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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 8 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Dec. 31, 2024
Cash flows from operating activities:          
Net income $ 36,270 $ 31,399 $ 61,283 $ 53,491  
Adjustments to reconcile net income from operations to net cash (used in) provided by operating activities          
Non-cash operating lease cost     2,081 2,004  
Depreciation and amortization     6,356 4,684  
Realized gain on short-term investments     0 (273)  
(Income) loss from equity method investments (1,773) 695 (2,725) 1,215  
Unrealized (gain) loss on short-term investments (2,730) (1,031) (1,648) 1,564  
Inventory provision     5,625 3,009  
Provision for credit losses     1,435 1,954  
Deferred income taxes     (7,451) (720)  
Stock-based compensation     19,587 28,911  
Dividends from unconsolidated affiliates     0 600  
Others     1,086 (1)  
Net changes in operating assets and liabilities:          
Accounts receivable     (44,508) (14,842)  
Other receivables     (848) (11,686)  
Inventories     (52,946) (64,889)  
Advances to related parties (note 13)     342 (324)  
Prepaid expenses and other current assets     (6,433) 1,164  
Related parties accounts payable (note 13)     3,694 6,605  
Accounts payable     7,743 2,400  
Advances from customers     (24,357) 26,333  
Deferred revenue     5,123 1,592  
Income taxes payable     (12,585) 4,755  
FIN-48 payable     1,908 (56)  
Other payables and accrued expenses     336 6,824  
Operating lease liabilities     (2,027) (2,004)  
Other long-term liabilities     (690) (368)  
Net cash (used in) provided by operating activities     (39,619) 51,942  
Cash flows from investing activities:          
Purchase of property and equipment     (31,458) (38,512)  
Purchase of intangible assets     (784) (1,152)  
Purchase of short-term investments (note 12)     0 (1,403)  
Purchase of time deposits     (27,000) (58,090)  
Proceeds from redemption and maturity of time deposits     27,261 138,412  
Refund of deposit for land use right     686 0  
Purchase of long-term investments (note 11)     0 (7,366)  
Net cash (used in) provided by investing activities     (31,295) 31,889  
Cash flows from financing activities:          
Proceeds from short-term borrowings     45,073 23,936  
Repayments of short-term borrowings     (25,175) (1,197)  
Proceeds from long-term borrowings     89,485 32,277  
Repayments of long-term borrowings     (15,246) (3,202)  
Capital contribution by non-controlling shareholder     242 0  
Repurchase of ACM Shanghai's shares     (6,988) 0  
Proceeds from exercise of stock options     23,582 6,437  
Net cash provided by financing activities     110,973 58,251  
Effect of exchange rate changes on cash, cash equivalents and restricted cash     1,517 (343)  
Net increase in cash, cash equivalents and restricted cash     41,576 141,739  
Cash, cash equivalents and restricted cash at beginning of period     411,310 183,173  
Cash, cash equivalents and restricted cash at end of period 452,886 324,912 452,886 324,912 $ 411,310
Supplemental disclosure of cash flow information:          
Interest paid, net of capitalized interest     3,315 1,715  
Cash paid for income taxes     23,399 9,109  
Reconciliation of cash, cash equivalents and restricted cash in consolidated statements of cash flows:          
Cash and cash equivalents 442,088 324,031 442,088 324,031 407,445
Restricted cash 10,798 881 10,798 881 3,865
Cash, cash equivalents and restricted cash $ 452,886 $ 324,912 452,886 324,912 $ 411,310
Non-cash financing activities:          
Cashless exercise of stock options     179 262  
Non-cash investing activities:          
Transfer of prepayment for property to property, plant, and equipment     21 5,490  
Proceeds from sale of short-term investments included in other receivables     0 3,167  
Transfer from other non-current assets to long term investment     16,737 0  
Transfer from inventories to property, plant and equipment     589 0  
Purchases of property, plant and equipment through other payable     $ 24,055 $ 33,479