ACM Research, Inc.

Good day, ladies and gentlemen. Thank you for standing by, and welcome to the ACM Research Fourth Quarter 2021 Earnings Conference Call. Currently, all participants are in listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, we are recording today's call. If you have any objections, you may disconnect at this time. Now I will turn the call over to Mr. Gary Dvorak, Managing Director of the Blue Shift Group. Mr. Dvorak, please go ahead.

So good morning, everyone. Thank you for joining us on today's call to discuss fourth quarter 2021 results. We released results before the U.S. market opened today. The release is available on our website as well as from Newswire Services. There is also a supplemental slide deck posted in the investor portion of our website that we'll reference during our prepared remarks. On the call with me today are our CEO, Dr. David Wong, our CFO, Mark McCagney, and Lisa Fung, the CFO of our operating subsidiary, ACM Shanghai. Before we continue, please turn to slide two. Let me remind you that remarks made during this call may include predictions, estimates, or other information that might be considered forward-looking. These forward-looking statements represent ACM's current judgment for the future. However, they are subject to risks and uncertainties and could cause actual results to differ materially. Those risks are described under risk factors and elsewhere in ACM's filings and Exchange Commission. Please do not place undue reliance on these forward-looking statements, which reflect ACM's opinions, only as of the date of this call. ACM is not obliged to update you on any revisions to these forward-looking statements. Certain of the financial results that we provide on this call will be on a non-GAAP basis, which excludes stock-based compensation, a loss relating to a change in fair value of the financial liability, and an unrealized gain in trading securities. For our GAAP results and reconciliations between GAAP and non-GAAP accounts, You should refer to our earnings release, which is posted on the IR section of our website, and slides 12 and 13 in supplemental debt. With that, let me now turn the call over to David Wong, who will begin with slide three. David?

Thanks, Gary. Good afternoon, everyone, and welcome to ACM Research, fourth quarter and full year 2021 results conference call. 2021 was a transformative year for ACM. who expanded our customer base, ran the production of new product and secured order for evaluation tools from several major semiconductor manufacturers, including top global player in the U.S. I will now provide the 2021 financial results. Please turn to slide three. Our financial results demonstrated the power of ACM's expanding customer-based, our differentiated multi-product solution, our product cycle, and our growing production scale. 2021 revenue was $259.8 million, upper 66 percent, and the shipment was $372 million, upper 104 percent. In the fourth quarter, we had a record revenue of $95.1 million, and a shipment of 1.7 million for the first time in ACM history. The revenue growth was driven by both new products and new .