Axt Inc Stock Price, News & Analysis

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.

AXT, Inc. (NASDAQ: AXTI) will announce its fourth quarter 2020 and fiscal year 2020 financial results on February 18, 2021, after market close. A conference call will follow on the same day at 1:30 p.m. PT, accessible at (844) 892-6598 with passcode 5773028. The call will be streamed live on AXT's website, with replays available until February 24, 2021. AXT specializes in compound semiconductor substrates for various applications including 5G infrastructure and data centers.

AXT, Inc. (Nasdaq: AXTI), a leader in semiconductor substrates, announced that its CFO, Gary L. Fischer, will present at the 23rd Annual Needham Virtual Growth Conference on January 12, 2021, at 3:30 p.m. ET. The presentation will be available via webcast on the company's investor relations website, www.axt.com. AXT specializes in high-performance compound semiconductor substrates, serving markets like 5G infrastructure and data centers, with facilities in China and a focus on advanced materials.

AXT, Inc. announces significant progress toward a STAR Market IPO for its Chinese wafer manufacturing subsidiary, Tongmei. The second tranche of investment, amounting to $25 million from seven private equity firms, was largely completed in December 2020, with an additional $1.5 million expected to close this January, bringing total investments to approximately $49 million for a 7.28% minority interest. This strategic initiative is crucial for Tongmei's IPO aspirations in mid-2022, while AXT continues to operate as a U.S. public company listed on the Nasdaq under AXTI.