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AXT

AXTI

AXT is a global materials science company that develops and manufactures high-performance compound and single-element semiconductor substrates, commonly known as wafers.

Market cap
$3.13B+3,140%
Revenue$95.9M-0.1%
Net income-$14.7M+20.0%
Free cash flow-$29.2M-2.3%
Trailing twelve months · change vs. prior year

Earnings

Next report

Jul 30, 2026 (Tomorrow)
Revenue estimate$34.1M
EPS estimate$0.07

Financials

Q1 2026

Income statement

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Revenue$26.9M+39.1%
Net income-$1.5M+83.1%

Balance sheet

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Cash & equivalents$41.8M+32.2%
Total debt$65.7M+23.6%
Total equity$274.9M+48.6%
Total assets$444.6M+33.3%

Cash flow

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Operating cash flow-$11.7M-249%
CapEx$1.4M+169%
Free cash flow-$13.1M-239%

Valuation & ratios

Valuation

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Market cap$3.13B+3,140%
Enterprise value$3.16B+2,189%
P/S32.7×+31.4×

Profitability

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Net margin-15.3%-2.5pp
FCF margin-30.5%

Returns & leverage

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Return on equity-6.4%-1.6pp
Debt / equity0.2×0.0×
Current ratio2.6×+0.6×

Segments

By product

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Substrates$19.3M+74.0%

Competitors

Profile

AXT is a global materials science company that develops and manufactures high-performance compound and single-element semiconductor substrates, commonly known as wafers. The company specializes in specialty materials like Indium Phosphide, Gallium Arsenide, and Germanium, which are essential for applications where traditional silicon cannot meet performance requirements. AXT operates a vertically integrated model, producing both the finished substrates and the critical raw materials used in their manufacture.

Competitive position

AXT is a leading supplier of VGF-grown substrates and is uniquely positioned through its vertically integrated raw material supply chain in China.

GeographiesChina, United States, Europe, Asia
Customer segmentsSemiconductor Manufacturers, Telecommunications Infrastructure, Data Center Operators, Aerospace and Defense, Consumer Electronics
Business modelManufacturing, Vertical Integration, B2B
SuppliersRaw gallium suppliers, Quartz tubing suppliers, Phosphorus suppliers, Polishing solution providers, Energy for high-temperature furnaces
CustomersEpitaxial growth specialists, Optical device manufacturers, RF component makers, Solar cell manufacturers, Data center hardware providers
Listed1998
Employees999.0
CEOMorris S. Young
Websiteaxt.com
FilingsSEC EDGAR

Questions, answered.

What is AXT's market cap?
AXT (AXTI) has a market capitalization of $3.1B and trades on NASDAQ.
What is AXT's revenue and profitability?
AXT generated $95.9M in trailing twelve-month revenue with a net loss of $14.7M, representing a net margin of -15.3%. Gross margin stands at 17.2%, with free cash flow of -$29.2M. These figures are based on the Q1 2026 filing.
Who are AXT's competitors?
AXT's key competitors include Veeco Instruments Inc, Entegris Inc, Applied Materials Inc, and others. These companies compete in similar markets and product categories.
Who does AXT partner with?
AXT's notable partners include Hitachi Metals.
What subsidiaries does AXT have?
AXT's subsidiaries include Beijing Tongmei Xtal Technology Co., Ltd., Nanjing JinMei Gallium Co., Ltd., Beijing BoYu Semiconductor Vessel Craftwork Technology Co., Ltd., and others.
Where is AXT headquartered?
AXT is headquartered in United States of America and employs approximately 999 people. It has been publicly traded since 1998.