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AXT, Inc. — Third Quarter 2026 Earnings Summary

  • Q3 2026 revenue reached a record $73.4 million, a 54% sequential increase from Q2 2026 and a 162% year-over-year rise from Q3 2025, driven by strong demand for indium phosphide materials.
  • Profitability surged with GAAP net income of $25.7 million ($0.39 diluted EPS) and a 56.0% gross margin, compared to a $11.1 million net income and 44.9% margin in Q2 2026, and a net loss in Q3 2025.
  • The company surpassed its 2026 goal to double indium phosphide capacity, with productivity gains and large-diameter product expansion quadrupling the 2026 revenue opportunity.
  • Cash and cash equivalents grew to $485.5 million as of September 30, 2026, from $120.3 million at year-end 2025, while total assets increased to $1.22 billion.
  • Management remains focused on execution and transformational growth, though forward-looking statements note risks regarding export permits, geopolitical tensions, and regulatory challenges in China.
Company
AXT INC
Sector
Technology
Industry
Semiconductor Equipment & Materials