ACM Research (ACMR) reported Q1 non-GAAP earnings Thursday of $0.34 per diluted share, down from $0.46 a year earlier.

Four analysts polled by FactSet expected $0.21.

Revenue for the quarter ended March 31 was $231.3 million, compared with $172.3 million a year earlier.

Analysts surveyed by FactSet expected $215.7 million.

The company reaffirmed its 2026 revenue outlook of $1.08 billion to $1.18 billion.

Analysts surveyed by FactSet expect $1.14 billion.

Shares of the company were up 2% in Thursday premarket activity.