AXT, Inc. — Third Quarter 2026 Earnings Summary

AXT, Inc. reported record third-quarter 2026 revenue of $73.4 million, representing a 54% increase from the prior quarter and a 162% year-over-year rise driven by strong demand for indium phosphide materials. The company achieved a GAAP gross margin of 56.0% and reported a net income of $25.7 million, or $0.39 per diluted share, for the period ended September 30, 2026. This financial performance reflects the company's success in surpassing its 2026 capacity expansion goals and enhancing productivity for high-value, large-diameter products. Additionally, AXT's total assets grew significantly to $1.22 billion by the end of the quarter, supported by a substantial increase in cash and investments.