AXT INC — fact timeline

Jia-Bin Duh was elected as Director at AXT INC.

“the Board elected Jia-Bin Duh to the Board as a Class III Director and independent director, effective immediately.”

Tracy Liu was elected as Director at AXT INC.

“Immediately thereafter, the Board elected Tracy Liu to the Board as a Class II Director and independent director, effective immediately.”

AXT INC entered into Long-term Supply Agreement with Nanjing Casela Technologies Corporation, Ltd. valued at RMB 173,000,000 (approximately US $25.4 million) (effective 2026-06-11).

“On June 11, 2026, Beijing Tongmei Xtal Technology Co., Ltd. (“Tongmei”), the subsidiary of AXT, Inc., a Delaware corporation, entered into a Long-term Supply Agreement (the “Agreement”) with Nanjing Casela Technologies Corporation, Ltd. (“Casela”).”

AXT INC: On June 4, 2026, AXT Inc. filed a certificate of amendment to its Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 70,000,000 to 120,000,000, effective upon filing (effective 2026-06-04).

“upon receipt of approval by a majority of stockholders of record entitled to vote at the 2026 Meeting as of the record date, on June 4, 2026, the Company filed a certificate of amendment (the “Amendment”) to its Restated Certificate of Incorporation, as amended (the “Restated Certificate of Incorporation”) with the Secretary of State of the State of Delaware to increase the number of authorized shares of common stock of the Company from 70,000,000 to 120,000,000, effective upon filing.”

AXT INC shareholders approved To approve the adjournment of the annual meeting if necessary or advisable to solicit additional proxies in favor of Amendment Proposal if there are insufficient votes at the time of the annual meeting to approve the Amendment Proposal at the 2026-06-04 meeting.

“Proposal 5: To approve the adjournment of the annual meeting if necessary or advisable to solicit additional proxies in favor of Amendment Proposal if there are insufficient votes at the time of the annual meeting to approve the Amendment Proposal (the “Adjournment Proposal”): For Against Abstain 26,383,217 2,475,288 48,718 The Adjournment Proposal was approved.”

AXT INC shareholders approved Approval of an amendment to the Company’s Restated Certificate of Incorporation, as amended, to increase the authorized shares of common stock from 70,000,000 to 120,000,000 at the 2026-06-04 meeting.

“Proposal 4: Approval of an amendment to the Company’s Restated Certificate of Incorporation, as amended, to increase the authorized shares of common stock from 70,000,000 to 120,000,000 (the “Amendment Proposal”): For Against Abstain 26,991,579 1,870,385 45,259 The Amendment Proposal was approved.”

AXT INC shareholders approved Ratification of the appointment of BPM as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026 at the 2026-06-04 meeting.

“Proposal 3: Ratification of the appointment of BPM as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026: For Against Abstain 28,619,471 247,944 39,808 The appointment of BPM as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2026, was ratified.”

AXT INC shareholders approved Advisory vote on executive compensation at the 2026-06-04 meeting.

“Proposal 2: Advisory vote on executive compensation: For Against Abstain Broker Non-Votes 18,256,842 410,844 76,757 10,162,780 The compensation of the Company’s named executive officers, as disclosed in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on March 31, 2026, was approved on an advisory basis.”

AXT INC shareholders approved Election of two (2) Class I directors to hold office for a three-year term and until their successors are elected and qualified at the 2026-06-04 meeting.

“Proposal 1: Election of two (2) Class I directors to hold office for a three-year term and until their successors are elected and qualified: Name of Director For % Withheld % Broker Non-Votes Dr. Morris Young 18,418,094 98.26% 326,349 1.74% 10,162,780 Dr. David Chang 15,937,028 85.02% 2,807,414 14.98% 10,162,780 Dr. Morris Young and Dr. David Chang were duly elected as Class I directors.”

AXT INC reported first quarter ended March 31, 2026 results: revenue $26.9 million, net income $1.6 million net loss, EPS $0.03 per share loss.

