10-Q Filing

ACM RESEARCH, INC. CIK: 1680062 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001654954-18-005164`
Period End Date	20180331
Filing Date	20180514
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	acmr-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 52 Cash Flow Statement 58

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $ nil as of March 31, 2018 and $ nil as of December 31, 2017 (note 3)	`AccountsReceivableNetCurrent`	$26.76M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $ nil as of March 31, 2018 and $ nil as of December 31, 2017 (note 3)	`AccountsReceivableNetCurrent`	$27.79M	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	$1.22M	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	$2.49M	USD	Point-in-time
Inventory (note 4)	`InventoryNet`	$15.39M	USD	Point-in-time
Inventory (note 4)	`InventoryNet`	$19.86M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$2.38M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$546.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$46.00K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$45.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$66.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$62.91M	USD	Point-in-time
Property, plant and equipment, net (note 5)	`PropertyPlantAndEquipmentNet`	$2.34M	USD	Point-in-time
Property, plant and equipment, net (note 5)	`PropertyPlantAndEquipmentNet`	$2.73M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$106.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$126.00K	USD	Point-in-time
Deferred tax assets (note 15)	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.29M	USD	Point-in-time
Deferred tax assets (note 15)	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.34M	USD	Point-in-time
Investment in affiliates, equity method (note 10)	`EquityMethodInvestments`	$1.24M	USD	Point-in-time
Investment in affiliates, equity method (note 10)	`EquityMethodInvestments`	$1.24M	USD	Point-in-time
Total assets	`Assets`	$67.89M	USD	Point-in-time
Total assets	`Assets`	$71.93M	USD	Point-in-time
Short-term borrowings (note 6)	`ShortTermBorrowings`	$5.09M	USD	Point-in-time
Short-term borrowings (note 6)	`ShortTermBorrowings`	$10.38M	USD	Point-in-time
Warrant liability (note 8)	`WarrantsAndRightsOutstanding`	-	USD	Point-in-time
Warrant liability (note 8)	`WarrantsAndRightsOutstanding`	$3.08M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.53M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$7.42M	USD	Point-in-time
Advances from customers	`CustomerAdvancesCurrent`	$264.00K	USD	Point-in-time
Advances from customers	`CustomerAdvancesCurrent`	$143.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$44.00K	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$44.00K	USD	Point-in-time
Other payables and accrued expenses (note 7)	`OtherAccountsPayableAndAccruedLiabilities`	$6.54M	USD	Point-in-time
Other payables and accrued expenses (note 7)	`OtherAccountsPayableAndAccruedLiabilities`	$6.04M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.82M	USD	Point-in-time
Other long-term liabilities (note 9)	`OtherLiabilitiesNoncurrent`	$6.18M	USD	Point-in-time
Other long-term liabilities (note 9)	`OtherLiabilitiesNoncurrent`	$6.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.93M	USD	Point-in-time
Total liabilities	`Liabilities`	$28.03M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$49.70M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$54.91M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-9.96M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-12.74M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$122.00K	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$827.00K	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$39.86M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$43.00M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$71.93M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$67.89M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$5.66M	USD	1 Quarter
Revenue	`Revenues`	$9.74M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$4.62M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$3.26M	USD	1 Quarter
Gross profit	`GrossProfit`	$2.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.12M	USD	1 Quarter
Sales and marketing	`MarketingAndAdvertisingExpense`	$1.85M	USD	1 Quarter
Sales and marketing	`MarketingAndAdvertisingExpense`	$1.16M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$928.00K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.63M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.86M	USD	1 Quarter
Total operating expenses, net	`OperatingExpenses`	$3.96M	USD	1 Quarter
Total operating expenses, net	`OperatingExpenses`	$7.03M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.55M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.90M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$103.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$78.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-755.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-64.00K	USD	1 Quarter
Equity in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$1.00K	USD	1 Quarter
Equity in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.69M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.76M	USD	1 Quarter
Income tax expense (note 15)	`IncomeTaxExpenseBenefit`	$22.00K	USD	1 Quarter
Income tax expense (note 15)	`IncomeTaxExpenseBenefit`	$781.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.78M	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.47M	USD	1 Quarter
Less: Net loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Less: Net loss attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-385.00K	USD	1 Quarter
Net loss attributable to ACM Research, Inc.	`NetIncomeLoss`	$-2.09M	USD	1 Quarter
Net loss attributable to ACM Research, Inc.	`NetIncomeLoss`	$-2.78M	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.78M	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.47M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$44.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$705.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-2.08M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$-2.43M	USD	1 Quarter
Less: Comprehensive loss attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-369.00K	USD	1 Quarter
Less: Comprehensive loss attributable to non-controlling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Total comprehensive loss attributable to ACM Research, Inc. (note 2)	`ComprehensiveIncomeNetOfTax`	$-2.08M	USD	1 Quarter
Total comprehensive loss attributable to ACM Research, Inc. (note 2)	`ComprehensiveIncomeNetOfTax`	$-2.06M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.43	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.43	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	4.82M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.38M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	4.82M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.38M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-2.78M	USD	1 Quarter
Net loss	`ProfitLoss`	$-2.47M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$80.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$57.00K	USD	1 Quarter
Undistributed earnings from investments in equity method affiliates	`IncomeLossFromEquityMethodInvestments`	$1.00K	USD	1 Quarter
Undistributed earnings from investments in equity method affiliates	`IncomeLossFromEquityMethodInvestments`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$781.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$835.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.17M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-3.07M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-14.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-275.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-1.33M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$3.90M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.78M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.79M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$299.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$100.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-3.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.36M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$533.00K	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInCustomerAdvances`	$458.00K	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInCustomerAdvances`	$87.00K	USD	1 Quarter
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-9.00K	USD	1 Quarter
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$27.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-989.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-278.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.39M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$352.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$395.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$24.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-36.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-395.00K	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$3.82M	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$7.39M	USD	1 Quarter
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$2.31M	USD	1 Quarter
Repayments of short-term borrowings	`RepaymentsOfShortTermDebt`	$2.54M	USD	1 Quarter
Proceeds from stock option exercise to common stock	`ProceedsFromStockOptionsExercised`	$378.00K	USD	1 Quarter
Proceeds from stock option exercise to common stock	`ProceedsFromStockOptionsExercised`	$62.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$1.66M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$5.14M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-13.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$150.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.50M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.96M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$17.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.19M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.68M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.08M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.19M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$10.12M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$76.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$100.00K	USD	1 Quarter

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