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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. 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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