AXT Q1 revenue $22.7M, up 11% QoQ; IP substrates up 48%; net loss narrows

AXT INC

2024-Q1 EPS reported -$0.05 revenue$22,688,000

Revenue $22.7M, up 11% sequentially and 17% YoY; GAAP net loss ($2.1M) / ($0.05) vs ($3.6M)/$0.09 in Q4.
Indium phosphide substrate revenue surged 48% QoQ, driven by AI optical interconnects and data-center transceivers.
Non-GAAP gross margin 27.3% vs 23.2% in Q4; non-GAAP net loss narrowed to ($1.3M) / ($0.03) from ($2.8M).
Tongmei STAR Market IPO still pending CSRC approval; expects completion in coming months.

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 0.9

AXT INC reported first quarter, ended March 31, 2024 results: revenue $22.7 million, net income GAAP net loss ... ($2.1) million, EPS ($0.05) per share.

Period: first quarter, ended March 31, 2024
Revenue: $22.7 million
Net income: GAAP net loss ... ($2.1) million
EPS: ($0.05) per share
Result: reported results

Exact text from the filing

Revenue for the first quarter of 2024 was $22.7 million, compared with $20.4 million for the fourth quarter of 2023 and $19.4 million for the first quarter of 2023.

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Source: SEC EDGAR

accession 0001558370-24-006544

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