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General information

Country: UNITED STATES

Sector: Semiconductor Equipment and Materials

AXT, Inc. researches, develops, and produces compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide (InP) for use in fiber optic lasers and detectors, passive optical networks, data center connectivity, silicon photonics, photonic integrated circuits, terrestrial solar cells, radio frequency amplifier and switching, infrared light-emitting diode (LEDs) motion control, and infrared thermal imaging, as well as for 5G. It also provides semi-insulating gallium arsenide (GaAs) substrates for applications in power amplifiers, direct broadcast television, transistors, satellite communications, and solar cells; and semi-conducting GaAs substrates that are used in 3-D sensing, data center communication, high brightness LEDs, lasers, near-infrared sensors, printer head lasers and LEDs, optical couplers, solar cells, and night vision goggles, as well as laser machining, cutting, and drilling. In addition, the company offers germanium (Ge) substrates for use in satellite solar cells, optical sensors and detectors, terrestrial concentrated photo voltaic cells, multi-junction solar cells for satellites, and infrared detectors. Further, it provides materials, including 4N raw gallium, 6N+ purified gallium, Boron trioxide, Gallium-Magnesium alloy, pyrolytic boron n...
Website: axt.com



Growth: Bad revenue growth rate -25.9%, there is slowdown compared to average historical growth rates 1.4%. The revenue growth dynamics is unstable

Profitability: LTM EBITDA margin is negative, -17.3%. On average the margin is decreasing unsteadily. Gross margin is normal, +22.7%. In the last quarter the company beat the estimated EPS. The company was ahead of estimated EPS in 100% of quarters (showing a gain of +$0.03 per share on average)

Cash Flow Generation: Dividend yield for the last twelve months 0.0%. Free cash flow yield -1.6% (LTM)

Undervaluation: Fundamental value created in LTM (estimate)


Entry Point: Share price is 52.3% higher than minimum and 76.1% lower than maximum for the last 3 years

AI Insight: the companies with similar growth trajectories, EBITDA margin, industries and geography on average are valued 0.3x by EV / Sales multiple , the company can be 85.2% overvalued

Key Financials (Download financials)

Ticker: AXTI
Share price, USD:  (+1.0%)2.94
year average price 2.91  


year start price 3.10 2023-04-21

min close price 1.93 2023-11-01

max close price 5.40 2024-03-21

current price 2.94 2024-04-19
Common stocks: 42 851 000

Dividend Yield:  0.0%
Last revenue growth (y/y):  -25.9%
Last growth of EBITDA (y/y):  ---
Historical revenue growth:  1.4%
Historical growth of EBITDA:  ---
EV / Sales: 2.1x
Margin (EBITDA LTM / Revenue): -17.3%
Fundamental value created in LTM:
Market Cap ($m): 126
Net Debt ($m): 31
EV (Enterprise Value): 157
Price to Book: 0.6x

Revenue and EBITDA

Quarterly values ($m)

Change (y/y)

Cash Flow

FCF ($m)

Net Debt / Cash and Equivalents ($m)

Share price and dividends (Download history)

Share price

Payment USD per share

Multiple and potential

EV / Sales

Potential dynamics

News


2024-04-18Zacks Investment Research

AXT (AXTI) Advances While Market Declines: Some Information for Investors

2024-04-11Zacks Investment Research

AXT (AXTI) Rises But Trails Market: What Investors Should Know

2024-04-08GlobeNewsWire

AXT, Inc. Announces Preliminary First Quarter 2024 Revenue Results and Schedules Earnings Release for May 2, 2024

2024-04-04Zacks Investment Research

Has AXT (AXTI) Outpaced Other Computer and Technology Stocks This Year?

