AXT, Inc. (AXTI)

NASDAQ: AXTI · Real-Time Price · USD

41.84

-1.70 (-3.90%)

At close: Nov 13, 2026, 4:00 PM EST

40.73

-1.11 (-2.65%)

After-hours: Nov 13, 2026, 7:59 PM EST

AXT, Inc. Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	170.96	88.33	99.36	75.8	141.12	137.39
Revenue Growth	89.14%	-11.11%	31.09%	-46.29%	2.71%	44.08%
Gross Profit	75.27	11.24	23.84	13.32	52.12	47.41
Operating Income	33.43	-21.98	-14.8	-21.57	12.55	12.9
Net Income	31.51	-21.44	-11.8	-18.06	15.63	14.4
Earnings Per Share	0.55	-0.49	-0.27	-0.42	0.37	0.34
EPS Growth	-	-	-	-	8.82%	385.71%

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Substrates	93.37	58.9	67.75	47.47	111.09	103.03
Raw Materials and Other	32.14	29.43	31.61	28.33	30.02	34.37
Revenue (Total)	125.51	88.33	99.36	75.8	141.12	137.39

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	512.74	120.27	22.83	39.89	44.29	42.18
Total Debt	116.61	70.02	49.78	55.73	48.89	16.54
Net Cash (Debt)	396.13	50.25	-26.94	-15.84	-4.6	25.64
Net Cash Growth	-	-	-	-	-	-56.98%
Net Cash Per Share	6.89	1.14	-0.62	-0.37	-0.11	0.60

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	-	-12.78	-12.11	3.4	-8.77	-3.31
Capital Expenditures	-	-6	-5.77	-10.48	-28.47	-29.65
Free Cash Flow	-	-18.78	-17.88	-7.07	-37.23	-32.95
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	44.02%	12.73%	23.99%	17.57%	36.93%	34.51%
Operating Margin	19.55%	-24.88%	-14.90%	-28.46%	8.90%	9.39%
Pretax Margin	26.36%	-24.39%	-10.73%	-25.11%	14.83%	12.81%
Profit Margin	18.43%	-24.27%	-11.88%	-23.82%	11.08%	10.48%
FCF Margin	-	-21.26%	-18.00%	-9.33%	-26.38%	-23.98%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 14, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	76.13	-	-	-	11.99	25.60
Forward PE	18.29	53.09	53.09	17.77	16.85	22.03
PS Ratio	15.75	9.89	0.95	1.35	1.33	2.68