---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-001530"
form_type: "8-K"
ticker: "AXTI"
cik: "0001051627"
company_name: "AXT INC"
filed_at: "2024-02-22T23:59:59+00:00"
generated_at: "2026-06-05T18:13:16.771342+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# AXT Q4 revenue $20.4M (+18% seq), net loss $0.09; FY revenue falls to $75.8M

## Summary
- Q4 2023 revenue $20.4M, up 18% from Q3 $17.4M, down 24% YoY from $26.8M.
- GAAP net loss $3.6M ($0.09/sh) vs Q3 loss $5.8M ($0.14) and Q4 2022 income $1.3M ($0.03).
- FY 2023 revenue $75.8M vs $141.1M; net loss $17.9M ($0.42) vs income $15.8M ($0.37) in FY 2022.
- CEO cites recovery signs: higher indium phosphide orders for AI and fiber optics; GaAs inventory largely cleared.
- Subsidiary Tongmei's STAR Market IPO still under CSRC review; hopes to complete in coming months.

## SEC filing metadata
- accession: 0001558370-24-001530
- form_type: 8-K
- ticker: AXTI
- cik: 0001051627
- company_name: AXT INC
- filed_at: 2024-02-22T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051627/000155837024001530/0001558370-24-001530-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051627/000155837024001530/axti-20240222x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-001530
- JSON: https://secwatch.observer/filing/0001558370-24-001530.json
- Plain text: https://secwatch.observer/filing/0001558370-24-001530.txt

## Key facts
- Earnings Releases
  AXT INC reported the fourth quarter ended December 31, 2023 results: revenue $20.4 million, net income ($3.6) million, EPS ($0.09) per share.
  - Period: the fourth quarter ended December 31, 2023
  - Revenue: $20.4 million
  - Net income: ($3.6) million
  - EPS: ($0.09) 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 fourth quarter of 2023 was $20.4 million, compared with $17.4 million in the third quarter of 2023 and $26.8 million for the fourth quarter of 2022. ​ ● GAAP gross margin was 22.6 percent of revenue for the fourth
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051627/000155837024001530/0001558370-24-001530-index.htm
- Earnings Releases
  AXT INC reported fiscal year ended December 31, 2023 results: revenue $75.8 million, net income ($17.9) million, EPS ($0.42) per share.
  - Period: fiscal year ended December 31, 2023
  - Revenue: $75.8 million
  - Net income: ($17.9) million
  - EPS: ($0.42) per share
  - Result: reported results
  source text: net income of $2.1 million or $0.05 per share for the fourth quarter of 2022. ​ Fiscal Year 2023 Results (January 1 to December 31, 2023) ​ ● Revenue for fiscal year 2023 was $75.8 million, compared with $141.1 million in fiscal year 2022. ​ ● GAAP gross margin for fiscal year 2023 was 17.6 percent of revenue, compared with 36.9 percent of revenue in fiscal year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051627/000155837024001530/0001558370-24-001530-index.htm

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