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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Revenue (note 3) $ 168,569 $ 133,709 $ 387,402 $ 280,290
Cost of revenue (note 16) 80,055 67,742 190,263 150,480
Gross profit 88,514 65,967 197,139 129,810
Operating expenses:        
Sales and marketing 16,803 13,133 37,579 27,494
Research and development 26,151 15,678 60,244 44,391
General and administrative 12,387 5,520 26,851 15,560
Total operating expenses 55,341 34,331 124,674 87,445
Income from operations 33,173 31,636 72,465 42,365
Interest income 2,152 2,016 6,283 5,965
Interest expense (640) (419) (1,984) (986)
Realized gain from sale of short-term investments 656 1,136 8,569 1,136
Unrealized loss on short-term investments (1,319) (5,281) (4,428) (9,562)
Other income (expense), net (2,150) 7,207 156 9,949
Income (loss) from equity method investments (160) 1,251 3,728 1,652
Income before income taxes 31,712 37,546 84,789 50,519
Income tax expense (note 19) (718) (10,470) (11,235) (14,138)
Net income 30,994 27,076 73,554 36,381
Less: Net income attributable to non-controlling interests 5,315 6,072 13,905 8,927
Net income attributable to ACM Research, Inc. 25,679 21,004 59,649 27,454
Net income available to common stockholders, diluted 25,218 20,683 58,311 26,989
Comprehensive income (loss):        
Net income 30,994 27,076 73,554 36,381
Foreign currency translation adjustment, net of tax 4,015 (42,416) (21,831) (80,334)
Comprehensive income (loss) 35,009 (15,340) 51,723 (43,953)
Less: Comprehensive income (loss) attributable to non-controlling interests 7,768 (1,057) 11,882 (4,378)
Comprehensive income (loss) attributable to ACM Research, Inc. $ 27,241 $ (14,283) $ 39,841 $ (39,575)
Net income attributable to ACM Research, Inc. per share of common stock (note 2):        
Basic (in dollars per share) $ 0.43 $ 0.35 $ 0.99 $ 0.46
Diluted (in dollars per share) $ 0.39 $ 0.32 $ 0.90 $ 0.41
Weighted average shares of common stock outstanding used in computing per share amounts (note 2):        
Basic (in shares) 60,219,218 59,360,790 59,953,144 59,123,895
Diluted (in shares) 65,450,941 65,612,665 64,834,051 65,629,273