AXT INC
For the period ended Dec 31, 2025. Filed Mar 17, 2026.
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FY2025 · Filed Mar 17, 2026
AXTI$42.91+10.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(In thousands, except per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenue | $88,326 | $99,361 | $75,795 |
| Cost of revenue | 77,084 | 75,525 | 62,477 |
| Gross profit | 11,242 | 23,836 | 13,318 |
| Operating expenses: | |||
| Selling, general and administrative | 24,169 | 24,096 | 22,806 |
| Research and development | 9,049 | 14,543 | 12,081 |
| Total operating expenses | 33,218 | 38,639 | 34,887 |
| Loss from operations | (21,976) | (14,803) | (21,569) |
| Interest expense, net | (1,257) | (1,340) | (1,527) |
| Equity in income of unconsolidated joint ventures | 765 | 3,439 | 1,884 |
| Other income, net | 924 | 2,047 | 2,179 |
| Loss before provision for income taxes | (21,544) | (10,657) | (19,033) |
| Provision for income taxes | 1,658 | 1,134 | 160 |
| Net loss | (23,202) | (11,791) | (19,193) |
| Less: Net loss attributable to noncontrolling interests and redeemable noncontrolling interests | 1,942 | 167 | 1,312 |
| Net loss attributable to AXT, Inc. | $(21,260) | $(11,624) | $(17,881) |
| Net loss attributable to AXT, Inc. per common share: | |||
| Basic | $(0.49) | $(0.27) | $(0.42) |
| Diluted | $(0.49) | $(0.27) | $(0.42) |
| Weighted-average number of common shares outstanding: | |||
| Basic | 43,933 | 43,154 | 42,643 |
| Diluted | 43,933 | 43,154 | 42,643 |
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