Q1 revenue +34% to $231M on ECP/furnace surge; net income -15% as below-the-line costs rose

Filed May 8, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 12, 2025 · ~2 min read

Key Changes

• high

  Operating income rose 40.3% to $36.2M, but net income fell 15.1% to $17.3M due to $13.5M net below-the-line drag (non-operating/other -$7.6M, income tax -$1.6M, noncontrolling interest -$4.3M). The dominant driver was a $9.5M unrealized FX loss on RMB working capital, up from $0.6M prior year.

  MD&A: Other expense, net verify on EDGAR →
• high

  ACM sold 4.8M ACM Shanghai shares in February 2026 for $110.2M gross ($86M net of taxes), reducing ownership from 74.6% to 73.6%. Minority shareholders now claim 26.4% of subsidiary earnings vs. 18.9% prior year, diluting parent-company shareholders' economic interest.

  MD&A: ACM Shanghai share sale verify on EDGAR →
• high

  Revenue grew 34.2% to $231.3M driven by 205% surge in ECP/furnace sales ($84.2M vs. $27.6M) and 62% rise in advanced packaging/services ($24.5M vs. $15.1M). Single-wafer cleaning revenue fell 5.5% to $122.5M, reflecting product-mix shift.

  MD&A: Revenue by product category verify on EDGAR →