AXT cuts Q2 revenue guidance to $17.5-18M on export permit delays and weak China demand

AXT INC

2025-Q2 EPS reported -$0.36 revenue$37,330,000

Preliminary Q2 2025 revenue $17.5-18M, below prior guidance of $20-22M.
Revenue shortfall driven by slower export control permits for GaAs products and weaker China demand.
AI-related demand for indium phosphide increased in Q2; Tongmei received first export permits for InP late Q2.
Company expects Q2 2025 gross margins in high single digits despite revenue miss.
Full Q2 2025 earnings scheduled for July 31, 2025; conference call at 1:30 p.m. PT.

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