AXT, Inc. (AXTI) Earnings
AXT, Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $0.08. AXTI has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise +26.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.04 | $-0.01 | +75.0% | $27M | +2.7% |
| Feb 19, 2026 | $-0.04 | $-0.05 | -25.0% | $23M | -13.9% |
| Oct 30, 2025 | $-0.11 | $-0.03 | +72.7% | $28M | -2.8% |
| Jul 31, 2025 | $-0.13 | $-0.15 | -15.4% | $18M | -7.9% |
| May 1, 2025 | $-0.13 | $-0.19 | -46.2% | $19M | +2.0% |
| Feb 20, 2025 | $-0.04 | $-0.10 | -150.0% | $25M | +4.9% |
| Oct 31, 2024 | $-0.06 | $-0.05 | +16.7% | $24M | -1.2% |
| Aug 1, 2024 | $-0.05 | $-0.02 | +60.0% | $28M | +6.1% |
| May 2, 2024 | $-0.08 | $-0.03 | +62.5% | $23M | +5.2% |
| Feb 22, 2024 | $-0.13 | $-0.07 | +46.2% | $20M | +16.3% |
| Nov 2, 2023 | $-0.13 | $-0.12 | +7.7% | $17M | -3.6% |
| Aug 3, 2023 | $-0.10 | $-0.10 | +0.0% | $19M | -7.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Capacity expansion: Plan to double indium phosphide capacity this year, with a brownfield site helping reach ~$35M per quarter by end of 2026, and looking at greenfield expansion beyond. - Market trends: Expect market for optical components to grow significantly in next 3-5 years, driven by scale-out and scale-up applications. CPO co-packaged optics is a developing market. - Customer engagement: Expanding Indian Phosphide customer base to nearly all leading optical customers globally. Making progress on six-inch phosphide product for different specifications. - Geographic demand: AI infrastructure build-out in US drives demand for certain optical components, and significant growth in China as it accelerates AI supply chain capabilities.
Guidance
- Q2 expected to have sequential revenue growth, driven by indium phosphide, with indium phosphide backlog over $100M. - Expect to achieve profitability on both GAAP and non-GAAP basis in Q2. Non-GAAP net income range $0.06 - $0.08, GAAP net income range $0.05 - $0.07. - Approximately $34 million in revenue can be realized in Q2 for which permit to ship or no permit required.
Segment performance
Revenue for Q1 2026 was $26.9 million. By product category: Indian Phosphide was $13.6 million (primarily from data center applications), Gallium arsenide was $5.4 million, Germanium substrates were $200,000, and revenue from consolidated raw material joint venture companies was $7.6 million. Revenue contribution: Indian Phosphide was approximately 50.56% ($13.6M / $26.9M), Gallium arsenide was ~20.07% ($5.4M / $26.9M), Germanium substrates was ~0.07% ($200,000 / $26.9M), and raw material joint venture was ~28.25% ($7.6M / $26.9M). Geographic revenue: Asia Pacific 78%, Europe 21%, North America 1%.
Risks & headwinds
- Uncertainty in export permit timing and obtaining for US customers. - Financial performance of partially owned supply chain companies. - Increased environmental regulations in China.
Analyst Q&A
Q: Regarding long-term supply agreements with customers, are you close to resolution?
A: Yes, talking to many customers and expect resolution in near future.
Q: Update on relationships with Tier 1 customers?
A: Qualifying wafers with many Tier 1 customers and supplying to new ones.
Q: Update on pricing for Indian phosphide substrates?
A: Raising prices due to raw material cost increase and globalizing pricing.
Q: Capacity max output and expansion plans?
A: End of 2026 expected to be at ~$35M per quarter in indium phosphide, with greenfield expansion in 2028 and beyond.
Q: CAPEX requirements for capacity builds?
A: This year ~$35M in capex, next year ~$100M, greenfield beyond ~$200M.
Q: China's percentage in indium phosphide business?
A: ~30% in Q2, expected to increase to ~40% in Q4.
Q: Gross margin outlook?
A: Targeting 35% range initially, with potential for higher but need to prove first