secwatch.observer — SEC 8-K summary
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Issuer:     AXT INC (AXTI)
CIK:        0001051627
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001558370-24-014054
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AXT Q3 revenue $23.6M, down sequentially; net loss $0.07/share, YoY improvement
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- Revenue $23.6M, -15% QoQ from $27.9M, +36% YoY from $17.4M.
- GAAP net loss $2.9M ($0.07/sh) vs Q2 loss $1.5M ($0.04) and Q3 2023 loss $5.8M ($0.14).
- GAAP gross margin 24.0%, down from 27.4% QoQ but up from 10.7% YoY.
- Non-GAAP net loss $2.1M ($0.05/sh) vs Q2 loss $0.8M ($0.02) and Q3 2023 loss $4.9M ($0.12).
- STAR Market IPO of subsidiary Tongmei still pending CSRC approval; expects completion in coming months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1051627/000155837024014054/0001558370-24-014054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1051627/000155837024014054/axti-20241031x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-014054

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