AXT Crushes Q2 Estimates, Guides Q3 Revenue 70% Above Consensus; Shares Surge 36%
Summary
AXT delivered a massive Q2 beat, with revenue of $47.6M (up 165% YoY) and adjusted EPS of $0.19, far exceeding the $0.07 consensus. Indium phosphide revenue hit a record $30.7M, driven by AI data center demand, and backlog now exceeds $100M. Q3 guidance is even more striking: revenue of $66M and adjusted EPS of $0.30-$0.32, both roughly 70% above Street estimates. The company is doubling InP capacity this year and expects to triple its revenue opportunity by year-end. This follows a series of long-term supply agreements with Coherent and Lumentum, underscoring the structural demand shift. Shares are up 36% premarket, reflecting the magnitude of the surprise.
At the time of this announcement, AXTI was trading at $57.27 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $1.85 to $143.16. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Benzinga.