10-Q Filing

ACM RESEARCH, INC. CIK: 1680062 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001654954-19-005926`
Period End Date	20190331
Filing Date	20190514
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	acmr-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 44 Cash Flow Statement 60 Stockholders Equity 17

Balance Sheet 62 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`	$27.12M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.19M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.37M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $0 as of March 31, 2019 and $0 as of December 31, 2018 (note 3)	`AccountsReceivableNetCurrent`	$25.07M	USD	Point-in-time
Accounts receivable, less allowance for doubtful accounts of $0 as of March 31, 2019 and $0 as of December 31, 2018 (note 3)	`AccountsReceivableNetCurrent`	$24.61M	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	$3.55M	USD	Point-in-time
Other receivables	`AccountsAndOtherReceivablesNetCurrent`	$2.98M	USD	Point-in-time
Inventories (note 4)	`InventoryNet`	$38.76M	USD	Point-in-time
Inventories (note 4)	`InventoryNet`	$42.25M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.83M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$96.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$99.50M	USD	Point-in-time
Property, plant and equipment, net (note 5)	`PropertyPlantAndEquipmentNet`	$3.71M	USD	Point-in-time
Property, plant and equipment, net (note 5)	`PropertyPlantAndEquipmentNet`	$3.72M	USD	Point-in-time
Operating lease right-of-use assets, net (note 8)	`OperatingLeaseRightOfUseAsset`	$4.79M	USD	Point-in-time
Operating lease right-of-use assets, net (note 8)	`OperatingLeaseRightOfUseAsset`	-	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$263.00K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$274.00K	USD	Point-in-time
Deferred tax assets (note 15)	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.67M	USD	Point-in-time
Deferred tax assets (note 15)	`DeferredTaxAssetsLiabilitiesNetNoncurrent`	$1.64M	USD	Point-in-time
Investment in affiliates, equity method (note 10)	`EquityMethodInvestments`	$1.48M	USD	Point-in-time
Investment in affiliates, equity method (note 10)	`EquityMethodInvestments`	$1.36M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	-	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$40.00K	USD	Point-in-time
Total assets	`Assets`	$111.42M	USD	Point-in-time
Total assets	`Assets`	$103.05M	USD	Point-in-time
Short-term borrowings (note 6)	`ShortTermBorrowings`	$12.83M	USD	Point-in-time
Short-term borrowings (note 6)	`ShortTermBorrowings`	$9.45M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.33M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$16.67M	USD	Point-in-time
Advances from customers	`CustomerAdvancesCurrent`	$8.47M	USD	Point-in-time
Advances from customers	`CustomerAdvancesCurrent`	$8.42M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.23M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$1.19M	USD	Point-in-time
Other payables and accrued expenses (note 7)	`OtherAccountsPayableAndAccruedLiabilities`	$11.83M	USD	Point-in-time
Other payables and accrued expenses (note 7)	`OtherAccountsPayableAndAccruedLiabilities`	$10.41M	USD	Point-in-time
Current portion of operating lease liability (note 8)	`OperatingLeaseLiabilityCurrent`	$1.33M	USD	Point-in-time
Current portion of operating lease liability (note 8)	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$49.02M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$46.14M	USD	Point-in-time
Long-term operating lease liability (note 8)	`OperatingLeaseLiabilityNoncurrent`	$3.46M	USD	Point-in-time
Long-term operating lease liability (note 8)	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Other long-term liabilities (note 9)	`OtherLiabilitiesNoncurrent`	$4.58M	USD	Point-in-time
Other long-term liabilities (note 9)	`OtherLiabilitiesNoncurrent`	$3.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$55.78M	USD	Point-in-time
Total liabilities	`Liabilities`	$50.72M	USD	Point-in-time
Commitments and contingencies (note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 16)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$56.57M	USD	Point-in-time
Additional paid in capital	`AdditionalPaidInCapitalCommonStock`	$57.37M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.39M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.53M	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-200.00K	USD	Point-in-time
Accumulated other comprehensive income (loss)	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-857.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$52.32M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$55.64M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$111.42M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$103.05M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$20.48M	USD	1 Quarter
Revenue	`Revenues`	$9.74M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$4.62M	USD	1 Quarter
Cost of revenue	`CostOfRevenue`	$11.65M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.12M	USD	1 Quarter
Gross profit	`GrossProfit`	$8.83M	USD	1 Quarter
Sales and marketing	`MarketingAndAdvertisingExpense`	$1.87M	USD	1 Quarter
Sales and marketing	`MarketingAndAdvertisingExpense`	$1.85M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.54M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.77M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.63M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.94M	USD	1 Quarter
Total operating expenses, net	`OperatingExpenses`	$7.03M	USD	1 Quarter
Total operating expenses, net	`OperatingExpenses`	$6.58M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$-1.90M	USD	1 Quarter
Income (loss) from operations	`OperatingIncomeLoss`	$2.25M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$3.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$139.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$103.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-261.00K	USD	1 Quarter
