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AXTI US​
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Axt Inc(AXTI US)

$55.06-5.829.56%Ext:$55.20+0.140.25%(Market Closed · 23:59:55 UTC)
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Axt Inc — Company Profile

AXT, Inc. is a company dedicated to the design, development, production, and worldwide distribution of both compound and single-element semiconductor substrates. Leveraging its proprietary vertical gradient freeze technology, the firm manufactures these essential components. Its diverse product range includes indium phosphide substrates, vital for applications like data center connectivity (utilizing light and lasers), 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplification and switching, infrared LEDs for motion control, LiDAR in robotics and autonomous vehicles, and infrared thermal imaging. AXT also provides semi-insulating gallium arsenide (GaAs) substrates, which are critical for Wi-Fi and IoT devices, transistors, direct broadcast television, power amplifiers, satellite communications, and solar cells. Furthermore, its semi-conducting GaAs substrates find use in LEDs, screen displays, printer head lasers and LEDs, 3D sensing via VCSELs, data center communication using VCSELs, sensors for industrial robotics and near-infrared applications, optical couplers, solar cells, night vision goggles, LiDAR for robotics and autonomous vehicles, and various other laser technologies such as machining, cutting, and drilling. Germanium substrates are another key offering, employed in multi-junction solar cells for satellites, optical sensors and detectors, terrestrial concentrated photovoltaic cells, infrared detectors, and as carrier wafers for LEDs. Beyond these substrates, AXT supplies high-purity materials including 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, along with pyrolytic boron nitride (pBN) crucibles and pBN insulating parts. The company distributes its products via a direct salesforce in the United States, China, and Europe, alongside independent sales representatives and distributors across Japan, Taiwan, Korea, and other international markets. Established in 1986 as American Xtal Technology, Inc., the company rebranded to AXT, Inc. in July 2000 and is headquartered in Fremont, California.

Sector
Information Technology
Industry
Technology Hardware, Storage & Peripherals
Exchange
UQ
CEO
Morris S. Young
Headquarters
Fremont, CA, US
IPO Date
May 21, 1998
Employees
1,541
Website
investors.axt.com

Key Metrics

Price
$85.87
Market Cap
$4.36B
Revenue (TTM)
$26.92M
Net Income (TTM)
$-1620000.00
EPS (TTM)
-0.03
P/E (TTM)
-309.48
P/B (TTM)
15.85
Dividend Yield
0.00%
ROE (TTM)
-0.59%
ROA (TTM)
-0.36%
Operating Margin
-5.89%
Beta
3.71

Dividends

Last Dividend
$0.00
Last Yield
0.00%

Summary

AXT, Inc. is a company dedicated to the design, development, production, and worldwide distribution of both compound and single-element semiconductor substrates. Leveraging its proprietary vertical gradient freeze technology, the firm manufactures these essential components. Its diverse product range includes indium phosphide substrates, vital for applications like data center connectivity (utilizing light and lasers), 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplification and switching, infrared LEDs for motion control, LiDAR in robotics and autonomous vehicles, and infrared thermal imaging. AXT also provides semi-insulating gallium arsenide (GaAs) substrates, which are critical for Wi-Fi and IoT devices, transistors, direct broadcast television, power amplifiers, satellite communications, and solar cells. Furthermore, its semi-conducting GaAs substrates find use in LEDs, screen displays, printer head lasers and LEDs, 3D sensing via VCSELs, data center communication using VCSELs, sensors for industrial robotics and near-infrared applications, optical couplers, solar cells, night vision goggles, LiDAR for robotics and autonomous vehicles, and various other laser technologies such as machining, cutting, and drilling. Germanium substrates are another key offering, employed in multi-junction solar cells for satellites, optical sensors and detectors, terrestrial concentrated photovoltaic cells, infrared detectors, and as carrier wafers for LEDs. Beyond these substrates, AXT supplies high-purity materials including 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, along with pyrolytic boron nitride (pBN) crucibles and pBN insulating parts. The company distributes its products via a direct salesforce in the United States, China, and Europe, alongside independent sales representatives and distributors across Japan, Taiwan, Korea, and other international markets. Established in 1986 as American Xtal Technology, Inc., the company rebranded to AXT, Inc. in July 2000 and is headquartered in Fremont, California.

Website
investors.axt.com
Location
Fremont, CA, US
Phone510 438 4700
Employees1,541
CEOMorris S. Young
Sector
Information Technology
Industry
Technology Hardware, Storage & Peripherals
IPO DateMay 21, 1998

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Latest Documents

SEC Filings(1K)

