AXT Inc. reports Q4 adjusted EPS (10c), consensus (4c)

Reports Q4 revenue $25.1M, consensus $23.93M. “Our growth in 2024 showed a year of improvement for AXT in several key areas,” said Morris Young, chief executive officer. “We delivered a 31 percent increase in revenue, a 21 percent improvement in non-GAAP gross profit, and a 40 percent improvement in non-GAAP net loss. Over the last twelve months we have aggressively advanced the technical specifications of our materials to help our global customer base solve complex, next-generation connectivity challenges. As such, 2024 marked a meaningful year of our revenue growth into the cloud and data center infrastructure market, as well as our successful penetration of the cell phone market, which is close to a $100M addressable market, and before now, largely untapped by AXT. Through our product success, world-class manufacturing, and unique supply chain, we have built a valuable company poised to address the rapidly growing market opportunities ahead of us.”