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10-Q Filing

ACM RESEARCH, INC. CIK: 1680062 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001140361-20-011117
Period End Date 20200331
Filing Date 20200508
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance acmr-20200331.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $27.37M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.26M USD Point-in-time
Accounts receivable, allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent - USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $52.28M USD Point-in-time
Restricted cash RestrictedCashCurrent - USD Point-in-time
Restricted cash RestrictedCashCurrent $58.73M USD Point-in-time
Restricted cash RestrictedCashCurrent $59.60M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $0 as of March 31, 2020 and $0 as of December 31, 2019 (note 3) AccountsReceivableNetCurrent $37.26M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $0 as of March 31, 2020 and $0 as of December 31, 2019 (note 3) AccountsReceivableNetCurrent $31.09M USD Point-in-time
Other receivables OtherReceivablesNetCurrent $2.60M USD Point-in-time
Other receivables OtherReceivablesNetCurrent $3.24M USD Point-in-time
Inventories (note 4) InventoryNet $44.80M USD Point-in-time
Inventories (note 4) InventoryNet $44.99M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $2.05M USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $1.99M USD Point-in-time
Total current assets AssetsCurrent $198.40M USD Point-in-time
Total current assets AssetsCurrent $198.48M USD Point-in-time
Property, plant and equipment, net (note 5) PropertyPlantAndEquipmentNet $3.50M USD Point-in-time
Property, plant and equipment, net (note 5) PropertyPlantAndEquipmentNet $3.62M USD Point-in-time
Operating lease right-of-use assets, net (note 8) OperatingLeaseRightOfUseAsset $3.55M USD Point-in-time
Operating lease right-of-use assets, net (note 8) OperatingLeaseRightOfUseAsset $3.89M USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $307.00K USD Point-in-time
Intangible assets, net FiniteLivedIntangibleAssetsNet $344.00K USD Point-in-time
Deferred tax assets (note 15) DeferredIncomeTaxAssetsNet $5.21M USD Point-in-time
Deferred tax assets (note 15) DeferredIncomeTaxAssetsNet $5.33M USD Point-in-time
Long-term investments (note 10) Investments $5.93M USD Point-in-time
Long-term investments (note 10) Investments $6.01M USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $192.00K USD Point-in-time
Other long-term assets OtherAssetsNoncurrent $155.00K USD Point-in-time
Total assets Assets $217.70M USD Point-in-time
Total assets Assets $217.21M USD Point-in-time
Short-term borrowings (note 6) ShortTermBorrowings $13.75M USD Point-in-time
Short-term borrowings (note 6) ShortTermBorrowings $3.89M USD Point-in-time
Accounts payable AccountsPayableCurrent $13.26M USD Point-in-time
Accounts payable AccountsPayableCurrent $18.62M USD Point-in-time
Advances from customers ContractWithCustomerLiabilityCurrent $9.24M USD Point-in-time
Advances from customers ContractWithCustomerLiabilityCurrent $9.13M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $3.35M USD Point-in-time
Income taxes payable AccruedIncomeTaxesCurrent $3.13M USD Point-in-time
Other payables and accrued expenses (note 7) OtherAccountsPayableAndAccruedLiabilities $14.33M USD Point-in-time
Other payables and accrued expenses (note 7) OtherAccountsPayableAndAccruedLiabilities $12.87M USD Point-in-time
Current portion of operating lease liability (note 8) OperatingLeaseLiabilityCurrent $1.34M USD Point-in-time
Current portion of operating lease liability (note 8) OperatingLeaseLiabilityCurrent $1.35M USD Point-in-time
Total current liabilities LiabilitiesCurrent $53.50M USD Point-in-time
Total current liabilities LiabilitiesCurrent $50.77M USD Point-in-time
Long-term operating lease liability (note 8) OperatingLeaseLiabilityNoncurrent $2.20M USD Point-in-time
Long-term operating lease liability (note 8) OperatingLeaseLiabilityNoncurrent $2.53M USD Point-in-time
Other long-term liabilities (note 9) OtherLiabilitiesNoncurrent $4.19M USD Point-in-time
Other long-term liabilities (note 9) OtherLiabilitiesNoncurrent $5.83M USD Point-in-time
Total liabilities Liabilities $58.80M USD Point-in-time
Total liabilities Liabilities $60.22M USD Point-in-time
Commitments and contingencies (note 17) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (note 17) CommitmentsAndContingencies - USD Point-in-time
Redeemable non-controlling interests (note 13) RedeemableNoncontrollingInterestEquityCarryingAmount $59.47M USD Point-in-time
Redeemable non-controlling interests (note 13) RedeemableNoncontrollingInterestEquityCarryingAmount $60.16M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $83.49M USD Point-in-time
Additional paid in capital AdditionalPaidInCapital $84.35M USD Point-in-time
Accumulated surplus RetainedEarningsAccumulatedDeficit $15.51M USD Point-in-time
Accumulated surplus RetainedEarningsAccumulatedDeficit $17.21M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-1.68M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-2.62M USD Point-in-time
Total stockholders' equity StockholdersEquity $55.64M USD Point-in-time
