AXT INC

For the period ended Dec 31, 2023. Filed Mar 15, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 15, 2024

AXTI$42.91+10.4%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

(In thousands, except per share data)


· · ·
· · Year Ended December 31, ·
· · 2023 · 2022 · 2021

Revenue	$75,795	$141,118	$137,393
Cost of revenue	62,477	88,997	89,979
Gross profit	13,318	52,121	47,414
Operating expenses:
Selling, general and administrative	22,806	25,654	24,189
Research and development	12,081	13,913	10,328
Total operating expenses	34,887	39,567	34,517
Income (loss) from operations	(21,569)	12,554	12,897
Interest expense, net	(1,527)	(1,071)	(213)
Equity in income of unconsolidated joint ventures	1,884	5,957	4,409
Other income, net	2,179	3,487	509
Income (loss) before provision for income taxes	(19,033)	20,927	17,602
Provision for income taxes	160	2,185	1,093
Net income (loss)	(19,193)	18,742	16,509
Less: Net (income) loss attributable to noncontrolling interests and redeemable noncontrolling interests	1,312	(2,931)	(1,934)
Net income (loss) attributable to AXT, Inc.	$(17,881)	$15,811	$14,575
Net income (loss) attributable to AXT, Inc. per common share:
Basic	$(0.42)	$0.37	$0.35
Diluted	$(0.42)	$0.37	$0.34
Weighted-average number of common shares outstanding:
Basic	42,643	42,104	41,367
Diluted	42,643	42,715	42,720

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.