AXT Q2 2025 revenue $18M, net loss $7M; GaAs export delays and China sluggishness

AXT INC

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

Revenue $18.0M, down 36% YoY from $27.9M; QoQ down from $19.4M.
GAAP net loss $7.0M ($0.16/sh) vs loss $1.5M YoY; non-GAAP loss $6.4M ($0.15/sh).
GAAP gross margin 8.0%, improved from (6.4%) Q1 but down from 27.4% YoY.
CEO: longer GaAs export permit processing & China demand sluggishness; AI-driven InP demand growing.
Tongmei STAR Market IPO still pending CSRC approval; expects completion in coming months.

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