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REVENUE FROM CONTRACTS WITH CUSTOMERS - Accounts Receivables and Contract Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 387,045	$ 283,186
Advances from customers	243,949	181,368
Deferred revenue	$ 8,537	$ 3,687

LONG-TERM INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Long-Term Investments [Abstract]

Long-Term Investments

Equity investee:

Initial investment dates

Investment entity

Percent ownership by ACM and subsidiaries

Investment purchase price

Ninebell Co., Ltd. ("Ninebell")

September 2017

ACM

20.0

1,200

Wooil Flucon Co., ("Wooil")

August 2022

ACM Singapore

20.0

1,000

Hefei Shixi Chanheng Integrated Circuit Industry Venture Capital Fund Partnership (LP) (“Hefei Shixi”)

September 2019

ACM Shanghai

10.0

RMB 30,000 ($4,200)

Shengyi Semiconductor Technology Co., Ltd. ("Shengyi")

June 2019

ACM Shanghai

14.0

109

Company D

February 2024

ACM Shanghai

16.67

RMB 30,000 ($4,230)

Investments accounted for using measurement alternative:

Waferworks (Shanghai) Co., Ltd. (“Waferworks”)

October 2021

ACM Shanghai

0.25

1,568,000

Shengyi

September 2023

ACM Shanghai

1.00

RMB 6,100 ($900)

Company A

September 2023

ACM Shanghai

4.37

RMB 30,000 ($4,230)

Company B

November 2023

ACM Shanghai

1.19

RMB 6,600 ($930)

Company C

February 2024

ACM Shanghai

5.04

RMB 12,500 ($1,760)

Company E

April 2024

ACM Shanghai

0.64

RMB 10,000 ($1,430)

Company F

December 2024

ACM Shanghai

16.67

RMB 10,000 ($1,391)

Company G

December 2024

ACM Shanghai

2.91

RMB 30,000 ($4,173)


	2024
Equity investee:	2024		2023
Ninebell	$	7,862	$	5,632
Wooil	936		1,003
Shengyi	2,775		1,693
Hefei Shixi	4,798		9,174
Company D	4,173		—
Subtotal	20,544		17,502
Investments accounted for using measurement alternative:
Waferworks	—		1,412
Shengyi	845		857
Company A	4,173		4,236
Company B	918		932
Company C	1,739		—
Company E	1,391		—
Company G	4,173		—
Other	696		2,941
Subtotal	13,935		10,378
Investments accounted for under available-for-sale debt securities
Company F	1,391		—
Other	1,193		—
Total	$	37,063	27,880

OTHER LONG-TERM LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities

Other long-term liabilities represent government subsidies received from mainland China governmental authorities for development and commercialization of certain technology but not yet recognized (note 2). As of December 31, 2024 and 2023, other long-term liabilities consisted of the following unearned government subsidies:


	December 31,
	2024		2023
Subsidies commenced in 2020 and prior	$	699	$	1,107
Subsidies to Lingang R&D development in 2021	7,350		3,467
Other	1,168		1,299
Total	$	9,217	$	5,873

INVENTORIES, NET

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

INVENTORIES, NET

At December 31, 2024 and 2023, inventories, net consisted of the following:


	December 31,
	2024		2023
Raw materials	$	224,086	$	235,062
Work-in-process	80,767		81,438
Finished goods	293,131		228,895
Total inventories, net	$	597,984	$	545,395

At December 31, 2024 and December 31, 2023, the value of finished goods inventory, which is comprised of first-tools at customer physical locations, for which customers were contractually obligated to take ownership upon acceptance, totaled $206,018 and $123,390, respectively.

The $11,646 decrease in raw materials and work-in-process inventory at December 31, 2024 compared to December 31, 2023 was due in part to an increased focus on cash efficiency despite a higher level of expected total shipments for the next 12-months. The $64,236 increase in finished goods inventory at December 31, 2024 compared to December 31, 2023 reflects a higher value of first-tools under evaluation by existing or prospective customers, partly offset by a lower value of completed tools at the Company's facilities.

The Company’s products each require a certain degree of customization, and the substantial majority of the work-in-process inventory and finished goods inventory is built to meet a specific customer order for repeat shipment or first tool delivery. At the end of each period, the Company assesses the status of each item in work-in-process and finished goods inventory. The Company recognizes a loss or impairment if in management’s judgement the inventory cannot be sold or used for production, if it has been damaged or should be considered as obsolete, or if the net realizable value is lower than the cost.

At the end of each period, the Company also assesses the status of its raw materials. The Company recognizes a loss or impairment for any raw materials aged more than three years. The three-year aging is based on the Company’s assessment of technology change, its requirement to maintain stock and other factors. For raw materials aged less than three years of age, the Company recognizes a specific loss or impairment if the Company determines the item does not have future use or is otherwise impaired.

During the years ended December 31, 2024, 2023, and 2022, provision for inventory of $3,100, $575, and $2,248 were recognized in cost of revenue, respectively.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 407,445	$ 182,090
Restricted cash	3,865	1,083
Short-term time deposits (note 2)	17,277	80,524
Short-term investments (note 14)	19,373	21,312
Account receivables, net (note 4)	387,045	283,186
Inventories, net (note 5)	597,984	545,395
Prepaid expenses	7,507	20,023
Total current assets	1,483,379	1,176,110
Property, plant and equipment, net (note 6)	269,272	201,848
Operating lease right-of-use assets, net (note 10)	14,038	15,393
Intangible assets, net	3,461	2,538
Long-term time deposits (note 2)	13,275	40,818
Deferred tax assets (note 18)	14,781	20,271
Long-term investments (note 13)	37,063	27,880
Other long-term assets (note 7)	20,452	6,050
Total assets	1,855,721	1,490,908
Current liabilities:
Short-term borrowings (note 8)	32,814	31,335
Current portion of long-term borrowings (note 11)	44,472	6,783
Advances from customers	243,949	181,368
Deferred revenue	8,537	3,687
Income taxes payable (note 18)	12,779	6,401
FIN-48 payable (note 18)	19,466	12,149
Other payables and accrued expenses (note 9)	121,657	102,951
Current portion of operating lease liabilities (note 10)	2,132	2,764
Total current liabilities	641,233	500,659
Long-term borrowings (note 11)	105,525	53,952
Long-term operating lease liabilities (note 10)	3,840	4,262
Other long-term liabilities (note 12)	9,217	5,873
Total liabilities	759,815	564,746
Commitments and contingencies (note 20)
Equity:
Additional paid-in capital	677,476	629,845
Retained earnings	260,000	156,827
Statutory surplus reserve (note 2)	30,514	30,060
Accumulated other comprehensive loss	(63,372)	(49,349)
Total ACM Research, Inc. stockholders’ equity	904,625	767,390
Total equity	1,095,906	926,162
Non-controlling interests	191,281	158,772
Total liabilities and equity	1,855,721	1,490,908
Nonrelated Party
Current assets:
Other receivables	41,859	40,065
Current liabilities:
Accounts payable	139,294	141,814
Related Party
Current assets:
Other receivables	1,024	2,432
Current liabilities:
Accounts payable	16,133	11,407
Class A Common Stock
Equity:
Common stock	6	6
Class B Common Stock
Equity:
Common stock	$ 1	$ 1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 131,269	$ 96,852	$ 50,564
Adjustments to reconcile net income from operations to net cash used in operating activities
Non-cash operating lease cost	3,815	3,580	2,816
Depreciation and amortization	9,967	8,092	5,366
Gain on disposals of property, plant and equipment	945	(2)	(12)
Realized gain on short-term investments	(1,788)	(9,047)	(1,116)
Income from equity method investments	(423)	(9,952)	(4,666)
Unrealized (gain) loss on short-term investments	(973)	2,737	7,855
Inventory provision	2,796	575	2,248
Provision for credit losses	13,517	2,741	0
Deferred income taxes	5,286	(13,647)	4,027
Stock-based compensation	49,576	27,338	7,730
Dividends from unconsolidated affiliates	1,529	0	0
Net changes in operating assets and liabilities:
Accounts receivable	(123,277)	(108,749)	(88,655)
Other receivables	(3,812)	(4,213)	(7,331)
Inventories	(64,135)	(164,027)	(195,562)
Advances to related party (note 15)	1,408	890	(939)
Prepaid expenses	11,911	(5,075)	(3,695)
Other long-term assets	0	0	3,986
Related party accounts payable (note 15)	4,726	(3,061)	6,569
Accounts payable	1,440	42,343	17,501
Advances from customers	67,050	29,974	104,258
Deferred revenue	4,850	2,693	994
Income taxes payable	6,424	3,009	3,236
FIN-48 payable	7,316	5,463	4,404
Other payables and accrued expenses	23,203	21,375	23,406
Operating lease liabilities	(3,514)	(3,580)	(2,816)
Other long-term liabilities	3,344	(1,632)	(2,362)
Net cash provided by (used in) operating activities	152,450	(75,323)	(62,194)
Cash flows from investing activities:
Purchase of property, plant and equipment	(82,463)	(61,876)	(91,094)
Purchase of intangible assets	(3,485)	(2,462)	(1,426)
Purchase of short-term investments (note 14)	(1,391)	(18,356)	0
Purchase of time deposits	(74,730)	(26,120)	(172,448)
Proceeds from maturity of time deposits	166,549	79,600	0
Proceeds from sale of short-term investments (note 14)	8,434	21,735	4,577
Purchase of long-term investments (note 13)	(24,873)	(7,508)	(5,279)
Proceeds from disposal of long-term investments	0	8,242	0
Net cash used in investing activities	(11,959)	(6,745)	(265,670)
Cash flows from financing activities:
Proceeds from short-term borrowings	33,265	31,334	56,004
Repayments of short-term borrowings	(32,297)	(55,068)	(9,224)
Proceeds from long-term borrowings	96,896	42,360	0
Repayments of long-term borrowings	(9,582)	(2,283)	(2,223)
ACM Shanghai dividends	(6,900)	(3,951)	0
Proceeds from exercise of stock options	11,099	6,138	1,314
Net cash provided by financing activities	92,481	18,530	45,871
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(4,835)	(1,740)	(32,623)
Net increase (decrease) in cash, cash equivalents and restricted cash	228,137	(65,278)	(314,616)
Cash, cash equivalents and restricted cash at beginning of period	183,173	248,451	563,067
Cash, cash equivalents and restricted cash at end of period	411,310	183,173	248,451
Supplemental disclosure of cash flow information:
Interest paid, net of capitalized interest	4,151	2,681	1,655
Cash paid for income taxes	11,216	26,103	3,586
Prepayment for purchase of long-term investment	16,736	0	0
Purchase of intangible assets included in other long-term assets	641	0	0
Reconciliation of cash, cash equivalents and restricted cash in consolidated statements of cash flows:
Cash and cash equivalents	407,445	182,090	247,951
Restricted cash	3,865	1,083	500
Cash, cash equivalents and restricted cash	411,310	183,173	248,451
Non-cash financing activities:
Cashless exercise of stock options	483	333	221
Non-cash investing activities:
Transfer from inventory to property, plant and equipment	0	4,379	0
Transfer from property, plant and equipment to inventory	918	0	0
Purchase property, plant and equipment through other payable and accrued expenses	29,126	33,750	0
Purchase long-term investments through other payable and accrued expenses	4,729	0	0
Transfer of prepayment for property to property, plant and equipment	$ 3,348	$ 0	$ 41,497

Insider Trading Arrangements	3 Months Ended	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2024 shares	Dec. 31, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Chenming Hu [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 11, 2024, Chenming Hu, a member of the Board of Directors of ACM Research, adopted a Rule 10b5-1 trading arrangement (the “Hu Plan”) that is intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act. The Hu Plan allows for the contemporaneous exercise of options and sale of up to 326,310 shares of Class A Common Stock, at specific market prices, commencing on March 17, 2025, and continuing until (i) all such options are exercised and the underlying shares are sold, (ii) December 11, 2026, or (iii) such date that the Hu Plan is otherwise terminated according to its terms, whichever comes first.
Name	Chenming Hu
Title	a member of the Board of Directors of ACM Research
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 11, 2024
Expiration Date	December 11, 2026
Arrangement Duration	730 days
Aggregate Available	326,310	326,310
David Wang [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 29, 2024, David Wang, President, Chief Executive Officer and a member of the Board of Directors of ACM Research, adopted a Rule 10b5-1 trading arrangement (the “Wang Plan”) that is intended to satisfy the affirmative defense of Rule 10b5-1(c) of the Exchange Act. The Wang Plan allows for the contemporaneous exercise of options and sale of up to 600,002 shares of Class A Common Stock, at specific market prices, commencing on May 21, 2025, and continuing until (i) all such options are exercised and the underlying shares are sold, (ii) November 27, 2026, or (iii) such date that the Wang Plan is otherwise terminated according to its terms, whichever comes first.
Name	David Wang
Title	President, Chief Executive Officer and a member of the Board of Directors of ACM Research
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	November 29, 2024
Expiration Date	November 27, 2026
Arrangement Duration	728 days
Aggregate Available	600,002	600,002

INVENTORIES, NET (Details) - USD ($) $ in Thousands	12 Months Ended
INVENTORIES, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Inventory [Abstract]
Raw materials	$ 224,086	$ 235,062
Work-in-process	80,767	81,438
Finished goods	293,131	228,895
Total inventories, net	597,984	545,395
Decrease in raw materials and work in process	11,646
Increase in finished goods	$ 64,236
Period in which raw materials are considered impaired	3 years
Inventory write-down	$ 3,100	575	$ 2,248
First-Tools, Customer Ownership
Inventory [Abstract]
Finished goods	$ 206,018	$ 123,390

OTHER LONG-TERM LIABILITIES

12 Months Ended

Dec. 31, 2024

Other Liabilities Disclosure [Abstract]

OTHER LONG-TERM LIABILITIES

THER LONG-TERM LIABILITIES


	December 31,
	2024		2023
Subsidies commenced in 2020 and prior	$	699	$	1,107
Subsidies to Lingang R&D development in 2021	7,350		3,467
Other	1,168		1,299
Total	$	9,217	$	5,873

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Net cash provided by (used in) operating activities	$ 152,450	$ (75,323)	$ (62,194)
Net cash used in investing activities	(11,959)	(6,745)	(265,670)
Net cash provided by financing activities	92,481	18,530	45,871
Net increase (decrease) in cash, cash equivalents and restricted cash	228,137	(65,278)	(314,616)
Cash, cash equivalents and restricted cash at beginning of period	183,173	248,451	563,067
Cash, cash equivalents and restricted cash at end of period	411,310	183,173	248,451
Parent Company
Statement of Cash Flows [Abstract]
Net cash provided by (used in) operating activities	15,285	1,489	(5,997)
Net cash used in investing activities	(7,889)	(149)	(1,000)
Net cash provided by financing activities	5,752	16,423	1,314
Net increase (decrease) in cash, cash equivalents and restricted cash	13,148	17,763	(5,683)
Cash, cash equivalents and restricted cash at beginning of period	41,616	23,853	29,536
Cash, cash equivalents and restricted cash at end of period	$ 54,764	$ 41,616	$ 23,853

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable [Abstract]
Cumulative effect of change in accounting principle under ASC 326, before tax, as of January 1, 2023	$ 18,347	$ 4,830	$ 0

COMMON STOCK (Details) - $ / shares	12 Months Ended
COMMON STOCK (Details) - $ / shares	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Common Stock Class A
Class of Stock Disclosures [Abstract]
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Number of votes for each share entitled	1
Common stock, shares issued (in shares)	57,938,885	56,036,172
Common stock, shares outstanding (in shares)	57,938,885	56,036,172
Class B Common Stock
Class of Stock Disclosures [Abstract]
Common stock, shares authorized (in shares)	5,307,816	5,307,816
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Number of votes for each share entitled	20
Conversion of stock, converted (in shares)	1
Common stock, shares issued (in shares)	5,021,811	5,021,811
Common stock, shares outstanding (in shares)	5,021,811	5,021,811
Common Stock \| Common Stock Class A
Class of Stock Disclosures [Abstract]
Exercise of stock options (in shares)	1,902,713	1,380,886	980,354
Conversion of class B common shares to Class A common shares (in shares)	0	0	66,003
Common stock, shares outstanding (in shares)	57,938,885	56,036,172	54,655,286	53,608,929
Common Stock \| Class B Common Stock
Class of Stock Disclosures [Abstract]
Conversion of class B common shares to Class A common shares (in shares)			(66,003)
Common stock, shares outstanding (in shares)	5,021,811	5,021,811	5,021,811	5,087,814

LONG-TERM BORROWINGS - Summary of Long Term Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Long-term debt	$ 149,997	$ 60,735
Less: Current portion	(44,472)	(6,783)
Long-term borrowings (note 11)	105,525	53,952
Loan from China Merchants Bank
Line of Credit Facility [Line Items]
Long-term debt	11,475	13,362
Loan from Agricultural Bank of China
Line of Credit Facility [Line Items]
Long-term debt	13,020	0
Loans from Bank of China
Line of Credit Facility [Line Items]
Long-term debt	28,258	5,013
Loan from Bank of Shanghai
Line of Credit Facility [Line Items]
Long-term debt	13,920	14,120
Loans from China CITIC Bank
Line of Credit Facility [Line Items]
Long-term debt	27,775	28,240
Loan from China Everbright Bank
Line of Credit Facility [Line Items]
Long-term debt	$ 55,549	$ 0

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 103,627	$ 77,349	$ 39,263

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-URI https://asc.fasb.org/1943274/2147479168/946-830-55-10

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
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-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section S99
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-Subparagraph (SX 210.13-01(a)(5))
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Section S99
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.13-02(a)(5))
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

LEASES - Narrative (Details)	12 Months Ended
LEASES - Narrative (Details)	Dec. 31, 2024 renewalOption
Leases [Abstract]
Number of renewal options	1
Lease term	50 years

INCOME TAXES - Summary of Income Before Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
U.S	$ 21,282	$ 10,420	$ (3,456)
Foreign	145,018	105,796	70,818
Income before income taxes	$ 166,300	$ 116,216	$ 67,362

- Definition

Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.

+ References + Details

PROPERTY, PLANT AND EQUIPMENT, NET - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 6,573	$ 6,912	$ 4,839
Total cost	196,238	112,911
Buildings and plants
Property, Plant and Equipment [Line Items]
Total cost	141,410	83,109
ACM Lingang \| Buildings and plants
Property, Plant and Equipment [Line Items]
Total cost	34,740	35,264
ACM Lingang \| Development And Production Center
Property, Plant and Equipment [Line Items]
Total cost	49,693
ACM Shanghai \| Development And Production Center
Property, Plant and Equipment [Line Items]
Total cost		47,845
ACM Shanghai \| Corporate Headquarters
Property, Plant and Equipment [Line Items]
Total cost	49,221
ACM Oregon \| Facilities
Property, Plant and Equipment [Line Items]
Total cost	$ 7,756	$ 0

SHORT-TERM INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Components of Short-Term Investments

The components of short-term investments were as follows:


	December 31,
	2024		2023
Short-term investments listed in Shanghai Stock Exchange
Cost	$	17,731	$	20,155
Market value	$	19,373	$	21,312

Unrealized Gain (Loss) on Investments

For the years ended December 31, 2024, 2023 and 2022, the net gains (losses) recognized on equity securities were as follows:


	Year ended December 31
	2024		2023		2022
Unrealized gains (losses) recognized during the reporting period on short-term investment still held at December 31	$	973	$	(2,737)	$	(7,855)
Net realized gains on short-term investment sold during the period	1,788		9,047		1,116
Total net gains (losses) recognized at December 31 on short-term investment	$	2,761	$	6,310	$	(6,739)

REVENUE FROM CONTRACTS WITH CUSTOMERS - Revenues Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue recognized from amounts included in contract liabilities at the beginning of the year	$ 124,069	$ 97,370	$ 30,385

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Basic and Diluted Net Income per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator [Abstract]
Net income	$ 131,269	$ 96,852	$ 50,564
Less: Net income attributable to non-controlling interests	27,642	19,503	11,301
Net income available to common stockholders, basic	103,627	77,349	39,263
Less: Dilutive effect arising from stock-based awards by ACM Shanghai	2,227	1,841	584
Net income available to common stockholders, diluted	$ 101,400	$ 75,508	$ 38,679
Weighted average shares outstanding, basic (in shares)	62,212,569	60,164,670	59,235,975
Effect of dilutive securities (in shares)	4,024,855	4,705,873	6,105,796
Weighted average shares outstanding, diluted (in shares)	66,237,424	64,870,543	65,341,771
Net income per share of common stock:
Basic (in dollars per share)	$ 1.67	$ 1.29	$ 0.66
Diluted (in dollars per share)	$ 1.53	$ 1.16	$ 0.59
Antidilutive securities excluded from computation of earnings per share, amount	1,511,335	3,651,337	1,795,340

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands, ¥ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Contractual obligation	$ 6,391
Damages awarded	$ 63,400	¥ 450.0
Land use rights period	6 years	6 years
Annual total taxes	$ 22,000	¥ 157.6
Investments	$ 156,205		$ 116,932

- Definition

Amount of real estate investments, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; (7) other real estate investments; (8) real estate joint ventures; and (9) unconsolidated real estate and other joint ventures not separately presented.

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash, cash equivalents and restricted cash and time deposits	$ 407,445	$ 182,090
Short-term and long-term time deposits	30,552	121,342
ACM Shanghai
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash payments for procurement of goods and services	21,300	42,500	$ 30,200
Payments of ordinary dividends, common stock	28,480	19,200	$ 0
United States
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash, cash equivalents and restricted cash and time deposits	56,308	43,614
Mainland China
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash, cash equivalents and restricted cash and time deposits	94,701	70,418
China Hong Kong
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash, cash equivalents and restricted cash and time deposits	255,853	64,057
Korea
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash, cash equivalents and restricted cash and time deposits	516	3,934
Singapore
Cash and Cash Equivalents, at Carrying Value [Abstract]
Cash, cash equivalents and restricted cash and time deposits	$ 67	$ 67

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Employee Benefit Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Defined contribution plan, cost	$ 15,312	$ 11,618	$ 7,816

REVENUE FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

The Company assesses revenues based upon the nature or type of goods or services it provides and the geographic location of the customer facility. The following tables present disaggregated revenue information:


	Year Ended December 31,
	2024		2023		2022
Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment	$	578,887	$	403,851	$	272,939
ECP (front-end and packaging), Furnace and Other Technologies	151,057		103,356		77,482
Advanced Packaging (excluding ECP), Services & Spares	52,174		50,516		38,411
Total Revenue By Product Category	$	782,118	$	557,723	$	388,832


	Year Ended December 31,
	2024		2023		2022
Mainland China	$	775,752	$	540,969	$	377,752
Other regions	6,366		16,754		11,080
	$	782,118	$	557,723	$	388,832

Below are the accounts receivables and contract liabilities balances as of:


	December 31, 2024		December 31, 2023

Accounts receivable	$	387,045	$	283,186
Advances from customers	243,949		181,368
Deferred revenue	8,537		3,687

During the year ended December 31, 2024, advances from customers increased by $62,581 primarily due to a net increase of payments made by customers for first tools under evaluation.

Below are revenues recognized from amounts included in contract liabilities at the beginning of the year:


	Year Ended December 31,
	2024		2023		2022
Revenue recognized from amounts included in contract liabilities at the beginning of the year	$	124,069	$	97,370	$	30,385

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Restricted Net Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Statutory surplus reserve (note 2)	$ 30,514	$ 30,060

LONG-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2024

Long-Term Investments [Abstract]

LONG-TERM INVESTMENTS

On September 6, 2017, ACM and Ninebell Co., Ltd. (“Ninebell”), a Korean company that is one of the Company’s principal material suppliers, entered into an ordinary share purchase agreement, effective as of September 11, 2017,

pursuant to which Ninebell issued to ACM ordinary shares representing 20% of Ninebell’s post-closing equity for a purchase price of $1,200, and a common stock purchase agreement, effective as of September 11, 2017, pursuant to which ACM issued 400,002 shares of Class A common stock to Ninebell for a purchase price of $1,000 at $2.50 per share. The investment in Ninebell is accounted for under the equity method.

On June 27, 2019, ACM Shanghai and Shengyi Semiconductor Technology Co., Ltd. (“Shengyi”), a company based in Wuxi, China that is one of the Company’s component suppliers, entered into an agreement pursuant to which Shengyi issued to ACM Shanghai shares representing 14% of Shengyi’s post-closing equity for a purchase price of $109. The investment in Shengyi is accounted for under the equity method. In September 2023, the Company invested additional RMB 6,100 ($900) to Shengyi. As the additional investment is not in substance common stock, the Company measures the additional investment in Shengyi at measurement alternative.

