Axt Inc Stock Price, News & Analysis

AXT, Inc. reported impressive 46% year-to-date revenue growth, totaling $34.6 million for Q3 2021, compared to $25.5 million in Q3 2020. Despite this, gross margins decreased to 33.3% from 36.3% in Q2 2021, while operating expenses rose to $9.1 million. Net income was $3.8 million, or $0.09 per share, down from $4.4 million or $0.10 per share in the prior quarter. The company is preparing for a public offering on China's STAR Market, expected in mid-2022.

AXT, Inc. (NasdaqGS: AXTI) will announce its financial results for the third quarter of 2021 on October 27, 2021, after market close. A conference call is scheduled for the same day at 1:30 p.m. PT to discuss these results, accessible at (844) 892-6598. Replays will be available until November 3, 2021. AXT specializes in manufacturing compound semiconductor substrates, serving sectors like 5G, data centers, and LED lighting. For further information, visit www.axt.com.

AXT, Inc. (NasdaqGS: AXTI) announced the appointment of Morris Young as Chairman of the Board, effective Aug. 12, 2021. Young, who is also CEO, takes over from Jesse Chen, who remains Lead Independent Director. This decision aligns with the upcoming IPO plans for Beijing Tongmei Xtal Technology Co., Ltd. on China's STAR Market, influenced by Tongmei’s advisors. Young has been with Tongmei since its inception in 1998 and previously chaired AXT from 1998 to 2004, indicating continuity in leadership.

AXT, Inc. (NasdaqGS: AXTI) reported a strong second quarter for 2021, achieving $33.7 million in revenue, up from $22.1 million year-over-year, marking over 52% growth. Gross margin slightly decreased to 36.3%, while operating profit rose to $3.9 million. Net income increased to $4.4 million or $0.10 per share. The company is also advancing its strategic plan to access China’s capital markets with a potential IPO for Beijing Tongmei Xtal Technology Co., Ltd. on the STAR Market by mid-2022.

AXT, Inc. (NASDAQ: AXTI) will release its financial results for Q2 2021 after market close on July 27, 2021. A conference call discussing these results will be held the same day at 1:30 p.m. PT, accessible at (844) 892-6598 with passcode 4868076. The call will also be available through a simulcast on www.axt.com. AXT manufactures compound semiconductor substrates used in various applications including 5G infrastructure and LED lighting, with headquarters in Fremont, California, and operations in China.

AXT, Inc. (NasdaqGS: AXTI) has achieved a significant milestone by developing and shipping its first 8-inch diameter gallium arsenide (GaAs) substrates to a major customer. These silicon doped, n-type substrates exhibit low etch pit densities and slip lines, essential for high-volume applications such as VCSELs for 3D sensors and LiDAR. The company expects increased demand for 8-inch GaAs wafers as these applications grow. AXT’s new manufacturing facilities are designed for scaling up production, ensuring commercial viability for these substrates.

AXT, Inc. (NasdaqGS: AXTI) reported a strong first quarter 2021 with revenue reaching $31.4 million, a 16% sequential growth from Q4 2020 and over 51% from Q1 2020. Gross margin improved to 36.8%, up from 33.9% in the previous quarter. Operating profit was $3.6 million, compared to $1.9 million in Q4 2020, while net income increased to $3.4 million, or $0.08 per share. Additionally, AXT is advancing its plan to list its Chinese subsidiary, Tongmei, on the STAR Market by mid-2022.

AXT, Inc. (NasdaqGS: AXTI) will release its first-quarter 2021 financial results on April 28, 2021, after market close. A conference call to discuss the results is scheduled for the same day at 1:30 p.m. PT, accessible at (844) 892-6598 (passcode 2989288) and via simulcast on their website. AXT specializes in manufacturing compound semiconductor substrates, vital for various technological applications including 5G infrastructure and LED lighting. Further investor details can be found on AXT's website.

AXT, Inc. (NasdaqGS: AXTI) reported a 15% revenue increase for fiscal year 2020, totaling $95.4 million. Q4 2020 revenue was $27.0 million, up from $18.4 million in Q4 2019. The net income for 2020 reached $3.2 million, compared to a net loss of $2.6 million in 2019. Gross margin improved to 32% for the fiscal year. AXT also announced that Tongmei, its wafer manufacturing subsidiary in China, secured $49 million in private equity funding, progressing towards an IPO on the STAR Market expected in mid-2022.