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AXT Inc. (symbol: AXTI) is a leading material science company specializing in the development and manufacturing of high-performance compound and single-element semiconductor substrates, commonly referred to as wafers. These substrates are essential components in the production of semiconductor chips and other electronic circuits. The company’s core products include gallium arsenide (GaAs), indium phosphide (InP), and germanium (Ge) substrates, which are used in various applications such as 5G infrastructure, data center connectivity, LED lighting, lasers, sensors, power amplifiers for wireless devices, and satellite solar cells.
Headquartered in Fremont, California, AXT Inc. manages its sales, administration, and customer service operations from this location. The company’s manufacturing facilities are strategically located in Beijing, China, which helps in optimizing production and distribution efficiencies. AXT Inc. also boasts a global business presence, with significant revenue contributions from regions including China, Europe, Japan, Taiwan, North America, and the Asia Pacific.
AXT Inc. prides itself on its comprehensive supply chain strategy. The company has partial ownership in more than ten companies in China that produce raw materials and consumables required for its manufacturing processes. This strategic investment ensures a stable and cost-effective supply of essential materials.
Recent achievements include a notable growth in revenue, with a reported 11% quarter-to-quarter increase and a remarkable 48% rise in indium phosphide revenue. The company has also been focusing on developing larger diameter substrates to cater to the demand for next-generation devices in various markets, including data centers and consumer electronics.
Despite some challenges, such as inventory rationalization and the necessity of obtaining permits from Chinese authorities for shipping certain substrates, AXT Inc. remains optimistic about its growth prospects. The company continues to prioritize cost savings, efficiency, and profitability while navigating the current market environment.
For more detailed information and latest updates, visit AXT Inc.’s official website at www.axt.com.
AXT Inc reported Q3 2024 financial results with revenue of $23.6 million, showing a 36% increase from Q3 2023 but down from $27.9 million in Q2 2024. GAAP gross margin improved to 24.0% from 10.7% year-over-year. The company reported a GAAP net loss of ($2.9) million, or ($0.07) per share, an improvement from ($5.8) million loss in Q3 2023. Data center-related demand remained strong, with all products showing double-digit year-over-year growth. The company expressed optimism about growth prospects in 2025, particularly in indium phosphide substrates for AI applications.
AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, has announced that it will release its financial results for the third quarter 2024 on October 31, 2024, immediately following the close of market. The company will also host a conference call to discuss these results on the same day at 1:30 p.m. PT.
Investors can access the conference call at (800) 715-9871 using the passcode 4378083. The call will be simulcast on the company's website at www.axt.com. Replays of the call will be available until November 14, 2024, by calling (800) 770-2030 with the same passcode. Additional investor information can be found on the AXT website.
AXT, Inc. (Nasdaq: AXTI), a leading manufacturer of compound semiconductor substrates, has announced its participation in two upcoming financial conferences in Chicago, IL during the third quarter of 2024. The company will attend the Jefferies Semiconductor, IT Hardware & Communications Technology Conference on August 27, 2024, and the Evercore ISI Semiconductor, IT Hardware & Networking Conference on August 28, 2024. These events provide AXT with opportunities to engage with investors and industry professionals, potentially discussing their latest developments and market positioning in the compound semiconductor substrate sector.
AXT, Inc. (NasdaqGS: AXTI) reported strong financial results for Q2 2024. Revenue increased by 23% sequentially and 50% year-over-year to $27.9 million. GAAP gross margin improved to 27.4%, up from 9.2% in Q2 2023. The company reported a GAAP net loss of ($1.5) million, or ($0.04) per share, compared to a loss of ($5.1) million, or ($0.12) per share, in Q2 2023.
CEO Morris Young highlighted growing adoption in new applications, particularly in AI, where indium phosphide is expected to be used in optical transceivers for high-speed data transmission. The company sees tangible signs of market recovery across its product portfolio, despite potential quarterly fluctuations as end markets return to normalized seasonality.
AXT, a leading manufacturer of compound semiconductor substrates, will release its Q2 2024 financial results on August 1, 2024, post-market close. The company will also host a conference call at 1:30 p.m. PT on the same day to discuss the results. The call will be accessible via telephone and simulcast on the company’s website, with replays available until August 15, 2024.
Bronstein, Gewirtz & Grossman, a renowned law firm, has announced a class action lawsuit against AXT, alleging violations of federal securities laws. The lawsuit targets AXT officers and seeks damages for those who acquired AXT securities between March 24, 2021, and April 3, 2024. Key allegations include overstated property holdings, non-disclosure of a failed subsidiary listing in China, environmental violations, unsafe practices, and production decline in 2023. Investors have until July 5, 2024, to request to be lead plaintiff. The firm operates on a contingency fee basis, ensuring no upfront costs for participants.
AXT, Inc. reported strong first-quarter 2024 financial results with an 11% revenue growth quarter over quarter. The company's GAAP gross margin improved to 26.9%, and non-GAAP gross margin was 27.3% for the same quarter. The GAAP net loss was $2.1 million, while the non-GAAP net loss was $1.3 million in Q1 2024. AXT's subsidiary Tongmei's IPO application for the STAR Market was approved, showing promising future growth opportunities.
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