On September 5, 2019, ACM Shanghai entered into a Partnership Agreement with six other investors, as limited partners, and Beijing Shixi Qingliu Investment Co., Ltd., as general partner and manager, with respect to the formation of Hefei Shixi Chanheng Integrated Circuit Industry Venture Capital Fund Partnership (LP), a Chinese limited partnership based in Hefei, China. Pursuant to such Partnership Agreement, on September 30, 2019, ACM Shanghai invested RMB 30,000 ($4,200), which represented 10% of the partnership’s total subscribed capital. The investment in Hefei Shixi Chanheng Integrated Circuit Industry Venture Capital Fund Partnership (LP) is accounted for under the equity method in accordance with ASC 323-30-S99-1.

On October 29, 2021, ACM Shanghai and Waferworks (Shanghai) Co., Ltd, or Waferworks, a company based in Shanghai, China, and one of the Company’s customers, entered into an agreement pursuant to which Waferworks issued to ACM Shanghai shares representing 0.25% of Waferworks’ post-closing equity for a purchase price of $1,568. As the investment is not in substance common stock and there is no readily determinable fair value, the Company measures the investment in Waferworks at measurement alternative.

On August 17, 2022, ACM Singapore and Wooil Flucon Co., Ltd. (“Wooil”), a company based in Korea and a potential component supplier to the Company, entered into an agreement pursuant to which Wooil, on September 1, 2022, issued to ACM Singapore shares representing 20% of Wooil’s post-closing equity for a purchase price of $1,000. The investment in Wooil is accounted for under the equity method.

On September 25, 2023, ACM Shanghai entered into a partnership agreement with Company A to invest RMB 30,000 ($4,230), which represented 4.37% of the partnership's total subscribed capital. Since there is no readily determinable fair value, the Company measures the investments at measurement alternative.

On November 1, 2023, ACM Shanghai entered into a partnership agreement with Company B to invest RMB 6,600 ($930), which represented 1.19% of the partnership's total subscribed capital. Since there is no readily determinable fair value, the Company measures the investments at measurement alternative. As of December 31, 2024, Company B issued additional shares to investors and ACM Shanghai’s ownership declined to 1.19%.

On January 12, 2024, ACM Shanghai entered into an investment agreement with Company C to invest RMB 12,500 ($1,760), which represented 5.04% of the Company C's total equity interest. Since there is no readily determinable fair value, the Company measures the investments at measurement alternative.

On January 19, 2024, ACM Shanghai entered into a limited partnership agreement with Company D to invest RMB 30,000 ($4,230), which represented 16.67% of the partnership's total equity interest. The investment in the limited partnership with Company D is accounted for under the equity method in accordance with ASC323-30-S99-1. As of December 31, 2024, Company D issued additional shares to investors and ACM Shanghai’s ownership declined to 14.28%.

On January 22, 2024, ACM Shanghai entered into an investment agreement with Company E to invest RMB 10,000 ($1,430) which represented 0.64% of the Company E's total equity interest. The transaction was closed in April 2024. Since there is no readily determinable fair value, the Company measures the investments at measurement alternative.

On April 22, 2024, ACM Shanghai entered into an investment agreement with Ninebell to invest $16,737 which represented 20% of Ninebell’s total equity interest. As of December 31, 2024, ACM Shanghai pre-paid the consideration of $16,737 to Ninebell, which is recorded in other long-term assets (note 7) in the consolidated balance sheets. The share certification was issued in January 2025. After the share purchase transaction is closed, the Company owns 36.4% of Ninebell.

On December 30, 2024, ACM Shanghai entered into a limited partnership agreement with Company F to invest RMB 10,000 ($1,391), which represented 16.67% of Company F's total equity interest. The equity interest is redeemable at the option of ACM Shanghai if Company F failed to consummate a qualified IPO within a certain period. ACM Shanghai made the first installment payment of RMB 3,000 ($417) on December 30, 2024 and the remaining RMB 7,000 ($974) will be paid on or before December 31, 2026. As agreed by investment agreement, the Company obtained the entire 16.67% equity interest on the settlement of the first installment. Company F is a privately held company and the Company classified the investment as available-for-sale debt securities as the equity interest is redeemable.

On December 30, 2024, ACM Shanghai entered into an investment agreement with Company G to invest RMB 30,000 ($4,173), which represented 2.91% of Company G's total equity interest. ACM Shanghai made the first installment payment of RMB 3,000 ($417) on December 30, 2024 and the remaining RMB 27,000 ($3,756) will be paid on or before June 30, 2026. As agreed by investment agreement, the Company obtained the entire 2.91% ownership when the equity transaction was approved by the shareholders’ meeting, and the share certification was issued upon the settlement of the first installment. Since there is no readily determinable fair value, the Company measures the investments at measurement alternative.

Equity investee:

Initial investment dates

Investment entity

Percent ownership by ACM and subsidiaries

Investment purchase price

Ninebell Co., Ltd. ("Ninebell")

September 2017

ACM

20.0

1,200

Wooil Flucon Co., ("Wooil")

August 2022

ACM Singapore

20.0

1,000

Hefei Shixi Chanheng Integrated Circuit Industry Venture Capital Fund Partnership (LP) (“Hefei Shixi”)

September 2019

ACM Shanghai

10.0

RMB 30,000 ($4,200)

Shengyi Semiconductor Technology Co., Ltd. ("Shengyi")

June 2019

ACM Shanghai

14.0

109

Company D

February 2024

ACM Shanghai

16.67

RMB 30,000 ($4,230)

Investments accounted for using measurement alternative:

Waferworks (Shanghai) Co., Ltd. (“Waferworks”)

October 2021

ACM Shanghai

0.25

1,568,000

Shengyi

September 2023

ACM Shanghai

1.00

RMB 6,100 ($900)

Company A

September 2023

ACM Shanghai

4.37

RMB 30,000 ($4,230)

Company B

November 2023

ACM Shanghai

1.19

RMB 6,600 ($930)

Company C

February 2024

ACM Shanghai

5.04

RMB 12,500 ($1,760)

Company E

April 2024

ACM Shanghai

0.64

RMB 10,000 ($1,430)

Company F

December 2024

ACM Shanghai

16.67

RMB 10,000 ($1,391)

Company G

December 2024

ACM Shanghai

2.91

RMB 30,000 ($4,173)


	2024
Equity investee:	2024		2023
Ninebell	$	7,862	$	5,632
Wooil	936		1,003
Shengyi	2,775		1,693
Hefei Shixi	4,798		9,174
Company D	4,173		—
Subtotal	20,544		17,502
Investments accounted for using measurement alternative:
Waferworks	—		1,412
Shengyi	845		857
Company A	4,173		4,236
Company B	918		932
Company C	1,739		—
Company E	1,391		—
Company G	4,173		—
Other	696		2,941
Subtotal	13,935		10,378
Investments accounted for under available-for-sale debt securities
Company F	1,391		—
Other	1,193		—
Total	$	37,063	27,880

The Company recognized $423, $9,952, and $4,666 share of equity investees’ net income which amounts were included in income (loss) from equity method investments in the accompanying consolidated statements of comprehensive income (loss) for the years ended December 31, 2024, 2023, and 2022, respectively. For the years ended December 31, 2024, 2023, and 2022, the Company received $1,401, nil, and nil dividends from equity investee, respectively.

Consolidated Statement of Changes in Stockholders' Equity ¥ in Thousands, $ in Thousands	USD ($)	CNY (¥)	Cumulative Effect, Period of Adoption, Adjustment USD ($)	Common Stock Class A shares	Common Stock Class B shares	Common Stock Common Stock Class A USD ($) shares	Common Stock Common Stock Class B USD ($) shares	Additional Paid- in Capital USD ($)	Retained Earnings USD ($)	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment USD ($)	Statutory Surplus Reserve USD ($)	Accumulated Other Comprehensive Income (Loss) USD ($)	Accumulated Other Comprehensive Income (Loss) CNY (¥)	Non-controlling Interests USD ($)	Non-controlling Interests CNY (¥)
Beginning balance (in shares) at Dec. 31, 2021 \| shares						53,608,929	5,087,814
Beginning balance at Dec. 31, 2021	$ 811,665					$ 5	$ 1	$ 595,045	$ 63,732		$ 8,312	$ 9,109		$ 135,461
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	50,564								39,263					11,301
Appropriation to statutory surplus reserves	0								(8,569)		8,569
Foreign currency translation adjustment	(59,102)											(49,655)		(9,447)
Exercise of stock options (in shares) \| shares						980,354
Exercise of stock options	1,314							1,314
Stock-based compensation	7,730							7,730
Conversion of class B common shares to Class A common shares (in shares) \| shares						66,003	(66,003)
Unrealized gain on available-for-sale investments	0
Ending balance (in shares) at Dec. 31, 2022 \| shares						54,655,286	5,021,811
Ending balance at Dec. 31, 2022	$ 812,171		$ (1,769)			$ 5	$ 1	604,089	94,426	$ (1,769)	16,881	(40,546)		137,315
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]	Accounting Standards Update 2016-13 [Member]
Net income	$ 96,852								77,349					19,503
Appropriation to statutory surplus reserves	0								(13,179)		13,179
Foreign currency translation adjustment	(10,617)											(8,803)		(1,814)
Exercise of stock options (in shares) \| shares						1,380,886
Exercise of stock options	6,138							2,303						3,834
Stock-based compensation	27,338					$ 1		23,453						3,885
Conversion of class B common shares to Class A common shares (in shares) \| shares						0
ACM Shanghai dividends	(3,951)													(3,951)
Unrealized gain on available-for-sale investments	0
Ending balance (in shares) at Dec. 31, 2023 \| shares				56,036,172	5,021,811	56,036,172	5,021,811
Ending balance at Dec. 31, 2023	926,162					$ 6	$ 1	629,845	156,827		30,060	(49,349)		158,772
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	131,269								103,627					27,642
Appropriation to statutory surplus reserves	0								(454)		454
Foreign currency translation adjustment	(15,728)											(14,373)		(1,355)
Exercise of stock options (in shares) \| shares						1,902,713
Exercise of stock options	11,099							5,990						5,109
Stock-based compensation	49,576							41,641						7,935
Conversion of class B common shares to Class A common shares (in shares) \| shares						0
ACM Shanghai dividends	(6,900)													(6,900)
Unrealized gain on available-for-sale investments	428	¥ 428											¥ 350		¥ 78
Ending balance (in shares) at Dec. 31, 2024 \| shares				57,938,885	5,021,811	57,938,885	5,021,811
Ending balance at Dec. 31, 2024	$ 1,095,906					$ 6	$ 1	$ 677,476	$ 260,000		$ 30,514	$ (63,372)		$ 191,281

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 3,815	$ 3,580	$ 2,816
Short-term lease cost	1,790	923	786
Lease cost	$ 5,605	$ 4,503	$ 3,602

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

ACM’s stock-based compensation consists of employee and non-employee awards issued under its 1998 Stock Option Plan and its 2016 Omnibus Incentive Plan. The vesting condition may consist of service period condition or certain performance conditions, as determined by the Board of Directors. The fair value of the stock options granted with a service period based condition and/or performance condition is estimated at the date of grant using the Black-Scholes option pricing model. The fair value of the stock options granted with a market based condition is estimated at the date of grant using the Monte Carlo simulation model.

Employee Awards

The following table summarizes the ACM’s employee share option activities:


	Number of Option Shares	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2021	8,402,247	$	2.45	$	5.88	6.53 years
Granted	1,653,300	10.31		22.41
Exercised	(416,546)	1.20		2.97
Forfeited/cancelled	(427,360)	11.41		25.24
Outstanding at December 31, 2022	9,211,641	$	3.58	$	8.24	6.36 years
Granted	2,230,500	10.38		13.91
Exercised	(1,080,952)	0.90		2.28
Forfeited/cancelled	(362,552)	11.24		22.92
Outstanding at December 31, 2023	9,998,637	$	5.15	$	9.47	6.17 years
Granted	461,000	15.31		20.69
Exercised	(1,523,619)	1.91		4.10
Forfeited/cancelled	(84,423)	11.47		24.29
Outstanding at December 31, 2024	8,851,595	$	6.18	$	10.84	5.81 years
Vested and exercisable at December 31, 2024	5,528,459	$	4.73	$	9.23	4.81 years

As of December 31, 2024, $23,133 of total unrecognized employee stock-based compensation expense, net of estimated forfeitures, related to stock-based awards for ACM was expected to be recognized over a weighted-average period of 3.30 years. Total recognized compensation cost may be adjusted for future changes in estimated forfeitures.

The aggregate intrinsic value of options exercised in the years ended December 31, 2024, 2023 and 2022 was $35,675, $15,457, and $6,429 respectively. The aggregate intrinsic value of options outstanding and exercisable as of December 31, 2024 were $53,004 and $42,841, respectively.

The aggregate fair value of the share-based awards vested during the years ended December 31, 2024, 2023 and 2022 were $26,137, $18,378 and $13,137, respectively.

The fair value of options granted to employees is estimated on the grant date using the Black-Scholes valuation model with the following assumptions:


	Year ended December 31,
	2024		2023		2022
Fair value of common stock(1)	$18.67-$31.92		$11.85-$17.23		$16.83-$25.45
Expected term in years(2)	5.50-6.25		5.50-6.25		5.50-6.25
Volatility(3)	83.85-85.48%		84.95-86.45%		49.43-50.87%
Risk-free interest rate(4)	3.80-4.49%		4.16-4.69%		1.70-3.04%
Expected dividend(5)	0	%	0	%	0	%

(1)Fair value of Class A common stock value was the closing market price of the Class A common stock on the grant date.

(2)Expected term of share options is based on the average of the vesting period and the contractual term for each grant.

(3)Volatility is calculated based on the historical volatility of ACM in the period equal to the expected term of each grant.

(4)Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant.

(5)Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock.

Non-employee Award

The following table summarizes the ACM's non-employee share option activities:


	Number of Option Shares (1)	Weighted Average Grant Date Fair Value (1)		Weighted Average Exercise Price (1)		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2021	2,067,018	$	0.33	$	0.97	3.98 years
Exercised	(563,808)	0.21		0.51
Forfeited/cancelled	(19,552)	0.21		0.48
Outstanding at December 31, 2022	1,483,658	0.38		1.15		3.68 years
Exercised	(299,934)	0.24		0.55
Forfeited/cancelled	(12,929)	0.22		0.50
Outstanding at December 31, 2023	1,170,795	$	0.42	$	1.31	2.66 years
Exercised	(379,094)	0.22		0.57
Forfeited/cancelled	(7,569)	0.22		0.50
Outstanding at December 31, 2024	784,132	$	0.52	$	1.68	2.12 years
Vested and exercisable at December 31, 2024	784,132	$	0.52	$	1.68	2.12 years

As of December 31, 2024, all of the non-employee share options were fully-vested. The aggregate intrinsic value of options exercised in the years ended December 31, 2024, 2023 and 2022 was $7,901, $3,796 and $9,110, respectively. The aggregate intrinsic value of options outstanding and exercisable as of December 31, 2024 were $10,523 and $10,523, respectively.

The aggregate fair value of the share-based awards vested during the years ended December 31, 2024, 2023 and 2022 were $408, $479, and $501, respectively.

ACM Shanghai 2019 Option Grants

In January 2020, ACM Shanghai adopted a 2019 Stock Option Incentive Plan (the “2019 Subsidiary Stock Option Plan”) that provides for, among other incentives, the granting to officers, directors, employees of options to purchase shares of ACM Shanghai’s common stock. The vesting conditions consist of service periods conditions and performance conditions related to certain earning targets determined by the Board of Directors of ACM Shanghai.

The following table summarizes the ACM Shanghai employee stock option activities:


	Number of Option Shares in ACM Shanghai		Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2021	5,377,500		$	0.24	$	2.04	2.50 years
Forfeited/cancelled	—		—		—
Outstanding at December 31, 2022	5,377,500		$	0.23	$	1.93	1.76 years
Exercised	(2,150,309)		0.20		1.85
Forfeited/cancelled	(92,308)		0.22		1.85
Outstanding at December 31, 2023	3,134,883		$	0.24	$	1.85	0.85 years
Exercised	(3,033,344)		0.20		1.83
Forfeited/cancelled	(101,539)		0.20		1.83
Outstanding at December 31, 2024	$	—	$	—	$	—	0.00 years
Vested and exercisable at December 31, 2024	$	—	$	—	$	—	0.00 years

The aggregate intrinsic value of options exercised in the years ended December 31, 2024 and 2023 and 2022 was $25,946, $31,144 and nil, respectively. There were nil options outstanding and exercisable as of December 31, 2024.

The aggregate fair value of the share-based awards vested during the years ended December 31, 2024, 2023, and 2022 were nil, $99, and $568, respectively.

ACM Shanghai 2023 Option Grants

In June 2023, ACM Shanghai adopted a 2023 Stock Option Incentive Plan ( the "2023 Subsidiary Stock Option Plan”) that provides for, among other incentives, the granting to officers, directors, employees of options to purchase shares of ACM Shanghai’s common stock. The vesting conditions consist of service periods conditions and performance conditions related to certain sales and research and development progress targets determined by the Board of Directors of ACM Shanghai.

The following table summarizes the ACM Shanghai 2023 Subsidiary Stock Option Plan’s stock option activities:


	Number of Option Shares in ACM Shanghai	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2022	—	$	—	$	—	0.00 years
Granted	10,648,500	9.49		7.06
Forfeited/cancelled	(73,000)	9.49		7.06
Outstanding at December 31, 2023	10,575,500	$	9.49	$	7.06	3.09 years
Granted	1,391,000	6.04		7.00
Forfeited/cancelled	(362,190)	9.08		7.00
Outstanding at December 31, 2024	11,604,310	$	9.01	$	7.00	2.48 years
Vested and exercisable at December 31, 2024	2,559,435	$	8.50	$	6.99	0.59 years

The fair value of options granted to employees is estimated on the grant date using the Black-Scholes valuation with following assumptions:


			Year Ended December 31, 2024			Year Ended December 31, 2023


Fair value of common stock(1)	$4.93-$6.89		$14.87
Expected term in years(2)	1.5-4.5		1.5-4.5
Volatility(3)	45.92%-56.18%		60.00%-60.60%
Risk-free interest rate(4)	1.50%-2.75%		1.50%-2.75%
Expected dividend (5)	—	%	—	%

(1) Equal to closing value on the grant date.

(2) Expected term of share options is based on the average of the vesting period and the contractual term for each grant.

(3) Volatility is calculated based on the historical volatility of ACM in the period equal to the expected term of each grant.

(4) Risk-free interest rate is based on the yields of RMB deposit in mainland China with maturities similar to the expected term of the share options in effect at the time of grant.

(5) Expected dividend is assumed to be 0% as the impact is adjusted on the value of share of common stock.

The aggregate intrinsic value of options exercised in the years ended December 31, 2024 and 2023 was $20,712 and nil, respectively. The aggregate intrinsic value of options outstanding as of December 31, 2024 and 2023 was $62,244 and $81,981, respectively.

As of December 31, 2024, $40,490 of total unrecognized employee stock-based compensation expense, net of estimated forfeitures, related to ACM Shanghai stock-based awards were expected to be recognized over a weighted-average period of 1.5 years. Total recognized compensation cost may be adjusted for future changes in estimated forfeitures.

The aggregate fair value of the share-based awards vested during the years ended December 31, 2024, 2023 and 2022 were $21,748, nil, and nil, respectively.

The following table summarizes the components of stock-based compensation expense included in the consolidated statements of comprehensive income (loss):


	Year Ended December 31,
	2024		2023		2022
Stock-Based Compensation Expense:
Cost of revenue	$	2,385	$	1,406	$	520
Sales and marketing expense	10,552		5,684		1,877
Research and development expense	14,112		8,459		2,565
General and administrative expense	22,527		11,789		2,768
	$	49,576	$	27,338	$	7,730


	Year Ended December 31,
	2024		2023		2022
Stock-based compensation expense by type:
Employee stock option plan	$	10,469	$	6,213	$	7,346
Non-employee stock option plan	30		46		46
2019 and 2023 Subsidiary stock option plans	39,077		21,079		338
	$	49,576	$	27,338	$	7,730

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cost of revenue, related party	$ 390,564	$ 281,508	$ 205,217
Related Party
Cost of revenue, related party	$ 39,313	$ 31,240	$ 26,313

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

OTHER PAYABLES AND ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

OTHER PAYABLES AND ACCRUED EXPENSES

At December 31, 2024 and 2023, other payables and accrued expenses consisted of the following:


	December 31,
	2024		2023
Accrued commissions	$	20,180	$	15,572
Accrued warranty	12,710		9,834
Accrued payroll	21,677		14,840
Accrued professional fees	896		696
Accrued machine testing fees	1,082		1,762
Accrued machine sales fees	8,840		6,010
Individual income tax payable	11,975		12,156
Accrued Lingang construction fees	28,103		33,729
Payments for investments	4,729		—
Others	11,465		8,352
Total	$	121,657	$	102,951

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant and Equipment, Net (Details)	Dec. 31, 2024
Buildings and plants
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	30 years
Furniture and fixtures
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	5 years
Minimum \| Computer and office equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	3 years
Minimum \| Electronic equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	3 years
Minimum \| Manufacturing equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	5 years
Minimum \| Transportation equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	4 years
Maximum \| Computer and office equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	5 years
Maximum \| Electronic equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	5 years
Maximum \| Manufacturing equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	10 years
Maximum \| Transportation equipment
Property, Plant and Equipment, Net [Abstract]
Estimated useful lives	5 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Statutory Surplus Reserve (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Statutory surplus reserve (note 2)	$ 30,514	$ 30,060
ACM Research (Shanghai), Inc. ("ACM Shanghai")
Accumulated Other Comprehensive Income (Loss) [Line Items]
Statutory surplus reserve (note 2)	30,514	$ 30,060
Mainland China Subsidiaries
Accumulated Other Comprehensive Income (Loss) [Line Items]
Statutory surplus reserve (note 2)	$ 686,874

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows:


	Year Ended December 31,
	2024		2023		2022
Operating lease cost	$	3,815	$	3,580	$	2,816
Short-term lease cost	1,790		923		786
Lease cost	$	5,605	$	4,503	$	3,602

Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases was as follows for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024		2023		2022
Operating cash outflow from operating leases	$	3,647	$	3,580	$	2,816


Operating lease right-of-use assets obtained in exchange for new operating lease liabilities			$	1,781					$	8,195					$	1,054

Maturities of Outstanding Lease Liabilities for Operating Leases

Maturities of lease liabilities for all operating leases were as follows as of December 31, 2024:


	December 31, 2024
2025	2,376
2026	1,607
2027	1,462
2028 and thereafter	1,118
Total lease payments	$	6,563
Less: Interest	(591)
Present value of lease liabilities	$	5,972

Weighted Average Remaining Lease Terms and Discount Rates for Operating Leases

The weighted average remaining lease terms and discount rates for all operating leases, excluding land-use right, were as follows as of December 31, 2024 and 2023:


	December 31,
	2024		2023
Remaining lease term and discount rate:
Weighted average remaining lease term (years)	3.57		3.44
Weighted average discount rate	3.58	%	3.91	%

STOCK-BASED COMPENSATION - Assumptions Used to Determine Fair Value of Share Options Granted (Details) - Employee stock option plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Outstanding intrinsic value	$ 53,004
Service Period Based
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Risk free interest rate, minimum (as a percent)	3.80%	4.16%	1.70%
Risk free interest rate, maximum (as a percent)	4.49%	4.69%	3.04%
Expected dividend rate (as a percent)	0.00%	0.00%	0.00%
Service Period Based \| Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Fair value of common share (in dollars per share)	$ 18.67	$ 11.85	$ 16.83
Expected term (in years)	5 years 6 months	5 years 6 months	5 years 6 months
Expected volatility rate (as a percent)	83.85%	84.95%	49.43%
Service Period Based \| Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Fair value of common share (in dollars per share)	$ 31.92	$ 17.23	$ 25.45
Expected term (in years)	6 years 3 months	6 years 3 months	6 years 3 months
Expected volatility rate (as a percent)	85.48%	86.45%	50.87%
2023 Stock Option Incentive Plan \| ACM Research (Shanghai), Inc. ("ACM Shanghai")
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Fair value of common share (in dollars per share)		$ 14.87
Expected volatility rate, minimum (as a percent)	45.92%	60.00%
Expected volatility rate, maximum (as a percent)	56.18%	60.60%
Risk free interest rate, minimum (as a percent)	1.50%	1.50%
Risk free interest rate, maximum (as a percent)	2.75%	2.75%
Expected dividend rate (as a percent)	0.00%	0.00%
Outstanding intrinsic value	$ 62,244	$ 81,981
2023 Stock Option Incentive Plan \| Minimum \| ACM Research (Shanghai), Inc. ("ACM Shanghai")
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Fair value of common share (in dollars per share)	$ 4.93
Expected term (in years)	1 year 6 months	1 year 6 months
2023 Stock Option Incentive Plan \| Maximum \| ACM Research (Shanghai), Inc. ("ACM Shanghai")
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Fair value of common share (in dollars per share)	$ 6.89
Expected term (in years)	4 years 6 months	4 years 6 months

