---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-007061"
form_type: "8-K"
ticker: "AXTI"
cik: "0001051627"
company_name: "AXT INC"
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T07:53:06.499687+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-007061
- form_type: 8-K
- ticker: AXTI
- cik: 0001051627
- company_name: AXT INC
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051627/000155837023007061/0001558370-23-007061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051627/000155837023007061/axti-20230427x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-007061
- JSON: https://secwatch.observer/filing/0001558370-23-007061.json
- Plain text: https://secwatch.observer/filing/0001558370-23-007061.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051627/000155837023007061/0001558370-23-007061-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.