2024-03-11InvestorPlace

The 3 Most Undervalued AI Penny Stocks to Buy in March 2024

2024-03-07InvestorPlace

7 Penny Stocks That Can Turn Your $5 Into $500 Overnight

2024-02-29Zacks Investment Research

AXT (AXTI)'s Technical Outlook is Bright After Key Golden Cross

2024-02-22Zacks Investment Research

AXT (AXTI) Reports Q4 Loss, Tops Revenue Estimates

2024-01-23GlobeNewsWire

AXT, Inc. Schedules Fourth Quarter 2023 Earnings Release for Feb. 22, 2024

2023-11-02Seeking Alpha

AXT, Inc. (AXTI) Q3 2023 Earnings Call Transcript
More information for subscribed users:
detailed calculation of
Fundamental value created in LTM

Financial reporting

Income Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol AXTI AXTI AXTI AXTI AXTI AXTI
reportedCurrency USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-15 2023-11-09 2023-08-09 2023-05-10 2023-03-16 2022-11-10
acceptedDate 2024-03-15 16:12:04 2023-11-09 16:10:55 2023-08-09 16:15:58 2023-05-10 16:15:54 2023-03-16 16:46:53 2022-11-10 16:19:27
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
revenue 20M 17M 19M 19M 27M 35M
costOfRevenue 16M 16M 17M 14M 18M 20M
grossProfit 5M 2M 2M 5M 9M 15M
grossProfitRatio 0.226 0.107 0.092 0.263 0.321 0.420
researchAndDevelopmentExpenses 3M 3M 3M 4M 4M 4M
generalAndAdministrativeExpenses 0 0 0 0 0 0
sellingAndMarketingExpenses 0 0 0 0 0 0
sellingGeneralAndAdministrativeExpenses 5M 6M 6M 6M 6M 7M
otherExpenses -2M 223 000 777 000 282 000 2M 0
operatingExpenses 8M 9M 9M 10M 10M 10M
costAndExpenses 24M 24M 25M 24M 28M 31M
interestIncome 0 381 000 365 000 0 0 0
interestExpense 384 000 381 000 365 000 397 000 401 000 299 000
depreciationAndAmortization 138 000 592 000 2M 1M 2M 3M
ebitda -3M -6M -5M -3M 2M 9M
ebitdaratio -0.168 -0.353 -0.276 -0.161 0.071 0.245
operatingIncome -4M -7M -7M -4M -176 000 5M
operatingIncomeRatio -0.174 -0.387 -0.368 -0.229 -0.007 0.156
totalOtherIncomeExpensesNet 53 000 592 000 2M 919 000 2M 2M
incomeBeforeTax -4M -7M -5M -4M 1M 7M
incomeBeforeTaxRatio -0.172 -0.375 -0.295 -0.181 0.056 0.206
incomeTaxExpense 252 000 -101 000 -139 000 148 000 -3000.000 501 000
netIncome -4M -6M -5M -4M 1M 6M
netIncomeRatio -0.177 -0.335 -0.274 -0.189 0.050 0.164
eps -0.085 -0.140 -0.120 -0.086 0.030 0.140
epsdiluted -0.085 -0.140 -0.120 -0.086 0.030 0.130
weightedAverageShsOut 43M 43M 43M 42M 42M 42M
weightedAverageShsOutDil 43M 43M 43M 42M 43M 43M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Balance Sheet Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol AXTI AXTI AXTI AXTI AXTI AXTI
reportedCurrency USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-15 2023-11-09 2023-08-09 2023-05-10 2023-03-16 2022-11-10
acceptedDate 2024-03-15 16:12:04 2023-11-09 16:10:55 2023-08-09 16:15:58 2023-05-10 16:15:54 2023-03-16 16:46:53 2022-11-10 16:19:27
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
cashAndCashEquivalents 50M 29M 30M 35M 35M 33M
shortTermInvestments 2M 4M 7M 7M 9M 7M
cashAndShortTermInvestments 52M 33M 37M 42M 44M 40M
netReceivables 19M 19M 20M 21M 29M 38M
inventory 87M 86M 87M 92M 90M 88M
otherCurrentAssets 13M 11M 11M 12M 14M 15M
totalCurrentAssets 171M 160M 165M 177M 184M 181M
propertyPlantEquipmentNet 169M 162M 160M 164M 163M 155M
goodwill 0 0 0 0 0 0
intangibleAssets 2M 0 0 0 2M 0
goodwillAndIntangibleAssets 2M 0 0 0 2M 0
longTermInvestments 12M 13M 2M 2M 2M 4M
taxAssets 2M 0 0 0 2M 0
otherNonCurrentAssets 3M 7M 19M 24M 17M 22M
totalNonCurrentAssets 188M 182M 181M 190M 187M 180M
otherAssets 0 0 0 0 0 0
totalAssets 359M 342M 346M 367M 370M 362M
accountPayables 10M 6M 5M 7M 10M 13M
shortTermDebt 53M 46M 46M 53M 47M 43M
taxPayables 493 000 25 000 1M 1M 2M 2M
deferredRevenue 305 000 563 000 183 000 1M 338 000 435 000
otherCurrentLiabilities 18M 15M 17M 12M 18M 16M
totalCurrentLiabilities 82M 68M 67M 73M 75M 73M
longTermDebt 2M 2M 1M 1M 1M 1M
deferredRevenueNonCurrent 0 0 0 0 0 0
deferredTaxLiabilitiesNonCurrent 0 0 0 0 0 0
otherNonCurrentLiabilities 6M 4M 3M 4M 4M -54M
totalNonCurrentLiabilities 8M 6M 5M 5M 5M 4M
otherLiabilities 0 0 0 0 0 0
capitalLeaseObligations 2M 2M 1M 1M 1M 2M
totalLiabilities 90M 74M 72M 78M 80M 76M
preferredStock 4M 4M 4M 4M 4M 4M
commonStock 44 000 44 000 44 000 44 000 44 000 43 000
retainedEarnings -32M -28M -23M -18M -14M -16M
accumulatedOtherComprehensiveIncomeLoss -6M -9M -8M -2M -3M -5M
othertotalStockholdersEquity 238M 238M 237M 236M 235M 235M
totalStockholdersEquity 204M 204M 210M 220M 222M 217M
totalEquity 269M 268M 274M 288M 222M 217M
totalLiabilitiesAndStockholdersEquity 359M 342M 346M 367M 370M 294M
minorityInterest 65M 64M 65M 68M 68M 0
totalLiabilitiesAndTotalEquity 359M 342M 346M 367M 370M 294M
totalInvestments 15M 4M 9M 9M 11M 11M
totalDebt 56M 48M 47M 54M 48M 45M
netDebt 6M 20M 17M 19M 13M 12M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Cash Flow Statement

