AXT INCAXTIEarnings & Financial Report
AXT Inc designs, manufactures and sells high-performance compound semiconductor substrates, including gallium arsenide, indium phosphide and germanium wafers. Its products power optoelectronic and radio frequency devices for global communications, consumer electronics and industrial end markets.
Revenue
$18.0M
Gross Profit
$1.4M
Operating Profit
$-6.7M
Net Profit
$-7.0M
Gross Margin
8.0%
Operating Margin
-37.5%
Net Margin
-39.0%
YoY Growth
-35.6%
EPS
$-0.16
AXT INC Q2 FY2025 Financial Summary
AXT INC reported revenue of $18.0M (down 35.6% YoY) for Q2 FY2025, with a net profit of $-7.0M (down 362.3% YoY) (-39.0% margin). Cost of goods sold was $16.5M, operating expenses totaled $8.2M.
Key Financial Metrics
| Total Revenue | $18.0M |
|---|---|
| Net Profit | $-7.0M |
| Gross Margin | 8.0% |
| Operating Margin | -37.5% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
AXT INC Q2 FY2025 revenue of $18.0M breaks down across 2 segments, led by Substrates at $11.3M (62.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Substrates | $11.3M | 62.8% |
| Five Minority Investments | $7.1M | 39.3% |
AXT INC Revenue by Segment — Quarterly Trend
AXT INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Substrates and Five Minority Investments) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Substrates | — | $15.3M | $21.3M | $11.3M |
| Five Minority Investments | — | $7.8M | — | $7.1M |
AXT INC Annual Revenue by Year
AXT INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $88.3M).
| Year | Annual Revenue |
|---|---|
| 2025 | $88.3M |
| 2024 | $99.4M |
| 2023 | $75.8M |
| 2022 | $141.1M |
AXT INC Quarterly Revenue & Net Profit History
AXT INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $26.9M | +39.1% | N/A | N/A |
| Q4 FY2025 | $23.0M | -8.2% | $-3.5M | -15.4% |
| Q3 FY2025 | $28.0M | +18.2% | $-1.9M | -6.8% |
| Q2 FY2025 | $18.0M | -35.6% | $-7.0M | -39.0% |
| Q1 FY2025 | $19.4M | -14.7% | $-8.8M | -45.5% |
| Q4 FY2024 | $25.1M | +22.9% | $-5.1M | -20.3% |
| Q3 FY2024 | $23.6M | +36.2% | $-2.9M | -12.4% |
| Q2 FY2024 | $27.9M | +50.2% | $-1.5M | -5.4% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $27.9M | $23.6M | $25.1M | $19.4M | $18.0M | $28.0M | $23.0M | $26.9M |
| YoY Growth | 50.2% | 36.2% | 22.9% | -14.7% | -35.6% | 18.2% | -8.2% | 39.1% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $349.4M | $355.6M | $339.3M | $333.5M | $329.0M | $334.0M | $433.8M | $444.6M |
| Liabilities | $86.3M | $89.4M | $84.4M | $87.3M | $88.4M | $93.6M | $99.1M | $107.6M |
| Equity | $199.7M | $200.7M | $192.8M | $185.0M | $179.7M | $179.1M | $273.3M | $298.4M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $843000 | $-5.4M | $1.3M | $-3.3M | $-4.6M | $-9.2M | $4.3M |