RELATED PARTY BALANCES AND TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Cost of revenue, related party	$ 390,564	$ 281,508	$ 205,217
Related Party
Related Party Transaction [Line Items]
Other receivables	1,024	2,432
Accounts payable	16,133	11,407
Purchase of materials	60,586	47,743	46,335
Cost of revenue, related party	39,313	31,240	26,313
Related Party \| Ninebell
Related Party Transaction [Line Items]
Other receivables	1,024	2,432
Accounts payable	10,830	7,624
Purchase of materials	53,792	42,737	40,985
Related Party \| Shengyi
Related Party Transaction [Line Items]
Accounts payable	5,303	3,783
Purchase of materials	6,794	5,006	5,350
Cost of revenue, related party	$ 595	$ 820	$ 543

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Operating and Financial Risks (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Four Customers \| Revenue Benchmark
Concentration of Credit Risk [Abstract]
Concentration risk percentage	52.20%
Four Customers \| Accounts Receivable
Concentration of Credit Risk [Abstract]
Concentration risk percentage	57.10%	59.10%
Three Customers \| Revenue Benchmark
Concentration of Credit Risk [Abstract]
Concentration risk percentage		45.50%	43.80%

LONG-TERM BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2024

Long-Term Debt, by Current and Noncurrent [Abstract]

Long-Term Borrowings

At December 31, 2024 and 2023, long-term borrowings consisted of the following:


	December 31,
	2024		2023
Loan from China Merchants Bank	$	11,475	$	13,362
Loan from Agricultural Bank of China	13,020		—
Loans from Bank of China	28,258		5,013
Loan from Bank of Shanghai	13,920		14,120
Loans from China CITIC Bank	27,775		28,240
Loan from China Everbright Bank	55,549		—
Less: Current portion	(44,472)		(6,783)
	$	105,525	$	53,952

Principal Payments for Outstanding Long-Term Loans

Scheduled principal payments for the outstanding long-term loans, including the current portion, as of December 31, 2024 are as follows:


Year ending December 31,
2025	$	44,472
2026	33,758
2027	58,296
2028	7,537
Thereafter	5,934
	149,997

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
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+ Details

Cover - USD ($) $ in Millions	12 Months Ended
Cover - USD ($) $ in Millions	Dec. 31, 2024	Feb. 24, 2025	Jun. 28, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38273
Entity Registrant Name	ACM Research, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3290283
Entity Address, Address Line One	42307 Osgood Road, Suite I
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94539
City Area Code	510
Local Phone Number	445-3700
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Trading Symbol	ACMR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1,105.5
Documents Incorporated by Reference	Documents Incorporated By Reference The registrant intends to file a proxy statement pursuant to Regulation 14A within 120 days of the end of the fiscal year ended December 31, 2024. Portions of such proxy statement are incorporated by reference in Part III of this report.
Entity Central Index Key	0001680062
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		58,107,893
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,021,811

COMMON STOCK	12 Months Ended
COMMON STOCK	Dec. 31, 2024
Equity [Abstract]
COMMON STOCK	COMMON STOCK At December 31, 2024 and 2023, ACM was authorized to issue 150,000,000 shares of Class A common stock and 5,307,816 shares of Class B common stock, each with a par value of $0.0001. Each share of Class A common stock is entitled to one vote, and each share of Class B common stock is entitled to twenty votes and is convertible at any time into one share of Class A common stock. Shares of Class A common stock and Class B common stock are treated equally, identically and ratably with respect to any dividends declared by the Board of Directors unless the Board of Directors declares different dividends to the Class A common stock and Class B common stock by getting approval from a majority of common stockholders. During the year ended December 31, 2024, 2023 and 2022, ACM issued 1,902,713, 1,380,886 and 980,354 shares of Class A common stock upon option exercises by employees and non-employees, respectively, and issued nil, nil, and 66,003 shares of Class A common stock upon conversion of an equal number of shares of Class B common stock, respectively. At December 31, 2024 and 2023, the number of shares of Class A common stock issued and outstanding was 57,938,885 and 56,036,172, respectively. At December 31, 2024 and 2023, the number of shares of Class B common stock issued and outstanding was 5,021,811 and 5,021,811, respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

At December 31, 2024 and 2023, property, plant and equipment consisted of the following:


	December 31,
	2024		2023
Buildings and plants	$	141,410	$	83,109
Manufacturing equipment	37,038		16,556
Office equipment	5,815		4,953
Transportation equipment	396		404
Leasehold improvement	11,579		7,889
Total cost	196,238		112,911
Less: Total accumulated depreciation and amortization	(24,882)		(17,503)
Construction in progress	97,916		106,440
Total property, plant and equipment, net	$	269,272	$	201,848

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Warranty Obligations [Roll Forward]
Balance at beginning of period	$ 9,834	$ 8,780	$ 6,631
Additions	11,460	7,969	5,379
Utilized	(8,584)	(6,915)	(3,230)
Balance at end of period	$ 12,710	$ 9,834	$ 8,780
Minimum
Standard Product Warranty Disclosure [Abstract]
Standard assurance type warranty period	12 months
Maximum
Standard Product Warranty Disclosure [Abstract]
Standard assurance type warranty period	36 months

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Share Option Activities

The following table summarizes the ACM’s employee share option activities:


	Number of Option Shares	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2021	8,402,247	$	2.45	$	5.88	6.53 years
Granted	1,653,300	10.31		22.41
Exercised	(416,546)	1.20		2.97
Forfeited/cancelled	(427,360)	11.41		25.24
Outstanding at December 31, 2022	9,211,641	$	3.58	$	8.24	6.36 years
Granted	2,230,500	10.38		13.91
Exercised	(1,080,952)	0.90		2.28
Forfeited/cancelled	(362,552)	11.24		22.92
Outstanding at December 31, 2023	9,998,637	$	5.15	$	9.47	6.17 years
Granted	461,000	15.31		20.69
Exercised	(1,523,619)	1.91		4.10
Forfeited/cancelled	(84,423)	11.47		24.29
Outstanding at December 31, 2024	8,851,595	$	6.18	$	10.84	5.81 years
Vested and exercisable at December 31, 2024	5,528,459	$	4.73	$	9.23	4.81 years

The following table summarizes the ACM's non-employee share option activities:


	Number of Option Shares (1)	Weighted Average Grant Date Fair Value (1)		Weighted Average Exercise Price (1)		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2021	2,067,018	$	0.33	$	0.97	3.98 years
Exercised	(563,808)	0.21		0.51
Forfeited/cancelled	(19,552)	0.21		0.48
Outstanding at December 31, 2022	1,483,658	0.38		1.15		3.68 years
Exercised	(299,934)	0.24		0.55
Forfeited/cancelled	(12,929)	0.22		0.50
Outstanding at December 31, 2023	1,170,795	$	0.42	$	1.31	2.66 years
Exercised	(379,094)	0.22		0.57
Forfeited/cancelled	(7,569)	0.22		0.50
Outstanding at December 31, 2024	784,132	$	0.52	$	1.68	2.12 years
Vested and exercisable at December 31, 2024	784,132	$	0.52	$	1.68	2.12 years

The following table summarizes the ACM Shanghai employee stock option activities:


	Number of Option Shares in ACM Shanghai		Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2021	5,377,500		$	0.24	$	2.04	2.50 years
Forfeited/cancelled	—		—		—
Outstanding at December 31, 2022	5,377,500		$	0.23	$	1.93	1.76 years
Exercised	(2,150,309)		0.20		1.85
Forfeited/cancelled	(92,308)		0.22		1.85
Outstanding at December 31, 2023	3,134,883		$	0.24	$	1.85	0.85 years
Exercised	(3,033,344)		0.20		1.83
Forfeited/cancelled	(101,539)		0.20		1.83
Outstanding at December 31, 2024	$	—	$	—	$	—	0.00 years
Vested and exercisable at December 31, 2024	$	—	$	—	$	—	0.00 years

The following table summarizes the ACM Shanghai 2023 Subsidiary Stock Option Plan’s stock option activities:


	Number of Option Shares in ACM Shanghai	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2022	—	$	—	$	—	0.00 years
Granted	10,648,500	9.49		7.06
Forfeited/cancelled	(73,000)	9.49		7.06
Outstanding at December 31, 2023	10,575,500	$	9.49	$	7.06	3.09 years
Granted	1,391,000	6.04		7.00
Forfeited/cancelled	(362,190)	9.08		7.00
Outstanding at December 31, 2024	11,604,310	$	9.01	$	7.00	2.48 years
Vested and exercisable at December 31, 2024	2,559,435	$	8.50	$	6.99	0.59 years

Assumptions Used to Determine Fair Value of Options Granted

The fair value of options granted to employees is estimated on the grant date using the Black-Scholes valuation model with the following assumptions:


	Year ended December 31,
	2024		2023		2022
Fair value of common stock(1)	$18.67-$31.92		$11.85-$17.23		$16.83-$25.45
Expected term in years(2)	5.50-6.25		5.50-6.25		5.50-6.25
Volatility(3)	83.85-85.48%		84.95-86.45%		49.43-50.87%
Risk-free interest rate(4)	3.80-4.49%		4.16-4.69%		1.70-3.04%
Expected dividend(5)	0	%	0	%	0	%

(1)Fair value of Class A common stock value was the closing market price of the Class A common stock on the grant date.

(2)Expected term of share options is based on the average of the vesting period and the contractual term for each grant.

(3)Volatility is calculated based on the historical volatility of ACM in the period equal to the expected term of each grant.

(4)Risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the share options in effect at the time of grant.

(5)Expected dividend is assumed to be 0% as ACM has no history or expectation of paying a dividend on its common stock.

The fair value of options granted to employees is estimated on the grant date using the Black-Scholes valuation with following assumptions:


			Year Ended December 31, 2024			Year Ended December 31, 2023


Fair value of common stock(1)	$4.93-$6.89		$14.87
Expected term in years(2)	1.5-4.5		1.5-4.5
Volatility(3)	45.92%-56.18%		60.00%-60.60%
Risk-free interest rate(4)	1.50%-2.75%		1.50%-2.75%
Expected dividend (5)	—	%	—	%

(1) Equal to closing value on the grant date.

(2) Expected term of share options is based on the average of the vesting period and the contractual term for each grant.

(3) Volatility is calculated based on the historical volatility of ACM in the period equal to the expected term of each grant.

(4) Risk-free interest rate is based on the yields of RMB deposit in mainland China with maturities similar to the expected term of the share options in effect at the time of grant.

(5) Expected dividend is assumed to be 0% as the impact is adjusted on the value of share of common stock.

Components of Stock-based Compensation Expense

The following table summarizes the components of stock-based compensation expense included in the consolidated statements of comprehensive income (loss):


	Year Ended December 31,
	2024		2023		2022
Stock-Based Compensation Expense:
Cost of revenue	$	2,385	$	1,406	$	520
Sales and marketing expense	10,552		5,684		1,877
Research and development expense	14,112		8,459		2,565
General and administrative expense	22,527		11,789		2,768
	$	49,576	$	27,338	$	7,730


	Year Ended December 31,
	2024		2023		2022
Stock-based compensation expense by type:
Employee stock option plan	$	10,469	$	6,213	$	7,346
Non-employee stock option plan	30		46		46
2019 and 2023 Subsidiary stock option plans	39,077		21,079		338
	$	49,576	$	27,338	$	7,730

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

For the presentation of the parent company only condensed financial information, the Company records its investments in subsidiaries under the equity method of accounting as prescribed in ASC 323, Investments—Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investment in consolidated subsidiaries and equity method investees” and the subsidiaries’ losses and gains as “Equity in earnings of consolidated subsidiaries and equity method investees” on the condensed statements of comprehensive income (loss). Certain information and footnote disclosures generally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The footnote disclosure contains supplemental information relating to the operations of ACM separately.

ACM Shanghai paid a dividend to ACM during the years ended December 31, 2024 and 2023 (Note 2).

Except for long-term obligations, or guarantees, and loan borrowed by ACM Inc. from China CITIC Bank (note 12), ACM does not have significant capital or other commitments, as of December 31, 2024 or 2023.

The following represents condensed unconsolidated financial information of ACM only as of December 31, 2024 and 2023, and for the years ended December 31, 2024, 2023 and 2022:

CONDENSED BALANCE SHEETS


	December 31,
	2024		2023
Assets
Current assets:
Cash and cash equivalents	$	54,764	$	41,616
Accounts receivable	2		988
Due from intercompany	6,554		3,176
Other receivable	8,938		5,803
Prepaid expenses	479		385
Total current assets	70,737		51,968
Deferred tax assets	4,610		20,271
Property, plant and equipment, net	7,990		134
Investment in consolidated subsidiaries and equity method investees	844,507		733,382
Total assets	927,844		$	805,755

Liabilities and Stockholders’ Equity
Loan borrowings	$	13,882	$	14,120
Accounts payable	391		524
Other payables	8,098		5,176
Income taxes payable	—		6,402
FIN-48 payable	848		12,149
Total liabilities	23,219		38,371
Total stockholders’ equity	904,625		767,384
Total liabilities and stockholder’s equity	$	927,844	$	805,755

CONDENSED STATEMENTS OF OPERATIONS


	Year Ended December 31,
	2024		2023		2022
Revenue	$	2,576	$	6,354	$	569
Cost of revenue	(132)		(4,336)		—
Gross profit	2,444		2,018		569
Operating expenses:
Sales and marketing expenses	(6,909)		(4,715)		(3,193)
General and administrative expenses	(10,331)		(7,840)		(5,421)
Loss from operations	(14,796)		(10,537)		(8,045)
Equity in earnings of consolidated subsidiaries and equity method investees	87,916		73,707		32,145
Interest income, net	2,094		799		57
Interest expense, net	(560)		(66)		(7)
Other income, net	34,684		18,476		2,148
Income before income taxes	109,338		82,379		26,298
Income tax (expense) benefit	(5,711)		(5,030)		12,965
Net income	$	103,627	$	77,349	$	39,263
Foreign currency translation adjustment, net of tax	(14,373)		(8,803)		(49,655)
Unrealized gain on available-for-sale investments, net of tax	350		—		—
Comprehensive income (loss) attributable to ACM Research, Inc.	$	89,604	$	68,546	$	(10,392)

CONDENSED STATEMENTS OF CASH FLOWS


	Year Ended December 31,
	2024		2023		2022
Net cash provided by (used in) operating activities	$	15,285	$	1,489	$	(5,997)
Net cash used in investing activities	(7,889)		(149)		(1,000)
Net cash provided by financing activities	5,752		16,423		1,314
Net increase (decrease) in cash and cash equivalents	13,148		17,763		(5,683)
Cash and cash equivalents, beginning of year	41,616		23,853		29,536
Cash and cash equivalents, end of year	$	54,764	$	41,616	$	23,853

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Amortization period (in years)	15 years
Foreign rate differential	(3.27%)	(10.47%)	(9.43%)
Net operating loss carryforwards subject to annual limitation ownership change	$ 2,030
Unrecognized tax benefits	16,774	$ 13,026	$ 8,448	$ 6,066
Accrued income tax penalties	2,973	1,667
Unrecognized tax benefits that would impact effective tax rate	16,638
Undistributed earnings of foreign subsidiaries	238,605
PRC \| Mainland China
Income Taxes [Line Items]
Valuation allowance	20,209	11,585
Operating loss carryforwards	30,481	46,467
PRC \| Korea
Income Taxes [Line Items]
Valuation allowance	515	14
Operating loss carryforwards	$ 2,339	$ 64
PRC \| Maximum
Income Taxes [Line Items]
Foreign corporate tax rate	25.00%
PRC \| Minimum
Income Taxes [Line Items]
Foreign corporate tax rate		12.50%	12.50%
U.S. Federal
Income Taxes [Line Items]
Valuation allowance	$ 5,467	$ 29
Operating loss carryforwards	2,030	3,121	$ 4,385
U.S. State
Income Taxes [Line Items]
Valuation allowance	295	279
Operating loss carryforwards	$ 929	$ 593	$ 545
ACM Research (Shanghai), Inc. ("ACM Shanghai")
Income Taxes [Line Items]
Foreign rate differential	15.00%
ACM Research (Shanghai), Inc. ("ACM Shanghai") \| PRC
Income Taxes [Line Items]
Foreign corporate tax rate	12.50%
Foreign rate differential		12.50%

SHORT-TERM INVESTMENTS - Summary of Unrealized Gain (Loss) on Trading Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Unrealized gains (losses) recognized during the reporting period on short-term investment still held at December 31	$ 973	$ (2,737)	$ (7,855)
Net realized gains on short-term investment sold during the period	1,788	9,047	1,116
Total net gains (losses) recognized at December 31 on short-term investment	$ 2,761	$ 6,310	$ (6,739)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Cash and Cash Equivalents

The following table presents cash and cash equivalents, according to jurisdiction as of December 31, 2024 and 2023:


	December 31,
	2024		2023
United States	$	56,308	$	43,614
Mainland China	94,701		70,418
China Hong Kong	255,853		64,057
Korea	516		3,934
Singapore	67		67
Total	$	407,445	$	182,090

Summary of Time Deposits

At December 31, 2024 and December 31, 2023, time deposits consisted of the following:


	December 31,
	2024		2023
Deposit in China Merchant Bank which was redeemed on January 29, 2024 with an annual interest rate of 2.85%	$	—	$	29,797
Deposit in Bank of Ningbo which was redeemed on February 17, 2024 with an annual interest rate of 2.85%	—		44,630
Deposit in Shanghai Pudong Development Bank which was redeemed on June 20, 2024 with an annual interest rate of 3.10%	—		7,322
Deposit in Shanghai Pudong Development Bank which was redeemed on May 28, 2024 with an annual interest rate of 3.10%	—		7,307
Deposit in Shanghai Pudong Development Bank which was redeemed on March 7, 2024 with an annual interest rate of 3.10%	—		4,376
Deposit in Shanghai Pudong Development Bank which was redeemed on March 22, 2024 with an annual interest rate of 3.10%	—		4,373
Deposit in Shanghai Pudong Development Bank which was redeemed on January 29, 2024 with an annual interest rate of 3.10%	—		2,912
Deposit in China Industrial Bank which matures on January 31, 2026 with an annual interest rate of 3.15%	13,275		14,528
Deposit in China Everbright Bank which was redeemed on January 5, 2024 with an annual interest rate of 5.38%	—		3,079
Deposit in China Everbright Bank which was redeemed on May 22, 2024 with an annual interest rate of 5.38%	—		3,018
Deposit in China Everbright Bank which matures on January 9, 2025 with an annual interest rate of 5.214%	10,247		—
Deposit in China Everbright Bank which matures on May 25, 2025 with an annual interest rate of 4.430%	7,030		—
	$	30,552	$	121,342

Estimated Useful Lives of Property, Plant and Equipment

Estimated useful lives of assets are as follows:


Buildings and plants			30 years
Computer and office equipment			3 to 5 years
Furniture and fixtures			5 years
Leasehold improvements			shorter of lease term or estimated useful life
Electronic equipment			3 to 5 years
Manufacturing equipment			for small to medium-sized equipment, 5 to 10 years; for large equipment, estimated by purchasing department at time of acceptance
Transportation equipment			4 to 5 years

Warranty Obligations

The following table shows changes in the Company’s warranty obligations for the years ended December 31, 2024, 2023 and 2022, respectively.


	Year Ended December 31,
	2024		2023		2022
Balance at beginning of period	$	9,834	$	8,780	$	6,631
Additions	11,460		7,969		5,379
Utilized	(8,584)		(6,915)		(3,230)
Balance at end of period	$	12,710	$	9,834	$	8,780

Basic and Diluted Net Income per Common Share

Basic and diluted net income per share of common stock is calculated as follows:


	Year Ended December 31,
	2024		2023		2022
Numerator:
Net income	$	131,269	$	96,852	$	50,564
Less: Net income attributable to non-controlling interests	27,642		19,503		11,301
Net income available to common stockholders, basic	$	103,627	$	77,349	$	39,263
Less: Dilutive effect arising from stock-based awards by ACM Shanghai	2,227		1,841		584
Net income available to common stockholders, diluted	$	101,400	$	75,508	$	38,679
Weighted average shares outstanding, basic	62,212,569		60,164,670		59,235,975
Effect of dilutive securities	4,024,855		4,705,873		6,105,796
Weighted average shares outstanding, diluted	66,237,424		64,870,543		65,341,771

Net income per share of common stock:
Basic	$	1.67	$	1.29	$	0.66
Diluted	$	1.53	$	1.16	$	0.59

Carrying Value of Borrowings

Assets and liabilities measured at fair value on a recurring basis:


	Quoted Prices in Active Markets for Identical Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of December 31, 2024
Assets
Cash and cash equivalents	$	50,967	$	-	$	-	$	50,967
Short-term investments	19,373		-		-		19,373
Available-for-sale debt securities	—		-		2,584		2,584
	$	70,340	$	-	$	2,584	$	72,924

As of December 31, 2023
Assets
Cash and cash equivalents	$	37,518	$	-	$	-	$	37,518
Short-term investments	21,312		-		-		21,312
	$	58,830	$	-	$	-	$	58,830

The Company did not have any assets and liabilities measured at fair value on a non-recurring basis as of December 31, 2024. Assets and liabilities measured at fair value on a non-recurring basis as of December 31, 2023 are as follows:


	Quoted Prices in Active Markets for Identical Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of December 31, 2023
Assets
Investments accounted for using measurement alternative	$	—	$	—	$	10,378	$	10,378
	$	—	$	—	$	10,378	$	10,378

LONG-TERM BORROWINGS - Summary of Scheduled Principal Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Long-Term Debt, by Current and Noncurrent [Abstract]
2025	$ 44,472
2026	33,758
2027	58,296
2028	7,537
Thereafter	5,934
Long-term debt	$ 149,997	$ 60,735

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

DESCRIPTION OF BUSINESS

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS

ACM Research, Inc. (“ACM” or “ACM Research”) and its subsidiaries (collectively with ACM, the “Company”) develop, manufacture and sell capital equipment to the global semiconductor industry.

The Company has direct or indirect interests in the following subsidiaries:


	Place and date of incorporation	Principal Activities	Effective interest held as at December 31,
Name of subsidiaries			2024		2023
ACM Research (Shanghai), Inc. ("ACM Shanghai")	Mainland China, May 2005	Principal operating subsidiary	81.5	%	82.1	%
ACM Research (Wuxi), Inc. ("ACM Wuxi")	Mainland China, July 2011	Sales and services	81.5	%	82.1	%
CleanChip Technologies Limited ("CleanChip")	Hong Kong, June 2017	Trading partner between ACM Shanghai and its customers	81.5	%	82.1	%
ACM Research Korea CO., LTD.	Korea, December 2017	Sales, marketing, R&D, production	81.5	%	82.1	%
ACM Research ( Lingang), Inc. ("ACM Lingang") (1)	Mainland China, March 2019	Management of production activities	81.5	%	82.1	%
ACM Research (CA), Inc. ("ACM California")	USA, April 2019	Procurement for ACM Shanghai	81.5	%	82.1	%
ACM Research (Cayman), Inc.	Cayman Islands, April 2019	Administrative function (inactive)	100.0	%	100.0	%
ACM Research (Singapore) PTE. Ltd. ("ACM Singapore")	Singapore, August 2021	Sales, marketing, business development	100.0	%	100.0	%
ACM Research (Beijing), Inc. ("ACM Beijing")	Mainland China, February 2022	Sales and services	81.5	%	82.1	%
Hanguk ACM CO., LTD	Korea, March 2022	Sales, services, business development	81.5	%	100.0	%
Yusheng Micro Semiconductor (Shanghai) Co., Ltd.	Mainland China, June 2023	Business development	81.5	%	82.1	%
ACM-Wooil Microelectronics (Shanghai) Co., Ltd.	Mainland China, June 2023	Component development and production	59.0	%	59.4	%
ACM Research (Chengdu), Inc. ("ACM Chengdu")	Mainland China, December 2024	Component development and production	81.5	%	N/A
Shengyi Micro Semiconductor (Shanghai) Co., Ltd.	Mainland China, December 2024	Sales and services	69.3	%	N/A

(1) ACM Research (Lingang) Inc. is the English name referred to by its Chinese language name Shengwei Research (Shanghai), Inc., or ACM Shengwei in prior filings. ACM Research (Lingang), Inc. and Shengwei Research (Shanghai), Inc. refer to the same entity.

