AXT, Inc., a manufacturer of compound semiconductor wafer substrates, reported second quarter 2026 revenue of $47.6 million, up from $26.9 million in the first quarter of 2026 and $18.0 million in the second quarter of 2025, in results filed with the SEC on July 30, 2026. [1] The company recorded its highest quarterly indium phosphide revenue to date. [1] Chief executive Morris Young attributed the increase to strong customer demand for data center optical connectivity and to continued success in adding manufacturing capacity and improving productivity. [1]
GAAP gross margin was 44.9 percent of revenue in the second quarter of 2026, compared with 29.6 percent in the first quarter of 2026 and 8.0 percent in the second quarter of 2025. [1] GAAP net income was $11.1 million, or $0.17 per diluted share, compared with a net loss of $1.6 million, or $0.03 per share, in the first quarter of 2026 and a net loss of $7.0 million, or $0.16 per share, a year earlier. [1] Non-GAAP net income, which excludes stock-based compensation, was $11.9 million, or $0.19 per share. [1]
AXT manufactures indium phosphide, gallium arsenide, and germanium wafer substrates used in end markets including data center connectivity, 5G infrastructure, and passive optical networks. [1] The company maintains manufacturing facilities in three locations in China and partial ownership in more than ten Chinese companies producing raw materials for its process. [1] The filing is a Form 8-K, accession number 0001437749-26-025061, exhibit 99.1. [1] WTOP reported the results on July 30, 2026. [2]