Property 2023 q4 2023 q3 2023 q2 2023 q1 2022 q4 2022 q3
date 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30
symbol AXTI AXTI AXTI AXTI AXTI AXTI
reportedCurrency USD USD USD USD USD USD
cik 1M 1M 1M 1M 1M 1M
fillingDate 2024-03-15 2023-11-09 2023-08-09 2023-05-10 2023-03-16 2022-11-10
acceptedDate 2024-03-15 16:12:04 2023-11-09 16:10:55 2023-08-09 16:15:58 2023-05-10 16:15:54 2023-03-16 16:46:53 2022-11-10 16:19:27
calendarYear 2023.000 2023.000 2023.000 2023.000 2022.000 2022.000
period Q4 Q3 Q2 Q1 Q4 Q3
netIncome -4M -6M -5M -4M 1M 7M
depreciationAndAmortization 2M 2M 2M 2M 2M 2M
deferredIncomeTax 431 000 12 000 120 000 -10000.000 -61 000 104 000
stockBasedCompensation 822 000 891 000 912 000 915 000 745 000 1M
changeInWorkingCapital 252 000 3M 4M 131 000 -3M -24M
accountsReceivables -288 000 853 000 759 000 8M 10M -468 000
inventory 2M 210 000 243 000 -1M 1M -17M
accountsPayables 3M 2M -2M -3M -4M -10M
otherWorkingCapital -5M 10000.000 5M -3M -10M 4M
otherNonCashItems 1M -943 000 3M -1M -767 000 -581 000
netCashProvidedByOperatingActivities 1M -792 000 4M -2M 536 000 -15M
investmentsInPropertyPlantAndEquipment 703 000 -4M -3M -4M -21M -8M
acquisitionsNet 0 199 000 306 000 0 0 0
purchasesOfInvestments -620 000 -2M -1M 0 2000.000 0
salesMaturitiesOfInvestments 2M 5M 827 000 3M 2M 3M
otherInvestingActivites 0 0 827 000 0 18M -2M
netCashUsedForInvestingActivites 2M -2M -2M -713 000 302 000 -7M
debtRepayment -6M -374 000 -15M -13M -8M -7M
commonStockIssued 0 0 2000.000 8000.000 518 000 0
commonStockRepurchased 0 0 0 0 0 0
dividendsPaid 0 0 0 0 0 0
otherFinancingActivites 13M 748 000 11M 19M 10M 20M
netCashUsedProvidedByFinancingActivities 6M 374 000 -4M 6M 3M 13M
effectOfForexChangesOnCash 772 000 417 000 -2M 19 000 936 000 629 000
netChangeInCash 11M -2M -4M 4M 5M -8M
cashAtEndOfPeriod 50M 39M 41M 45M 41M 37M
cashAtBeginningOfPeriod 39M 41M 45M 41M 37M 45M
operatingCashFlow 1M -792 000 4M -2M 536 000 -15M
capitalExpenditure 703 000 -4M -3M -4M -21M -8M
freeCashFlow 2M -5M 1M -5M -20M -23M
link Link Link Link Link Link Link
finalLink Link Link Link Link Link Link