LEASES - Operating Leases Discount Rate And Weighted Average Remaining Term (Details)	Dec. 31, 2024	Dec. 31, 2023
Lessee, Operating Lease, Description [Abstract]
Weighted average remaining term (in years)	3 years 6 months 25 days	3 years 5 months 8 days
Weighted average discount rate, percent	3.58%	3.91%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Basis of Presentation and Principles of Consolidation

The Company’s consolidated financial statements include the accounts of ACM and its subsidiaries, including ACM Shanghai and its subsidiaries. ACM’s subsidiaries are those entities in which ACM, directly and indirectly, controls more than a majority of the voting power. All significant intercompany transactions and balances have been eliminated upon consolidation. The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

Reclassifications

Certain reclassifications have been made to the amounts for prior years in order to conform to the current year’s presentation.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the balance sheet date and the reported revenues and expenses during the reported period in the consolidated financial statements and accompanying notes. The Company’s significant accounting estimates and assumptions include, but are not limited to, those used for revenue recognition and deferred revenue, the valuation and recognition of fair value of certain long-term investments, stock-based compensation arrangements, realization of deferred tax assets, uncertain tax position, assessment for impairment of long-lived assets and long-term investments, allowance for credit losses, inventory valuation, useful lives of property, plant and equipment and useful lives of intangible assets.

Management evaluates these estimates and assumptions on a regular basis. Actual results could differ from those estimates and assumptions.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand and bank deposits that are unrestricted as to withdrawal and use, and highly liquid investments with an original maturity date of three months or less at the date of purchase. At times, cash deposits may exceed government-insured limits.

Cash held in the U.S. exceeds the Federal Deposit Insurance Corporation (“FDIC”) insurance limits and is subject to risk of loss. No losses have been experienced to date.

Cash amounts at the banks in mainland China are subject to a series of risk control regulatory standards from mainland China bank regulatory authorities. ACM’s subsidiaries in mainland China are required to obtain approval from the State Administration of Foreign Exchange (“SAFE”) to transfer funds into or out of mainland China. SAFE requires a valid agreement to approve the transfers, which are processed through a bank. Other than these mainland China foreign exchange restrictions, ACM’s subsidiaries in mainland China are not subject to any mainland China restrictions and limitations on its ability to transfer funds to ACM Research or among our other subsidiaries. However, cash held by ACM’s subsidiaries in mainland China does exceed applicable insurance limits and is subject to risk of loss, although no such losses have been experienced to date.

Time Deposits

Time deposits are deposited with banks in mainland China with fixed terms and interest rates which cannot be withdrawn before maturity, and are presented as short-term deposits and long-term deposits in the consolidated financial statements

based on their expected time of collection. They are also subject to the risk control regulatory standards described above upon maturity.

Accounts Receivable, Net

Prior to adoption of Accounting Standards Update, or ASU, 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”), the Company reviews its accounts receivable on a periodic basis and makes general and specific allowances when there is doubt as to the collectability of individual balances. After adoption of ASC 326, as of January 1, 2023, the Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when the Company identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status, the age of the accounts receivable balances, credit quality of the Company’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the Company’s ability to collect from customers.

Inventories, Net

Inventory consists of raw materials and related goods, work-in-progress, finished goods, and other consumable materials such as spare parts. Inventory is recorded at the lower of cost or net realizable value. The cost of inventory is principally

determined by the weighted average cost method for raw materials. The Company assesses the recoverability of all inventories to determine if any adjustments are required for obsolete inventory or those with net realizable value lower than the cost.

Property, Plant and Equipment, Net and Construction in Progress

Property, Plant and Equipment, Net

Property, plant and equipment are recorded at cost less accumulated depreciation. Depreciation begins when the asset is placed in service and is calculated by using the straight-line method over the estimated useful life of an asset (or, if shorter, over the lease term). Betterments or renewals are capitalized when incurred.

Estimated useful lives of assets are as follows:


Buildings and plants			30 years
Computer and office equipment			3 to 5 years
Furniture and fixtures			5 years
Leasehold improvements			shorter of lease term or estimated useful life
Electronic equipment			3 to 5 years
Manufacturing equipment			for small to medium-sized equipment, 5 to 10 years; for large equipment, estimated by purchasing department at time of acceptance
Transportation equipment			4 to 5 years

Expenditures for maintenance and repairs that neither materially add to the value of the property nor appreciably prolong the life of the property are charged to expense as incurred. Upon retirement or sale of an asset, the cost of the asset and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is credited or charged to income.

Construction In Progress

Construction in progress primarily reflects costs incurred related to the construction of ACM Shanghai’s Lingang development and production center.

Intangible Assets, Net

Intangible assets consist of purchase software. Assets are valued at cost at the time of acquisition and are amortized over their beneficial periods.

Impairment of Long-Lived Assets

Long-lived assets are evaluated for impairment whenever events or changes in circumstance indicate that the carrying value of the assets may not be fully recoverable or that the useful life of the assets is shorter than the Company had originally estimated. When these events or changes occur, the Company evaluates the impairment of the long-lived assets by comparing the carrying value of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying value of the assets, the Company recognizes an impairment loss based on the excess of the carrying value over the fair value.

Leases

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, and operating lease liabilities in the consolidated balance sheets.

ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company uses the

implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Operating lease expense is recognized on a straight-line basis over the lease term. The Company has also elected the practical expedient for the short-term lease exemption for contracts with lease terms of 12 months or less. The Company has also elected the practical expedient for the short-term lease exemption for contracts with lease terms of 12 months or less.

Revenue Recognition

The Company derives revenue principally from the sale of semiconductor capital equipment. Revenue from contracts with customers is recognized using the following five steps pursuant ASC Topic 606, Revenue from Contracts with Customers:

1.Identify the contract(s) with a customer;

2.Identify the performance obligations in the contract;

3.Determine the transaction price;

4.Allocate the transaction price to the performance obligations in the contract; and

5.Recognize revenue when (or as) the entity satisfies a performance obligation.

Identify the contract(s) with a customer. The Company generally considers written documentation including, but not limited to, signed purchase orders, master agreements, and sales orders as contracts, provided it has approval and commitment from the customer, the rights of the parties are identified, payment terms are identified, the contract has commercial substance, and collection is probable. Collectability is assessed based on management’s assessment of the customer’s creditworthiness, historical payment experience, as well as other relevant factors.

Identify the performance obligations in the contract. Performance obligations are accounted for separately if they are distinct. A good or service is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer, and the good or service is distinct in the context of the contract. The Company’s performance obligations generally include sales of tools and spare parts. In addition, customer contracts can contain provisions for installation, training, software updates, most-favored pricing for spare parts, and other items which have been deemed immaterial in the context of the contract.

Determine the transaction price. The transaction price for the Company’s contracts with customers may include fixed and variable consideration. The Company includes variable consideration in the transaction price to the extent that it is probable that a significant reversal of revenue will not occur in the future based on the Company’s historical experience with similar arrangements.

Allocate the transaction price to the performance obligations in the contract. For contracts that contain multiple performance obligations, primarily those that include multiple tools, or spare parts sold together with tools, the Company allocates the transaction price to the performance obligations on a relative standalone selling price basis. The Company recognizes contract liabilities associated with unsatisfied performance obligations, based on the stand-alone observable selling prices or using an expected cost-plus-margin approach when a stand-alone selling price is not directly observable, and recognizes revenue as the related performance obligations are satisfied.

Recognize revenue when, or as, a performance obligation is satisfied. The Company recognizes revenue from tools and spare parts at a point in time, when the Company has satisfied its performance obligation. The Company’s sales arrangements do not include a general right of return. For shipments made to a customer that has not previously accepted a specific type of tool (“first tools”), revenues are recognized when the tools are accepted by the customer. For shipments made to a customer that has previously accepted a specific type of tool ("repeat shipment"), revenues are recognized upon shipment or delivery because the Company can objectively demonstrate that the tools meet all the required customer specifications.

The Company’s warranties provide assurance that its products will function as expected and in accordance with certain specifications. The Company’s warranties are intended to safeguard the customer against existing defects and do not provide any incremental service to the customer. They are not separate performance obligations and are accounted for under FASB ASC Topic 460, Guarantees.

For sales of tools, payment terms and conditions vary by customer and are based on the billing schedule established in the Company’s contracts with customers, but the contract generally requires advanced payments for a portion of transaction

price prior to delivery and payments of the remaining transaction price after the tools are accepted by customers; therefore, the Company has determined that its contracts do not include a significant financing component. For sales of spare parts, the contract generally requires payment within 30 days after delivery. Contract liabilities include advances from customers and deferred revenue. Payments received from customers prior to the transfer of control of the tools are recorded as advances from customers. Payments received from customers related to the allocated transaction price for the unsatisfied performance obligations are recorded as deferred revenue.

Cost of Revenue

Cost of revenue primarily consists of: direct materials, comprised principally of parts used in assembling equipment, together with crating and shipping costs; direct labor, including salaries and other labor related expenses attributable to the Company’s manufacturing department; allocated overhead cost and inventory provision.

Research and Development Costs

Research and development costs relating to the development of new products and processes, significant improvements and refinements to existing products or the process of supporting customer evaluations of tools, and the development of new tools for evaluation by customers during the product demonstration process, are expensed as incurred.

Borrowing Costs

Borrowing costs attributable directly to the acquisition, construction or production of qualifying assets that require a substantial period of time to be ready for their intended use or sale are capitalized as part of the cost of those assets. Income earned on temporary investments of specific borrowings pending their expenditure on those assets is deducted from borrowing costs capitalized. All other borrowing costs are recognized in interest expense in the consolidated statements of comprehensive income (loss) in the period in which they are incurred.

Warranty

The Company generally provides a standard assurance type warranty ranging from 12 to 36 months and covering replacement of its product during the warranty period. The Company accounts for the estimated warranty costs at the time revenue is recognized. Warranty obligations are affected by historical failure rates and associated replacement costs. Utilizing historical warranty cost records, the Company calculates a rate of warranty expenses to revenue to determine the estimated warranty charge. The Company updates these estimated charges on a regular basis. Warranty obligations are included in other payables and accrued expenses in the consolidated balance sheets.

Employee Benefit Expenses

The Company has a defined contribution 401(k) plan for eligible employees. Eligible employees have the option to participate in the plan beginning on their date of hire. Under the terms of the plan, employees may make voluntary contributions as a percentage of their compensation or a flat dollar amount.

All eligible employees of the Company’s mainland China subsidiaries are entitled to staff welfare benefits including medical care, welfare grants, unemployment insurance and pension benefits through a mainland China government-mandated multi-employer defined contribution plan. The Company’s mainland China subsidiaries are required to accrue for these benefits based on certain percentages of the qualified employees’ salaries, and are required to make contributions to the plans out of the amounts accrued. The mainland China government is responsible for the medical benefits and the pension liability to be paid to these employees and the Company’s obligations are limited to the amounts contributed. The

Company has no further payment obligations once the contributions have been paid.

Government Subsidies

ACM Shanghai has received several special government grants. The government subsidies of operating nature with no further conditions to be met are recorded as other income in the consolidated statements of comprehensive income (loss) when received. The government grants that contain certain operating conditions, and require a government due diligence process to confirm completion, are deferred and recorded as other long-term liabilities (note 12) when received, and are recognized in the consolidated statements of comprehensive income (loss) as follows:

•Government subsidies relating to current expenses are recorded as reductions of those expenses in the periods in which the current expenses are recorded. For the years ended December 31, 2024, 2023 and 2022, related government subsidies recognized as reductions of relevant expenses in the consolidated statements of comprehensive income (loss) were $462, $1,740 and $1,201, respectively.

•Government subsidies related to depreciable assets are credited to income over the useful lives of the related assets for which the grant was received. Government subsidies related to VAT reduction are credited to income in the period received. For the years ended December 31, 2024, 2023 and 2022, related government subsidies recognized as other income in the consolidated statements of comprehensive income (loss) were $2,018, $533, and $306, respectively.

Stock-based Compensation

ACM and ACM Shanghai grants stock options to employees and non-employee consultants and directors and accounts for those stock-based awards in accordance with FASB ASC Topic 718, Compensation – Stock Compensation.

Stock-based awards granted to employees and non-employee consultants and directors are measured at the fair value of the awards on the grant date and are recognized as expenses either (a) immediately on grant, if no vesting conditions are required or (b) using the graded vesting method, net of estimated forfeitures, over the requisite service period. The fair value of stock options is determined using the Black-Scholes valuation model when there are service and performance condition attached or the Monte Carlo valuation model when there is market condition attached. Stock-based compensation is charged to the category of operating expense corresponding to the service function of the employees and non-employee consultants and directors. The Company has elected to recognize share-based compensation on a straight-line basis for awards with graded vesting that vest based solely on a service condition. The Company uses the accelerated method for all awards granted based on service conditions and performance conditions, and only if performance conditions are considered probable to be satisfied.

Income Taxes

The Company accounts for income taxes using the liability method whereby deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable values.

In evaluating the ability to recover its deferred income tax assets, the Company considers all available positive and negative evidence, including its operating results, ongoing tax planning and forecasts of future taxable income on a jurisdiction-by-jurisdiction basis. In the event the Company determines that it would be able to realize its deferred income tax assets in the future in excess of their net recorded amount, it would make an adjustment to the valuation allowance that would reduce the provision for income taxes. Conversely, in the event that all or part of the net deferred tax assets are determined not to be realizable in the future, an adjustment to the valuation allowance would be charged to earnings in the period such determination is made.

Tax benefits related to uncertain tax positions are recognized when it is more likely than not that a tax position will be sustained during an audit. Interest and penalties related to unrecognized tax benefits are included within the provision for income tax.

Basic and Diluted Net Income per Common Share

Basic and diluted net income per share of common stock is presented using the two-class method, which allocates undistributed earnings to common stock and any participating securities according to dividend rights and participation rights on a proportionate basis. Under the two-class method, basic net income per share of common stock is computed by dividing the sum of distributed and undistributed earnings attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. ACM did not have any participating securities outstanding during the three-year periods ended December 31, 2024.

Class A and Class B common stock are substantially identical in all material respects, except for voting rights. Since ACM did not declare any dividends during the years ended December 31, 2024, 2023 and 2022, the net income per share of common stock attributable to each class is the same under the “two-class” method. As such, the two classes of common stock have been presented on a combined basis in the consolidated statements of comprehensive income (loss) and in the above computation of net income per share of common stock.

Comprehensive Income (loss)

The Company applies FASB ASC Topic 220, Comprehensive Income, which establishes standards for the reporting and display of comprehensive income (loss), requiring its components to be reported in a financial statement with the same prominence as other financial statements. The Company’s comprehensive income (loss) includes net income, foreign currency translation adjustments, and unrealized gain on investments in available-for-sale debt securities and is presented in the consolidated statements of comprehensive income (loss).

Restricted Net Assets

The Company’s ability to pay dividends is primarily dependent on the Company receiving distributions of funds from its subsidiaries. Relevant statutory laws and regulations of mainland China permit payments of dividends by the Company’s mainland China subsidiaries only out of its retained earnings, if any, as determined in accordance with accounting standards and regulations of mainland China. The results of operations reflected in the consolidated financial statements

prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s mainland China subsidiaries. The Company has not previously declared or paid any cash dividend or dividend in kind and has no plan to declare or pay any dividends in the near future.

Under laws and regulations of mainland China, there are restrictions on the Company’s mainland China subsidiaries with respect to transferring certain of their net assets to the Company either in the form of dividends, loans, or advances. Amounts of net assets restricted include paid-in capital and statutory surplus reserve of the Company’s mainland China subsidiaries totaling $686,874 as of December 31 2024. Therefore, in accordance with Rules 504 and 4.08(e)(3) of Regulation S-X, the condensed parent company only financial statements as of December 31, 2024 and 2023, and for each of the three years in the period ended December 31, 2024 are disclosed in Note 21.

Furthermore, cash transfers from the Company’s mainland China subsidiaries to its subsidiaries outside of China are subject to mainland China government control of currency conversion. Shortages in the availability of foreign currency may restrict the ability of the mainland China subsidiaries to remit sufficient foreign currency to pay dividends or other payments to the Company, or otherwise satisfy their foreign currency denominated obligations.

Statutory Surplus Reserve

The income of ACM’s mainland China subsidiaries is distributable to their shareholders after transfers to reserves as required under relevant mainland China laws and regulations and the subsidiaries’ Articles of Association. As stipulated by the relevant laws and regulations in mainland China, mainland China subsidiaries are required to maintain reserves, including reserves for statutory surpluses and public welfare funds that are not distributable to shareholders. A mainland China subsidiary’s appropriations to the reserves are approved by its board of directors. At least 10% of annual statutory after-tax profits, as determined in accordance with mainland China accounting standards and regulations, is required to be allocated to the statutory surplus reserves. If the cumulative total of the statutory surplus reserves reaches 50% of a mainland China subsidiary’s registered capital, any further appropriation is optional.

Statutory surplus reserves may be used to offset accumulated losses or to increase the registered capital of a mainland China subsidiary, subject to approval from the relevant mainland China authorities, and are not available for dividend distribution to the subsidiary’s shareholders. The mainland China subsidiaries are prohibited from distributing dividends unless any losses from prior years have been offset. Except for offsetting prior years’ losses, however, statutory surplus reserves must be maintained at a minimum of 25% of share capital after such usage.

Noncontrolling interests

Noncontrolling Interests

A noncontrolling interest is recognized to reflect the portion of subsidiaries’ equity which is not attributable, directly or indirectly, to ACM Research. Consolidated net income on the consolidated statements of comprehensive income (loss) includes the net income attributable to noncontrolling interests. The cumulative results of operations attributable to noncontrolling interests are recorded as “noncontrolling interests” in the Company’s consolidated balance sheets.

Financial Instruments

The Company periodically invests in equity and debt securities, and maintains an investment portfolio of various holdings, types, and maturities. For equity investments that do not have a readily determinable fair value, the Company classified them as long-term investments, and records them using either: 1) the measurement alternative which measures the equity investments at cost minus impairment, if any, plus or minus changes resulting from qualifying observable price changes; or 2) the equity method whereby the Company recognizes its proportional share of the income or loss from the equity method investment. The equity method is utilized when the equity investments are common stock or in substance common stock, and the Company does not have the ability to control the investee but is deemed to have the ability to exercise significant influence over the investee’s operating or financial policies. For equity investments that have a readily determinable fair value, the Company classified them as short-term investments, and records them at fair market value on a recurring basis based upon quoted market prices. Realized and unrealized gains and losses resulting from application of the measurement alternative, the impact of the application of the equity method to the Company’s equity investments, and recognition of

changes in fair market value, as applicable, are recognized as non-operating income (expenses), net in the consolidated statements of comprehensive income (loss).

The Company’s investments in debt securities have been classified and accounted for as available-for-sale. The Company classifies its debt securities as either short-term or long-term based on each instrument’s underlying contractual maturity date. Unrealized gains and losses on debt securities classified as available-for-sale are recognized in accumulated other comprehensive income (loss) in the consolidated balance sheets.

Fair Value Measurement

The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact, and it considers assumptions that market participants would use when pricing the asset or liability.

A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value. The level of an asset or liability in the hierarchy is based on the lowest level of input that is significant to the fair value measurement. Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories:

Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities with sufficient volume and frequency of transactions.

Level 2: Valuations based on observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active for identical assets or liabilities, or model-derived valuations techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3: Valuations based on unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities and based on non-binding, broker-provided price quotes and may not have been corroborated by observable market data.

The Company’s primary financial instruments include its cash, cash equivalents, short term and long term deposits, restricted cash, short-term and long-term investments, accounts receivable, other receivables, accounts payable, related party accounts payable , other payable, and short-term and long-term borrowings. The estimated fair value of cash and cash equivalents, restricted cash, short-term time deposits, accounts receivable, other receivable, accounts payable, other payable, and short-term borrowings approximates their carrying value due to the short period of time to their maturities.

All transfers between fair value hierarchy levels are recognized by the Company at the end of each reporting period. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, an investment’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement in its entirety, requires judgment and considers factors specific to the investment. The inputs or methodology used for valuing financial instruments are not necessarily an indication of the risks associated with investment in those instruments.

The non-recurring fair value measurements to the carrying amount of equity investments accounted for using measurement alternative usually requires management to estimate a price adjustment for the different rights and obligations between a similar instrument of the same issuer with an observable price change in an orderly transaction and the investment held by the Company. These non-recurring fair value measurements were measured by using the observable transaction price and other unobservable inputs (level 3) as of the observable transaction dates.

Operating and Financial Risks

Concentration of Credit Risk

Financial instruments that potentially subject the Company to credit risk consist principally of cash and cash equivalents, time deposits, and accounts receivable. The Company deposits and invests its cash with financial institutions that management believes are creditworthy.

The Company is potentially subject to concentrations of credit risks in its accounts receivable and revenue. For the years ended December 31, 2024, 2023 and 2022, four customers accounted for 52.2%, three customers accounted for 45.5% of revenue, and three customers accounted for 43.8% of revenue, respectively.

As of December 31, 2024 and 2023, four customers accounted for 57.1% and four customers accounted for 59.1%, respectively, of the Company’s accounts receivables. The Company believes that the receivable balances from these largest customers do not represent a significant credit risk based on past collection experience.

Interest Rate Risk

As of December 31, 2024 and 2023, the balance of the Company’s short term bank borrowings (note 8) were scheduled to mature at various dates within the following year and thus exposed the Company to modest interest rate risk. The Company is exposed to interest rate risk related to its long-term borrowings (note 12), and as certain long-term borrowings carry a fixed interest rate, the Company may be exposed to the fair value interest rate risk.

Liquidity Risk

The Company’s working capital at December 31, 2024 and 2023 was sufficient to meet its then-current requirements. The Company may, however, require additional cash due to changing business conditions or other future developments, including any investments or acquisitions the Company decides to pursue. In the long run, the Company intends to rely primarily on cash flows from operations and additional borrowings from financial institutions in order to meet its cash needs. If those sources are insufficient to meet cash requirements, the Company may seek to issue additional debt or equity.

Country Risk

The Company has significant investments in mainland China. The operating results of the Company may be adversely affected either directly or indirectly by changes in the political and social conditions in mainland China, by changes in mainland China government policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, rates and methods of taxation, and export controls enacted by the U.S., Japan, and the Netherlands to restrict the sale of certain technology to mainland China, among other things.

Foreign Currency Risk and Translation

The Company’s consolidated financial statements are presented in U.S. dollars, which is the Company’s reporting currency, while the functional currency of ACM’s subsidiaries in mainland China and Korea are the Chinese Renminbi (“RMB”), and the Korean Won, respectively. Changes in the relative values of U.S. dollars and RMB affect the Company’s reported levels of revenues and profitability as the results of its operations are translated from RMB into U.S. dollars for reporting purposes. Since the Company has not engaged in any hedging activities, it cannot predict the impact of future exchange rate fluctuations on the results of its operations, and it may experience economic losses as a result of foreign currency exchange rate fluctuations.

Transactions of ACM’s subsidiaries involving foreign currencies are recorded in functional currency according to the rate of exchange prevailing on the date when the transaction occurs. The ending balances of the Company’s foreign currency accounts are converted into functional currency using the rate of exchange prevailing at the end of each reporting period. Net gains and losses resulting from foreign exchange fluctuations as marked to market at year-end are included in the consolidated statements of comprehensive income (loss).

In accordance with FASB ASC Topic 830, Foreign Currency Matters, the Company translates assets and liabilities into U.S. dollars from RMB or Korean Won using the rate of exchange prevailing at the applicable balance sheet date and the consolidated statements of comprehensive income (loss) and consolidated statements of cash flows are translated at an

average rate during the reporting period. Adjustments resulting from the translation are recorded in stockholders’ equity as part of accumulated other comprehensive income (loss).

Recently Adopted Accounting Pronouncements and Recently issued accounting pronouncements not yet adopted

Recently Adopted Accounting Pronouncements

In November 2023, the FASB issued ASU No. 2023-07, Improvements to Reportable Segment Disclosures. This ASU updates reportable segment disclosure requirements by requiring disclosures of significant reportable segment expenses that are regularly provided to the Chief Operating Decision Maker (“CODM”) and included within each reported measure of a segment's profit or loss. This ASU also requires disclosure of the title and position of the individual identified as the CODM and an explanation of how the CODM uses the reported measures of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The ASU is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Adoption of the ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is also permitted. The Company adopted ASU 2023-07 in the fourth quarter of 2024, and the adoption did not have a material impact on the Company’s financial position, results of operations and cash flows.

Recently issued accounting pronouncements not yet adopted

In December 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Retrospective application is permitted. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the provisions of this ASU.

In December 2024, the FASB issued ASU 2024-03: Income Statement--Reporting Comprehensive Income--Expense Disaggregation Disclosures (Subtopic 220-40), which requires additional disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. In January 2025, the FASB issued ASU 2025-01, which clarifies the effective date of ASU 2024-03. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. This ASU should be applied prospectively with the option to apply the standard retrospectively. The Company is currently evaluating the provisions of this ASU.

LEASES

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

LEASES

The Company leases space under non-cancelable operating leases for several office and manufacturing locations. These leases do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions.

Most leases include one or more options to renew. The Company regularly evaluates the renewal options, and when they are reasonably certain of exercise, the Company includes the renewal period in its lease term.

