AXT (AXTI) Earnings Call Presentation

Company Overview - AXT was founded in 1986 and had its IPO in 1998[4] - The company operates in three locations in China: Beijing, Kazuo, and Dingxing[4] Products and Markets - Indium Phosphide (InP) is a growth engine, with expanding applications and a long product life cycle[6] - Gallium Arsenide (GaAs) has a long product life cycle with new applications, and AXT supplied first 8-inch GaAs wafers in April 2021[14] - Germanium (Ge) is primarily used in satellite solar cells, and the satellite solar cell market is increasing[22, 25] Financial Performance - In 2023, AXT's revenue was $75.8 million[29] - In 2022, AXT's revenue was $141.1 million[29] - In 2023, the Non-GAAP Gross Margin was 18.1%[29] - In 2023, the Non-GAAP Net Profit/(Loss) was ($14.3) million[29] Tongmei STAR Market Listing - AXT currently owns approximately 85.5% of Tongmei[31] - If the IPO is approved, AXT would own approximately 77% of Tongmei, selling an additional 10%[31]