AXT addresses China's new export controls on gallium and germanium; to seek permits

AXT INC

China's new export regulations on gallium/germanium take effect Aug 1, 2023; AXT's China subsidiary will seek permits.
Indium phosphide substrates not covered; exports continue without new approvals.
Q1 2023 revenue from gallium arsenide/germanium substrates outside China was ~$4.3M for consumer, auto, display, industrial.
Company to report Q2 2023 earnings on Aug 3, 2023 after market close.

item 2.02 item 7.01 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 Q1 2023 results: revenue $4.3 million.

Period: Q1 2023
Revenue: $4.3 million
Result: preliminary results

Exact text from the filing

In the first quarter of 2023, gallium arsenide and germanium substrates exported outside of China contributed approximately $4.3 million in revenue, primarily for consumer, automotive, display, and industrial applications.

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Source: SEC EDGAR

accession 0001558370-23-011686

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