XML 52 R6.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 148,485 $ 61,283
Adjustments to reconcile net income to net cash used in operating activities:    
Non-cash operating lease cost 2,384 2,081
Depreciation and amortization 11,766 6,356
Income from equity method investments (22,846) (2,725)
Unrealized gain on short-term investments (68,186) (1,648)
Inventory provision 12,019 5,625
Provision for credit losses 3,710 1,435
Deferred income taxes 4,186 (7,451)
Stock-based compensation 12,204 19,587
Dividends from unconsolidated affiliates 2,821 0
Others 0 1,086
Net changes in operating assets and liabilities:    
Accounts receivable (4,369) (44,508)
Other receivables (8,862) (848)
Inventories (69,882) (52,946)
Advances to related parties 2,337 342
Prepaid expenses and other current assets (12,035) (6,433)
Other long-term assets (1,143) 0
Related parties accounts payable (2,261) 3,694
Accounts payable (10,730) 7,743
Advances from customers (25,915) (24,357)
Deferred revenue (1,480) 5,123
Income taxes payable (19,849) (12,585)
FIN-48 payable 1,189 1,908
Other payables and accrued expenses 13,619 336
Operating lease liabilities (2,537) (2,027)
Other long-term liabilities (521) (690)
Net cash used in operating activities (35,896) (39,619)
Cash flows from investing activities:    
Purchases of property and equipment (87,311) (31,458)
Purchase of intangible assets (476) (784)
Purchase of time deposits (25,000) (27,000)
Proceeds from redemption and maturity of time deposits 38,005 27,261
Proceeds from sale of short-term investments 0 686
Purchase of long-term investments (4,698) 0
Net cash used in investing activities (79,480) (31,295)
Cash flows from financing activities:    
Proceeds from short-term borrowings 91,906 45,073
Repayments of short-term borrowings (61,380) (25,175)
Proceeds from long-term borrowings 75,525 89,485
Repayments of long-term borrowings (62,863) (15,246)
Capital contribution by non-controlling shareholder 0 242
Proceeds from exercise of stock options 30,778 23,582
Gross proceeds from sales of ACM Shanghai shares 110,243 0
Repurchase of ACM Shanghai shares 0 (6,988)
Proceeds from issuance of ACM Research shares, net of issuance costs 148,389 0
Net cash provided by financing activities 332,598 110,973
Effect of exchange rate changes on cash, cash equivalents and restricted cash 7,403 1,517
Net increase in cash, cash equivalents and restricted cash 224,625 41,576
Cash, cash equivalents and restricted cash at beginning of period 765,962 411,310
Cash, cash equivalents and restricted cash at end of period 990,587 452,886
Supplemental disclosure of cash flow information:    
Interest paid 3,992 3,315
Cash paid for income taxes 30,541 23,399
Reconciliation of cash, cash equivalents and restricted cash in consolidated statements of cash flows:    
Cash and cash equivalents 969,229 442,088
Restricted cash 21,358 10,798
Cash, cash equivalents and restricted cash 990,587 452,886
Non-cash investing activities:    
Transfer of prepayment for property to property, plant, and equipment 125 21
Transfer from other non-current assets to long term investment 0 16,737
Transfer from inventories to property, plant and equipment 0 589
Purchases of property, plant and equipment through other payables and accrued expenses 10,529 24,055
Non-cash financing activities:    
Cashless exercise of stock options 0 179
Deferred offering costs included in prepaid expenses and other current assets $ 2,403 $ 0