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of Contents](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_7)\n\nUNITED STATES SECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\nþQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nor\n\noTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from _________ to _____________\n\nCommission file number: 001-38273\n\nACM Research, Inc.\n\n(Exact Name of Registrant as Specified in Its Charter)\n\nDelaware94-3290283\n\n(State or Other Jurisdiction of Incorporation or Organization)(I.R.S. Employer Identification No.)\n\n42307 Osgood Road, Suite I\n\nFremont, California\n\n94539\n\n(Address of Principal Executive Offices)(Zip Code)\n\nRegistrant’s telephone number, including area code: (510) 445-3700\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of Each ClassTrading SymbolName of Each Exchange on which Registered\n\nClass A Common Stock, $0.0001 par valueACMRThe NASDAQ Stock Market LLC\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data file required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No o\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer þAccelerated filero\n\nNon-accelerated filer oSmaller reporting companyo\n\nEmerging growth companyo\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ\n\nIndicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.\n\nClassNumber of Shares Outstanding\n\nClass A Common Stock, $0.0001 par value\n61,233,064 shares outstanding as of May 5, 2026\n\nClass B Common Stock, $0.0001 par value\n4,991,808 shares outstanding as of May 5, 2026\n\n[Table of Contents](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_7)\n\nTABLE OF CONTENTS\n\n[PART I.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_13)\n\n[FINANCIAL INFORMATION](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_13)\n\n[4](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_13)\n\n[Item 1.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_16)\n\n[Financial Statements (unaudited)](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_16)\n\n[4](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_16)\n\n[Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_19)\n\n[4](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_19)\n\nCondensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2026\n[5](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_22)\n\n[Condensed Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2026](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_25)\n\n[6](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_25)\n\n[Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_28)\n\n[7](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_28)\n\n[Notes to the Condensed Consolidated Financial Statements](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_31)\n\n[8](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_31)\n\n[Item 2.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_100)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_100)\n\n[24](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_100)\n\n[Item 3.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_136)\n\n[Quantitative and Qualitative Disclosures about Market Risks](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_136)\n\n[38](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_136)\n\n[Item 4.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_139)\n\n[Controls and Procedures](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_139)\n\n[38](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_139)\n\n[PART II.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_142)\n\n[OTHER INFORMATION](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_142)\n\n[39](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_142)\n\n[Item 1.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_145)\n\n[Legal Proceedings](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_145)\n\n[39](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_145)\n\n[Item 1A.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_148)\n\n[Risk Factors](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_148)\n\n[39](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_148)\n\n[Item 2.](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_151)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_151)\n\n[39](#i8ac3ef1aa2ff43228dbbf1f9b4e12831_151)"}