AXT Q1 revenue $19.4M, down 51% YoY; GAAP EPS loss $0.08

AXT INC

2023-Q1 EPS reported -$0.08 revenue$19,405,000

Revenue $19.4M vs $39.7M Q1 2022; GAAP net loss $3.3M ($0.08/sh) vs income $3.2M ($0.07).
GAAP operating loss $4.4M vs profit $3.7M YoY; gross margin 26.3% vs 33.6%.
Non-GAAP net loss $2.4M ($0.06/sh) vs income $4.3M ($0.10) Q1 2022.
CEO cites inventory correction; STAR Market IPO for Tongmei subsidiary still pending CSRC approval.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

AXT INC reported the first quarter ended March 31, 2023 results: revenue $19.4 million, net income a loss of ($3.3) million, or ($0.08) per share, EPS ($0.08) per share.

Period: the first quarter ended March 31, 2023
Revenue: $19.4 million
Net income: a loss of ($3.3) million, or ($0.08) per share
EPS: ($0.08) per share
Result: reported results

Exact text from the filing

expense. Investors can find GAAP to non-GAAP reconciliation tables in the financial statements in this earnings release. ● Revenue for the first quarter of 2023 was $19.4 million, compared with $26.8 million for the fourth quarter of 2022 and $39.7 million for the first quarter of 2022. ● GAAP gross margin was 26.3 percent of revenue for the first

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Source: SEC EDGAR

accession 0001558370-23-007061

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