The Company’s leases also include a right to use state-owned land in mainland China with lease terms of 50 years expiring in 2070, for which an upfront lump-sum payment was made during the year ended December 31, 2022.

The components of lease expense were as follows:


	Year Ended December 31,
	2024		2023		2022
Operating lease cost	$	3,815	$	3,580	$	2,816
Short-term lease cost	1,790		923		786
Lease cost	$	5,605	$	4,503	$	3,602

Supplemental cash flow information related to operating leases was as follows for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
	2024		2023		2022
Operating cash outflow from operating leases	$	3,647	$	3,580	$	2,816


Operating lease right-of-use assets obtained in exchange for new operating lease liabilities			$	1,781					$	8,195					$	1,054

Maturities of lease liabilities for all operating leases were as follows as of December 31, 2024:


	December 31, 2024
2025	2,376
2026	1,607
2027	1,462
2028 and thereafter	1,118
Total lease payments	$	6,563
Less: Interest	(591)
Present value of lease liabilities	$	5,972

The weighted average remaining lease terms and discount rates for all operating leases, excluding land-use right, were as follows as of December 31, 2024 and 2023:


	December 31,
	2024		2023
Remaining lease term and discount rate:
Weighted average remaining lease term (years)	3.57		3.44
Weighted average discount rate	3.58	%	3.91	%

LONG-TERM BORROWINGS

12 Months Ended

Dec. 31, 2024

Long-Term Debt, by Current and Noncurrent [Abstract]

LONG-TERM BORROWINGS

At December 31, 2024 and 2023, long-term borrowings consisted of the following:


	December 31,
	2024		2023
Loan from China Merchants Bank	$	11,475	$	13,362
Loan from Agricultural Bank of China	13,020		—
Loans from Bank of China	28,258		5,013
Loan from Bank of Shanghai	13,920		14,120
Loans from China CITIC Bank	27,775		28,240
Loan from China Everbright Bank	55,549		—
Less: Current portion	(44,472)		(6,783)
	$	105,525	$	53,952

The loan from China Merchants Bank is for the purpose of purchasing property in Lingang, Shanghai. The loan is repayable in 120 installments with the last installment due in November 2030, with an annual interest rate of 3.65%. The loan is pledged by the property of ACM Lingang and guaranteed by ACM Shanghai.

The loan from Agricultural Bank of China is for the purpose of purchasing housing property in Lingang, Shanghai. The loan is repayable in 8 installments with the last installment due in April 2034, with an annual interest rate of 2.53%-2.78%.

Two loans from Bank of China are for the purpose of funding ACM Shanghai project expenditures. The first loan from Bank of China is for the purpose of funding ACM Shanghai's general corporate expenses and working capital. The loan bears interest at an annual rate of 2.62% and is payable in 6 installments, with the last installment due in June 2027. The second loan from Bank of China is for the purpose of funding ACM Shanghai project expenditures. The loan bears interest at an annual rate of 2.52% and are repayable in 6 installments, with the last installment due in August 2027.

The loan from Bank of Shanghai is for the purpose of funding ACM Shanghai project expenditures. The loan bears interest mainly based on the one-year People’s Bank of China (“PBOC”) benchmark interest rate of 3.45% and a predetermined margin of -0.60 basis points, resulting in an interest rate of 2.85%, and will be fully repaid in April 2025.

The first loan from China CITIC Bank is for the purpose of funding ACM Shanghai project expenditures. The loan bears interest at an annual rate of 3.10% and are repayable in 4 installments, with the last installment due in August 2025. The second loan from China CITIC bank is for the purpose of funding ACM's general corporate operation and working capital. The loan bears interest at an annual rate of 3.40% payable quarterly, and the principal amount is repayable in 4 installments, with the last installment due in December 2027.

The loans from China Everbright Bank are for the purpose of funding ACM Shanghai's general corporate operation and working capital. The first loan bears interest mainly based on the one-year PBOC benchmark interest rate of 3.95% and a predetermined margin of -1.35 basis points, resulting in an interest rate of 2.60%, and is payable in 6 installments, with the last installment due in June 2027. The second loan bears interest mainly based on the one-year PBOC benchmark interest rate of 3.35% and a predetermined margin of -0.75 basis points, resulting in an interest rate of 2.60%, and is payable in 3 installments, with the last installment due in March 2026. The third loan bears interest mainly based on the one-year PBOC benchmark interest rate of 3.10% and a predetermined margin of -0.50 basis points, resulting in an interest rate of 2.60%, and is payable in 3 installments, with the last installment due in April 2026.

As of December 31, 2024 and December 31, 2023, the total carrying amount of long-term loans was $149,997 and $60,735, compared with an estimated fair value of $141,264 and $56,638, respectively. The fair value of the long-term loans is estimated by discounting cash flows using interest rates currently available for debts with similar terms and maturities (Level 2 fair value measurement). Refer to Note 2 for an explanation of the fair value hierarchy structure.

Scheduled principal payments for the outstanding long-term loans, including the current portion, as of December 31, 2024 are as follows:


Year ending December 31,
2025	$	44,472
2026	33,758
2027	58,296
2028	7,537
Thereafter	5,934
	149,997

For the years ended December 31, 2024, 2023, and 2022 respectively, $2,933, $1,100 and $845 of interest expense related to long-term borrowings was incurred.

ACCOUNTS RECEIVABLE, NET - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Accounts receivable [Abstract]
Increase in accounts receivable	$ 103,859
Increase in revenue	$ 224,395

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Advances from customers	$ 67,050	$ 29,974	$ 104,258
First-Tools
Disaggregation of Revenue [Line Items]
Advances from customers	$ 62,581

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

ACCOUNTS RECEIVABLE, NET - Summary of Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts receivable	$ 405,392	$ 288,016
Less: Allowance for credit losses	(18,347)	(4,830)
Accounts receivable	$ 387,045	$ 283,186

SEGMENT INFORMATION (Details) $ in Thousands	12 Months Ended
SEGMENT INFORMATION (Details) $ in Thousands	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)
Segment Reporting [Abstract]
Number of reporting segments \| segment	1
Segment Reporting Information [Line Items]
Number of operating segments \| segment	1
Number of reporting segments \| segment	1
Geographic Areas, Long-Lived Assets [Abstract]
Long-lived assets	$ 307,219	$ 223,191
Mainland China
Geographic Areas, Long-Lived Assets [Abstract]
Long-lived assets	287,888	209,725
Korea
Geographic Areas, Long-Lived Assets [Abstract]
Long-lived assets	10,358	12,190
United States
Geographic Areas, Long-Lived Assets [Abstract]
Long-lived assets	$ 8,973	$ 1,276

SHORT-TERM INVESTMENTS

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

SHORT-TERM INVESTMENTS

Pursuant to an Agreement entered into on September 19, 2022 (the ‘‘Agreement’’), ACM Shanghai became a limited partner of the Nuode Asset Fund Pujiang No. 783 Single Asset Management Plan (‘‘Nuode Asset Fund’’), a Chinese limited partnership formed by Nuode Asset Management Co., Ltd, a financial services firm based in Shanghai, China. Nuode Asset Fund was formed to establish a special fund with the purpose to participate in certain technology related investments in mainland China. Subsequent to the future purchase, any investment will be held by Nuode Asset Fund and restricted for a minimum period of nine months. The limited partners of the Nuode Asset Fund contributed a $22,160 to the fund, of which ACM Shanghai contributed $4,196, or 18.75% of the contribution on September 27, 2022. In December 2022, the Nuode Asset Fund purchased shares in the secondary stock offering of a publicly traded mainland China-stock listing, and was apportioned to the limited partners in proportion to their respective capital contributions. The investments were fully-disposed by Nuode Asset Fund during the year ended December 31, 2024, and the Company received net proceeds of RMB 22,478 ($3,167).

Pursuant to a Share Purchase Agreement dated June 2023, ACM Shanghai acquired shares of Huahong Semiconductor Limited (“Huahong”) in July 2023 with amount of $13,930. The shares held by ACM Shanghai are restricted for sale for a minimum period of twelve months. Huahong completed it STAR IPO in August 2023.

Pursuant to a Share Purchase Agreement dated August 2023, ACM Shanghai acquired shares of Zhongjuxin Limited Company (“Zhongjuxin”) in September 2023 with amount of $4,179. The shares held by ACM Shanghai are restricted for sale for a minimum period of twelve months. Zhongjuxin completed it STAR IPO in September 2023. The investments were partially-disposed by ACM Shanghai and net proceeds of RMB38,464 ($5,267) were received during the year ended December 31, 2024.

Pursuant to a Share Purchase Agreement dated January 2024, ACM Shanghai acquired shares of Shanghai Syncrystalline Silicon Materials Co., Ltd. (“Syncrystalline”) in February 2024 with amount of RMB 10 million ($1,409). The shares held by ACM Shanghai are restricted for sale for a minimum period of twelve months. Syncrystalline completed its STAR IPO in February 2024. As of December 31, 2024, the Company's total investment costs in Syncrystalline were RMB20 million ($2,818), including RMB 10 million ($1,409) invested by ACM Shanghai in 2021 and RMB 10 million ($1,409) invested by ACM Shanghai in February 2024.

The components of short-term investments were as follows:


	December 31,
	2024		2023
Short-term investments listed in Shanghai Stock Exchange
Cost	$	17,731	$	20,155
Market value	$	19,373	$	21,312

For the years ended December 31, 2024, 2023 and 2022, the net gains (losses) recognized on equity securities were as follows:


	Year ended December 31
	2024		2023		2022
Unrealized gains (losses) recognized during the reporting period on short-term investment still held at December 31	$	973	$	(2,737)	$	(7,855)
Net realized gains on short-term investment sold during the period	1,788		9,047		1,116
Total net gains (losses) recognized at December 31 on short-term investment	$	2,761	$	6,310	$	(6,739)

For the years ended December 31, 2024, 2023 and 2022, the Company received proceeds of $8,434, $21,735 and $4,577 from the sale of short-term investments, respectively, including realized gains of $1,788, $9,047 and $1,116, respectively.

OTHER LONG-TERM ASSETS

12 Months Ended

Dec. 31, 2024

Other Assets, Noncurrent Disclosure [Abstract]

OTHER LONG-TERM ASSETS

At December 31, 2024 and 2023, other long-term assets consisted of the following:


	December 31,
	2024		2023
Prepayment for property, plant and equipment	$	32	$	3,380
Lease deposit	950		834
Security deposit for land use right	686		696
Prepayment for investment in Ninebell	16,737		—
Others	2,047		1,140
Total other long-term assets	$	20,452	$	6,050

LEASES - Operating Lease Supplemental Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating cash outflow from operating leases	$ 3,647	$ 3,580	$ 2,816
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,781	$ 8,195	$ 1,054

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Components of Income Before Income Tax

The following represent the U.S. and foreign components of income before income tax for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
	2024		2023		2022
U.S	$	21,282	$	10,420	$	(3,456)
Foreign	145,018		105,796		70,818
Income before income taxes	$	166,300	$	116,216	$	67,362

Components of Income Tax Benefit (Expense)

The following represent components of the income tax benefit (expense) for the years ended December 31, 2024, 2023 and 2022:

Provision


	Year Ended December 31,
	2024		2023		2022
Current:
U.S. federal	$	(483)	$	(12,757)	$	(479)
U.S. state	(2)		(150)		(18)
Total U.S. current tax benefit (expense)	(485)		(12,907)		(497)
Foreign	(29,120)		(19,696)		(11,139)
Total current tax expense	(29,605)		(32,603)		(11,636)
Deferred:
U.S. federal	(5,244)		7,316		(10,927)
U.S. state	(63)		63		8
Total U.S. deferred tax benefit (expense)	(5,307)		7,379		(10,919)
Foreign	(119)		5,860		5,757
Total deferred tax benefit	(5,426)		13,239		(5,162)
Total income tax expense	$	(35,031)	$	(19,364)	$	(16,798)

Effective Income Tax Rate

Income tax expense for the years ended December 31, 2024, 2023 and 2022 differed from the amounts computed by applying the statutory U.S. federal income tax rate of 21% to pretax income as a result of the following:


	Year Ended December 31,
	2024		2023		2022
Effective tax rate reconciliation:
Income tax provision at statutory rate	21.00	%	21.00	%	21.00	%
Stock compensation	(2.96)		(2.00)		(2.72)
Foreign rate differential	(3.27)		(10.47)		(9.43)
Other permanent difference	0.21		0.03		(0.26)
Foreign income taxed in US	3.74		7.39		19.86
Foreign research expense	(6.42)		(8.01)		(4.79)
Change in valuation allowance	8.78		8.72		1.28
Total income tax expense	21.08	%	16.66	%	24.94	%

Deferred Tax Assets

Tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets at December 31, 2024 and 2023 are presented below:


	December 31,
	2024		2023
Deferred tax assets:
Net operating loss carry forwards (offshore)	$	8,106	$	11,499
Net operating loss carry forwards (U.S.) and credit	8,653		4,930
Deferred revenue (offshore)	6,428		2,277
Accruals (U.S.)	212		3,632
Reserves and other (offshore)	6,631		4,662
Stock-based compensation (U.S.)	2,974		2,455
Stock-based compensation (offshore)	10,325		4,393
Lease liability	1,157		1,252
Total gross deferred tax assets	44,486		35,100
Less: valuation allowance	(26,516)		(11,917)
Total deferred tax assets	17,970		23,183
Deferred tax liabilities:
Property and equipment	(1,190)		(1,325)
Equity investments and unrealized gain on short-term investments	(1,999)		(1,587)
Total deferred tax liabilities	(3,189)		(2,912)
Deferred tax assets, net	$	14,781	$	20,271

Aggregate Changes in Balance of Gross Unrecognized Tax Benefits

Tax positions are evaluated in a two-step process. The Company first determines whether it is more likely than not that a tax position will be sustained upon examination. If a tax position meets the more-likely-than-not recognition threshold it is then measured to determine the amount of benefit to recognize in the financial statements. The tax position is measured as the largest amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The aggregate changes in the balance of gross unrecognized tax benefits, for the years ended December 31, 2024, 2023 and 2022 were as follows:


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	13,026	$	8,448	$	6,066
Increase of unrecognized tax benefits related to current year	2,308		4,379		2,623
Increase of unrecognized tax benefits taken in prior years	6,871		199		—
Reductions for tax positions related to prior years	(5,431)		—		(241)
Ending balance	$	16,774	$	13,026	$	8,448

SHORT-TERM BORROWINGS (Details) ₩ in Thousands, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2024 KRW (₩)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2023 KRW (₩)
Short-Term and Long-term Borrowings [Abstract]
Short-term borrowings	$ 32,814	$ 31,335
Interest expense related to short-term borrowings	$ 1,218	1,581	$ 810
Line of credit up to RMB ¥150,000 from China Everbright Bank,
Short-Term and Long-term Borrowings [Abstract]
Maximum borrowing capacity \| ¥				¥ 150,000		¥ 150,000
1)due on August 29, 2024 with an annual interest rate of 3.00%.
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	2,463
Line of credit up to RMB ¥40,000 from Bank of China,
Short-Term and Long-term Borrowings [Abstract]
Maximum borrowing capacity \| ¥				40,000		40,000
Line of Credit Due On September 7th, 2024 With An Annual Interest Rate Of 2.87%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.87%
Short-term borrowings	$ 0	5,648
Line of Credit, due on March 20, 2025 with an annual interest rate of 2.75%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.75%
Short-term borrowings	$ 16,706	0
Line of Credit, due on September 22, 2025 with an annual interest rate of 2.5%.
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.50%
Short-term borrowings	$ 5,569	0
Line of credit up to RMB ¥200,000 from China Merchants Bank,
Short-Term and Long-term Borrowings [Abstract]
Maximum borrowing capacity \| ¥				¥ 200,000		¥ 200,000
Line of Credit, China Merchants Bank, due on August 7, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 8, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 9, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 14, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 17, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 20, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 21, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 22, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 24, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 27, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 29, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on August 30, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on September 3, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,271
Line of Credit, China Merchants Bank, due on September 5, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,270
Line of Credit, China Merchants Bank, due on September 6, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,270
Line of Credit, China Merchants Bank, due on September 10, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,270
Line of Credit, China Merchants Bank, due on September 12, 2024 with an annual interest rate of 3.00%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	3.00%
Short-term borrowings	$ 0	1,270
Line Of Credit, China Merchants Bank, Due On February 27, 2025 With An Annual Interest Rate Of 2.60%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.60%
Short-term borrowings	$ 1,322	0
Line Of Credit, China Merchants Bank, Due On February 28, 2025 With An Annual Interest Rate Of 2.60%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.60%
Short-term borrowings	$ 1,322	0
Line Of Credit, China Merchants Bank, Due On March 1, 2025 With An Annual Interest Rate Of 2.60%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.60%
Short-term borrowings	$ 1,322	0
Line Of Credit, China Merchants Bank, Due On March 5, 2025 With An Annual Interest Rate Of 2.60%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.60%
Short-term borrowings	$ 1,322	0
Line Of Credit, China Merchants Bank, Due On March 8, 2025 With An Annual Interest Rate Of 2.60%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.60%
Short-term borrowings	$ 1,253	0
Line Of Credit, China Merchants Bank, Due On August 27, 2025 With An Annual Interest Rate Of 2.60%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.60%
Short-term borrowings	$ 1,322	0
Line Of Credit, China Merchants Bank, Due On September 11, 2025 With An Annual Interest Rate Of 2.60%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	2.60%
Short-term borrowings	$ 1,322	0
Line of credit up to KRW ₩500,000 from Industrial Bank of Korea,
Short-Term and Long-term Borrowings [Abstract]
Maximum borrowing capacity \| ₩					₩ 500,000		₩ 500,000
Line of Credit Due On July 12, 2024 With An Annual Interest Rate Of 6.03%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	6.03%
Short-term borrowings	$ 0	77
Line of credit up to KRW ₩2,000,000 from Industrial Bank of Korea,
Short-Term and Long-term Borrowings [Abstract]
Maximum borrowing capacity \| ₩					₩ 2,000,000		₩ 2,000,000
Line of Credit Due On December 15, 2024 With An Annual Interest Rate Of 4.29%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	4.27%
Short-term borrowings	$ 0	1,544
Line of Credit Due On December 16, 2025 With An Annual Interest Rate Of 4.43%
Short-Term and Long-term Borrowings [Abstract]
Interest rate during period	4.43%
Short-term borrowings	$ 1,354	$ 0

DESCRIPTION OF BUSINESS - Summary Of Subsidiaries (Details)	Dec. 31, 2024	Dec. 31, 2023
ACM Research (Shanghai), Inc. ("ACM Shanghai")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
ACM Research (Wuxi), Inc. ("ACM Wuxi")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
CleanChip Technologies Limited ("CleanChip")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
ACM Research Korea CO., LTD.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
ACM Research ( Lingang), Inc. ("ACM Lingang")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
ACM Research (CA), Inc. ("ACM California")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
ACM Research (Cayman), Inc.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	100.00%	100.00%
ACM Research (Singapore) PTE. Ltd. ("ACM Singapore")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	100.00%	100.00%
ACM Research (Beijing), Inc. [Member]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
Hanguk ACM CO., LTD
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	100.00%
Yusheng Micro Semiconductor (Shanghai) Co., Ltd.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%	82.10%
ACM-Wooil Microelectronics (Shanghai) Co., Ltd.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	59.00%	59.40%
ACM-Wooil Microelectronics (Shanghai) Co., Ltd.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	81.50%
Shengyi Micro Semiconductor (Shanghai) Co., Ltd.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Effective interest held	69.30%

PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT, NET

At December 31, 2024 and 2023, property, plant and equipment consisted of the following:


	December 31,
	2024		2023
Buildings and plants	$	141,410	$	83,109
Manufacturing equipment	37,038		16,556
Office equipment	5,815		4,953
Transportation equipment	396		404
Leasehold improvement	11,579		7,889
Total cost	196,238		112,911
Less: Total accumulated depreciation and amortization	(24,882)		(17,503)
Construction in progress	97,916		106,440
Total property, plant and equipment, net	$	269,272	$	201,848

Depreciation expense was $6,573, $6,912, and $4,839 for the years ended December 31, 2024, 2023, and 2022, respectively.

At December 31, 2024, buildings and plants comprised of $34,740 for Lingang housing property, $49,693 for Lingang development and production center, $49,221 for ACM Shanghai's corporate headquarters, and $7,756 for ACM's Oregon facilities, as compared to $35,264, nil, $47,845, and nil, respectively, at December 31, 2023. The Lingang housing property is pledged as security for loans from China Merchants Bank (Note 11).

Construction in progress primarily reflects costs incurred for certain facilities related to the construction of ACM Shanghai’s Lingang development and production center

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Financial Liabilities Fair Value Disclosure [Abstract]
Upward price adjustment	$ 0	$ 1,465	$ 0
Fair Value, Recurring
Financial Liabilities Fair Value Disclosure [Abstract]
Cash and cash equivalents	50,967	37,518
Short-term investments	19,373	21,312
Available-for-sale debt securities	2,584
Assets	72,924	58,830
Fair Value, Recurring \| Quoted Prices in Active Markets for Identical Liabilities (Level 1)
Financial Liabilities Fair Value Disclosure [Abstract]
Cash and cash equivalents	50,967	37,518
Short-term investments	19,373	21,312
Available-for-sale debt securities	0
Assets	70,340	58,830
Fair Value, Recurring \| Significant Other Observable Inputs (Level 2)
Financial Liabilities Fair Value Disclosure [Abstract]
Cash and cash equivalents	0	0
Short-term investments	0	0
Available-for-sale debt securities	0
Assets	0	0
Fair Value, Recurring \| Significant Unobservable Inputs (Level 3)
Financial Liabilities Fair Value Disclosure [Abstract]
Cash and cash equivalents	0	0
Short-term investments	0	0
Available-for-sale debt securities	2,584
Assets	$ 2,584	0
Fair Value, Nonrecurring
Financial Liabilities Fair Value Disclosure [Abstract]
Investments accounted for using measurement alternative		10,378
Assets		10,378
Fair Value, Nonrecurring \| Quoted Prices in Active Markets for Identical Liabilities (Level 1)
Financial Liabilities Fair Value Disclosure [Abstract]
Investments accounted for using measurement alternative		0
Assets		0
Fair Value, Nonrecurring \| Significant Other Observable Inputs (Level 2)
Financial Liabilities Fair Value Disclosure [Abstract]
Investments accounted for using measurement alternative		0
Assets		0
Fair Value, Nonrecurring \| Significant Unobservable Inputs (Level 3)
Financial Liabilities Fair Value Disclosure [Abstract]
Investments accounted for using measurement alternative		10,378
Assets		$ 10,378

INCOME TAXES - Summary of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Net operating loss carry forwards (offshore)	$ 8,106	$ 11,499
Net operating loss carry forwards (U.S.) and credit	8,653	4,930
Deferred revenue (offshore)	6,428	2,277
Accruals (U.S.)	212	3,632
Reserves and other (offshore)	6,631	4,662
Stock-based compensation (U.S.)	2,974	2,455
Stock-based compensation (offshore)	10,325	4,393
Lease liability	1,157	1,252
Total gross deferred tax assets	44,486	35,100
Less: valuation allowance	(26,516)	(11,917)
Total deferred tax assets	17,970	23,183
Deferred tax liabilities:
Property and equipment	(1,190)	(1,325)
Equity investments and unrealized gain on short-term investments	(1,999)	(1,587)
Total deferred tax liabilities	(3,189)	(2,912)
Deferred tax assets, net	$ 14,781	$ 20,271

INCOME TAXES

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

The following represent the U.S. and foreign components of income before income tax for the years ended December 31, 2024, 2023 and 2022:


	Year Ended December 31,
	2024		2023		2022
U.S	$	21,282	$	10,420	$	(3,456)
Foreign	145,018		105,796		70,818
Income before income taxes	$	166,300	$	116,216	$	67,362

The following represent components of the income tax benefit (expense) for the years ended December 31, 2024, 2023 and 2022:

Provision


	Year Ended December 31,
	2024		2023		2022
Current:
U.S. federal	$	(483)	$	(12,757)	$	(479)
U.S. state	(2)		(150)		(18)
Total U.S. current tax benefit (expense)	(485)		(12,907)		(497)
Foreign	(29,120)		(19,696)		(11,139)
Total current tax expense	(29,605)		(32,603)		(11,636)
Deferred:
U.S. federal	(5,244)		7,316		(10,927)
U.S. state	(63)		63		8
Total U.S. deferred tax benefit (expense)	(5,307)		7,379		(10,919)
Foreign	(119)		5,860		5,757
Total deferred tax benefit	(5,426)		13,239		(5,162)
Total income tax expense	$	(35,031)	$	(19,364)	$	(16,798)

The Company’s effective tax rate differs from statutory rates of 21% for U.S. federal income tax purposes and 12.5% to 25% for mainland China income tax purpose due to the effects of the valuation allowance and certain permanent differences as they pertain to book-tax differences in employee stock-based compensation and non-US research expense. A new requirement to capitalize and amortize previously deductible research and experimental expenses resulting from a change in Section 174 made by the Tax Cuts and Jobs Act of 2017 (the “TCJA”) became effective on January 1, 2022. Under the TCJA, the Company is required to capitalize, and subsequently amortize R&D expenses over fifteen years for research activities conducted outside of the U.S. The capitalization of overseas R&D expenses resulted in a significant increase in the Company’s global intangible low-taxed income inclusion beginning in 2022.