Earning call transcript

2023 q4
2024-02-22 ET (fiscal 2023 q4)
2023 q3
2023-11-02 ET (fiscal 2023 q3)
2023 q2
2023-08-03 ET (fiscal 2023 q2)
2023 q1
2023-04-27 ET (fiscal 2023 q1)
2022 q4
2023-02-16 ET (fiscal 2022 q4)
2022 q3
2022-10-27 ET (fiscal 2022 q3)
2022 q2
2022-07-29 ET (fiscal 2022 q2)
2022 q1
2022-04-29 ET (fiscal 2022 q1)

Press-releases

Show financial reports only

2024-02-22 21:05 ET
AXT, Inc. Announces Fourth Quarter and Fiscal Year 2023 Financial Results
2024-01-23 21:05 ET
AXT, Inc. Schedules Fourth Quarter 2023 Earnings Release for Feb. 22, 2024
2023-11-02 20:05 ET
AXT, Inc. Announces Third Quarter 2023 Financial Results
2023-10-16 20:05 ET
AXT, Inc. Schedules Third Quarter 2023 Earnings Release for November 2, 2023
2023-09-20 20:05 ET
Tongmei Receives Initial Export Permits from China’s Central Ministry of Commerce for Gallium Arsenide and Germanium Substrates
2023-08-08 20:05 ET
AXT, Inc. Announces Financial Conference Participation for the Third Quarter 2023
2023-08-03 20:05 ET
AXT, Inc. Announces Second Quarter 2023 Financial Results
2023-07-11 20:05 ET
AXT, Inc. Schedules Second Quarter 2023 Earnings Release for August 3, 2023
2023-07-04 00:40 ET
AXT, Inc. Addresses China’s Announcement of New Export Control Regulations
2023-05-25 20:05 ET
AXT, Inc. to Participate in the 20th Annual Craig-Hallum Institutional Investor Conference
2023-04-27 20:05 ET
AXT, Inc. Announces First Quarter 2023 Financial Results
2023-04-10 20:05 ET
AXT, Inc. Schedules First Quarter Earnings Release for April 27, 2023
2023-02-16 21:14 ET
AXT, Inc. Announces Fourth Quarter and Fiscal Year 2022 Financial Results
2023-01-25 14:00 ET
AXT, Inc. Schedules Fourth Quarter and Fiscal Year 2022 Earnings Release for February 16, 2023
2022-12-28 14:05 ET
AXT, Inc. to Present at the 25th Annual Needham Growth Conference
2022-10-27 20:05 ET
AXT, Inc. Announces Third Quarter 2022 Financial Results
2022-10-03 20:05 ET
AXT, Inc. Announces a Preliminary Revenue Range for Third Quarter 2022
2022-07-28 20:05 ET
AXT, Inc. Announces Second Quarter 2022 Financial Results
2022-07-12 13:15 ET
AXT, Inc. Crosses Major Milestone on Tongmei IPO
2022-07-06 23:00 ET
AXT, Inc. Schedules Second Quarter 2022 Earnings Release for July 28, 2022
2022-07-05 20:05 ET
AXT, Inc. Announces Next Filing Step for IPO in China
2022-04-28 20:05 ET
AXT, Inc. Announces First Quarter 2022 Financial Results
2022-02-16 21:17 ET
AXT, Inc. Announces Fourth Quarter and Fiscal Year 2021 Financial Results
2022-02-07 14:00 ET
AXT, Inc. Schedules Fourth Quarter and Fiscal Year 2021 Earnings Release for February 16, 2022
2022-01-11 16:42 ET
AXT to Participate in the 24th Annual Needham Growth Conference
2022-01-10 17:41 ET
AXT, Inc. Announces Formal Application for Subsidiary IPO
2021-10-27 20:05 ET
AXT, Inc. Announces Third Quarter 2021 Financial Results
2021-10-13 20:30 ET
