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]

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 ...

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, 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 Incor ...

AXT, Inc. (NASDAQ:AXTI) Q1 2024 Earnings Conference Call May 4, 2024 4:30 PM ET Company Participants Leslie Green - Head, Investor Relations Gary Fischer - Vice President and Chief Financial Officer Morris Young - Chief Executive Officer Conference Call Participants Charles Shi - Needham Richard Shannon - Craig-Hallum Tim Savageaux - Northland Securities Danny Cheng - B. Riley Securities Matt Bryson - Wedbush Securities Operator Good afternoon, everyone, and welcome to AXT's First Quarter 2024 Earnings Call ...

Y | --- | --- | |-------|------------------------------------------------| | | | | | Exhibit 99.1 | | | AXT, Inc. First Quarter 2024 Results | | | May 2, 2024 | | | Page 1 of 7 | AXT, Inc. Announces First Quarter 2024 Financial Results Revenue Grows 11% Quarter to Quarter; Indium Phosphide up 48% FREMONT, Calif., May 2, 2024 – AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor wafer substrates, today reported financial results for the first quarter, ended March 31, 2024. Management ...

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, 2023 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 (AXTI) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, AXTI's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross."Considered an important signifier for a bullish breakout, a golden cross is a technical chart pattern that's formed when a stock's short-term moving average breaks above a longer-term moving average; the most common crossover involves the 50-day and the 200-day, sinc ...

AXT, Inc. (NASDAQ:AXTI) Q4 2023 Results Conference Call February 22, 2024 4:30 PM ET Company Participants Leslie Green - IR Morris Young - CEO Gary Fischer - CFO Conference Call Participants Richard Shannon - Craig-Hallum Charles Shi - Needham & Company Operator Good afternoon, everyone, and welcome to AXT's Fourth Quarter and Fiscal Year 2023 Financial Conference Call. Leading the call today is Dr. Morris Young, Chief Executive Officer; and Gary Fischer, Chief Financial Officer. My name is Eric, and I will ...

AXT (AXTI) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 46.15%. A quarter ago, it was expected that this semiconductor materials supplier would post a loss of $0.13 per share when it actually produced a loss of $0.12, delivering a surprise of 7.69%.Over the last four quarters, the comp ...

Revenue Performance - Revenue for Q4 2023 was $20.4 million, a sequential increase of 18% from $17.4 million in Q3 2023, but down from $26.8 million in Q4 2022[5] - Fiscal year 2023 revenue was $75.8 million, significantly down from $141.1 million in fiscal year 2022[8] - Revenue for Q4 2023 was $20,429 million, a decrease of 23.6% from $26,795 million in Q4 2022[20] Profitability Metrics - GAAP gross margin for Q4 2023 was 22.6%, up from 10.7% in Q3 2023, but down from 32.1% in Q4 2022[5] - Non-GAAP gross margin for fiscal year 2023 was 18.1%, down from 37.2% in fiscal year 2022[8] - Gross profit for Q4 2023 was $4,627 million, down 46.1% from $8,596 million in Q4 2022[20] - GAAP net loss for fiscal year 2023 was ($17.9) million, or ($0.42) per share, compared to net income of $15.8 million, or $0.37 per share in fiscal year 2022[9] - Non-GAAP net loss for Q4 2023 was ($2.8) million, or ($0.07) per share, compared to a net loss of ($4.9) million, or ($0.12) per share in Q3 2023[7] - Net loss attributable to AXT, Inc. for Q4 2023 was $3,621 million, compared to a net income of $1,341 million in Q4 2022[20] - Basic net income (loss) per share for Q4 2023 was $(0.09), compared to $0.03 in Q4 2022[20] Operating Performance - GAAP operating loss for Q4 2023 was ($3.6) million, an improvement from a loss of ($6.7) million in Q3 2023[6] - Total operating expenses for Q4 2023 were $8,187 million, a reduction of 14.5% from $9,597 million in Q4 2022[20] Cash and Assets - Cash and cash equivalents increased to $37,752 million in Q4 2023 from $34,948 million in Q4 2022[22] - Total assets decreased to $358,701 million in Q4 2023 from $370,072 million in Q4 2022[22] - Total liabilities increased to $89,555 million in Q4 2023 from $80,326 million in Q4 2022[22] Market Trends and Outlook - Management noted increased orders for indium phosphide driven by demand in AI and fiber optic applications[4] - The gallium arsenide market has largely worked through excess inventory, reflecting improved demand[4] - AXT is optimistic about 2024, citing trends in revenue and customer expansion, particularly in AI applications[4] Shareholder Information - Weighted-average number of common shares outstanding for Q4 2023 was 42,851 million, compared to 42,705 million in Q4 2022[25] - Non-GAAP net loss for Q4 2023 was $2,799 million, compared to a non-GAAP net income of $2,086 million in Q4 2022[25]