---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-006544"
form_type: "8-K"
ticker: "AXTI"
cik: "0001051627"
company_name: "AXT INC"
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-02T23:48:41.461535+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001558370-24-006544
- form_type: 8-K
- ticker: AXTI
- cik: 0001051627
- company_name: AXT INC
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051627/000155837024006544/0001558370-24-006544-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051627/000155837024006544/axti-20240502x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-006544
- JSON: https://secwatch.observer/filing/0001558370-24-006544.json
- Plain text: https://secwatch.observer/filing/0001558370-24-006544.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051627/000155837024006544/0001558370-24-006544-index.htm

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