AXT, Inc. (NASDAQ:AXTI) Q3 2020 Earnings Conference Call October 28, 2020 4:30 PM ET Company Participants Leslie Green - Investor Relations Morris Young - Chief Executive Officer Gary Fischer - Chief Financial Officer Conference Call Participants Richard Shannon - Craig-Hallum Gus Richard - Northland Hamed Khorsand - BWS Financial Operator Good afternoon, everyone, and welcome to AXT's Third Quarter 2020 Financial Conference Call. Leading the call today is Dr. Morris Young, Chief Executive Officer; and Mr. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2020 Or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number 000-24085 AXT, INC. (Exact name of registrant as specified in its charter) DELAWARE 94-3031310 (State or other jurisdiction of Incorp ...

AXT, Inc. (NASDAQ:AXTI) Q2 2020 Earnings Conference Call July 22, 2020 4:30 PM ET Company Participants Leslie Green - Investor Relations Morris Young - Founder and CEO Gary Fischer - Vice President and CFO Conference Call Participants Richard Shannon - Craig-Hallum Gus Richard - Northland Quinn Bolton - Needham Hamed Khorsand - BWS Financial Dave Kang - B. Riley Operator Good afternoon, everyone and welcome to AXT’s Second Quarter 2020 Financial Conference Call. Leading the call today is Dr. Morris Young, C ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2020 Or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number 000-24085 AXT, INC. (Exact name of registrant as specified in its charter) DELAWARE 94-3031310 (State or other jur ...

AXT, Inc. (NASDAQ:AXTI) Q1 2020 Earnings Conference Call April 22, 2020 4:30 PM ET Company Participants Leslie Green - IR Morris Young - CEO Gary Fischer - CFO Conference Call Participants Richard Shannon - Craig-Hallum Hamed Khorsand - BWS Financial Dave Kang - B. Riley FBR Gus Richard - Northland Operator Good afternoon, everyone and welcome to AXT's First Quarter 2020 Financial Conference Call. Leading the call today is Dr. Morris Young, Chief Executive Officer; and Gary Fischer, Chief Financial Officer. ...

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AXT, Inc. (NASDAQ:AXTI) Q4 2019 Results Earnings Conference Call February 19, 2020 4:30 AM ET Company Participants Leslie Green - Investor Relations Morris Young - Chief Executive Officer Gary Fischer - Vice President and Chief Financial Officer Conference Call Participants Richard Shannon - Craig-Hallum Gus Richard - Northland Capital Markets Dave Kang - B. Riley & Co. Operator [Technical Difficulty] In the fourth quarter of 2019, revenue from North America was 10%, Asia pacific 68% and Europe 22%. In the ...

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Financial Data and Key Metrics Changes - Total revenue for Q3 2019 was $19.8 million, down from $24.8 million in Q2 2019 and $28.6 million in Q3 2018 [5][6] - Gross margin decreased to 29.0% from 34.3% in the prior quarter, primarily due to lower volume and product mix [6][7] - Net loss for Q3 2019 was $898,000, or a loss of $0.02 per share, compared to a net income of $1.5 million in Q2 2019 and $3.9 million in Q3 2018 [8][7] - Cash, cash equivalents, and investments increased to $38.5 million as of September 30, 2019, up from $37.5 million at June 30, 2019 [8] Business Line Data and Key Metrics Changes - Substrate sales were $16.0 million in Q3, down from $20.6 million in Q2 2019 [6] - Revenue from raw material joint ventures was $3.9 million in Q3, compared to $4.2 million in Q2 and $5.8 million in Q3 2018 [6] - Indium phosphide substrate revenue remained steady sequentially in Q3, but could not compensate for the absence of a large telecommunication order from Q2 [13] Market Data and Key Metrics Changes - Revenue distribution in Q3 2019: North America 9%, Asia Pacific 66%, Europe 25% [6] - The U.S. market for compound semiconductor substrates faced significant challenges, particularly due to geopolitical tensions [10] Company Strategy and Development Direction - The company is focused on executing its relocation in China, having completed necessary permitting for both Beijing and Chaozhou locations [10][11] - New facilities are designed to meet environmental standards and are optimized for manufacturing processes, allowing for capacity expansion [11] - The company aims to ramp up production in the new facilities to support expected customer volume increases in the coming quarters [12] Management's Comments on Operating Environment and Future Outlook - The management expressed that Q3 was a challenging quarter with a weakened demand environment and poor visibility [9][10] - Despite near-term challenges, the company remains optimistic about long-term technology trends driving demand for its products, particularly in datacenter upgrades and 5G infrastructure [14][15] - The management noted that the gallium arsenide market holds significant opportunities, with expectations for recovery in 2020 [15] Other Important Information - The company expects Q4 revenue to be between $19.5 million to $20.5 million, with a projected loss per share of $0.06 to $0.08 [18] - The company has a $10 million line of credit with Wells Fargo Bank, which has not been utilized [8] Q&A Session Summary Question: Can you walk us through the different businesses within the guidance and comment on lower gross margins? - Management indicated that lower gross margins were due to lower volume and changes in product mix, particularly following a strong Q2 in the Indium phosphide business [20][21] Question: Do you see any key market or product group recovering faster than others? - Management expects LED and gallium arsenide to be slightly stronger in Q4, while Indium phosphide is anticipated to decline further [23][24] Question: Can you elaborate on the milestone of the permit mentioned? - Management confirmed that all necessary permits for volume production have been obtained, which is crucial for ramping up production [28][29] Question: How certain are you that you haven't lost any customers or orders? - Management expressed confidence in retaining customers, particularly in the Indium phosphide segment, and noted that some customers are transitioning products [38][39] Question: What are the intermediate to longer-term plans for the Beijing facility? - Management indicated that the new facility in Chaozhou is ramping up rapidly, while Dingxing is processing a smaller portion of customer demand [49][50]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended June 30, 2019 Or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to Commission File Number 000-24085 AXT, INC. (Exact name of registrant as specified in its charter) DELAWARE 94-3031310 (State or other juri ...