AXT Reports Q3 2026 Revenue of $73.4M, Up 162% Year Over Year
AXT, Inc. reported Q3 2026 revenue of $73.4 million, up 162% year over year from $28.0 million in Q3 2025, driven by strong customer demand for indium phosphide material. GAAP net income was $25.7 million ($0.39 diluted EPS) compared to a net loss of $1.9 million ($0.04 loss per share) in the prior year period. Non-GAAP net income was $26.8 million ($0.41 per share) compared to a net loss of $1.2 million in Q3 2025. GAAP gross margin expanded to 56.0% from 22.3% in Q3 2025.
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