AXT, Inc. Schedules Third Quarter 2021 Earnings Release for October 27, 2021
2021-08-12 21:00 ET
AXT, Inc. Announces the Appointment of Morris Young as Chairman of its Board of Directors
2021-07-27 20:05 ET
AXT, Inc. Announces Second Quarter 2021 Financial Results - Revenue Reaches $33.7 Million, 52% Over Prior Year
2021-07-15 21:00 ET
AXT, Inc. Schedules Second Quarter 2021 Earnings Release for July 27, 2021
2021-04-28 20:06 ET
AXT, Inc. Supplies First 8-Inch Gallium Arsenide Wafers to Major Customer
2021-04-28 20:05 ET
AXT, Inc. Announces First Quarter 2021 Financial Results
2021-04-12 13:05 ET
AXT, Inc. Schedules First Quarter 2021 Earnings Release for April 28, 2021
2021-02-18 21:05 ET
AXT, Inc. Announces Fourth Quarter and Fiscal Year 2020 Financial Results
2021-02-10 01:00 ET
AXT, Inc. Schedules Fourth Quarter and Fiscal Year 2020 Earnings Release for February 18, 2021
2021-01-11 18:30 ET
AXT to Present at the 23rd Annual Needham Virtual Growth Conference
2021-01-06 14:05 ET
AXT Second Tranche Private Equity Investment in China Largely Complete
2020-12-09 14:05 ET
AXT Completes First Tranche Private Equity Investment in China
2020-12-03 21:05 ET
AXT Completes the Ramp of OSRAM Shipments from New, Dingxing Manufacturing Facility
2020-11-16 21:05 ET
AXT Announces Strategic Plan to Access China’s Capital Markets
2020-10-28 20:05 ET
AXT, Inc. Announces Third Quarter 2020 Financial Results
2020-10-08 01:00 ET
AXT, Inc. Schedules Third Quarter 2020 Earnings Release for October 28, 2020
2020-09-02 12:00 ET
AXT Announces Participation in Jefferies Virtual Investor Conference
2020-08-06 13:15 ET
AXT Announces Participation in Upcoming Investor Conferences
2020-07-22 20:05 ET
AXT, Inc. Announces Second Quarter 2020 Financial Results
2020-07-10 01:00 ET
AXT, Inc. Schedules Second Quarter 2020 Earnings Release for July 22, 2020
2020-05-20 13:00 ET
AXT to Participate in the 17th Annual Craig-Hallum Institutional Investor Conference
2020-05-11 20:00 ET
AXT, Inc. Announces Updates to 2020 Annual Meeting of Stockholders
2020-04-22 20:05 ET
AXT, Inc. Announces First Quarter 2020 Financial Results
2020-04-09 01:00 ET
AXT, Inc. Schedules First Quarter 2020 Earnings Release for April 22, 2020
2020-03-31 13:15 ET
AXT, Inc. Announces Milestone Customer Site Qualification
2020-02-19 21:05 ET
AXT, Inc. Announces Fourth Quarter and Fiscal Year 2019 Financial Results
2020-01-31 14:00 ET
AXT, Inc. Schedules Fourth Quarter and Fiscal Year 2019 Earnings Release for February 19, 2020
2020-01-13 19:00 ET
AXT to Present at the 22nd Annual Needham Growth Conference
2020-01-07 21:30 ET
Christine Russell Appointed to AXT, Inc. Board of Directors
2019-11-08 20:00 ET
AXT, Inc. to Participate in the 10th Annual Craig-Hallum Alpha Select Conference
2019-10-30 20:05 ET
AXT, Inc. Announces Third Quarter 2019 Financial Results
2019-10-02 21:26 ET
AXT, Inc. Updates Expectations for the Third Quarter 2019

