AXT published its annual report on Form 10-K for FY 2025, reporting total revenue of USD 88.33 million, down 11.1%. Gross profit fell 52.8% to USD 11.24 million, with gross margin at 12.7%, which management attributed to lower revenue spreading fixed costs over fewer units and manufacturing variances, particularly in the first half of the year. Selling, general and administrative expense was USD 24.17 million, while research and development expense declined 37.8% to USD 9.05 million due mainly to less material usage for 8-inch GaAs and 6-inch InP development and other product testing. Net cash used in operating activities was USD 12.78 million, and cash, restricted cash and cash equivalents ended the year at USD 128.37 million after net proceeds of USD 93.9 million from a December common stock offering. The company said InP export permits are its most significant challenge, noting it received initial permits to resume shipping indium phosphide substrates to certain customers in Europe and Japan, while timing for permits to resume U.S. shipments remains uncertain.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AXT Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001437749-26-008612), on March 17, 2026, and is solely responsible for the information contained therein.
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