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 ...

Aaron Hawkins AXT, Inc. (NASDAQ:AXTI), a supplier of single element and compound wafer substrates to the semiconductor industry, is expected to release its Q2 FY2024 report on August 1 after the market closes. The last time AXTI reported, the stock soared higher after the Q1 FY2024 report blew past expectations. However, the stock has not done much since due to the lack of a follow through. However, this could be an opportunity, especially if one is long AXTI. Why will be covered next. Why now may be a ...

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of AXT, Inc. (NASDAQ: AXTI). Shareholders who purchased shares of AXTI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/axt-inc-loss-submission-form/?id=88037&from=3 CLASS PERIOD: March 24, 2021 to April 3, 2 ...

NEW YORK, June 28, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of AXT, Inc. (NASDAQ: AXTI).Shareholders who purchased shares of AXTI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/axt-inc-loss-submission-form/?id=87814&from=4CLASS PERIOD: March 24, 2021 to April 3, 2024ALLEG ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In AXT To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $75,000 investing in AXT stock or options between March 24, 2021 and April 3, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/A ...

NEW YORK, June 25, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of AXT, Inc. (NASDAQ: AXTI).Shareholders who purchased shares of AXTI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE: https://securitiesclasslaw.com/securities/axt-inc-loss-submission-form/?id=87102&from=4 CLASS PERIOD: March 24, 2021 to April 3, 2024ALL ...

NEW YORK, June 23, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of AXT, Inc. (NASDAQ: AXTI) between March 24, 2021 and April 3, 2024, both dates inclusive (the “Class Period”), of the important July 5, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased AXT securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs ...

LOS ANGELES, June 21, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming July 5, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired AXT, Inc. (“AXT” or the “Company”) (NASDAQ: AXTI) securities between March 24, 2021 and April 3, 2024,, inclusive (the “Class Period”). If you suffered a loss on your AXT investments or would like to inquire about potentially pursuing claims to recover you ...