AXTI News & Events

Sees Q2 revenue up sequentially. Sees Q2 operating expenses $9.3M. Says Q2 will be expected to be largest quarter for indium phosphide in company history. Says this derives from an indium phosphide backlog that has now reached a new high of over $100M. Says has $34M in revenue that can be realized in Q2 across substrate product lines and raw materials for which the company either already has a permit to ship or for which an export permit is not required. Says timing for permit issuance is not predictable, nor in the company's control, and does not align with quarterly reporting. Says seeing a strong increase in indium phosphide wafer demand related to AI and the ongoing data center upgrade cycle. Comments and guidance taken from Q1 earnings conference call.

Reports Q1 revenue $26.9M, consensus $26.22M. This is an incredibly exciting time for AXT," said Morris Young, chief executive officer. "Last week we completed a capital raise for $632.5 million in support of Tongmei's indium phosphide capacity expansion as well as R&D investment in new products like 6-inch indium phosphide. Indium phosphide substrates are a key ingredient in high-speed optical data transmission required in AI focused data centers. Thanks goes to our investors who are helping us address the strong demand we are seeing. As the market continues to grow, capacity will become a critical enabler. Longer-term capacity planning is one of the most important discussions we are having today with customers and major supply chain players in our space. The message we have for them is this: AXT is stepping up. We believe we are in the best position to support and enable our industry in meeting the current and future needs."