to $585 million. This expectation is based on ACM management’s current assessment of the potential impact from current US-China trade policy, and assumes the COVID-19 reopening in the PRC, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors.

“We expect continued growth in 2023 as we execute on our mission to become a major equipment supplier to the global semiconductor industry,” said Dr. David Wang, ACM’s President and Chief Executive Officer. “Following a temporary pause by some customers as the industry adjusts to the recent U.S. trade restrictions, we continue to anticipate a recovery in mature node spending as some of our China customers add capacity to better align China’s domestic semiconductor production with its market consumption. We also anticipate incremental contributions from new customers and newer products, including our Ultra C wb (Autobench cleaning), ECP map, ECP ap, and Ultra Furnace products.”