AXT Reports Record Revenue of $47.6M for Q2 2026
AXT Inc (NASDAQ: AXTI) reported record revenue of $47.6 million in the second quarter of 2026, marking a significant increase from both the previous quarter and year-ago period. The company noted this as an inflection point signaling the start of a multiyear growth phase. Revenue was driven primarily by indium phosphide substrates used in data center applications, which reached $30.7 million—also a record for AXT. The Q2 revenue represents a 77% increase from Q1's $26.9 million and a 164% jump compared to the second quarter of 2025 ($18 million). Additional contributions came from gallium arsenide, germanium substrates, and consolidated raw material joint ventures in China. The results reflect strong demand for AXT’s products across key markets. The company's CFO highlighted improved business performance and expectations for continued growth as a result of favorable market conditions.
Tickers: $AXTI
Topics: business strategy financial performance forward-looking statements