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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 ...

AXT Inc. (NASDAQ:AXTI) Q2 2019 Earnings Conference Call July 24, 2019 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 Capital Markets Quinn Bolton - Needham Gus Richard - Northland Hamed Khorsand - BWS Financial Mason Hemze - Dougherty & Company Operator Good afternoon, everyone and welcome to AXT’s Second Quarter 2019 Financial Conference Call. Leading ...

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, 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 jur ...

AXT, Inc. (NASDAQ:AXTI) Q1 2019 Earnings Conference Call April 24, 2019 4:30 PM ET Company Participants Leslie Green - IR Dr. Morris Young - CEO Gary Fischer - CFO Conference Call Participants Richard Shannon - Craig-Hallum Chase Bunnell - Dougherty Hamed Khorsand - BWS Financial Operator Good afternoon everyone and welcome to AXT First Quarter 2019 Financial Conference Call. Leading the call today is Dr. Morris Young, Chief Executive Officer and Gary Fischer, Chief Financial Officer. My name is Sarah and I ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 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 jurisdi ...

AXT, Inc. (NASDAQ:AXTI) Q4 2018 Earnings Conference Call February 20, 2019 4:30 PM 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 Quinn Bolton - Needham & Company Hamed Khorsand - BWS Financial Gus Richard - Northland Operator Good afternoon everyone and welcome to AXT's Fourth Quarter and Fiscal Year 2018 Financial Conference Call. Leading t ...