“Revenue for the first quarter of 2026 was $26.9 million, compared with $23.0 million for the fourth quarter of 2025 and $19.4 million for the first quarter of 2025.”

AXT INC entered into Underwriting Agreement with Northland Securities, Inc., as representative of the underwriters named therein valued at approximately $550 million (effective 2026-04-21).

“On April 21, 2026, AXT, Inc., a Delaware corporation (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Northland Securities, Inc., as representative of the underwriters named therein (the “Underwriters”) related to the offer and sale of shares of the Company’s common stock (the “Offering”).”

AXT INC reported three months ended March 31, 2026 results: revenue between $28 million and $26 million, net income between $1.6 million and $2.6 million, EPS between $0.03 and $0.05.

“disclosed that its anticipated revenues for the three months ended March 31, 2026, will range between $28 million and $26 million and its anticipated net loss attributed to the Company for the three months ended March 31, 2026, will range between $1.6 million and $2.6 million, or net loss per share (basic and diluted) of between $0.03 and $0.05.”

AXT INC entered into Underwriting Agreement with Northland Securities, Inc., as representative of the underwriters valued at approximately $87 million (effective 2025-12-29).

“On December 29, 2025, AXT, Inc., a Delaware corporation (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Northland Securities, Inc., as representative of the underwriters named therein (the “Underwriters”) related to the offer and sale of shares of the Company’s common stock (the “Offering”).”

AXT INC received a nasdaq deficiency notice notice regarding audit committee (rules 5605(c)(2)(A), 5605(c)(4)).

“July 18, 2025. Other than the correction of the date, no other changes have been made to the Initial Report. Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing . (a) As previously, on July 14, 2025, AXT, Inc. (the “Company”) notified The Nasdaq Stock Market (“Nasdaq”) that as a result of the recent passing of Ms. Christine Russell, the Company is not compliant with Nasdaq Lising Rule 5605(c)(2)(A) as the Company’s Audit Committee currently consists of only two independent directors, rather than the minimum three independent directors a”

AXT INC received a nasdaq deficiency notice notice regarding audit committee (rules 5605(c)(2)(A), 5605(c)(4)).

“January 18, 2025, Nasdaq notified the Company that due to the passing of Ms. Russell, the Company no longer complies with the audit committee requirement under Nasdaq Lising Rule 5605(c)(2)(A). Nasdaq further notified the Company that, consistent with Nasdaq Listing Rule 5605(c)(4), Nasdaq will provide the Company a cure period in order to regain compliance (i) until the earlier of the Company’s next annual meeting of shareholders or July 11, 2026; or, (ii) if the next annual meeting of shareholders is held before January 7, 2026, then the Company must provide evidence of compliance no later t”

AXT INC received a nasdaq noncompliance notice notice regarding audit committee (rules 5605(c)(2)(A), 5605(c)(4)(B)).

“July 14, 2025, the Company notified The Nasdaq Stock Market LLC (“Nasdaq”) that due to Ms. Russell's death, the Company’s Audit Committee has been reduced to two independent directors, and the Company is not compliant with Nasdaq Lising Rule 5605(c)(2)(A), which requires the Audit Committee to be comprised of a minimum of three independent directors. Pursuant to Nasdaq Listing Rule 5605(c)(4)(B), the Company has a cure period to regain compliance until the earlier of the Company’s next annual meeting of stockholders or July 11, 2026. The Company intends to regain compliance as soon as possible”

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.

“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.”

AXT INC reported first quarter ended March 31, 2024 results: revenue $22.4 to $22.7 million.

“AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that it expects to report revenue in the range of $22.4 to $22.7 million for the first quarter ended March 31, 2024, exceeding the company’s prior guidance for the first quarter of 2024 of $20 million to $22 million.”

AXT INC reported fiscal year ended December 31, 2023 results: revenue $75.8 million, net income ($17.9) million, EPS ($0.42) per share.

“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”

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.

“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”

AXT INC reported third quarter, ended September 30, 2023 results: revenue $17.4 million, net income GAAP net loss of ($5.8) million, EPS ($0.14) per share.