Other expense, net	`OtherNonoperatingIncomeExpense`	$-755.00K	USD	1 Quarter
Equity income in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$1.00K	USD	1 Quarter
Equity income in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$116.00K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.98M	USD	1 Quarter
Income (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`	$119.00K	USD	1 Quarter
Net income (loss) attributable to ACM Research, Inc.	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income (loss) attributable to ACM Research, Inc.	`NetIncomeLoss`	$-2.78M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$1.86M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-2.78M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$705.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$657.00K	USD	1 Quarter
Total comprehensive income (loss) (note 2)	`ComprehensiveIncomeNetOfTax`	$-2.08M	USD	1 Quarter
Total comprehensive income (loss) (note 2)	`ComprehensiveIncomeNetOfTax`	$2.51M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.12	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.18	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.10	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.18	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	15.38M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	16.04M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.38M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	18.23M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-2.78M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$1.86M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$191.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$80.00K	USD	1 Quarter
Equity income in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$1.00K	USD	1 Quarter
Equity income in net income of affiliates	`IncomeLossFromEquityMethodInvestments`	$116.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.17M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$744.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-99.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInReceivables`	$-14.00K	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-1.33M	USD	1 Quarter
Other receivables	`IncreaseDecreaseInOtherReceivables`	$-669.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$3.90M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.76M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.79M	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-190.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-3.00K	USD	1 Quarter
Other current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-3.76M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-2.36M	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInCustomerAdvances`	$87.00K	USD	1 Quarter
Advances from customers	`IncreaseDecreaseInCustomerAdvances`	$45.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$15.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	-	USD	1 Quarter
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$1.01M	USD	1 Quarter
Other payables and accrued expenses	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$27.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-278.00K	USD	1 Quarter
Other long-term liabilities	`IncreaseDecreaseInOtherNoncurrentLiabilities`	$-1.37M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-7.39M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$-3.18M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$115.00K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$395.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-116.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-395.00K	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromShortTermDebt`	$8.29M	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`	$5.08M	USD	1 Quarter
Proceeds from stock option exercise to common stock	`ProceedsFromStockOptionsExercised`	$62.00K	USD	1 Quarter
Proceeds from stock option exercise to common stock	`ProceedsFromStockOptionsExercised`	$60.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$3.26M	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`	$150.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$280.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$243.00K	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.50M	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`	$27.12M	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`	$27.37M	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`	$27.12M	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`	$27.37M	USD	Point-in-time
Interest paid	`InterestPaidNet`	$139.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$103.00K	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.86M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$55.64M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$43.00M	USD	Point-in-time
Beginning balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$52.32M	USD	Point-in-time
Net income	`NetIncomeLoss`	$1.86M	USD	1 Quarter
Net income	`NetIncomeLoss`	$-2.78M	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$657.00K	USD	1 Quarter
Foreign currency translation adjustment	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$705.00K	USD	1 Quarter
Exercise of stock option, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$64.00K	USD	1 Quarter
Exercise of stock option, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$60.00K	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.17M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$744.00K	USD	1 Quarter
Exercise of common stock warrant issued to SMC, amount	`StockIssuedDuringPeriodValueOther`	$2.98M	USD	1 Quarter
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$39.86M	USD	Point-in-time
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$55.64M	USD	Point-in-time
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$43.00M	USD	Point-in-time
Ending balance, amount	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$52.32M	USD	Point-in-time

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