Axt Inc Stock Price, News & Analysis

AXT, Inc. (NASDAQ: AXTI) has announced preliminary revenue for Q3 2022, estimating between $34 million and $35 million, which falls short of previous guidance of $39 million to $41 million. This decline is attributed to weakened macroeconomic conditions, particularly in China. CEO Morris Young expressed disappointment over the impact on near-term growth but maintained confidence in the company's strategy and market opportunities. A conference call is set for October 27, 2022, to discuss the final results.

AXT, Inc. (AXTI) reported a 22% year-over-year revenue growth for the first half of 2022, reaching $39.5 million in Q2. Gross margins improved to 39.1% compared to 36.3% in Q2 2021. The company recorded a net income of $5.5 million or $0.13 per share. AXT's subsidiary, Tongmei, received approval for its IPO on China's STAR Market, pending regulatory review. The management expresses optimism for future growth driven by strategic customer relationships and product advancements.

AXT, Inc. (NasdaqGS: AXTI) announced that its subsidiary, Tongmei, received approval from the Shanghai Stock Exchange for its initial public offering (IPO) on the STAR Market. This listing is contingent on further review by the China Securities Regulatory Commission. CEO Morris Young highlighted this milestone as crucial, noting that while the IPO timing remains uncertain, completing this step enhances confidence in a potential listing within 2022. The process is lengthy, with expectations for completion in Q4 2022, pending regulatory approvals.

AXT, Inc. (NasdaqGS: AXTI) will release its financial results for Q2 2022 on July 28, 2022, post-market close. A conference call to discuss these results is scheduled for the same day at 1:30 p.m. PT. Investors can register for the call via the provided link. AXT specializes in manufacturing high-performance semiconductor substrates, integral for various high-tech applications including 5G infrastructure, optical networks, LED lighting, and more. The company operates globally with headquarters in Fremont, California, and has manufacturing facilities in China.

AXT, Inc. (NasdaqGS: AXTI) announced that its China subsidiary, Beijing Tongmei Xtal Technology, has submitted additional documents for its IPO on the Shanghai Stock Exchange's STAR Market. This marks the fourth submission round, part of typical IPO procedures. For Q1 2022, Tongmei reported revenues of RMB 252.6 million and a net profit of RMB 20.4 million, showing increases from the previous year. Preliminary estimates for H1 2022 suggest revenues between RMB 456.2 million and RMB 557.6 million, with net profits expected between RMB 44.3 million and RMB 54.2 million. The IPO process is ongoing, and further updates are expected in H2 2022.

AXT, a manufacturer of compound semiconductor wafer substrates, reports a 26% revenue growth in Q1 2022, totaling $39.7 million. This marks the ninth consecutive quarter of revenue growth, driven by market share gains and expansion in various sectors, including telecom and healthcare. GAAP net income reached $3.2 million, or $0.07 per share. AXT's subsidiary, Tongmei, is in the process of going public on the STAR Market in China, with expectations for the second half of 2022. The company will discuss these results in a conference call today.

AXT, Inc. (AXTI) reported a 44% increase in revenue for fiscal year 2021, reaching $137.4 million, compared to $95.4 million in 2020. The company's fourth-quarter revenue was $37.7 million, a 40% growth year-over-year. GAAP net income for 2021 was $14.6 million or $0.34 per share. Despite a slight decline in gross margins, AXT expects to achieve healthy double-digit revenue growth in 2022, driven by strategic investments and a pending IPO for its subsidiary, Tongmei. This positions AXT favorably for continued market expansion.

AXT, Inc. (AXTI) will release its fourth quarter and fiscal year 2021 financial results on February 16, 2022, after market close. The company will hold a conference call at 1:30 p.m. PT on the same day, accessible at (844) 892-6598 with passcode 7427708. A replay will be available until February 22, 2022. AXT is known for manufacturing high-performance semiconductor substrate wafers used in various applications including 5G infrastructure and data centers. More information is available on their website.

AXT, Inc. has announced that CEO Morris Young and CFO Gary L. Fischer will present at the 24th Annual Needham Growth Conference on January 12, 2022, at 3:30 p.m. ET. This virtual event can be accessed through the company's website or via the event link provided. AXT specializes in manufacturing compound semiconductor substrate wafers used in advanced technologies, including 5G and data center connectivity. The company is headquartered in Fremont, California, with additional facilities and operations in China.