“expense. Investors can find GAAP to non-GAAP reconciliation tables in the financial statements in this earnings release. ​ ● Revenue for the third quarter of 2023 was $17.4 million, compared with $18.6 million for the second quarter of 2023 and $35.2 million for the third quarter of 2022. ​ ● GAAP gross margin was 10.7 percent of revenue for the third”

AXT INC reported second quarter ended June 30, 2023 results: revenue $18.6 million, net income ($5.1) million, or ($0.12) per share, EPS ($0.12) per share.

“Revenue for the second quarter of 2023 was $18.6 million, compared with $19.4 million for the first quarter of 2023 and $39.5 million for the second quarter of 2022.”

AXT INC reported Q1 2023 results: revenue $4.3 million.

“In the first quarter of 2023, gallium arsenide and germanium substrates exported outside of China contributed approximately $4.3 million in revenue, primarily for consumer, automotive, display, and industrial applications.”

AXT INC shareholders approved Ratification of the appointment of BPM LLP as the Company's independent registered public accounting firm at the 2023-05-18 meeting.

“Proposal 4: Ratification of the appointment of BPM LLP (“BPM”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2023:”

AXT INC shareholders approved Advisory vote on the frequency of holding an advisory vote on executive compensation at the 2023-05-18 meeting.

“Proposal 3: Advisory vote on the frequency of holding an advisory vote on executive compensation:”

AXT INC shareholders approved Advisory vote on executive compensation at the 2023-05-18 meeting.

“Proposal 2: Advisory vote on executive compensation:”

AXT INC shareholders approved Election of two Class I directors at the 2023-05-18 meeting.

“Proposal 1: Election of two (2) Class I directors to hold office for a three-year term and until their respective successors are elected and qualified:”

AXT INC reported the first quarter ended March 31, 2023 results: revenue $19.4 million, net income a loss of ($3.3) million, or ($0.08) per share, EPS ($0.08) per share.

“expense. Investors can find GAAP to non-GAAP reconciliation tables in the financial statements in this earnings release. ​ ● Revenue for the first quarter of 2023 was $19.4 million, compared with $26.8 million for the fourth quarter of 2022 and $39.7 million for the first quarter of 2022. ​ ● GAAP gross margin was 26.3 percent of revenue for the first”

AXT INC reported financial results for the fourth quarter and fiscal year ended December 31, 2022.

“On February 16, 2023, AXT, Inc. issued a press release announcing its financial results for the quarter and fiscal year ended December 31, 2022.”

AXT INC reported quarter ended September 30, 2022 results: revenue $35.2 million, net income $5.8 million, EPS $0.13 per share.

“● Revenue for the third quarter of 2022 was $35.2 million, compared with $39.5 million for the second quarter of 2022 and $34.6 million for the third quarter of 2021. ​ ● GAAP gross margin was 42.0 percent of revenue for the third quarter of 2022, compared with 39.1 percent of revenue for the second quarter of 2022 and 33.3 percent for the third quarter of 2021. ​ ● Non-GAAP gross margin was 42.2 percent of revenue for the third quarter of 2022, compared with 39.4 percent of revenue for the second quarter of 2022 and 33.8 percent for the third quarter of 2021. ​ ​ ​ ​ AXT, Inc. Third Quarter 2022 Results ​ October 27, 2022 ​ Page 2 of 7 ​ ● GAAP operating expenses were $10.2 million for the third quarter of 2022, compared with $10.1 million for the second quarter of 2022 and $9.1 million for the third quarter of 2021. ​ ● Non-GAAP operating expenses were $9.2 million for the third quarter of 2022, compared with $9.1 million for the second quarter of 2022 and $7.7 million for the third”

Leonard J. LeBlanc resigned as Director at AXT INC.

“On December 29, 2021, Leonard J. LeBlanc, a member of the Board of Directors (the “Board”) of AXT, Inc (the “Company”) since April 2003 and a Class III director, notified the Board of his decision to resign from the Board and all committees thereof, effective as of December 29, 2021.”