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
Market Cap
$1.74B
P/E (TTM)
-81.6
47.7
Dividend Yield
--
52W High
$47.03
52W Low
$1.13
52W Range
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
$0.00+0.00%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Revenue Declines Sharply Nine months revenue totaled $65.29M, reflecting a 12.1% decrease compared to $74.26M last year due to market factors.
Gross Profit Severely Impacted Nine months gross profit fell 67.0% to $6.42M versus $19.43M previously, driven by unfavorable yields and product mix shifts.
Net Loss Widens Significantly Net loss attributable to AXT, Inc. reached $(17.71M) for nine months, substantially worse than the $(6.54M) loss reported in 2024.
Liquidity Position Tightens Cash and restricted cash decreased to $31.21M as of September 30, 2025, following net cash usage in operations and investing.
Risk Factors
Escalating Trade Tariffs Risk US tariffs on China products reached 100%; export restrictions and trade volatility severely impact revenue and profitability outlook.
Manufacturing Yield Deterioration Unfavorable yields in GaAs production lines caused a negative gross margin impact, significantly reducing overall profitability metrics.
Tongmei IPO Redemption Risk Failure of Tongmei STAR Market IPO could trigger mandatory redemption rights totaling approximately $49M from private equity investors.
Nasdaq Listing Non-Compliance Company is currently non-compliant with Nasdaq Audit Committee independence rules following director passing; cure period granted until July 2026.
Outlook
Capacity Expansion Planned Intends to construct facilities at Chao Yang LiMei location to provide additional production capacity to meet anticipated future demand.
New Capital Raising Prepared Filed Form S-3 shelf registration statement to potentially offer up to $100.00M in securities for working capital needs.
Monitoring Export Permit Status Actively monitoring status of applications for export permits for indium phosphide substrates to resume US shipments.
Board Governance Adjustments Appointed new director Leonard J. Leblanc to fill vacancy and regain Audit Committee structure compliance.
Peer Comparison
Revenue (TTM)
$3.85B
$514.94M
$390.30M
Gross Margin (Latest Quarter)
78.6%
75.1%
74.4%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| AXTI | $1.74B | -81.6 | -10.4% | 15.1% |
| LPTH | $494.28M | -23.2 | -70.2% | 6.9% |
| NVEC | $326.75M | 23.1 | 23.5% | 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
0%
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