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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. (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.
AXT, Inc. (NASDAQ: AXTI) will release its financial results for Q2 2021 after market close on July 27, 2021. A conference call discussing these results will be held the same day at 1:30 p.m. PT, accessible at (844) 892-6598 with passcode 4868076. The call will also be available through a simulcast on www.axt.com. AXT manufactures compound semiconductor substrates used in various applications including 5G infrastructure and LED lighting, with headquarters in Fremont, California, and operations in China.
AXT, Inc. (NasdaqGS: AXTI) has achieved a significant milestone by developing and shipping its first 8-inch diameter gallium arsenide (GaAs) substrates to a major customer. These silicon doped, n-type substrates exhibit low etch pit densities and slip lines, essential for high-volume applications such as VCSELs for 3D sensors and LiDAR. The company expects increased demand for 8-inch GaAs wafers as these applications grow. AXT’s new manufacturing facilities are designed for scaling up production, ensuring commercial viability for these substrates.
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