Company Performance - AXT reported a quarterly loss of $0.05 per share, which was better than the Zacks Consensus Estimate of a loss of $0.06, and an improvement from a loss of $0.12 per share a year ago, representing an earnings surprise of 16.67% [1] - The company posted revenues of $23.65 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 8.97%, but showing an increase from year-ago revenues of $17.37 million [2] - AXT has surpassed consensus EPS estimates four times over the last four quarters and topped consensus revenue estimates three times during the same period [2] Stock Outlook - AXT shares have increased by approximately 15% since the beginning of the year, while the S&P 500 has gained 21.9% [3] - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at -$0.02 on $27.8 million in revenues for the coming quarter and -$0.13 on $104.34 million in revenues for the current fiscal year [4][7] - The current estimate revisions trend for AXT is mixed, resulting in a Zacks Rank 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Industry Context - The Electronics - Semiconductors industry, to which AXT belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, suggesting that the industry's outlook can significantly impact stock performance [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5]

Revenue and Profitability - Revenue for Q3 2024 was $23.6 million, a 36% increase compared to $17.4 million in Q3 2023[3] - GAAP gross margin improved to 24.0% in Q3 2024 from 10.7% in Q3 2023[4] - GAAP gross profit for Q3 2024 was $5,682 thousand, up from $1,866 thousand in Q3 2023, representing a 204% increase[17] - Non-GAAP gross margin for Q3 2024 was 24.3%, up from 11.3% in Q3 2023[4] - Non-GAAP gross profit for Q3 2024 was $5,755 thousand, compared to $1,968 thousand in Q3 2023, indicating a 192% increase[17] Net Loss and Expenses - GAAP net loss decreased to ($2.9) million, or ($0.07) per share, compared to a net loss of ($5.8) million, or ($0.14) per share in Q3 2023[5] - Non-GAAP net loss for Q3 2024 was ($2.1) million, or ($0.05) per share, compared to ($4.9) million, or ($0.12) per share in Q3 2023[6] - Total operating expenses for Q3 2024 were $9.1 million, compared to $8.6 million in Q3 2023[14] - GAAP loss from operations for Q3 2024 was $(3,406) thousand, improved from $(6,727) thousand in Q3 2023, a 49% improvement[17] - Non-GAAP loss from operations for Q3 2024 was $(2,586) thousand, compared to $(5,836) thousand in Q3 2023, indicating a 56% improvement[17] Cash and Liabilities - Cash and cash equivalents decreased to $24.9 million from $37.8 million in the previous year[15] - Total current liabilities decreased to $78,773 thousand from $81,557 thousand year-over-year, a reduction of 3.5%[16] - Total liabilities remained relatively stable at $89,361 thousand compared to $89,555 thousand in the previous year[16] - Stockholders' equity decreased to $224,982 thousand from $227,483 thousand, a decline of 1.1%[16] Future Outlook and Developments - The company anticipates new order momentum in indium phosphide substrates for AI applications[2] - The company is optimistic about growth and expansion as signs of recovery are tangible across its product portfolio[2] - AXT's subsidiary, Tongmei, is in the process of an IPO on the STAR Market, pending regulatory approval[7] Share Information - Shares used to compute diluted net income per share increased to 43,157 thousand from 42,638 thousand year-over-year[17]

AXT, Inc. (NASDAQ: AXTI ), a supplier of single element and compound wafer substrates and materials to the semiconductor industry, has been up and down all year. AXTI has rebounded in recent weeks, and it is up by a modest amount in Welcome to my author's site. As an avid follower of SeekingAlpha, I take great interest in articles posted as the subject matter is often something that appeals to me. However, I will sometimes encounter an article that I might not agree with. My purpose is to present an alterna ...

NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against AXT, Inc. (NASDAQ: AXTI) on behalf of long-term stockholders following a class action complaint that was filed against AXT on May 6, 2024 with a Class Period from March 24, 2021 to April 3, 2024. Our investigation concerns whether the board of directors of AXT have breached their fiduciary duties to the company. According to the lawsuit, defe ...

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, 2024 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 ...

Investors might want to bet on AXT (AXTI) , as it has been recently upgraded to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a changing earnings pi ...

Just_Super/iStock via Getty Images Note: I have covered AXT, Inc. or "AXT" (NASDAQ:AXTI) previously, so investors should view this as an update to my earlier articles on the company. Last week, semiconductor substrate provider AXT, Inc. reported better-than-expected Q2/2024 results, with both revenues and profitability coming in ahead of consensus estimates: Company Press Releases While the press release did not include a cash flow statement, based on sequential changes in the company's key balance sh ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $27.9 million, up 23% from $22.7 million in Q1 2024, and up 50% from $18.6 million in Q2 2023 [5] - Non-GAAP gross margin was 27.6% in Q2 2024 compared to 27.3% in Q1 2024 and 9.8% in Q2 2023 [7] - Non-GAAP net loss for Q2 2024 was $800,000, or $0.02 per share, compared to a loss of $1.3 million, or $0.03 per share in Q1 2024 [8] Business Line Data and Key Metrics Changes - Indium phosphide revenue was $7.7 million, driven by demand from data center applications and AI [5] - Gallium arsenide revenue grew to $9.1 million, reflecting broad-based improvement across various applications [5] - Germanium substrates revenue was $2.9 million, showing renewed strength in demand for satellite solar cells [5] Market Data and Key Metrics Changes - Revenue from Asia Pacific accounted for 78%, Europe 17%, and North America 5% in Q2 2024 [6] - The top five customers generated approximately 31.8% of total revenue, with no single customer exceeding 10% [6] Company Strategy and Development Direction - The company is optimistic about growth in high-value applications, particularly in AI and optical connectivity [11] - Plans to list the subsidiary Tongmei on the STAR Market in Shanghai are progressing positively, with expectations for updates in the fall [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the recovery in various segments may be lumpy quarter-to-quarter, but overall growth is expected [11] - There is confidence in the growth potential of indium phosphide due to emerging applications in AI and high-speed data transmission [12][13] Other Important Information - Cash, cash equivalents, and investments increased by $2 million to $43.3 million as of June 30, 2024 [9] - The company is focused on reducing inventory levels, particularly in indium phosphide, while also benefiting from a successful recycling program [41] Q&A Session Summary Question: Insights on Q3 guidance and product category performance - Management indicated that indium phosphide and raw materials are expected to hold steady, while gallium arsenide may see moderation [21][22] Question: Changes in AI opportunities for indium phosphide - Management expressed confidence in indium phosphide's role in AI applications, although specific applications remain uncertain [24][26] Question: Market share and competition in indium phosphide - Management believes they maintain a competitive edge in quality over competitors, particularly Sumitomo [58][59] Question: Tongmei listing situation - Management remains optimistic about the listing process, noting that they have not received negative feedback from the Shanghai Stock Exchange [61][62]

AXT (AXTI) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this semiconductor materials supplier would post a loss of $0.08 per share when it actually produced a loss of $0.03, delivering a surprise of 62.50%.Over the last four quarters, the company ha ...

Y Exhibit 99.1 AXT, Inc. Second Quarter 2024 Results August 1, 2024 Page 1 of 7 AXT, Inc. Announces Second Quarter 2024 Financial Results Revenue up 23 percent sequentially and up 50 percent from Q2 2023 FREMONT, Calif., August 1, 2024 – AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor wafer substrates, today reported financial results for the second quarter, ended June 30, 2024. Management Qualitative Comments "Q2 was another solid quarter of growth, with our revenues up 23 perc ...