Welcome to our dedicated page for Axt news (Ticker: AXTI), a resource for investors and traders seeking the latest updates and insights on Axt stock.
AXT Inc (AXTI) is a leading developer of compound semiconductor substrates critical for advanced electronics and communications systems. This dedicated news hub provides investors and industry professionals with centralized access to official announcements, financial disclosures, and strategic developments.
Track key updates including quarterly earnings reports, manufacturing innovations, and material science breakthroughs in gallium arsenide and indium phosphide technologies. Our curated feed ensures timely access to operational milestones, partnership announcements, and leadership changes impacting AXTI's position in the semiconductor sector.
All content is sourced directly from company filings and verified industry publications, maintaining strict editorial neutrality. The resource serves both technical experts seeking substrate development details and investors analyzing market trends. Bookmark this page for efficient monitoring of AXTI's progress in enabling next-generation semiconductor applications across global markets.
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.
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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