---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-23-017419"
form_type: "8-K"
ticker: "AXTI"
cik: "0001051627"
company_name: "AXT INC"
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-08T23:13:36.167187+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-23-017419
- form_type: 8-K
- ticker: AXTI
- cik: 0001051627
- company_name: AXT INC
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051627/000155837023017419/0001558370-23-017419-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051627/000155837023017419/axti-20231102x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-23-017419
- JSON: https://secwatch.observer/filing/0001558370-23-017419.json
- Plain text: https://secwatch.observer/filing/0001558370-23-017419.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051627/000155837023017419/0001558370-23-017419-index.htm

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