SEC forms

Show financial reports only

SEC form 8
2024-04-08 00:00 ET
AXT published news for 2024 q1
SEC form 8
2024-04-08 00:00 ET
AXT published news for 2024 q1
SEC form 10
2024-03-15 00:00 ET
AXT published news for 2023 q4
SEC form 8
2024-02-22 16:10 ET
AXT reported for 2023 q4
SEC form 8
2024-02-22 16:10 ET
AXT published news for 2023 q4
SEC form 10
2023-11-09 00:00 ET
AXT published news for 2023 q3
SEC form 8
2023-11-02 16:10 ET
AXT reported for 2023 q3
SEC form 10
2023-08-09 00:00 ET
AXT published news for 2023 q2
SEC form 6
2023-08-03 16:12 ET
AXT reported for 2023 q2
SEC form 8
2023-08-03 00:00 ET
AXT published news for 2023 q2
SEC form 6
2023-07-05 11:00 ET
AXT published news for 2023 q2
SEC form 8
2023-07-05 00:00 ET
AXT published news for 2023 q2
SEC form 10
2023-05-10 00:00 ET
AXT published news for 2023 q1
SEC form 8
2023-04-27 00:00 ET
AXT published news for 2023 q1
SEC form 10
2023-03-16 00:00 ET
AXT reported for 2022 q4
SEC form 8
2023-02-16 00:00 ET
AXT reported for 2022 q4
SEC form 10
2022-11-10 00:00 ET
AXT reported for 2022 q3
SEC form 8
2022-10-27 00:00 ET
AXT reported for 2022 q3
SEC form 8
2022-10-03 00:00 ET
AXT published news for 2022 q3
SEC form 10
2022-08-12 00:00 ET
AXT reported for 2022 q2
SEC form 8
2022-07-28 00:00 ET
AXT reported for 2022 q2
SEC form 8
2022-07-06 00:00 ET
AXT published news for 2022 q2
SEC form 10
2022-05-09 00:00 ET
AXT reported for 2022 q1
SEC form 8
2022-04-28 00:00 ET
AXT reported for 2022 q1
SEC form 10
2022-03-15 00:00 ET
AXT published news for 2021 q4
SEC form 8
2022-02-16 00:00 ET
AXT published news for 2021 q4
SEC form 10
2021-11-12 00:00 ET
AXT published news for 2021 q3
SEC form 8
2021-10-27 00:00 ET
AXT published news for 2021 q3
SEC form 10
2021-08-12 00:00 ET
AXT published news for 2021 q2
SEC form 8
2021-07-27 00:00 ET
AXT published news for 2021 q2
SEC form 10
2021-05-14 00:00 ET
AXT published news for 2021 q1
SEC form 8
2021-04-28 00:00 ET
AXT published news for 2021 q1