Total stockholders' equity StockholdersEquity $97.32M USD Point-in-time
Total stockholders' equity StockholdersEquity $52.32M USD Point-in-time
Total stockholders' equity StockholdersEquity $98.94M USD Point-in-time
Total liabilities, redeemable non-controlling interests, and stockholders' equity LiabilitiesAndStockholdersEquity $217.70M USD Point-in-time
Total liabilities, redeemable non-controlling interests, and stockholders' equity LiabilitiesAndStockholdersEquity $217.21M USD Point-in-time
Income Statement 52 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $24.35M USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $20.48M USD 1 Quarter
Cost of revenue CostOfRevenue $14.12M USD 1 Quarter
Cost of revenue CostOfRevenue $11.65M USD 1 Quarter
Gross profit GrossProfit $10.23M USD 1 Quarter
Gross profit GrossProfit $8.83M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $3.00M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $1.87M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $3.68M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $2.77M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $2.33M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $1.94M USD 1 Quarter
Total operating expenses, net OperatingExpenses $9.01M USD 1 Quarter
Total operating expenses, net OperatingExpenses $6.58M USD 1 Quarter
Income from operations OperatingIncomeLoss $2.25M USD 1 Quarter
Income from operations OperatingIncomeLoss $1.22M USD 1 Quarter
Interest income InvestmentIncomeInterest $335.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $9.00K USD 1 Quarter
Interest expense InterestExpense $139.00K USD 1 Quarter
Interest expense InterestExpense $111.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-261.00K USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $677.00K USD 1 Quarter
Equity income in net income of affiliates IncomeLossFromEquityMethodInvestments $116.00K USD 1 Quarter
Equity income in net income of affiliates IncomeLossFromEquityMethodInvestments $148.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $2.27M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $1.98M USD 1 Quarter
Income tax expense (note 15) IncomeTaxExpenseBenefit $119.00K USD 1 Quarter
Income tax expense (note 15) IncomeTaxExpenseBenefit $304.00K USD 1 Quarter
Net income ProfitLoss $1.86M USD 1 Quarter
Net income ProfitLoss $1.96M USD 1 Quarter
Less: Net income attributable to redeemable non-controlling interests NetIncomeLossAttributableToRedeemableNoncontrollingInterest $258.00K USD 1 Quarter
Less: Net income attributable to redeemable non-controlling interests NetIncomeLossAttributableToRedeemableNoncontrollingInterest - USD 1 Quarter
Net income available to common stockholders, basic and diluted NetIncomeLoss $1.86M USD 1 Quarter
Net income available to common stockholders, basic and diluted NetIncomeLoss $1.71M USD 1 Quarter
Net income ProfitLoss $1.86M USD 1 Quarter
Net income ProfitLoss $1.96M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $657.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-1.90M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $2.51M USD 1 Quarter
Comprehensive Income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $63.00K USD 1 Quarter
Less: Comprehensive income attributable to redeemable non-controlling interests ComprehensiveIncomeLossAttributableToRedeemableNonControllingInterests - USD 1 Quarter
Less: Comprehensive income attributable to redeemable non-controlling interests ComprehensiveIncomeLossAttributableToRedeemableNonControllingInterests $-694.00K USD 1 Quarter
Comprehensive income attributable to ACM Research, Inc. ComprehensiveIncomeNetOfTax $757.00K USD 1 Quarter
Comprehensive income attributable to ACM Research, Inc. ComprehensiveIncomeNetOfTax $2.51M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.09 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.12 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.08 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.10 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 16.04M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 18.12M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 18.23M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 21.07M shares 1 Quarter
Cash Flow Statement 68 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $1.86M USD 1 Quarter
Net income ProfitLoss $1.96M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $191.00K USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $212.00K USD 1 Quarter
Equity income in net income of affiliates IncomeLossFromEquityMethodInvestments $116.00K USD 1 Quarter
Equity income in net income of affiliates IncomeLossFromEquityMethodInvestments $148.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $35.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit - USD 1 Quarter
Stock-based compensation ShareBasedCompensation $744.00K USD 1 Quarter
Stock-based compensation ShareBasedCompensation $689.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-99.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $6.90M USD 1 Quarter
Other receivables IncreaseDecreaseInOtherReceivables $683.00K USD 1 Quarter
Other receivables IncreaseDecreaseInOtherReceivables $-669.00K USD 1 Quarter