Pursuant to the Corporate Income Tax Law of mainland China, all of the Company’s mainland China subsidiaries are liable to mainland China Corporate Income Taxes at a rate of 25%, except for ACM Shanghai and ACM Lingang. According to Guoshuihan 2009 No. 203, an entity certified as an “advanced and new technology enterprise” is entitled to a preferential income tax rate of 15%. ACM Shanghai was certified as an “advanced and new technology enterprise” in 2012 and again in 2016, 2018, 2021 and 2024, effective until December 31, 2026.. In 2021, ACM Shanghai was certified as an eligible integrated circuit production enterprise and was entitled to a preferential income tax rate of 12.5% from January 1, 2020 to December 31, 2022. Certain entities which meet requirements according to the Policy of the Lingang New area in China (Shanghai) Pilot Free Trade Zone are entitled to a preferential income tax rate of 15%. ACM Lingang was certified for this in 2021, and this preferential income tax rate is valid from January 1, 2020 until December 31, 2024. The provision for mainland China corporate income tax for ACM Shanghai is calculated by applying the income tax rate of 15% for the years ended December 31, 2024 and December 31, 2023 and 12.5% for the year ended December 31, 2022.


	Year Ended December 31,
	2024		2023		2022
Effective tax rate reconciliation:
Income tax provision at statutory rate	21.00	%	21.00	%	21.00	%
Stock compensation	(2.96)		(2.00)		(2.72)
Foreign rate differential	(3.27)		(10.47)		(9.43)
Other permanent difference	0.21		0.03		(0.26)
Foreign income taxed in US	3.74		7.39		19.86
Foreign research expense	(6.42)		(8.01)		(4.79)
Change in valuation allowance	8.78		8.72		1.28
Total income tax expense	21.08	%	16.66	%	24.94	%

Tax effects of temporary differences that give rise to significant portions of the Company’s deferred tax assets at December 31, 2024 and 2023 are presented below:


	December 31,
	2024		2023
Deferred tax assets:
Net operating loss carry forwards (offshore)	$	8,106	$	11,499
Net operating loss carry forwards (U.S.) and credit	8,653		4,930
Deferred revenue (offshore)	6,428		2,277
Accruals (U.S.)	212		3,632
Reserves and other (offshore)	6,631		4,662
Stock-based compensation (U.S.)	2,974		2,455
Stock-based compensation (offshore)	10,325		4,393
Lease liability	1,157		1,252
Total gross deferred tax assets	44,486		35,100
Less: valuation allowance	(26,516)		(11,917)
Total deferred tax assets	17,970		23,183
Deferred tax liabilities:
Property and equipment	(1,190)		(1,325)
Equity investments and unrealized gain on short-term investments	(1,999)		(1,587)
Total deferred tax liabilities	(3,189)		(2,912)
Deferred tax assets, net	$	14,781	$	20,271

The Company considers all available evidence to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become realizable. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carry-forward periods), and projected taxable income in assessing the realizability of deferred tax assets. In making such judgments, significant weight is given to evidence that can be objectively verified. Based on all available evidence, a partial valuation allowance has been established against some net deferred tax assets as of December 31, 2024 and 2023, based on estimates of recoverability. In order to fully realize the deferred tax assets, the Company must generate sufficient taxable income in future periods before the expiration of the deferred tax assets governed by the tax code.

As of December 31, 2024 and 2023, the Company had valuation allowances, respectively, of $5,467 and $29 for U.S. federal purposes, $295 and $279 for U.S. state purposes and $20,209 and $11,585 for mainland China income tax purposes, and $515 and $14 for Korea income tax purposes.

As of December 31, 2024, the Company had operating loss carryforward amounts, or NOLs, of $2,030 for U.S. federal income tax purposes and $929 for U.S. state income tax purposes. As of December 31, 2023, the Company had NOLs, of $3,121 for U.S. federal income tax purposes and $593 for U.S. state income tax purposes. As of December 31, 2022, the Company had NOLs of $4,385 for U.S. federal income tax purposes and $545 for U.S. state income tax purposes.

As of December 31, 2024 and 2023, the Company had NOLs, respectively, $30,481 and $46,467 for mainland China income tax purposes and $2,339 and $64 for Korea income tax purposes. Such losses begin expiring in 2037, 2032, 2027 and 2037 for U.S. federal, U.S. state, mainland China, and Korea income tax purposes, respectively.

Under provisions of the U.S. Internal Revenue Code (the “IRC”), a limitation applies to the use of the U.S. net operating loss and credit carry-forwards that would be applicable if ACM experiences an “ownership change,” as defined in IRC Section 382. ACM conducted an analysis of its stock ownership under IRC Section 382 and $2,030 of the net operating loss carryforwards are subject to annual limitation as a result of the ownership change in 2017. The net operating loss carryforwards are not expected to expire before utilization.


	Year Ended December 31,
	2024		2023		2022
Beginning balance	$	13,026	$	8,448	$	6,066
Increase of unrecognized tax benefits related to current year	2,308		4,379		2,623
Increase of unrecognized tax benefits taken in prior years	6,871		199		—
Reductions for tax positions related to prior years	(5,431)		—		(241)
Ending balance	$	16,774	$	13,026	$	8,448

The Company is subject to taxation in the United States, state, and foreign jurisdictions. All tax returns will remain open for examination by the federal and state authorities for three and four years, respectively, from the date of utilization of any net operating loss or credits. Certain tax years are subject to foreign income tax examinations by tax authorities until the statute of limitations expire.

The Company had $16,774 and $13,026 of unrecognized tax benefits as of December 31, 2024 and 2023, respectively.

The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2024 and 2023, respectively, the Company had $2,973 and $1,667 of accrued penalties related to uncertain tax positions, all of which was recognized in the Company’s consolidated statements of comprehensive income (loss) for the year then ended. The amount of the unrecognized tax benefit that, if recognized, would impact the effective tax rate was $16,638 as of December 31, 2024. There were no ongoing examinations by taxing authorities as of December 31, 2024 or 2023.

Prior to the Tax Cuts and Jobs Act of 2017 (the "Tax Act"), the Company asserted that all unremitted earnings of its foreign subsidiaries were considered indefinitely reinvested. As a result of the Tax Act, the Company reported and paid U.S. tax on the majority of its previously unremitted foreign earnings, and repatriations of foreign earnings will generally be free of U.S. federal tax, but may incur other taxes such as withholding or state taxes. As of December 31, 2024, the Company has not made a provision for U.S. or additional foreign withholding taxes on approximately $238,605 of undistributed earnings of its foreign subsidiaries that is indefinitely reinvested. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

OTHER PAYABLES AND ACCRUED EXPENSES - Other Payables and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued commissions	$ 20,180	$ 15,572
Accrued warranty	12,710	9,834	$ 8,780	$ 6,631
Accrued payroll	21,677	14,840
Accrued professional fees	896	696
Accrued machine testing fees	1,082	1,762
Accrued machine sales fees	8,840	6,010
Individual income tax payable	11,975	12,156
Accrued Lingang construction fees	28,103	33,729
Payments for investments	4,729	0
Others	11,465	8,352
Total	$ 121,657	$ 102,951

SHORT-TERM INVESTMENTS - Summary of Short-term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Cost	$ 17,731	$ 20,155
Market value	$ 19,373	$ 21,312

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregated Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregated Revenue Information [Abstract]
Revenues	$ 782,118	$ 557,723	$ 388,832
Mainland China
Disaggregated Revenue Information [Abstract]
Revenues	775,752	540,969	377,752
Other regions
Disaggregated Revenue Information [Abstract]
Revenues	6,366	16,754	11,080
Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment
Disaggregated Revenue Information [Abstract]
Revenues	578,887	403,851	272,939
ECP (front-end and packaging), Furnace and Other Technologies
Disaggregated Revenue Information [Abstract]
Revenues	151,057	103,356	77,482
Advanced Packaging (excluding ECP), Services & Spares
Disaggregated Revenue Information [Abstract]
Revenues	$ 52,174	$ 50,516	$ 38,411

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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-Paragraph 41
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+ Details

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

SEGMENT INFORMATION

The Company identifies operating segments according to how the business activities are managed and evaluated. The Company’s chief operating decision maker (“CODM”) has been identified as ACM’s Chief Executive Officer. The Company's operating segments include ACM Research and ACM Shanghai. As the Company is engaged in the developing, manufacture and sale of capital equipment to global semiconductor manufacturers, and each of the operating segments share similar economic and other qualitative characteristics, the results of the Company’s operating segments are aggregated into one reportable segment.

For geographical reporting, revenue by geographic location is determined by the location of customers’ facilities to which products were shipped. Long-lived assets consist primarily of property, plant and equipment, other long-term assets, and right-of-use assets and are attributed to the geographic location in which they are located. Long-lived assets by geographic region as of the years ended were as follows:


	December 31,
	2024		2023
Long-lived assets by geography:
Mainland China include I.A	$	287,888	$	209,725
Korea	10,358		12,190
United States	8,973		1,276
Total	$	307,219	$	223,191

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

OTHER PAYABLES AND ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2024

Payables and Accruals [Abstract]

Other Payables and Accrued Expenses

At December 31, 2024 and 2023, other payables and accrued expenses consisted of the following:


	December 31,
	2024		2023
Accrued commissions	$	20,180	$	15,572
Accrued warranty	12,710		9,834
Accrued payroll	21,677		14,840
Accrued professional fees	896		696
Accrued machine testing fees	1,082		1,762
Accrued machine sales fees	8,840		6,010
Individual income tax payable	11,975		12,156
Accrued Lingang construction fees	28,103		33,729
Payments for investments	4,729		—
Others	11,465		8,352
Total	$	121,657	$	102,951

SHORT-TERM BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Short-Term and Long-Term Borrowings

At December 31, 2024 and December 31, 2023, short-term borrowings consisted of the following:


	December 31,
	2024		2023
Line of credit up to RMB ¥150,000 from China Everbright Bank,
1)due on August 29, 2024 with an annual interest rate of 3.00%.	—		2,463
Line of credit up to RMB ¥40,000 from Bank of China,
1)due on September 7, 2024 with an annual interest rate of 2.87%.	—		5,648
2)due on March 20, 2025 with an annual interest rate of 2.75%.	16,706		—
3)due on September 23, 2025 with an annual interest rate of 2.50%.	5,569		—
Line of credit up to RMB ¥200,000 from China Merchants Bank,
1)due on August 7, 2024 with an annual interest rate of 3.00%.	—		1,271
2)due on August 8, 2024 with an annual interest rate of 3.00%.	—		1,271
3)due on August 9, 2024 with an annual interest rate of 3.00%.	—		1,271
4)due on August 14, 2024 with an annual interest rate of 3.00%.	—		1,271
5)due on August 17, 2024 with an annual interest rate of 3.00%.	—		1,271
6)due on August 20, 2024 with an annual interest rate of 3.00%.	—		1,271
7)due on August 21, 2024 with an annual interest rate of 3.00%.	—		1,271
8)due on August 22, 2024 with an annual interest rate of 3.00%.	—		1,271
9)due on August 24, 2024 with an annual interest rate of 3.00%.	—		1,271
10)due on August 27, 2024 with an annual interest rate of 3.00%.	—		1,271
11)due on August 29, 2024 with an annual interest rate of 3.00%.	—		1,271
12)due on August 30, 2024 with an annual interest rate of 3.00%.	—		1,271
13)due on September 3, 2024 with an annual interest rate of 3.00%.	—		1,271
14)due on September 5, 2024 with an annual interest rate of 3.00%.	—		1,270
15)due on September 6, 2024 with an annual interest rate of 3.00%.	—		1,270
16)due on September 10, 2024 with an annual interest rate of 3.00%.	—		1,270
17)due on September 12, 2024 with an annual interest rate of 3.00%.	—		1,270
18)due on February 27, 2025 with an annual interest rate of 2.60%.	1,322		—
19)due on February 28, 2025 with an annual interest rate of 2.60%.	1,322		—
20)due on March 1, 2025 with an annual interest rate of 2.60%.	1,322		—
21)due on March 5, 2025 with an annual interest rate of 2.60%.	1,322		—
22)due on March 8, 2025 with an annual interest rate of 2.60%.	1,253		—
23)due on August 27, 2025 with an annual interest rate of 2.60%.	1,322		—
24)due on September 12, 2025 with an annual interest rate of 2.60%.	1,322		—
Line of credit up to KRW ₩500,000 from Industrial Bank of Korea,
1)due on July 12, 2024 with an annual interest rate of 6.03%.	—		77
Line of credit up to KRW ₩2,000,000 from Industrial Bank of Korea,
1)due on December 15, 2024 with an annual interest rate of 4.27%.	—		1,544
2)due on December 16, 2025 with an annual interest rate of 4.43%.	1,354		—
Total	$	32,814	$	31,335

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young Hua Ming LLP	Armanino LLP
Auditor Location	Shanghai, China	San Ramon, CA
Auditor Firm ID	1408	32

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Time Deposits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Time Deposits [Abstract]
Time deposits	$ 30,552	$ 121,342
Interest income	$ 1,991	3,689	$ 3,472
China Merchant Bank, Deposit, Maturing on January 29, 2024
Time Deposits [Abstract]
Time deposits, interest rate	2.85%
Time deposits	$ 0	29,797
Bank of Ningbo, Deposit, Maturing on February 17, 2024
Time Deposits [Abstract]
Time deposits, interest rate	2.85%
Time deposits	$ 0	44,630
Shanghai Pudong Development Bank, Deposit, Maturing on June 20, 2024
Time Deposits [Abstract]
Time deposits, interest rate	3.10%
Time deposits	$ 0	7,322
Shanghai Pudong Development Bank, Deposit, Redeemed on May 28, 2024
Time Deposits [Abstract]
Time deposits, interest rate	3.10%
Time deposits	$ 0	7,307
Shanghai Pudong Development Bank, Deposit, Redeemed on March 7, 2024
Time Deposits [Abstract]
Time deposits, interest rate	3.10%
Time deposits	$ 0	4,376
Shanghai Pudong Development Bank, Deposit, Redeemed on March 22, 2024
Time Deposits [Abstract]
Time deposits, interest rate	3.10%
Time deposits	$ 0	4,373
Shanghai Pudong Development Bank, Deposit, Redeemed On January 29, 2024
Time Deposits [Abstract]
Time deposits, interest rate	3.10%
Time deposits	$ 0	2,912
China Industrial Bank, Deposit, Maturing on January 30, 2026
Time Deposits [Abstract]
Time deposits, interest rate	3.15%
Time deposits	$ 13,275	14,528
China Merchant Bank, Deposit, Matured on January 5, 2024
Time Deposits [Abstract]
Time deposits, interest rate	5.38%
Time deposits	$ 0	3,079
China Everbright Bank, Deposit, Matured on May 22, 2024
Time Deposits [Abstract]
Time deposits, interest rate	5.38%
Time deposits	$ 0	3,018
China Everbright Bank, Deposit, Maturing on January 9, 2025
Time Deposits [Abstract]
Time deposits, interest rate	5.214%
Time deposits	$ 10,247	0
China Everbright Bank, Deposit, Maturing on May 25, 2025
Time Deposits [Abstract]
Time deposits, interest rate	4.43%
Time deposits	$ 7,030	$ 0

LONG-TERM INVESTMENTS - Schedule of Long Term Investments (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 30, 2024	Jan. 22, 2024 USD ($)	Jan. 22, 2024 CNY (¥)	Jan. 19, 2024 USD ($)	Jan. 19, 2024 CNY (¥)	Jan. 12, 2024 USD ($)	Jan. 12, 2024 CNY (¥)	Dec. 31, 2023 USD ($)	Nov. 01, 2023 USD ($)	Nov. 01, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CNY (¥)	Sep. 25, 2023 USD ($)	Sep. 25, 2023 CNY (¥)	Aug. 17, 2022 USD ($)	Oct. 29, 2021 USD ($)	Jun. 27, 2019 USD ($)	Sep. 11, 2017
Long-Term Investment [Line Items]
Long-term investments (note 13)	$ 37,063									$ 27,880
Equity investee:
Long-Term Investment [Line Items]
Long-term investments (note 13)	20,544									17,502
Ninebell
Long-Term Investment [Line Items]
Ownership percentage																				20.00%
Ninebell \| Equity investee:
Long-Term Investment [Line Items]
Long-term investments (note 13)	7,862									5,632
Wooil
Long-Term Investment [Line Items]
Ownership percentage																	20.00%
Investment - equity method																	$ 1,000
Wooil \| Equity investee:
Long-Term Investment [Line Items]
Long-term investments (note 13)	936									1,003
Hefei Shixi \| Equity investee:
Long-Term Investment [Line Items]
Long-term investments (note 13)	4,798									9,174
Shengyi
Long-Term Investment [Line Items]
Ownership percentage																			14.00%
Investment - equity method													$ 900	¥ 6,100					$ 109
Shengyi \| Equity investee:
Long-Term Investment [Line Items]
Long-term investments (note 13)	2,775									1,693
Shengyi \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	$ 845									857
Company D
Long-Term Investment [Line Items]
Ownership percentage	14.28%	14.28%	16.67%			16.67%	16.67%
Investment - equity method						$ 4,230	¥ 30,000
Company D \| Equity investee:
Long-Term Investment [Line Items]
Long-term investments (note 13)	$ 4,173									0
Waferworks
Long-Term Investment [Line Items]
Ownership percentage																		0.25%
Investment - equity method																		$ 1,568
Waferworks \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	0									1,412
Company A
Long-Term Investment [Line Items]
Ownership percentage															4.37%	4.37%
Investment - equity method															$ 4,230	¥ 30,000
Company A \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	$ 4,173									4,236
Company B
Long-Term Investment [Line Items]
Ownership percentage	1.19%	1.19%									1.19%	1.19%
Investment - equity method											$ 930	¥ 6,600
Company B \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	$ 918									932
Company C
Long-Term Investment [Line Items]
Ownership percentage								5.04%	5.04%
Investment - equity method								$ 1,760	¥ 12,500
Company C \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	1,739									0
Company E
Long-Term Investment [Line Items]
Ownership percentage				0.64%	0.64%
Investment - equity method				$ 1,430	¥ 10,000
Company E \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	1,391									0
Company F
Long-Term Investment [Line Items]
Ownership percentage			2.91%
Company F \| Investments accounted for under available-for-sale debt securities
Long-Term Investment [Line Items]
Long-term investments (note 13)	1,391									0
Company G
Long-Term Investment [Line Items]
Ownership percentage			2.91%
Company G \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	4,173									0
Other \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	696									2,941
Other \| Investments accounted for under available-for-sale debt securities
Long-Term Investment [Line Items]
Long-term investments (note 13)	1,193									0
Subtotal Measurement Alternative \| Investments accounted for using measurement alternative:
Long-Term Investment [Line Items]
Long-term investments (note 13)	$ 13,935									$ 10,378
Common Stock Class A \| Ninebell
Long-Term Investment [Line Items]
Ownership percentage	20.00%	20.00%
Investment - equity method	$ 1,200
Common Stock Class A \| Wooil
Long-Term Investment [Line Items]
Ownership percentage	20.00%	20.00%
Investment - equity method	$ 1,000
Common Stock Class A \| Hefei Shixi
Long-Term Investment [Line Items]
Ownership percentage	10.00%	10.00%
Investment - equity method	$ 4,200	¥ 30,000
Common Stock Class A \| Shengyi
Long-Term Investment [Line Items]
Ownership percentage	14.00%	14.00%
Investment - equity method	$ 109
Common Stock Class A \| Company D
Long-Term Investment [Line Items]
Ownership percentage	16.67%	16.67%
Investment - equity method	$ 4,230	¥ 30,000
Common Stock Class A \| Waferworks
Long-Term Investment [Line Items]
Ownership percentage	0.25%	0.25%
Investment - equity method	$ 1,568
Common Stock Class A \| Shengyi
Long-Term Investment [Line Items]
Ownership percentage	1.00%	1.00%
Investment - equity method	$ 900	¥ 6,100
Common Stock Class A \| Company A
Long-Term Investment [Line Items]
Ownership percentage	4.37%	4.37%
Investment - equity method	$ 4,230	¥ 30,000
Common Stock Class A \| Company B
Long-Term Investment [Line Items]
Ownership percentage	1.19%	1.19%
Investment - equity method	$ 930	¥ 6,600
Common Stock Class A \| Company C
Long-Term Investment [Line Items]
Ownership percentage	5.04%	5.04%
Investment - equity method	$ 1,760	¥ 12,500
Common Stock Class A \| Company E
Long-Term Investment [Line Items]
Ownership percentage	0.64%	0.64%
Investment - equity method	$ 1,430	¥ 10,000
Common Stock Class A \| Company F
Long-Term Investment [Line Items]
Ownership percentage	16.67%	16.67%
Investment - equity method	$ 1,391	¥ 10,000
Common Stock Class A \| Company G
Long-Term Investment [Line Items]
Ownership percentage	2.91%	2.91%
Investment - equity method	$ 4,173	¥ 30,000

INCOME TAXES - Summary of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax provision at statutory rate	21.00%	21.00%	21.00%
Stock compensation	(2.96%)	(2.00%)	(2.72%)
Foreign rate differential	(3.27%)	(10.47%)	(9.43%)
Other permanent difference	0.21%	0.03%	(0.26%)
Foreign income taxed in US	3.74%	7.39%	19.86%
Foreign research expense	(6.42%)	(8.01%)	(4.79%)
Change in valuation allowance	8.78%	8.72%	1.28%
Total income tax expense	21.08%	16.66%	24.94%

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 407,445	$ 182,090	$ 247,951
Accounts receivable	387,045	283,186
Prepaid expenses	7,507	20,023
Total current assets	1,483,379	1,176,110
Property, plant and equipment, net (note 6)	269,272	201,848
Deferred tax assets (note 18)	14,781	20,271
Total assets	1,855,721	1,490,908
Liabilities and Equity
Long-term borrowings (note 11)	105,525	53,952
Income taxes payable	12,779	6,401
FIN-48 payable	19,466	12,149
Total liabilities	759,815	564,746
Total equity	1,095,906	926,162	$ 812,171	$ 811,665
Total liabilities and equity	1,855,721	1,490,908
Related Party
Current assets:
Other receivables	1,024	2,432
Liabilities and Equity
Accounts payable	16,133	11,407
Nonrelated Party
Current assets:
Other receivables	41,859	40,065
Liabilities and Equity
Accounts payable	139,294	141,814
Parent Company
Current assets:
Cash and cash equivalents	54,764	41,616
Accounts receivable	2	988
Prepaid expenses	479	385
Total current assets	70,737	51,968
Property, plant and equipment, net (note 6)	4,610	20,271
Deferred tax assets (note 18)	7,990	134
Investment in consolidated subsidiaries and equity method investees	844,507	733,382
Total assets	927,844	805,755
Liabilities and Equity
Long-term borrowings (note 11)	13,882	14,120
Accounts payable	391	524
Other payables	8,098	5,176
Income taxes payable	0	6,402
FIN-48 payable	848	12,149
Total liabilities	23,219	38,371
Total equity	904,625	767,384
Total liabilities and equity	927,844	805,755
Parent Company \| Related Party
Current assets:
Other receivables	6,554	3,176
Parent Company \| Nonrelated Party
Current assets:
Other receivables	$ 8,938	$ 5,803

ACCOUNTS RECEIVABLE, NET - Summary of Allowance For Doubtful Accounts (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance	$ (4,830)		$ 0
Cumulative effect of change in accounting principle under ASC 326, before tax, as of January 1, 2023	18,347		4,830
Provision for credit loss	(13,517)		(2,731)
Ending balance	$ (18,347)		$ (4,830)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Beginning balance \| ¥		¥ 2,099
Cumulative effect of change in accounting principle under ASC 326, before tax, as of January 1, 2023 \| ¥
Ending balance \| ¥

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company leases offices and manufacturing locations under non-cancelable operating lease agreements. See note 11 for future minimum lease payments under non-cancelable operating lease agreements with initial terms of one year or more. As of December 31, 2024, the Company had $6,391 of open commitments to construction contracts. Covenants in ACM Lingang’s Grant Contract for State-owned Construction Land Use Right in Shanghai City (Category of R&D Headquarters and Industrial Projects) with the China (Shanghai) Pilot Free Trade Zone Lingang Special Area Administration require, among other things, that ACM Lingang pay liquidated damages in the event that (a) it does not make a total investment (including the costs of construction, fixtures, equipment and grant fees) of at least RMB 450.0 million ($63,400) or (b) within six years after the land use right is obtained, the Company does not (i) generate a minimum specified amount of annual sales of products manufactured on the granted land or (ii) pay to mainland China at least RMB 157.6 million ($22,000) in annual total taxes (including value-added taxes, corporate income tax, personal income taxes, urban maintenance and construction taxes, education surcharges, stamp taxes, and vehicle and shipping taxes) as a result of operations in connection with the granted land. As of December 31, 2024 and December 31, 2023, the Company had incurred in total $156,205 and $116,932, respectively for its Lingang-related investments. In the normal course of business, the Company is subject to contingencies, including legal proceedings and environmental claims arising out of the normal course of businesses that relate to a wide range of matters, including among others, contracts breach liability. The Company records accruals for such contingencies based upon the assessment of the probability of occurrence and, where determinable, an estimate of the liability. Management may consider many factors in making these assessments including past history, scientific evidence and the specifics of each matter. Some of these contingencies involve claims that are subject to substantial uncertainties and unascertainable damages. The Company’s management has evaluated all such proceedings and claims that existed as of December 31, 2024 and 2023. In the opinion of management, no provision for liability nor disclosure was required as of December 31, 2024 related to any claim against the Company because: (a) there is not a reasonable possibility that a loss exceeding amounts already recognized (if any) may be incurred with respect to such claim; (b) a reasonably possible loss or range of loss cannot be estimated; or (c) such estimate is immaterial. As of December 31, 2024, the Company had no outstanding legal proceedings.

