Axt Inc (AXTI) Financial Statements
Industry: Semiconductors & Related Devices
In fiscal 2025, Axt reported revenue of $88.3M, down 11.1% from $99.4M the year before. Net income was -$21.3M (a -24.1% net margin), or -$0.49 per diluted share. Gross margin was 12.7% and operating margin was -24.9%. Operating activities generated -$12.8M of cash, leaving -$18.8M of free cash flow. At fiscal year end, Axt held $433.8M in total assets against $99.1M in total liabilities, including $120.3M of cash and equivalents.
Open the full interactive Axt financials → Quarterly statements, key ratios, valuation history and price charts.
Axt Key Stats
| Share Price | $64.63 |
|---|---|
| Market Cap | $4.10B |
| Revenue YoY Growth | -11.1% |
| 52-Week Range | $4.51 – $140.83 |
| Shares Outstanding | 61.2 million (basic, 2026 Q2) |
Axt Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $95.4M | $137.4M | $141.1M | $75.8M | $99.4M | $88.3M |
| Gross Profit | $30.3M | $47.4M | $52.1M | $13.3M | $23.8M | $11.2M |
| Operating Income | $3.9M | $12.9M | $12.6M | -$21.6M | -$14.8M | -$22.0M |
| Pre-Tax Income | $7.1M | $17.6M | $20.9M | -$19.0M | -$10.7M | -$21.5M |
| Income Tax | $2.0M | $1.1M | $2.2M | $160,000 | $1.1M | $1.7M |
| Net Income | $3.2M | $14.6M | $15.8M | -$17.9M | -$11.6M | -$21.3M |
| Diluted EPS | $0.07 | $0.34 | $0.37 | -$0.42 | -$0.27 | -$0.49 |
Axt Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $28.0M | $23.0M | $26.9M | $47.6M |
| Net Income | -$1.9M | -$3.5M | -$1.6M | $11.1M |
| Diluted EPS | -$0.04 | -$0.08 | -$0.03 | $0.17 |
Axt Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $72.6M | $36.8M | $34.9M | $37.8M | $22.8M | $120.3M |
| Current Assets | $164.5M | $160.2M | $183.5M | $170.7M | $158.3M | $246.6M |
| Total Assets | $298.9M | $332.4M | $370.1M | $358.7M | $339.3M | $433.8M |
| Current Liabilities | $39.1M | $47.8M | $75.3M | $81.6M | $74.2M | $90.5M |
| Total Long-Term Debt | — | — | — | — | $7.1M | $9.5M |
| Total Liabilities | $43.3M | $52.2M | $80.3M | $89.6M | $84.4M | $99.1M |
| Shareholders' Equity | $192.6M | $211.5M | $221.6M | $204.0M | $192.8M | $273.3M |
Axt Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $5.9M | -$3.3M | -$8.8M | $3.4M | -$12.1M | -$12.8M |
| Cash From Investing | -$16.4M | -$38.8M | -$25.2M | -$2.6M | -$4.4M | -$6.8M |
| Cash From Financing | $52.7M | $5.7M | $38.0M | $8.6M | -$536,000 | $107.1M |
| Free Cash Flow | -$14.0M | -$33.0M | -$37.2M | -$7.1M | -$17.9M | -$18.8M |
Figures from Axt's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Axt financials page for every line item.
Axt Company Profile
| Ticker | AXTI |
|---|---|
| Exchange | Nasdaq |
| Industry | Semiconductors & Related Devices |
| Headquarters | Fremont, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001051627 |
Frequently Asked Questions
What was Axt's revenue in fiscal 2025?
Axt (AXTI) reported revenue of $88.3M for fiscal 2025.
What is Axt's annual revenue history?
Axt's annual revenue by fiscal year: 2020: $95.4M; 2021: $137.4M; 2022: $141.1M; 2023: $75.8M; 2024: $99.4M; 2025: $88.3M.
What was Axt's net income in fiscal 2025?
Axt reported net income of -$21.3M for fiscal 2025.
What was Axt's earnings per share (EPS) in fiscal 2025?
Axt's diluted EPS was -$0.49 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Axt generate in fiscal 2025?
Axt generated -$18.8M of free cash flow in fiscal 2025.
What was Axt's revenue last quarter?
In its most recent reported quarter (2026 Q2), Axt reported revenue of $47.6M.
How much debt does Axt have?
Axt reported $9.5M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Axt are outstanding?
Axt reported a weighted average of 61.2 million basic shares outstanding in 2026 Q2.
What is Axt's market cap?
Based on its latest closing price, Axt (AXTI) has a market capitalization of about $4.10B.
When does Axt's fiscal year end?
Axt's fiscal year end, as registered with the SEC, is December 31.
Where is Axt headquartered?
Axt lists its business address in Fremont, California in its SEC filings.