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Side-by-side financial comparison of AXT INC (AXTI) and IRIDEX CORP (IRIX). Click either name above to swap in a different company.
AXT INC is the larger business by last-quarter revenue ($26.9M vs $14.7M, roughly 1.8× IRIDEX CORP). On growth, AXT INC posted the faster year-over-year revenue change (39.1% vs -69.7%). Over the past eight quarters, IRIDEX CORP's revenue compounded faster (11.9% CAGR vs -1.8%).
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.
IRIDEX Corporation is a global medical technology company that designs, manufactures and distributes advanced laser-based medical devices, primarily serving the ophthalmology and aesthetic medicine sectors. It supplies products to healthcare providers, clinics and medical facilities across North America, Europe, Asia Pacific and other regions, delivering minimally invasive solutions for eye disease treatment and cosmetic procedures.
AXTI vs IRIX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.9M | $14.7M |
| Net Profit | — | — |
| Gross Margin | 29.6% | 37.2% |
| Operating Margin | 64.5% | — |
| Net Margin | — | — |
| Revenue YoY | 39.1% | -69.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $26.9M | — | ||
| Q4 25 | $23.0M | $14.7M | ||
| Q3 25 | $28.0M | $12.5M | ||
| Q2 25 | $18.0M | $13.6M | ||
| Q1 25 | $19.4M | $11.9M | ||
| Q4 24 | $25.1M | $12.7M | ||
| Q3 24 | $23.6M | $11.6M | ||
| Q2 24 | $27.9M | $12.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-3.5M | — | ||
| Q3 25 | $-1.9M | $-1.6M | ||
| Q2 25 | $-7.0M | $-994.0K | ||
| Q1 25 | $-8.8M | $-1.7M | ||
| Q4 24 | $-5.1M | $-834.0K | ||
| Q3 24 | $-2.9M | $-1.9M | ||
| Q2 24 | $-1.5M | $-2.7M |
| Q1 26 | 29.6% | — | ||
| Q4 25 | 20.9% | 37.2% | ||
| Q3 25 | 22.3% | 32.1% | ||
| Q2 25 | 8.0% | 34.5% | ||
| Q1 25 | -6.4% | 42.5% | ||
| Q4 24 | 17.6% | 44.0% | ||
| Q3 24 | 24.0% | 37.3% | ||
| Q2 24 | 27.4% | 40.7% |
| Q1 26 | 64.5% | — | ||
| Q4 25 | -16.6% | — | ||
| Q3 25 | -4.0% | -11.3% | ||
| Q2 25 | -37.5% | -6.9% | ||
| Q1 25 | -53.1% | -1.7% | ||
| Q4 24 | -24.6% | -3.9% | ||
| Q3 24 | -14.4% | -16.1% | ||
| Q2 24 | -6.8% | -20.9% |
| Q1 26 | — | — | ||
| Q4 25 | -15.4% | — | ||
| Q3 25 | -6.8% | -12.6% | ||
| Q2 25 | -39.0% | -7.3% | ||
| Q1 25 | -45.5% | -14.2% | ||
| Q4 24 | -20.3% | -6.6% | ||
| Q3 24 | -12.4% | -16.7% | ||
| Q2 24 | -5.4% | -21.2% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.09 | — | ||
| Q3 25 | $-0.04 | $-0.09 | ||
| Q2 25 | $-0.16 | $-0.06 | ||
| Q1 25 | $-0.20 | $-0.10 | ||
| Q4 24 | $-0.11 | $-0.05 | ||
| Q3 24 | $-0.07 | $-0.12 | ||
| Q2 24 | $-0.04 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $107.1M | $6.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $298.4M | — |
| Total Assets | $444.6M | $29.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $107.1M | — | ||
| Q4 25 | $120.3M | $6.0M | ||
| Q3 25 | $23.1M | $5.6M | ||
| Q2 25 | $27.0M | $6.8M | ||
| Q1 25 | $31.6M | $7.2M | ||
| Q4 24 | $22.8M | $2.4M | ||
| Q3 24 | $24.9M | $3.9M | ||
| Q2 24 | $29.5M | $4.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.0M | ||
| Q3 24 | — | $1.4M | ||
| Q2 24 | — | — |
| Q1 26 | $298.4M | — | ||
| Q4 25 | $273.3M | — | ||
| Q3 25 | $179.1M | $4.7M | ||
| Q2 25 | $179.7M | $6.1M | ||
| Q1 25 | $185.0M | $852.0K | ||
| Q4 24 | $192.8M | $2.1M | ||
| Q3 24 | $200.7M | $2.6M | ||
| Q2 24 | $199.7M | $4.2M |
| Q1 26 | $444.6M | — | ||
| Q4 25 | $433.8M | $29.2M | ||
| Q3 25 | $334.0M | $28.4M | ||
| Q2 25 | $329.0M | $31.6M | ||
| Q1 25 | $333.5M | $34.2M | ||
| Q4 24 | $339.3M | $29.1M | ||
| Q3 24 | $355.6M | $30.2M | ||
| Q2 24 | $349.4M | $31.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
