Earnings ·
AXT, Inc. reported financial results for the quarter ended June 30, 2026, announcing a significant turnaround in…
AXTIAxt Inc
AXT, Inc. reported financial results for the quarter ended June 30, 2026, announcing a significant turnaround in profitability and revenue growth. Second-quarter revenue reached $47.6 million, up from $26.9 million in Q1 2026 and $18.0 million in Q2 2025. The company recorded its highest quarterly indium phosphide revenue to date, driven by strong demand for data center optical connectivity. GAAP net income was $11.1 million, or $0.17 diluted earnings per share, compared to a net loss of $7.0 million in the prior year period. Gross margins expanded substantially, with GAAP gross margin reaching 44.9 percent versus 8.0 percent in Q2 2025. AXT operates as a manufacturer of compound semiconductor wafer substrates including indium phosphide, gallium arsenide, and germanium for applications such as 5G infrastructure and silicon photonics.