AXT Q2 revenue $18.6M, net loss $5.1M; gross margin slumps to 9.2%

AXT INC

2023-Q2 EPS reported -$0.20 revenue$38,000,000

Revenue $18.6M, down 53% YoY from $39.5M; GAAP net loss $5.1M ($0.12 EPS) vs. net income $5.5M YoY.
Non-GAAP net loss $4.2M ($0.10 EPS) vs. net income $6.7M ($0.16 EPS) in Q2 2022.
GAAP gross margin 9.2% vs. 39.1% YoY; operating loss $6.8M vs. profit $5.3M a year ago.
Subsidiary Tongmei's STAR Market IPO still under CSRC review; process ongoing.

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 1.0

AXT INC reported second quarter ended June 30, 2023 results: revenue $18.6 million, net income ($5.1) million, or ($0.12) per share, EPS ($0.12) per share.

Period: second quarter ended June 30, 2023
Revenue: $18.6 million
Net income: ($5.1) million, or ($0.12) per share
EPS: ($0.12) per share
Result: reported results

Exact text from the filing

Revenue for the second quarter of 2023 was $18.6 million, compared with $19.4 million for the first quarter of 2023 and $39.5 million for the second quarter of 2022.

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Source: SEC EDGAR

accession 0001558370-23-013229

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