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AXTI stock ticker logo

AXT, Inc.

NASDAQ•AXTI
CEO: Dr. Morris S. Young Ph.D.
Sector: Technology
Industry: Semiconductors
Listing Date: 1998-05-21
AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging. It also provides semi-insulating gallium arsenide (GaAs) substrates for use in Wi-Fi and IoT devices, transistors, direct broadcast television, power amplifiers, satellite communications, and solar cells; and semi-conducting GaAs substrates that are used in LEDs, screen displays using micro-LEDs, printer head lasers and LEDs, 3-D sensing using VCSELs, data center communication using VCSELs, sensors for industrial robotics/near-infrared sensors, optical couplers, solar cells, night vision goggles, lidar for robotics and autonomous vehicles, and other lasers, as well as laser machining, cutting, and drilling. In addition, the company offers germanium substrates for use in multi-junction solar cells for satellites, optical sensors and detectors, terrestrial concentrated photo voltaic cells, infrared detectors, and carrier wafer for LED. Further, it provides 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, pyrolytic boron nitride (pBN) crucibles, and pBN insulating parts. It sells its products through direct salesforce in the United States, China, and Europe, as well as through independent sales representatives and distributors in Japan, Taiwan, Korea, and internationally. The company was formerly known as American Xtal Technology, Inc. and changed its name to AXT, Inc. in July 2000. AXT, Inc. was incorporated in 1986 and is headquartered in Fremont, California.
Contact Information
4281 Technology Drive, Fremont, CA, 94538, United States
510-438-4700
www.axt.com
Market Cap
$2.96B
P/E (TTM)
-141.6
53
Dividend Yield
--
52W High
$71.49
52W Low
$1.14
52W Range
94%
Rank44Top 53.8%
3.7
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$23.04M+0.00%
4-Quarter Trend

EPS

-$0.08+0.00%
4-Quarter Trend

FCF

$1.26M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Financing Boosts Liquidity Financing activities provided $107.1M, driven by $95.2M common stock offering in December 2025, increasing cash reserves.
Substrate Sales Decline Wafer substrate sales decreased $8.8M (13.1%) to $58.9M in 2025, primarily resulting from lower germanium wafer sales volume.
Gross Margin Significantly Compressed Gross profit fell $12.6M (52.8%) to $11.2M in 2025; margin compressed to 12.7% due to lower revenue spreading fixed costs.
R&D Spending Decreases Research and development expenses dropped $5.5M (37.8%) to $9.0M in 2025, reflecting reduced material usage for new product testing.

Risk Factors

North America Sales Plummet North America revenue dropped $5.9M (77.5%) to $1.7M in 2025, heavily impacted by China's InP export restrictions announced in February 2025.
China Export Permits Remain Challenge InP export permits remain uncertain, creating anxiety for customers and impacting revenue generation, especially for US sales.
Shareholder Litigation Pending Putative shareholder class action filed in 2024 remains pending; derivative lawsuit appeals are currently being briefed in the Ninth Circuit.
Raw Materials Revenue Decline Raw materials revenue fell $2.2M (6.9%) to $29.4M in 2025, due to reduced purified gallium sales despite pBN crucible revenue increase.

Outlook

Tongmei STAR Market IPO Tongmei IPO remains subject to CSRC review and approval; company hopes to accomplish listing goal in the coming months.
Promote InP Strengths Strategically Intends to promote "best in class" InP wafer capabilities, anticipating increased demand from cloud data centers and AI applications.
Fund Export Capacity Expansion Net proceeds from the December 2025 offering will financially support Tongmei's efforts to increase indium phosphide export capacity worldwide.
Increase Manufacturing Efficiencies Will seek to leverage China-based manufacturing advantages by increasing efficiencies in methods, systems, and processes via continuous improvement.

Peer Comparison

Revenue (TTM)

BKKT stock ticker logoBKKT
$2.35B
-32.5%
WALD stock ticker logoWALD
$545.94M
+42.1%
TCX stock ticker logoTCX
$390.30M
+7.7%

Gross Margin (Latest Quarter)

NVEC stock ticker logoNVEC
78.6%
-5.7pp
LAW stock ticker logoLAW
75.1%
+2.4pp
RPAY stock ticker logoRPAY
74.2%
-3.4pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
AXTI$2.96B-141.6-10.4%15.1%
LPTH$623.41M-29.3-70.2%6.9%
NVEC$370.72M26.223.5%2.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
6.0%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Deep Research

Next earnings:Apr 23, 2026
|
EPS:-$0.05
|
Revenue:$26.22M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data