Expand
  • 4Statement of changes in beneficial ownership29 Oct
  • 4Statement of changes in beneficial ownership29 Oct
  • 8-KResults of Operations and Financial Condition29 Oct
  • 8-KPRESS RELEASE OF AXT, INC., DATED OCTOBER 28, 2026 (FURNISHED PURSUANT TO ITEM 7.01)28 Oct
  • SC 13G/AAXT INC5 Oct
  • 4Statement of changes in beneficial ownership19 Aug
  • 4Statement of changes in beneficial ownership19 Aug
  • 144LEBLANC LEONARD J17 Aug
  • 10-QQ2ended 30 Jun 202613 Aug
  • SC 13G/AAXT INC12 Aug
  • 144LEBLANC LEONARD J7 Aug
  • 8-KResults of Operations and Financial Condition30 Jul
  • 8-KEntry into a Material Definitive Agreement29 Jul
  • 8-KMaterial Modifications to Rights of Security Holders29 Jul
  • SC 13GAXT INC27 Jul
  • 3Initial statement of beneficial ownership27 Jul
  • 8-KDeparture of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers22 Jul
  • 8-KTriggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement8 Jul
  • 8-KEntry into a Material Definitive Agreement2 Jul
  • 3Initial statement of beneficial ownership24 Jun

News

  • AXTI Q3 Earnings Call Highlights AI Demand and Capacity Expansion30 Oct
  • AXTI Q3 Earnings Beat on Record InP Sales and Margin Gains30 Oct
  • AXT, Inc. (AXTI) Q3 2026 Earnings Call Transcript29 Oct
  • AXT (AXTI) Beats Q3 Earnings and Revenue Estimates29 Oct
  • What AXT (AXTI) Said on Its Q3 Earnings Call29 Oct
  • AXT, Inc. Announces Third Quarter 2026 Financial Results29 Oct
  • AXT, Inc. Announces Up to RMB 3.67 Billion (Approximately US$545 Million) in Private Equity Financing for Subsidiary Tongmei28 Oct
  • TTMI vs. AXTI: Which AI Infrastructure Stock Is the Better Pick?28 Oct
  • AXTI Stock Before Q3 Earnings Release: To Buy or Not to Buy?27 Oct
  • 3 Catalysts That Could Ignite AXTI Stock on Oct. 29 (And 1 Huge Risk)26 Oct
  • AXT: The AI Infrastructure Bottleneck Wall Street May Be Underestimating17 Oct
  • A Look at AXT Inc (AXTI) After 11.1% Decline -- GF Value $3.20 vs Price $51.4716 Oct
  • AXT's Inventory Rises Sharply: Will Working Capital Pressure Grow?13 Oct
  • AXT Inc (AXTI) Stock Down 9.5% but Still Overvalued -- GF Score: 59/10012 Oct
  • 11 Stocks Most Likely to See a Short Squeeze Rally12 Oct
  • AXTI Stock Rises 21% in a Month: Should You Buy, Sell or Hold?7 Oct
  • Can Surging InP Demand Strengthen AXT's Long-Term Growth Potential?5 Oct
  • AXT: Explosive Growth, Expanding Margins, And A Long InP Runway2 Oct
  • AXT, Inc. Schedules Third Quarter 2026 Earnings Release for October 29, 20261 Oct
  • 10 Stocks With Massive Short Squeeze Potential1 Oct

Mentions in Filings

  • … gloGold Ashanti before Harmony acquired the mine. 7.6.1Drilling Methods Underground diamond core drilling is conducted using hydraulically driven and pneumatic reverse circulation drill rigs, which typically delivers an <strong>AXT</strong> size core (35.51mm). These are short drill holes rarely exceeding 200m in length. Fans of drill holes are drilled from diamond drilling cubbies, which are developed at 50m intervals along footwall developments ends (X/C’ …
    HARMONY GOLD MINING CO LTDAxt Inc·EX-96.12 - 20-F - Annual report (foreign private issuer) FY 2026·FY26·30 Oct
  • … ong North, Free State Province, South Africa Figure 7-2: Location of Channel Samples Collected from the B Reef 7.5.1Drilling Methods The surface diamond core drilling has been undertaken using a thin-walled core barrel (<strong>AXT</strong> size core barrel) that delivers 35.51mm core. A single mother hole is drilled, typically with deflection holes drilled from it. The drill grid spacing of the surface drill hole intersections is up to 100m and is often req …
    HARMONY GOLD MINING CO LTDAxt Inc·EX-96.13 - 20-F - Annual report (foreign private issuer) FY 2026·FY26·30 Oct
  • … ing was used for all underground drill holes. Diamond core drilling has been undertaken using hydraulic and pneumatic drill rigs. The core sizes for reef intersections include the following: •electro hydraulic drilling - <strong>AXT</strong> (35.51mm); and •hydraulic drilling- BX (42mm) or BQ (36.5mm). Drilling can be undertaken in any orientation, depending on the position of the reef relative to the drilling location, however the drill holes are typically …
    HARMONY GOLD MINING CO LTDAxt Inc·EX-96.9 - 20-F - Annual report (foreign private issuer) FY 2026·FY26·30 Oct
  • … d and edge networking group of Intel Corporation (Nasdaq:INTC), a semiconductor manufacturing company, from August 2018 until February 2023. Previously, Dr. Hou held executive leadership positions at Fabrinet (NYSE:FN), <strong>AXT, Inc.</strong> (Nasdaq:AXTI), and EMCORE Corporation (Nasdaq:EMKR). He also held technical roles at Bell Laboratories and Sandia National Laboratories. Dr. Hou holds a Ph.D. in Electrical Engineering from the University of California a …
    WOLFSPEED, INC.Axt Inc·DEF 14A - DEFINITIVE NOTICE & PROXY STATEMENT·Q2 27·11 Sep
  • … 287,350 1,206,870 \*Autodesk, Inc. 60,714 15,352,749 \*AvePoint, Inc. 30,870 359,018 \* Aviat Networks, Inc. 1,956 42,660 Avnet, Inc. 23,217 1,448,509 \* Axcelis Technologies, Inc. 8,973 790,252 \*<strong>AXT</strong>, Inc. 3,909 72,473 Badger Meter, Inc. 8,040 1,178,503 Bel Fuse, Inc., Class A 142 26,092 Bel Fuse, Inc., Class B 3,237 651,252 Belden, Inc. 11,299 1,327,745 Benchmark Electronics, Inc. 10,395
    Dimensional ETF TrustAxt Inc·NPORT-EX - NT NPORT-P - Notification of late filing (portfolio holdings)·Q1 26·13 Aug
  • … e acquired company and its business activities      Name of acquired company: AXST East Japan Co., Ltd.      Business Description: Wholesale of wireless paging chimes.  (2) Main reasons for the business combination     <strong>Axt</strong> East Japan is a wholesaler of call chimes, including the "Bellstar" wireless call chime product.    This company operates and has over 20 years of experience as the general distributor of "Bellstar" products.      We have …
    TRaaS On Product Inc.Axt Inc·Annual Report - Annual Securities Report (2025.02.01-2026.01.31)·22 Apr·22 Apr

