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AXT, Inc. reports developments around its business as a manufacturer of compound and single-element semiconductor substrate wafers. The company develops and manufactures indium phosphide, gallium arsenide and germanium wafers used where silicon substrates do not meet performance requirements for semiconductor or optoelectronic devices, including fiber optic and 5G communications, data center connectivity, LEDs, lasers, photonic integrated circuits, lidar and advanced sensing.
Recurring AXTI news includes financial results, earnings-release scheduling, common stock financing, and capacity or research spending tied to indium phosphide substrates through Beijing Tongmei Xtal Technology Co., Ltd. Coverage also includes market products linked to AXTI shares, such as single-stock leveraged ETFs that reference the company’s daily stock performance.
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.
AXT, Inc. (NasdaqGS: AXTI) has announced the acceptance of a formal application for an IPO of its subsidiary, Tongmei, on the STAR Market in China. This milestone reflects the growth of Tongmei in manufacturing compound semiconductor substrate wafers, crucial for various technologies including 5G and data centers. Additionally, AXT has increased its revenue guidance for Q4 2021, now projected at $36–$37 million, up from a previous $34–$36 million. AXT will disclose its full Q4 results on Feb. 16, 2022.
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.