AXT, Inc. Announces First Quarter 2026 Financial Results

AXT, Inc. reported its financial results for the first quarter ended March 31, 2026. Revenue for the quarter was $26.9 million, an increase from $23.0 million in the fourth quarter of 2025 and $19.4 million in the first quarter of 2025. The company reported a GAAP gross margin of 29.6% for Q1 2026, a significant improvement from -6.4% in Q1 2025. Non-GAAP gross margin was 29.9% for Q1 2026. GAAP net loss attributable to AXT, Inc. was $1.6 million, or $0.03 per share, compared to a net loss of $8.8 million, or $0.20 per share, in Q1 2025. Non-GAAP net loss was $0.6 million, or $0.01 per share, compared to $8.2 million, or $0.19 per share, in Q1 2025. The company also mentioned the ongoing process for its subsidiary Tongmei's IPO on the STAR Market and a recent capital raise of $632.5 million to support capacity expansion and R&D. AXT manufactures compound semiconductor wafer substrates used in various high-tech industries.