SHORT-TERM BORROWINGS

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

SHORT-TERM BORROWINGS

At December 31, 2024 and December 31, 2023, short-term borrowings consisted of the following:


	December 31,
	2024		2023
Line of credit up to RMB ¥150,000 from China Everbright Bank,
1)due on August 29, 2024 with an annual interest rate of 3.00%.	—		2,463
Line of credit up to RMB ¥40,000 from Bank of China,
1)due on September 7, 2024 with an annual interest rate of 2.87%.	—		5,648
2)due on March 20, 2025 with an annual interest rate of 2.75%.	16,706		—
3)due on September 23, 2025 with an annual interest rate of 2.50%.	5,569		—
Line of credit up to RMB ¥200,000 from China Merchants Bank,
1)due on August 7, 2024 with an annual interest rate of 3.00%.	—		1,271
2)due on August 8, 2024 with an annual interest rate of 3.00%.	—		1,271
3)due on August 9, 2024 with an annual interest rate of 3.00%.	—		1,271
4)due on August 14, 2024 with an annual interest rate of 3.00%.	—		1,271
5)due on August 17, 2024 with an annual interest rate of 3.00%.	—		1,271
6)due on August 20, 2024 with an annual interest rate of 3.00%.	—		1,271
7)due on August 21, 2024 with an annual interest rate of 3.00%.	—		1,271
8)due on August 22, 2024 with an annual interest rate of 3.00%.	—		1,271
9)due on August 24, 2024 with an annual interest rate of 3.00%.	—		1,271
10)due on August 27, 2024 with an annual interest rate of 3.00%.	—		1,271
11)due on August 29, 2024 with an annual interest rate of 3.00%.	—		1,271
12)due on August 30, 2024 with an annual interest rate of 3.00%.	—		1,271
13)due on September 3, 2024 with an annual interest rate of 3.00%.	—		1,271
14)due on September 5, 2024 with an annual interest rate of 3.00%.	—		1,270
15)due on September 6, 2024 with an annual interest rate of 3.00%.	—		1,270
16)due on September 10, 2024 with an annual interest rate of 3.00%.	—		1,270
17)due on September 12, 2024 with an annual interest rate of 3.00%.	—		1,270
18)due on February 27, 2025 with an annual interest rate of 2.60%.	1,322		—
19)due on February 28, 2025 with an annual interest rate of 2.60%.	1,322		—
20)due on March 1, 2025 with an annual interest rate of 2.60%.	1,322		—
21)due on March 5, 2025 with an annual interest rate of 2.60%.	1,322		—
22)due on March 8, 2025 with an annual interest rate of 2.60%.	1,253		—
23)due on August 27, 2025 with an annual interest rate of 2.60%.	1,322		—
24)due on September 12, 2025 with an annual interest rate of 2.60%.	1,322		—
Line of credit up to KRW ₩500,000 from Industrial Bank of Korea,
1)due on July 12, 2024 with an annual interest rate of 6.03%.	—		77
Line of credit up to KRW ₩2,000,000 from Industrial Bank of Korea,
1)due on December 15, 2024 with an annual interest rate of 4.27%.	—		1,544
2)due on December 16, 2025 with an annual interest rate of 4.43%.	1,354		—
Total	$	32,814	$	31,335

For the years ended December 31, 2024, 2023 and 2022, interest expense related to short-term borrowings amounted to $1,218, $1,581, and $810, respectively.

OTHER LONG-TERM LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Long-term Liabilities [Abstract]
Other long-term liabilities	$ 9,217	$ 5,873
Subsidies commenced in 2020 and prior
Other Long-term Liabilities [Abstract]
Other long-term liabilities	699	1,107
Subsidies to Lingang R&D development in 2021
Other Long-term Liabilities [Abstract]
Other long-term liabilities	7,350	3,467
Other
Other Long-term Liabilities [Abstract]
Other long-term liabilities	$ 1,168	$ 1,299

LEASES - Maturities of Operating Leases Outstanding Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 2,376
2026	1,607
2027	1,462
2028 and thereafter	1,118
Total lease payments	6,563
Less: Interest	(591)
Present value of lease liabilities	$ 5,972

ACCOUNTS RECEIVABLE, NET

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

ACCOUNTS RECEIVABLE, NET

At December 31, 2024 and 2023, accounts receivable, net consisted of the following:


	December 31,
	2024		2023
Accounts receivable	$	405,392	$	288,016
Less: Allowance for credit losses	(18,347)		(4,830)
Total	$	387,045	$	283,186

The $103,859 increase in accounts receivable, net for the year ended December 31, 2024 corresponds to a $224,395 increase in revenue for the same period.


	December 31,
	2024		2023
Allowance for credit losses, before tax, at beginning of the year	$	(4,830)	$	—
Cumulative effect of change in accounting principle under ASC 326, before tax, as of January 1, 2023	—		(2,099)
Provision for credit loss	(13,517)		(2,731)
Allowance for credit losses, before tax, at the end of the year	$	(18,347)	$	(4,830)

The Company assesses collectability by reviewing accounts receivable on a general basis where similar characteristics exist and on an individual basis when the Company identifies specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company considers historical collectability based on past due status, the age of the accounts receivable balances, credit quality of the Company’s customers based on ongoing credit evaluations, current economic conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect the Company’s ability to collect from customers.

RELATED PARTY BALANCES AND TRANSACTIONS

12 Months Ended

Dec. 31, 2024

RELATED PARTY BALANCES AND TRANSACTIONS

Ninebell

Ninebell is an equity investee of ACM (Note 13) and is the Company’s principal supplier of robotic delivery system subassemblies used in our single-wafer cleaning equipment. The Company purchases inventories from Ninebell for production in the ordinary course of business. The Company pays for a portion of the inventories in advance and is obligated for the remaining amounts upon receipt of the product.

Shengyi

Shengyi is an equity investee of ACM Shanghai (Note 13) and is one of the Company’s component suppliers in mainland China. The Company purchases components from Shengyi for production in the ordinary course of business. The Company incurs a service fee related to installation and hook-up fees which is recorded within cost of revenue on the Company’s consolidated statements of comprehensive income (loss). The Company pays for a portion of the raw materials in advance and is obligated for the remaining amounts upon receipt of the product.

All related party outstanding balances are short-term in nature and are expected to be settled in cash.

The following tables represent related party transactions with the equity investees as of December 31, 2024 and 2023:


	December 31,
Advances to related party	2024		2023
Ninebell	$	1,024	$	2,432


	December 31,
Accounts payable	2024		2023
Ninebell	$	10,830	$	7,624
Shengyi	5,303		3,783
Total	$	16,133	$	11,407


	Year Ended December 31
Purchase of materials	2024		2023		2022
Ninebell	$	53,792	$	42,737	$	40,985
Shengyi	6,794		5,006		5,350
Total	$	60,586	$	47,743	$	46,335


	Year Ended December 31
Service fee charged by	2024		2023		2022
Shengyi	$	595	$	820	$	543
Total	$	595	$	820	$	543

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

DESCRIPTION OF BUSINESS (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Direct or Indirect Interests of Subsidiaries

The Company has direct or indirect interests in the following subsidiaries:


	Place and date of incorporation	Principal Activities	Effective interest held as at December 31,
Name of subsidiaries			2024		2023
ACM Research (Shanghai), Inc. ("ACM Shanghai")	Mainland China, May 2005	Principal operating subsidiary	81.5	%	82.1	%
ACM Research (Wuxi), Inc. ("ACM Wuxi")	Mainland China, July 2011	Sales and services	81.5	%	82.1	%
CleanChip Technologies Limited ("CleanChip")	Hong Kong, June 2017	Trading partner between ACM Shanghai and its customers	81.5	%	82.1	%
ACM Research Korea CO., LTD.	Korea, December 2017	Sales, marketing, R&D, production	81.5	%	82.1	%
ACM Research ( Lingang), Inc. ("ACM Lingang") (1)	Mainland China, March 2019	Management of production activities	81.5	%	82.1	%
ACM Research (CA), Inc. ("ACM California")	USA, April 2019	Procurement for ACM Shanghai	81.5	%	82.1	%
ACM Research (Cayman), Inc.	Cayman Islands, April 2019	Administrative function (inactive)	100.0	%	100.0	%
ACM Research (Singapore) PTE. Ltd. ("ACM Singapore")	Singapore, August 2021	Sales, marketing, business development	100.0	%	100.0	%
ACM Research (Beijing), Inc. ("ACM Beijing")	Mainland China, February 2022	Sales and services	81.5	%	82.1	%
Hanguk ACM CO., LTD	Korea, March 2022	Sales, services, business development	81.5	%	100.0	%
Yusheng Micro Semiconductor (Shanghai) Co., Ltd.	Mainland China, June 2023	Business development	81.5	%	82.1	%
ACM-Wooil Microelectronics (Shanghai) Co., Ltd.	Mainland China, June 2023	Component development and production	59.0	%	59.4	%
ACM Research (Chengdu), Inc. ("ACM Chengdu")	Mainland China, December 2024	Component development and production	81.5	%	N/A
Shengyi Micro Semiconductor (Shanghai) Co., Ltd.	Mainland China, December 2024	Sales and services	69.3	%	N/A

STOCK-BASED COMPENSATION - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	$ 49,576	$ 27,338	$ 7,730
Employee stock option plan
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	10,469	6,213	7,346
Employee stock option plan \| ACM Research (Shanghai), Inc. ("ACM Shanghai")
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	39,077	21,079	338
Non-employee stock option plan
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	30	46	46
Cost of revenue
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	2,385	1,406	520
Sales and marketing expense
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	10,552	5,684	1,877
Research and development expense
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	14,112	8,459	2,565
General and administrative expense
Stock-based Compensation Expense [Abstract]
Share-based compensation expense	$ 22,527	$ 11,789	$ 2,768

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Government Subsidies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Government Subsidies [Abstract]
Subsidies recognized as reductions of relevant expenses	$ 462	$ 1,740	$ 1,201
Subsidies recognized as other income	$ 2,018	$ 533	$ 306

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Long-Lived Assets by Geographic Region

Long-lived assets by geographic region as of the years ended were as follows:


	December 31,
	2024		2023
Long-lived assets by geography:
Mainland China include I.A	$	287,888	$	209,725
Korea	10,358		12,190
United States	8,973		1,276
Total	$	307,219	$	223,191

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION - Condensed Statements of Operations (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Income Statement [Abstract]
Revenue (note 3)	$ 782,118		$ 557,723	$ 388,832
Cost of revenue	(390,564)		(281,508)	(205,217)
Gross profit	391,554		276,215	183,615
Operating expenses:
Sales and marketing expenses	(65,447)		(47,019)	(39,889)
General and administrative expenses	(69,636)		(40,648)	(22,465)
Loss from operations	150,998		95,839	59,035
Equity in earnings of consolidated subsidiaries and equity method investees	423		9,952	4,666
Interest income	9,935		8,354	8,740
Interest expense	(4,151)		(2,681)	(1,655)
Other income (expense), net	6,334		(1,558)	3,315
Income before income taxes	166,300		116,216	67,362
Income tax (expense) benefit	(35,031)		(19,364)	(16,798)
Net income attributable to ACM Research, Inc.	103,627		77,349	39,263
Net income	103,627		77,349	39,263
Foreign currency translation adjustment, net of tax	(15,728)		(10,617)	(59,102)
Unrealized gain on available-for-sale investments	428	¥ 428	0	0
Comprehensive income (loss) attributable to ACM Research, Inc.	89,604		68,546	(10,392)
Parent Company
Income Statement [Abstract]
Revenue (note 3)	2,576		6,354	569
Cost of revenue	(132)		(4,336)	0
Gross profit	2,444		2,018	569
Operating expenses:
Sales and marketing expenses	(6,909)		(4,715)	(3,193)
General and administrative expenses	(10,331)		(7,840)	(5,421)
Loss from operations	(14,796)		(10,537)	(8,045)
Equity in earnings of consolidated subsidiaries and equity method investees	87,916		73,707	32,145
Interest income	2,094		799	57
Interest expense	(560)		(66)	(7)
Other income (expense), net	34,684		18,476	2,148
Income before income taxes	109,338		82,379	26,298
Income tax (expense) benefit	5,711		5,030	(12,965)
Net income attributable to ACM Research, Inc.	103,627		77,349	39,263
Net income	103,627		77,349	39,263
Foreign currency translation adjustment, net of tax	(14,373)		(8,803)	(49,655)
Unrealized gain on available-for-sale investments	350		0	0
Comprehensive income (loss) attributable to ACM Research, Inc.	$ 89,604		$ 68,546	$ (10,392)

INCOME TAXES - Summary of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Aggregate Changes in Balance of Gross Unrecognized Tax Benefits [Abstract]
Beginning balance	$ 13,026	$ 8,448	$ 6,066
Increase of unrecognized tax benefits taken in prior years	6,871	199	0
Increase of unrecognized tax benefits related to current year	2,308	4,379	2,623
Reductions for tax positions related to prior years	(5,431)	0	(241)
Ending balance	$ 16,774	$ 13,026	$ 8,448

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

OTHER LONG-TERM ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Assets, Noncurrent Disclosure [Abstract]
Prepayment for property, plant and equipment	$ 32	$ 3,380
Lease deposit	950	834
Security deposit for land use right	686	696
Prepayment for investment in Ninebell	16,737	0
Others	2,047	1,140
Total other long-term assets	$ 20,452	$ 6,050

STOCK-BASED COMPENSATION - Share Option Activities (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee stock option plan
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)	9,998,637	9,211,641	8,402,247
Granted (in shares)	461,000	2,230,500	1,653,300
Exercised (in shares)	(1,523,619)	(1,080,952)	(416,546)
Forfeited/cancelled (in shares)	(84,423)	(362,552)	(427,360)
Outstanding, end of period (in shares)	8,851,595	9,998,637	9,211,641	8,402,247
Vested and exercisable (in shares)	5,528,459
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 5.15	$ 3.58	$ 2.45
Granted (in dollars per share)	15.31	10.38	10.31
Exercised (in dollars per share)	1.91	0.90	1.20
Forfeited/cancelled (in dollars per share)	11.47	11.24	11.41
Outstanding at end of period (in dollars per share)	6.18	5.15	3.58	$ 2.45
Vested and exercisable (in dollars per share)	4.73
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)	9.47	8.24	5.88
Granted (in dollars per share)	20.69	13.91	22.41
Exercised (in dollars per share)	4.10	2.28	2.97
Forfeited/cancelled (in dollars per share)	24.29	22.92	25.24
Outstanding, end of period (in dollars per share)	10.84	$ 9.47	$ 8.24	$ 5.88
Vested and exercisable (in dollars per share)	$ 9.23
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term	5 years 9 months 21 days	6 years 2 months 1 day	6 years 4 months 9 days	6 years 6 months 10 days
Vested and exercisable (in years)	4 years 9 months 21 days
Unrecognized employee stock-based compensation expense	$ 23,133
Cost not yet recognized	3 years 3 months 18 days
Intrinsic value	$ 35,675	$ 15,457	$ 6,429
Outstanding intrinsic value	53,004
Intrinsic value, exercisable	42,841
Vested, fair value	$ 26,137	$ 18,378	$ 13,137
Employee stock option plan \| ACM Research (Shanghai), Inc. ("ACM Shanghai") \| 2019 Stock Option Incentive Plan
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)	3,134,883	5,377,500	5,377,500
Exercised (in shares)	(3,033,344)	(2,150,309)
Forfeited/cancelled (in shares)	(101,539)	(92,308)	0
Outstanding, end of period (in shares)	0	3,134,883	5,377,500	5,377,500
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 0.24	$ 0.23	$ 0.24
Exercised (in dollars per share)	0.20	0.20
Forfeited/cancelled (in dollars per share)	0.20	0.22	0
Outstanding at end of period (in dollars per share)	0	0.24	0.23	$ 0.24
Vested and exercisable (in dollars per share)	0
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)	1.85	1.93	2.04
Exercised (in dollars per share)	1.83	1.85
Forfeited/cancelled (in dollars per share)	1.83	1.85	0
Outstanding, end of period (in dollars per share)	0	$ 1.85	$ 1.93	$ 2.04
Vested and exercisable (in dollars per share)	$ 0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term	0 years	10 months 6 days	1 year 9 months 3 days	2 years 6 months
Vested and exercisable (in years)	0 years
Intrinsic value	$ 25,946	$ 31,144	$ 0
Vested, fair value	$ 0	$ 99	$ 568
Employee stock option plan \| ACM Research (Shanghai), Inc. ("ACM Shanghai") \| 2023 Stock Option Incentive Plan
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)	10,575,500	0
Granted (in shares)	1,391,000	10,648,500
Forfeited/cancelled (in shares)	(362,190)	(73,000)
Outstanding, end of period (in shares)	11,604,310	10,575,500	0
Vested and exercisable (in shares)		2,559,435
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 9.49	$ 0
Granted (in dollars per share)	6.04	9.49
Forfeited/cancelled (in dollars per share)	9.08	9.49
Outstanding at end of period (in dollars per share)	9.01	9.49	$ 0
Vested and exercisable (in dollars per share)	8.50
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)	7.06	0
Granted (in dollars per share)	7.00	7.06
Forfeited/cancelled (in dollars per share)	7.00	7.06
Outstanding, end of period (in dollars per share)	7.00	$ 7.06	$ 0
Vested and exercisable (in dollars per share)	$ 6.99
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term	2 years 5 months 23 days	3 years 1 month 2 days	0 years
Vested and exercisable (in years)	7 months 2 days
Intrinsic value	$ 20,712	$ 0
Outstanding intrinsic value	$ 62,244	$ 81,981
Non-employee stock option plan
Number of Option Share [Roll Forward]
Outstanding, beginning of period (in shares)	1,170,795	1,483,658	2,067,018
Exercised (in shares)	(379,094)	(299,934)	(563,808)
Forfeited/cancelled (in shares)	(7,569)	(12,929)	(19,552)
Outstanding, end of period (in shares)	784,132	1,170,795	1,483,658	2,067,018
Vested and exercisable (in shares)	784,132
Weighted Average Grant Date Fair Value [Abstract]
Outstanding at beginning of period (in dollars per share)	$ 0.42	$ 0.38	$ 0.33
Exercised (in dollars per share)	0.22	0.24	0.21
Forfeited/cancelled (in dollars per share)	0.22	0.22	0.21
Outstanding at end of period (in dollars per share)	0.52	0.42	0.38	$ 0.33
Vested and exercisable (in dollars per share)	0.52
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)	1.31	1.15	0.97
Exercised (in dollars per share)	0.57	0.55	0.51
Forfeited/cancelled (in dollars per share)	0.50	0.50	0.48
Outstanding, end of period (in dollars per share)	1.68	$ 1.31	$ 1.15	$ 0.97
Vested and exercisable (in dollars per share)	$ 1.68
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Term	2 years 1 month 13 days	2 years 7 months 28 days	3 years 8 months 4 days	3 years 11 months 23 days
Vested and exercisable (in years)	2 years 1 month 13 days
Intrinsic value	$ 7,901	$ 3,796	$ 9,110
Outstanding intrinsic value	10,523
Intrinsic value, exercisable	10,523
Vested, fair value	408	479	501
Non-employee stock option plan \| ACM Research (Shanghai), Inc. ("ACM Shanghai")
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract]
Unrecognized employee stock-based compensation expense	$ 40,490
Cost not yet recognized	1 year 6 months
Vested, fair value	$ 21,748	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation and Principles of Consolidation

Use of Estimates

Management evaluates these estimates and assumptions on a regular basis. Actual results could differ from those estimates and assumptions.

Cash and Cash Equivalents

The following table presents cash and cash equivalents, according to jurisdiction as of December 31, 2024 and 2023:


	December 31,
	2024		2023
United States	$	56,308	$	43,614
Mainland China	94,701		70,418
China Hong Kong	255,853		64,057
Korea	516		3,934
Singapore	67		67
Total	$	407,445	$	182,090

The amounts in mainland China do not include short-term and long-term time deposits which in aggregate totaled $30,552 and $121,342 at December 31, 2024 and 2023, respectively.

Cash held in the U.S. exceeds the Federal Deposit Insurance Corporation (“FDIC”) insurance limits and is subject to risk of loss. No losses have been experienced to date.

ACM California periodically procures goods and services on behalf of ACM Shanghai. For these transactions, ACM Shanghai makes cash payments to ACM California in accordance with applicable transfer pricing arrangements. For the years ended December 31, 2024, 2023 and 2022, cash payments from ACM Shanghai to ACM California for the procurement of goods and services were $21.3 million, $42.5 million and $30.2 million, respectively. ACM California periodically borrows funds for working capital advances from its direct parent, CleanChip. ACM California repays or renews these intercompany loans in accordance with their terms.

For sales through CleanChip and ACM Research, a certain amount of sales or advance payments from customer proceeds is repatriated back to ACM Shanghai, a subsidiary, in accordance with applicable transfer pricing arrangements in the ordinary course of business. ACM Research provides services to certain customers located in the U.S., Europe and other regions outside of mainland China to support the evaluation of first tools and provide support for tools under warranty on behalf of ACM Shanghai. For these transactions, ACM Shanghai makes cash payments to ACM Research in accordance with applicable transfer pricing arrangements.

For the years ended December 31, 2024, 2023 and 2022, ACM Shanghai paid $28,480, $19,200, and nil in dividends to ACM Research, respectively.

Amounts held in Korea exceed the Korea Deposit Insurance Corporation (“KDIC”) insurance limits and are subject to risk of loss. No losses have been experienced to date. There is no additional restriction for the transfer of cash from bank accounts in the U.S., Korea, Singapore and Hong Kong.

For the years ended December 31, 2024, 2023 and 2022, with the exception of sales and services-related transfer-pricing payments in the ordinary course of business, and dividends paid by ACM Shanghai to the stockholders of ACM Shanghai (including ACM Research), no transfers, or distributions have been made between ACM Research and its subsidiaries, including ACM Shanghai, or to holders of ACM Research Class A common stock.

Time Deposits

based on their expected time of collection. They are also subject to the risk control regulatory standards described above upon maturity.

At December 31, 2024 and December 31, 2023, time deposits consisted of the following:


	December 31,
	2024		2023
Deposit in China Merchant Bank which was redeemed on January 29, 2024 with an annual interest rate of 2.85%	$	—	$	29,797
Deposit in Bank of Ningbo which was redeemed on February 17, 2024 with an annual interest rate of 2.85%	—		44,630
Deposit in Shanghai Pudong Development Bank which was redeemed on June 20, 2024 with an annual interest rate of 3.10%	—		7,322
Deposit in Shanghai Pudong Development Bank which was redeemed on May 28, 2024 with an annual interest rate of 3.10%	—		7,307
Deposit in Shanghai Pudong Development Bank which was redeemed on March 7, 2024 with an annual interest rate of 3.10%	—		4,376
Deposit in Shanghai Pudong Development Bank which was redeemed on March 22, 2024 with an annual interest rate of 3.10%	—		4,373
Deposit in Shanghai Pudong Development Bank which was redeemed on January 29, 2024 with an annual interest rate of 3.10%	—		2,912
Deposit in China Industrial Bank which matures on January 31, 2026 with an annual interest rate of 3.15%	13,275		14,528
Deposit in China Everbright Bank which was redeemed on January 5, 2024 with an annual interest rate of 5.38%	—		3,079
Deposit in China Everbright Bank which was redeemed on May 22, 2024 with an annual interest rate of 5.38%	—		3,018
Deposit in China Everbright Bank which matures on January 9, 2025 with an annual interest rate of 5.214%	10,247		—
Deposit in China Everbright Bank which matures on May 25, 2025 with an annual interest rate of 4.430%	7,030		—
	$	30,552	$	121,342

For the years ended December 31, 2024, 2023 and 2022, interest income related to time deposits was $1,991, $3,689 and $3,472, respectively.