Inventory IncreaseDecreaseInInventories $2.76M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $931.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $11.00K USD 1 Quarter
Prepaid expenses IncreaseDecreaseInPrepaidExpense $-190.00K USD 1 Quarter
Other long-term assets IncreaseDecreaseInOtherNoncurrentAssets - USD 1 Quarter
Other long-term assets IncreaseDecreaseInOtherNoncurrentAssets $-36.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $5.62M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-3.76M USD 1 Quarter
Advances from customers IncreaseDecreaseInContractWithCustomerLiability $195.00K USD 1 Quarter
Advances from customers IncreaseDecreaseInContractWithCustomerLiability $45.00K USD 1 Quarter
Income tax payable IncreaseDecreaseInAccruedIncomeTaxesPayable $263.00K USD 1 Quarter
Income tax payable IncreaseDecreaseInAccruedIncomeTaxesPayable $15.00K USD 1 Quarter
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $1.01M USD 1 Quarter
Other payables and accrued expenses IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities $1.78M USD 1 Quarter
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $1.72M USD 1 Quarter
Other long-term liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-1.37M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $3.83M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivities $-3.18M USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $118.00K USD 1 Quarter
Purchase of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $115.00K USD 1 Quarter
Purchase of intangible assets PaymentsToAcquireIntangibleAssets - USD 1 Quarter
Purchase of intangible assets PaymentsToAcquireIntangibleAssets $1.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-116.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-118.00K USD 1 Quarter
Proceeds from short-term borrowings ProceedsFromShortTermDebt $2.68M USD 1 Quarter
Proceeds from short-term borrowings ProceedsFromShortTermDebt $8.29M USD 1 Quarter
Repayments of short-term borrowings RepaymentsOfShortTermDebt $12.41M USD 1 Quarter
Repayments of short-term borrowings RepaymentsOfShortTermDebt $5.08M USD 1 Quarter
Proceeds from stock option exercise to common stock ProceedsFromStockOptionsExercised $60.00K USD 1 Quarter
Proceeds from stock option exercise to common stock ProceedsFromStockOptionsExercised $175.00K USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-9.56M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $3.26M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-1.00M USD 1 Quarter
Effect of exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $280.00K USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-6.85M USD 1 Quarter
Net increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $243.00K USD 1 Quarter
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $117.86M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $27.12M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $27.37M USD Point-in-time
Cash, cash equivalents and restricted cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $111.01M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $27.37M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $111.01M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $27.12M USD Point-in-time
Cash, cash equivalents and restricted cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $117.86M USD Point-in-time
Interest paid InterestPaidNet $139.00K USD 1 Quarter
Interest paid InterestPaidNet $111.00K USD 1 Quarter
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $27.37M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $58.26M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $52.28M USD Point-in-time
Restricted cash RestrictedCashCurrent $58.73M USD Point-in-time
Restricted cash RestrictedCashCurrent - USD Point-in-time
Restricted cash RestrictedCashCurrent $59.60M USD Point-in-time
Warrant conversion to common stock WarrantConversionToCommonStock $399.00K USD 1 Quarter
Warrant conversion to common stock WarrantConversionToCommonStock - USD 1 Quarter
Stockholders Equity 17 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $55.64M USD Point-in-time
Beginning balance StockholdersEquity $97.32M USD Point-in-time
Beginning balance StockholdersEquity $52.32M USD Point-in-time
Beginning balance StockholdersEquity $98.94M USD Point-in-time
Net income attributable to ACM Research, Inc. NetIncomeLoss $1.86M USD 1 Quarter
Net income attributable to ACM Research, Inc. NetIncomeLoss $1.71M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $657.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent $-948.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $60.00K USD 1 Quarter
Exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $175.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $744.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $689.00K USD 1 Quarter
Exercise of stock warrant StockIssuedDuringPeriodValueCommonStockWarrantExercised - USD 1 Quarter
Ending balance StockholdersEquity $55.64M USD Point-in-time
Ending balance StockholdersEquity $97.32M USD Point-in-time
Ending balance StockholdersEquity $52.32M USD Point-in-time
Ending balance StockholdersEquity $98.94M USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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