SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2026

The following table presents cash and cash equivalents, according to jurisdiction as of June 30, 2026 and December 31, 2025:

Assets measured at fair value on a recurring basis:


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
As of June 30, 2026:
Assets
Cash equivalents	$	285,303	$	—	$	—	$	285,303
Short-term investments	105,091		—		—		105,091
Available-for-sale debt securities	—		—		10,684		10,684
	$	390,394	$	—	$	10,684	$	401,078

As of December 31, 2025:
Assets
Cash equivalents	$	84,627	$	—	$	—	$	84,627
Short-term investments	35,524		—		—		35,524
Available-for-sale debt securities	—		—		9,703		9,703
	$	120,151	$	—	$	9,703	$	129,854

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net income	$	122,250	$	36,270	$	148,485	$	61,283
Less: Net income attributable to non-controlling interests	33,266		6,510		42,194		11,143
Net income available to common stockholders, basic	88,984		29,760		106,291		50,140
Less: Dilutive effect arising from stock-based awards by ACM Shanghai	820		252		873		542
Net income available to common stockholders, diluted	$	88,164	$	29,508	$	105,418	$	49,598

Weighted average shares outstanding, basic	67,890,917		63,968,763		66,853,350		63,620,235
Effect of dilutive securities	3,947,991		3,496,093		3,825,522		3,518,103
Weighted average shares outstanding, diluted	71,838,908		67,464,856		70,678,872		67,138,338

Net income per share of common stock:
Basic	$	1.31	$	0.47	$	1.59	$	0.79
Diluted	$	1.23	$	0.44	$	1.49	$	0.74