AXT reports Q3 2023 revenue of $17.4M, net loss of $5.8M

AXT INC

2023-Q3 EPS reported -$0.34 revenue$55,366,000

Revenue $17.4M, down from $35.2M in Q3 2022 (YoY decline ~51%).
GAAP net loss $5.8M ($0.14/share) vs net income $5.8M ($0.13/share) a year ago.
GAAP gross margin 10.7% vs 42.0% a year ago; non-GAAP gross margin 11.3% vs 42.2%.
Non-GAAP net loss $4.9M ($0.12/share) vs income $6.8M ($0.16/share) a year ago.
CEO cites stable demand, early data center improvement; inventory rationalization may persist.

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 third quarter, ended September 30, 2023 results: revenue $17.4 million, net income GAAP net loss of ($5.8) million, EPS ($0.14) per share.

Period: third quarter, ended September 30, 2023
Revenue: $17.4 million
Net income: GAAP net loss of ($5.8) million
EPS: ($0.14) 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 third quarter of 2023 was $17.4 million, compared with $18.6 million for the second quarter of 2023 and $35.2 million for the third quarter of 2022. ● GAAP gross margin was 10.7 percent of revenue for the third

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Source: SEC EDGAR

accession 0001558370-23-017419

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