Accounts Receivable, Net

Inventories, Net

Property, Plant and Equipment, Net

Estimated useful lives of assets are as follows:


Buildings and plants			30 years
Computer and office equipment			3 to 5 years
Furniture and fixtures			5 years
Leasehold improvements			shorter of lease term or estimated useful life
Electronic equipment			3 to 5 years
Manufacturing equipment			for small to medium-sized equipment, 5 to 10 years; for large equipment, estimated by purchasing department at time of acceptance
Transportation equipment			4 to 5 years

Construction In Progress

Construction in progress primarily reflects costs incurred related to the construction of ACM Shanghai’s Lingang development and production center.

Intangible Assets, Net

Intangible assets consist of purchase software. Assets are valued at cost at the time of acquisition and are amortized over their beneficial periods.

Impairment of Long-Lived Assets

Leases

Revenue Recognition

1.Identify the contract(s) with a customer;

2.Identify the performance obligations in the contract;

3.Determine the transaction price;

4.Allocate the transaction price to the performance obligations in the contract; and

5.Recognize revenue when (or as) the entity satisfies a performance obligation.

Cost of Revenue

Research and Development Costs

Borrowing Costs

Warranty


	Year Ended December 31,
	2024		2023		2022
Balance at beginning of period	$	9,834	$	8,780	$	6,631
Additions	11,460		7,969		5,379
Utilized	(8,584)		(6,915)		(3,230)
Balance at end of period	$	12,710	$	9,834	$	8,780

Employee Benefit Expenses

Company has no further payment obligations once the contributions have been paid. Total contributions by the Company for such employee benefits were $15,312, $11,618, and $7,816 for the years ended December 31, 2024, 2023 and 2022, respectively.

Government Subsidies

Stock-based Compensation

Income Taxes

Basic and Diluted Net Income per Share of Common Stock

Basic and diluted net income per share of common stock is calculated as follows:


	Year Ended December 31,
	2024		2023		2022
Numerator:
Net income	$	131,269	$	96,852	$	50,564
Less: Net income attributable to non-controlling interests	27,642		19,503		11,301
Net income available to common stockholders, basic	$	103,627	$	77,349	$	39,263
Less: Dilutive effect arising from stock-based awards by ACM Shanghai	2,227		1,841		584
Net income available to common stockholders, diluted	$	101,400	$	75,508	$	38,679
Weighted average shares outstanding, basic	62,212,569		60,164,670		59,235,975
Effect of dilutive securities	4,024,855		4,705,873		6,105,796
Weighted average shares outstanding, diluted	66,237,424		64,870,543		65,341,771

Net income per share of common stock:
Basic	$	1.67	$	1.29	$	0.66
Diluted	$	1.53	$	1.16	$	0.59

Diluted net income per share of common stock reflects the potential dilution from securities, including stock options, that could share in ACM’s earnings. Certain potential dilutive securities were excluded from the net income per share calculation because the impact would be anti-dilutive. The number of potentially dilutive shares that were not included in the calculation of diluted net income per share in the periods presented where their inclusion would be anti-dilutive were 1,511,335, 3,651,337 and 1,795,340 for the years ended December 31, 2024, 2023 and 2022, respectively.

Comprehensive Income (loss)

Restricted Net Assets

Statutory Surplus Reserve

Noncontrolling Interests

Financial Instruments

changes in fair market value, as applicable, are recognized as non-operating income (expenses), net in the consolidated statements of comprehensive income (loss).

Fair Value Measurement

Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities with sufficient volume and frequency of transactions.

Assets and liabilities measured at fair value on a recurring basis:


	Quoted Prices in Active Markets for Identical Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of December 31, 2024
Assets
Cash and cash equivalents	$	50,967	$	-	$	-	$	50,967
Short-term investments	19,373		-		-		19,373
Available-for-sale debt securities	—		-		2,584		2,584
	$	70,340	$	-	$	2,584	$	72,924

As of December 31, 2023
Assets
Cash and cash equivalents	$	37,518	$	-	$	-	$	37,518
Short-term investments	21,312		-		-		21,312
	$	58,830	$	-	$	-	$	58,830


	Quoted Prices in Active Markets for Identical Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of December 31, 2023
Assets
Investments accounted for using measurement alternative	$	—	$	—	$	10,378	$	10,378
	$	—	$	—	$	10,378	$	10,378

The Company recognized nil, $1,465 and nil (upward adjustments) resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer on the consolidated statements of comprehensive income (loss) for the years ended December 31, 2024, 2023, and 2022, respectively. The Company did not recognize any unrealized losses (downward adjustments) resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer for its long-term investments accounted for using measurement alternatives during the years ended December 31, 2024, 2023, and 2022.

Refer to Note 11 for fair value information related to the Company’s outstanding long-term borrowings as of December 31, 2024 and December 31, 2023.

Operating and Financial Risks

Concentration of Credit Risk

Interest Rate Risk

Liquidity Risk

Country Risk

Foreign Currency Risk and Translation

average rate during the reporting period. Adjustments resulting from the translation are recorded in stockholders’ equity as part of accumulated other comprehensive income (loss).

Recently Adopted Accounting Pronouncements

Recently issued accounting pronouncements not yet adopted

LONG-TERM BORROWINGS - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) installment loan	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Long-term debt \| $	$ 149,997	$ 60,735
Long-term borrowings \| $	141,264	56,638
Interest costs incurred \| $	$ 2,933	1,100	$ 845
Loan from China Merchants Bank
Line of Credit Facility [Line Items]
Number of installments for loan repayable	120
Interest rate during period	3.65%
Long-term debt \| $	$ 11,475	13,362
Loan from Agricultural Bank of China
Line of Credit Facility [Line Items]
Number of installments for loan repayable	8
Long-term debt \| $	$ 13,020	0
Loan from Agricultural Bank of China \| Minimum
Line of Credit Facility [Line Items]
Interest rate during period	2.53%
Loan from Agricultural Bank of China \| Maximum
Line of Credit Facility [Line Items]
Interest rate during period	2.78%
Loans from Bank of China
Line of Credit Facility [Line Items]
Number of loans \| loan	2
Long-term debt \| $	$ 28,258	5,013
Loans from Bank of China \| Loan 1
Line of Credit Facility [Line Items]
Number of installments for loan repayable	6
Interest rate during period	2.62%
Loans from Bank of China \| Loan 2
Line of Credit Facility [Line Items]
Number of installments for loan repayable	6
Interest rate during period	2.52%
Loan from Bank of Shanghai
Line of Credit Facility [Line Items]
Interest rate during period	2.85%
Benchmark interest rate	3.45%
Basis spread on rate	0.60%
Long-term debt \| $	$ 13,920	14,120
Loans from China CITIC Bank
Line of Credit Facility [Line Items]
Long-term debt \| $	$ 27,775	$ 28,240
Loans from China CITIC Bank \| Loan 1
Line of Credit Facility [Line Items]
Number of installments for loan repayable	4
Interest rate during period	3.10%
Loans from China CITIC Bank \| Loan 2
Line of Credit Facility [Line Items]
Number of installments for loan repayable	4
Interest rate during period	3.40%
Everbright Bank \| Loan 1
Line of Credit Facility [Line Items]
Number of installments for loan repayable	6
Interest rate during period	2.60%
Benchmark interest rate	3.95%
Basis spread on rate	1.35%
Everbright Bank \| Loan 2
Line of Credit Facility [Line Items]
Number of installments for loan repayable	3
Interest rate during period	2.60%
Benchmark interest rate	3.35%
Basis spread on rate	0.75%
Everbright Bank \| Loan 3
Line of Credit Facility [Line Items]
Number of installments for loan repayable	3
Interest rate during period	2.60%
Benchmark interest rate	3.10%
Basis spread on rate	0.50%

Consolidated Statements of Comprehensive Income (Loss) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Income Statement [Abstract]
Revenue (note 3)	$ 782,118	$ 557,723	$ 388,832
Cost of revenue, including cost of revenue from related parties of $39,313, $31,240, and $26,313 for the years ended December 31, 2024, 2023, and 2022 respectively (note 15)	390,564	281,508	205,217
Gross profit	391,554	276,215	183,615
Operating expenses:
Sales and marketing	65,447	47,019	39,889
Research and development	105,473	92,709	62,226
General and administrative	69,636	40,648	22,465
Total operating expenses	240,556	180,376	124,580
Loss from operations	150,998	95,839	59,035
Interest income	9,935	8,354	8,740
Interest expense	(4,151)	(2,681)	(1,655)
Realized gain from sale of short-term investments	1,788	9,047	1,116
Unrealized gain (loss) on short-term investments	973	(2,737)	(7,855)
Other income (expense), net	6,334	(1,558)	3,315
Income from equity method investments	423	9,952	4,666
Income before income taxes	166,300	116,216	67,362
Income tax expense (note 18)	(35,031)	(19,364)	(16,798)
Net income	131,269	96,852	50,564
Less: Net income attributable to non-controlling interests	27,642	19,503	11,301
Net income attributable to ACM Research, Inc.	103,627	77,349	39,263
Comprehensive income (loss):
Net income	131,269	96,852	50,564
Foreign currency translation adjustment, net of tax	(15,728)	(10,617)	(59,102)
Unrealized gain on available-for-sale investments	428	0	0
Comprehensive income (loss)	115,969	86,235	(8,538)
Less: Comprehensive income attributable to non-controlling interests	26,365	17,689	1,854
Comprehensive income (loss) attributable to ACM Research, Inc.	$ 89,604	$ 68,546	$ (10,392)
Net income per common stock (note 2):
Basic (in dollars per share) \| $ / shares	$ 1.67	$ 1.29	$ 0.66
Diluted (in dollars per share) \| $ / shares	$ 1.53	$ 1.16	$ 0.59
Weighted average common stock outstanding used in computing per share amounts (note 2):
Basic (in shares) \| shares	62,212,569	60,164,670	59,235,975
Diluted (in shares) \| shares	66,237,424	64,870,543	65,341,771

OTHER LONG-TERM ASSETS (Tables)

12 Months Ended

Dec. 31, 2024

Other Assets, Noncurrent Disclosure [Abstract]

Other Long-term Assets

At December 31, 2024 and 2023, other long-term assets consisted of the following:


	December 31,
	2024		2023
Prepayment for property, plant and equipment	$	32	$	3,380
Lease deposit	950		834
Security deposit for land use right	686		696
Prepayment for investment in Ninebell	16,737		—
Others	2,047		1,140
Total other long-term assets	$	20,452	$	6,050

INVENTORIES, NET (Tables)

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

Inventory

At December 31, 2024 and 2023, inventories, net consisted of the following:


	December 31,
	2024		2023
Raw materials	$	224,086	$	235,062
Work-in-process	80,767		81,438
Finished goods	293,131		228,895
Total inventories, net	$	597,984	$	545,395

INCOME TAXES - Summary of Income Tax Benefit and Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
U.S. federal	$ (483)	$ (12,757)	$ (479)
U.S. state	(2)	(150)	(18)
Total U.S. current tax benefit (expense)	(485)	(12,907)	(497)
Foreign	(29,120)	(19,696)	(11,139)
Total current tax expense	(29,605)	(32,603)	(11,636)
Deferred:
U.S. federal	(5,244)	7,316	(10,927)
U.S. state	(63)	63	8
Total U.S. deferred tax benefit (expense)	(5,307)	7,379	(10,919)
Foreign	(119)	5,860	5,757
Total deferred tax benefit	(5,426)	13,239	(5,162)
Income tax (expense) benefit	$ (35,031)	$ (19,364)	$ (16,798)

RELATED PARTY BALANCES AND TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2024

Related Party Balances and Transactions

The following tables represent related party transactions with the equity investees as of December 31, 2024 and 2023:


	December 31,
Advances to related party	2024		2023
Ninebell	$	1,024	$	2,432


	December 31,
Accounts payable	2024		2023
Ninebell	$	10,830	$	7,624
Shengyi	5,303		3,783
Total	$	16,133	$	11,407


	Year Ended December 31
Purchase of materials	2024		2023		2022
Ninebell	$	53,792	$	42,737	$	40,985
Shengyi	6,794		5,006		5,350
Total	$	60,586	$	47,743	$	46,335


	Year Ended December 31
Service fee charged by	2024		2023		2022
Shengyi	$	595	$	820	$	543
Total	$	595	$	820	$	543

LONG-TERM INVESTMENTS - Narrative (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands				12 Months Ended
	Dec. 30, 2024 USD ($)	Dec. 30, 2024 CNY (¥)	Sep. 05, 2019 investor	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 30, 2024 CNY (¥)	Apr. 22, 2024 USD ($)	Jan. 22, 2024 USD ($)	Jan. 22, 2024 CNY (¥)	Jan. 19, 2024 USD ($)	Jan. 19, 2024 CNY (¥)	Jan. 12, 2024 USD ($)	Jan. 12, 2024 CNY (¥)	Nov. 01, 2023 USD ($)	Nov. 01, 2023 CNY (¥)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CNY (¥)	Sep. 25, 2023 USD ($)	Sep. 25, 2023 CNY (¥)	Aug. 17, 2022 USD ($)	Oct. 29, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 CNY (¥)	Jun. 27, 2019 USD ($)	Sep. 11, 2017 USD ($) $ / shares shares
Investments [Abstract]
Prepayment for investment in Ninebell				$ 16,737	$ 0
Payments to acquire long-term investments				24,873	7,508	$ 5,279
Upward price adjustment				423	9,952	4,666
Dividends from equity investee				$ 1,401	$ 0	$ 0
Ninebell
Investments [Abstract]
Ownership percentage																											20.00%
Equity method investment, aggregate cost																											$ 1,200
Ninebell \| Class A Common Stock
Investments [Abstract]
Ownership percentage				20.00%			20.00%
Equity method investment, aggregate cost																											$ 1,000
Shares issued (in shares) \| shares																											400,002
Shares issued (in dollars per share) \| $ / shares																											$ 2.50
Investment - equity method				$ 1,200
Shengyi
Investments [Abstract]
Ownership percentage																										14.00%
Investment - equity method																		$ 900	¥ 6,100							$ 109
Shengyi \| Class A Common Stock
Investments [Abstract]
Ownership percentage				14.00%			14.00%
Investment - equity method				$ 109
Hefei Shixi
Investments [Abstract]
Number of investors with agreements entered \| investor			6
Investment in partnership																								$ 4,200	¥ 30,000
Ownership percentage in partnership																								10.00%	10.00%
Hefei Shixi \| Class A Common Stock
Investments [Abstract]
Ownership percentage				10.00%			10.00%
Investment - equity method				$ 4,200			¥ 30,000
Waferworks
Investments [Abstract]
Ownership percentage																							0.25%
Investment - equity method																							$ 1,568
Waferworks \| Class A Common Stock
Investments [Abstract]
Ownership percentage				0.25%			0.25%
Investment - equity method				$ 1,568
Wooil
Investments [Abstract]
Ownership percentage																						20.00%
Investment - equity method																						$ 1,000
Wooil \| Class A Common Stock
Investments [Abstract]
Ownership percentage				20.00%			20.00%
Investment - equity method				$ 1,000
Company A
Investments [Abstract]
Ownership percentage																				4.37%	4.37%
Investment - equity method																				$ 4,230	¥ 30,000
Company A \| Class A Common Stock
Investments [Abstract]
Ownership percentage				4.37%			4.37%
Investment - equity method				$ 4,230			¥ 30,000
Company B
Investments [Abstract]
Ownership percentage				1.19%			1.19%									1.19%	1.19%
Investment - equity method																$ 930	¥ 6,600
Company B \| Class A Common Stock
Investments [Abstract]
Ownership percentage				1.19%			1.19%
Investment - equity method				$ 930			¥ 6,600
Company C
Investments [Abstract]
Ownership percentage														5.04%	5.04%
Investment - equity method														$ 1,760	¥ 12,500
Company C \| Class A Common Stock
Investments [Abstract]
Ownership percentage				5.04%			5.04%
Investment - equity method				$ 1,760			¥ 12,500
Company D
Investments [Abstract]
Ownership percentage	16.67%			14.28%			14.28%	16.67%				16.67%	16.67%
Investment - equity method												$ 4,230	¥ 30,000
Company D \| First Installment
Investments [Abstract]
Payments to acquire long-term investments	$ 417	¥ 3,000
Company D \| Second Installment
Investments [Abstract]
Remaining investment amount	$ 3,756							¥ 27,000
Company D \| Class A Common Stock
Investments [Abstract]
Ownership percentage				16.67%			16.67%
Investment - equity method				$ 4,230			¥ 30,000
Company E
Investments [Abstract]
Ownership percentage										0.64%	0.64%
Investment - equity method										$ 1,430	¥ 10,000
Company E \| Class A Common Stock
Investments [Abstract]
Ownership percentage				0.64%			0.64%
Investment - equity method				$ 1,430			¥ 10,000
Ninebell - ACM Shanghai
Investments [Abstract]
Ownership percentage				36.40%			36.40%		20.00%
Investment - equity method									$ 16,737
Prepayment for investment in Ninebell				$ 16,737
Company F
Investments [Abstract]
Ownership percentage	2.91%							2.91%
Agreement amount	$ 1,391							¥ 10,000
Company F \| Class A Common Stock
Investments [Abstract]
Ownership percentage				16.67%			16.67%
Investment - equity method				$ 1,391			¥ 10,000
Company G
Investments [Abstract]
Ownership percentage	2.91%							2.91%
Agreement amount	$ 4,173							¥ 30,000
Company G \| First Installment
Investments [Abstract]
Payments to acquire long-term investments	417	¥ 3
Company G \| Second Installment
Investments [Abstract]
Remaining investment amount	$ 974							¥ 7,000
Company G \| Class A Common Stock
Investments [Abstract]
Ownership percentage				2.91%			2.91%
Investment - equity method				$ 4,173			¥ 30,000

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregated Revenue Information


	Year Ended December 31,
	2024		2023		2022
Single Wafer Cleaning, Tahoe and Semi-Critical Cleaning Equipment	$	578,887	$	403,851	$	272,939
ECP (front-end and packaging), Furnace and Other Technologies	151,057		103,356		77,482
Advanced Packaging (excluding ECP), Services & Spares	52,174		50,516		38,411
Total Revenue By Product Category	$	782,118	$	557,723	$	388,832


	Year Ended December 31,
	2024		2023		2022
Mainland China	$	775,752	$	540,969	$	377,752
Other regions	6,366		16,754		11,080
	$	782,118	$	557,723	$	388,832

Accounts Receivables and Contract Liabilities

Below are the accounts receivables and contract liabilities balances as of:


	December 31, 2024		December 31, 2023

Accounts receivable	$	387,045	$	283,186
Advances from customers	243,949		181,368
Deferred revenue	8,537		3,687

Below are revenues recognized from amounts included in contract liabilities at the beginning of the year:


	Year Ended December 31,
	2024		2023		2022
Revenue recognized from amounts included in contract liabilities at the beginning of the year	$	124,069	$	97,370	$	30,385

PROPERTY, PLANT AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 196,238	$ 112,911
Less: Total accumulated depreciation and amortization	(24,882)	(17,503)
Construction in progress	97,916	106,440
Deferred tax assets	269,272	201,848
Buildings and plants
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	141,410	83,109
Manufacturing equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	37,038	16,556
Office equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	5,815	4,953
Transportation equipment
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	396	404
Leasehold improvement
Property, Plant and Equipment, Net, by Type [Abstract]
Total cost	$ 11,579	$ 7,889

SHORT-TERM INVESTMENTS - Narrative (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2024 CNY (¥)	Feb. 29, 2024 USD ($)	Feb. 29, 2024 CNY (¥)	Sep. 30, 2023 USD ($)	Jul. 31, 2023 USD ($)	Sep. 27, 2022 USD ($)	Sep. 19, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CNY (¥)
Debt and Equity Securities, FV-NI [Line Items]
Proceeds from sale of short-term investments (note 14)	$ 8,434	$ 21,735	$ 4,577
Realized gain from sale of short-term investments	1,788	9,047	1,116
Nuode Asset Fund
Debt and Equity Securities, FV-NI [Line Items]
Investment in partnership									$ 4,196	$ 22,160
Ownership percentage in partnership									18.75%
Sale of Investment, Amount Receivable	3,167			¥ 22,478
Huahong Semiconductor Limited
Debt and Equity Securities, FV-NI [Line Items]
Investment in partnership								$ 13,930
Zhongjuxin Limited Company (“Zhongjuxin”)
Debt and Equity Securities, FV-NI [Line Items]
Investment in partnership							$ 4,179
Sale of Investment, Amount Receivable	5,267			38,464
SMIC
Debt and Equity Securities, FV-NI [Line Items]
Proceeds from sale of short-term investments (note 14)	8,434	21,735	4,577
Realized gain from sale of short-term investments	1,788	$ 9,047	$ 1,116
Shanghai Syncrystalline Silicon Materials Co., Ltd
Debt and Equity Securities, FV-NI [Line Items]
Investment in partnership	$ 2,818			¥ 20,000	$ 1,409	¥ 10,000					$ 1,409	¥ 10,000

ACCOUNTS RECEIVABLE, NET (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Accounts Receivable

At December 31, 2024 and 2023, accounts receivable, net consisted of the following:


	December 31,
	2024		2023
Accounts receivable	$	405,392	$	288,016
Less: Allowance for credit losses	(18,347)		(4,830)
Total	$	387,045	$	283,186


	December 31,
	2024		2023
Allowance for credit losses, before tax, at beginning of the year	$	(4,830)	$	—
Cumulative effect of change in accounting principle under ASC 326, before tax, as of January 1, 2023	—		(2,099)
Provision for credit loss	(13,517)		(2,731)
Allowance for credit losses, before tax, at the end of the year	$	(18,347)	$	(4,830)

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheets

The following represents condensed unconsolidated financial information of ACM only as of December 31, 2024 and 2023, and for the years ended December 31, 2024, 2023 and 2022:

CONDENSED BALANCE SHEETS


	December 31,
	2024		2023
Assets
Current assets:
Cash and cash equivalents	$	54,764	$	41,616
Accounts receivable	2		988
Due from intercompany	6,554		3,176
Other receivable	8,938		5,803
Prepaid expenses	479		385
Total current assets	70,737		51,968
Deferred tax assets	4,610		20,271
Property, plant and equipment, net	7,990		134
Investment in consolidated subsidiaries and equity method investees	844,507		733,382
Total assets	927,844		$	805,755

Liabilities and Stockholders’ Equity
Loan borrowings	$	13,882	$	14,120
Accounts payable	391		524
Other payables	8,098		5,176
Income taxes payable	—		6,402
FIN-48 payable	848		12,149
Total liabilities	23,219		38,371
Total stockholders’ equity	904,625		767,384
Total liabilities and stockholder’s equity	$	927,844	$	805,755

Condensed Statements of Operations

CONDENSED STATEMENTS OF OPERATIONS


	Year Ended December 31,
	2024		2023		2022
Revenue	$	2,576	$	6,354	$	569
Cost of revenue	(132)		(4,336)		—
Gross profit	2,444		2,018		569
Operating expenses:
Sales and marketing expenses	(6,909)		(4,715)		(3,193)
General and administrative expenses	(10,331)		(7,840)		(5,421)
Loss from operations	(14,796)		(10,537)		(8,045)
Equity in earnings of consolidated subsidiaries and equity method investees	87,916		73,707		32,145
Interest income, net	2,094		799		57
Interest expense, net	(560)		(66)		(7)
Other income, net	34,684		18,476		2,148
Income before income taxes	109,338		82,379		26,298
Income tax (expense) benefit	(5,711)		(5,030)		12,965
Net income	$	103,627	$	77,349	$	39,263
Foreign currency translation adjustment, net of tax	(14,373)		(8,803)		(49,655)
Unrealized gain on available-for-sale investments, net of tax	350		—		—
Comprehensive income (loss) attributable to ACM Research, Inc.	$	89,604	$	68,546	$	(10,392)

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS


	Year Ended December 31,
	2024		2023		2022
Net cash provided by (used in) operating activities	$	15,285	$	1,489	$	(5,997)
Net cash used in investing activities	(7,889)		(149)		(1,000)
Net cash provided by financing activities	5,752		16,423		1,314
Net increase (decrease) in cash and cash equivalents	13,148		17,763		(5,683)
Cash and cash equivalents, beginning of year	41,616		23,853		29,536
Cash and cash equivalents, end of year	$	54,764	$	41,616	$	23,853