secwatch.observer — SEC 8-K summary
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Issuer:     AXT INC (AXTI)
CIK:        0001051627
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001558370-23-017419
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1051627/000155837023017419/0001558370-23-017419-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1051627/000155837023017419/axti-20231102x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-017419

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer