Welcome to our dedicated page for Axt SEC filings (Ticker: AXTI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
AXT, Inc. filings document the regulatory disclosures of a Nasdaq-listed manufacturer of compound semiconductor substrate wafers. Recent Form 8-K reports cover results of operations and financial condition, Regulation FD information, exhibit filings for earnings releases, and capital-structure disclosures involving its common stock.
The filing record also includes material definitive agreement disclosure for an underwriting agreement, exchange-registration information for AXTI common stock, and definitive proxy materials addressing shareholder voting matters, board and committee governance, director independence, and executive compensation.
AXT, Inc. reported a significant decline in revenue and widening losses in the quarter ended June 30, 2025. Quarterly revenue fell to $17.97 million from $27.92 million a year earlier, and six-month revenue declined to $37.33 million from $50.61 million. Gross profit contracted sharply to $1.43 million for the quarter and to $0.19 million for the six months, compared with $7.65 million and $13.75 million a year ago, respectively. Net loss attributable to AXT, Inc. was $7.01 million for the quarter and $15.81 million for six months, driving basic EPS of $(0.16) and $(0.36) for the quarter and six months.
On the balance sheet, cash and cash equivalents were $27.01 million with restricted cash of $8.10 million, totaling $35.11 million; short-term loans increased to $55.93 million. Inventories were $80.06 million and total assets were $329.00 million. The company holds $14.3 million of strategic investments in privately held raw material companies and recognized a $145,000 impairment on a fair-value investment in Jia Mei during the period. A putative securities class action is pending and a derivative suit dismissal was affirmed with an appeal filed.
On 29 Jul 2025, AXT, Inc. (AXTI) filed an 8-K announcing two board changes under Item 5.02. Leonard J. LeBlanc, a former director (2003-2021) and prior audit-committee chair, was re-appointed as a Class III director, filling the vacancy created by the recent passing of Ms. Christine Russell. His term runs through 29 Jul 2027. Because LeBlanc earned >$120 k in 2022 under a now-terminated consulting agreement, he is not yet independent per Nasdaq rules; however, the board used the “exceptional and limited circumstances” exemption to place him on the Audit, Compensation and Nominating & Governance Committees. Independence will be re-evaluated on or after 1 Jan 2026, when the look-back period lapses.
LeBlanc will receive standard non-employee director pay plus an initial grant of 29,112 restricted shares that vest 15 May 2026. No other related-party transactions or family ties were disclosed.
The board also named independent director Jesse Chen as Audit Committee Chair, effective immediately, with an additional $20 k annual cash retainer. No financial statements were included in this filing.