AXT, Inc. Announces Preliminary First Quarter 2024 Revenue Results and Schedules Earnings Release for May 2, 2024

April 8, 2024

https://www.globenewswire.com/news-release/2024/04/08/2859182/0/en/AXT-Inc-Announces-Preliminary-First-Quarter-2024-Revenue-Results-and-Schedules-Earnings-Release-for-May-2-2024.html

FREMONT, Calif., April 08, 2024 (GLOBE NEWSWIRE) — AXT, Inc. (NasdaqGS: AXTI), a leading manufacturer of compound semiconductor substrates, today announced that it expects to report revenue in the range of $22.4 to $22.7 million for the first quarter ended March 31, 2024, exceeding the company’s prior guidance for the first quarter of 2024 of $20 million to $22 million. This reflects growth in demand for both indium phosphide and gallium arsenide substrates for a variety of applications, including artificial intelligence/data center connectivity, infrastructure, wireless devices, industrial lasers, and others.

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