Key Stats

Trading

Px/Chg 1D$85.87 / +4.96%
Prev Close$61.64
% of 52Wk H48.59%
Avg Volume11.24M
Beta3.71
Mkt Cap4.36B
FD Mkt Cap3.53B

Float

Shrs Out/Float50.75M / 42.62M
Short Float0.29%
Days to Cover1.08
Stock Repurchased$0.00

Current Valuation

EV4.45B
EV/EBITDA-2,120.32
EV/Sales46.43
P/B15.85
P/S45.45
FCF Yield-0.30%
ROE-0.59%
ROA-0.36%
Current Ratio2.59

Estimates

P/E-309.48
Est P/EN/A
Est EPSN/A
Est PEGN/A

Valuation

Metric5Yr AvgMay '23May '24May '25May '26Oct '26
PRICE-BASED RATIOS
Price / Earnings-836.817.83-8.51-5.46-1,536.93-2,640.97
Price / Sales79.820.882.010.64236.67158.91
Price / Book Value7.430.560.750.3319.9515.56
Price / Free Cash Flow795.03-3.32-21.53-3.554,331.24-327.69
ENTERPRISE VALUE METRICS
Enterprise Value2,088.0209.4238.9156.15,462.54,373.0
Enterprise Value / Sales81.141.483.151.57237.08162.42
Enterprise Value / EBITDA-1,245.486.95-27.20-461.69-8,698.182,952.73
Enterprise Value / EBIT-1,291.669.52-13.65-16.75-1,853.57-4,583.86

Financials

Full Financials
Millions USD5Yr CAGR (%)Dec '21Dec '22Dec '23Dec '24Dec '25
INCOME STATEMENT
Revenue-10.5%137.4141.175.899.488.3
Gross Income-30.2%47.452.113.323.811.2
EBITDA—25.130.1-8.8-0.3-11.2
EBIT—18.022.0-17.5-9.3-20.3
Net Income—14.615.8-17.9-11.6-21.3
EPS (Diluted)—0.340.37-0.42-0.27-0.49
BALANCE SHEET
Cash & ST Inv29.9%42.244.339.922.8120.3
Total Assets6.9%332.4370.1358.7339.3433.8
Total Liabilities17.4%52.280.389.684.499.1
Total Shareholder Equity6.6%211.5221.6204.0192.8273.3
CASH FLOW
Net Operating Cash Flow40.2%-3.3-8.83.4-12.1-12.8
Cap Ex-32.9%-29.6-28.5-10.5-5.8-6.0
Free Cash Flow-13.1%-33.0-37.2-7.1-17.9-18.8

Enterprise Value Bridge

Millions USD23 Oct '26
Price (As of 23 Oct '26)52.08
Basic Shares50.75
Market Cap2,643.1
Diluted Shares53.32
Fully Diluted Shares Outstanding53.32
Fully Diluted Market Cap2,776.9
+Consolidated Debt70.8
−In-the-Money Convertible Debt—
+Capital Leases1.9
+Operating Leases—
−Cash & Equivalents-41.8
−Short-term Investments-65.4
+Total Preferred3.5
−In-the-Money Convertible Preferred—
−Investments in Unconsolidated Subs—
+Non-Controlling Interest62.1
+Pension Liabilities—
Enterprise Value2,737.8

Segment data

Revenue

by Products and services

  • Substrates67%
  • Raw Materials And Other33%

Revenue

by Geography

  • China62%
  • Taiwan15%
  • Europe13%
  • Japan6%
  • Asia Pacific Excluding China, Taiwan And Japan3%

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