AXT Q2 revenue $27.9M, up 50% YoY; net loss narrows to $0.04 per share

AXT INC

2024-Q2 EPS reported -$0.09 revenue$50,611,000

Revenue $27.9M, +23% sequential and +50% YoY; GAAP net loss $1.5M ($0.04/sh) vs $5.1M loss a year ago.
GAAP gross margin 27.4% vs 9.2% in Q2 2023; operating loss improved to $1.9M from $6.8M.
CEO cites AI-driven demand for indium phosphide in optical transceivers as growth catalyst.
Tongmei STAR Market IPO still pending CSRC approval; expects to close in coming months.

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