The earnings call revealed mixed results. There were positive developments in margin recovery and AI-driven demand, but these were overshadowed by declining overall revenue, continued net losses, and significant delays in export permits due to geopolitical issues.

Company Guidance

During the AXT Inc.'s Second Quarter 2025 Financial Conference Call, guidance for the upcoming quarter was provided by Gary Fischer, the CFO. The company expects third-quarter revenue to range from $19.0 million to $21.0 million, showing potential growth from the $18.0 million reported in Q2 2025. This expectation includes modest contributions from indium phosphide and gallium arsenide sales outside China, while germanium revenue is projected to decline, and raw material business is expected to remain flat. AXT is focusing on gross margin improvement, projecting margins to be in the low to mid-teens for Q3. The anticipated non-GAAP net loss is between $0.11 to $0.13 per share, with a GAAP net loss expected in the range of $0.13 to $0.15 per share, based on approximately 43.8 million shares outstanding.

Improvement in Gross Margin

Non-GAAP gross margin improved to 8.2% in Q2 2025 from negative 6.1% in Q1, showcasing significant recovery efforts.

Sequential Revenue Growth Expected

Projected revenue for Q3 2025 is expected to grow to a range of $19.0 million to $21.0 million.

AI-Related Demand Surge

Significant growth in AI-related demand for indium phosphide substrates in China, with expectations of continued growth.

Export License for Indium Phosphide

First export license for indium phosphide obtained in June, enabling $700,000 in shipments to non-China customers.

AXT (AXTI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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AXTI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 30, 2025	2025 (Q3)	-0.12 / -	-0.05	―	―	―
Jul 31, 2025	2025 (Q2)	-0.13 / -0.15	-0.02	-650.00% (-0.13)	―
May 01, 2025	2025 (Q1)	-0.14 / -0.19	-0.03	-533.33% (-0.16)	―
Feb 20, 2025	2024 (Q4)	-0.04 / -0.10	-0.07	-42.86% (-0.03)	―
Oct 31, 2024	2024 (Q3)	-0.06 / -0.05	-0.12	58.33% (+0.07)	―
Aug 01, 2024	2024 (Q2)	-0.05 / -0.02	-0.1	80.00% (+0.08)	―
May 02, 2024	2024 (Q1)	-0.08 / -0.03	-0.06	50.00% (+0.03)	―
Feb 22, 2024	2023 (Q4)	-0.13 / -0.07	0.05	-240.00% (-0.12)	―
Nov 02, 2023	2023 (Q3)	-0.11 / -0.12	0.13	-192.31% (-0.25)	―
Aug 03, 2023	2023 (Q2)	-0.10 / -0.10	0.13	-176.92% (-0.23)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AXTI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	$2.08	$1.92	-7.69%
May 01, 2025	$1.35	$1.39	+2.96%
Feb 20, 2025	$2.29	$1.58	-31.00%
Oct 31, 2024	$2.58	$2.11	-18.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.