Filing Flows › AXT (AXTI) › Q1 2025
AXT (AXTI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 14, 2025
AXT (AXTI) reported revenue of $19.4M for the first quarter 2025 (Q1 2025), -15% from a year earlier and -23% from the quarter before. Operating margin was -53.1%, net loss $10.0M (51.7% of revenue).
AXT, Q1 2025: revenue $19.4M (-15% year over year), operating margin -53.1%, net loss $10.0M, operating cash flow −$3.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $19.4M | -23% | -15% |
| Operating profit | −$10.3M | — | — |
| Net earnings | −$10.0M | — | — |
| Operating cash flow | −$3.3M | — | — |
What changed
Revenue was $19.4M in Q1 2025, down 15% year over year and down 23% from the previous quarter. Substrates was the largest line at 57% of revenue. Substrates lost $5.8M year over year (down 34%), 175% of the total change.
Operating costs exceeded revenue by $10.3M, an operating margin of -53.1%. The quarter ended with a net loss of $10.0M, wider than the previous quarter's $5.7M loss. Minority interests bore $1.2M of it: to shareholders the quarter was a loss of $8.8M.
Operating cash flow was −$3.3M. Non-cash charges added back $2.2M of depreciation and amortization and $646K of share-based compensation. Working capital and other items added $3.8M. Capital expenditures of $510K exceeded it, leaving free cash flow of −$3.9M.
Questions
What was AXT's revenue in the first quarter 2025?
AXT (AXTI) reported revenue of $19.4M for the first quarter 2025 (Q1 2025), -15% from a year earlier and -23% from the quarter before.
Was AXT profitable in the first quarter 2025?
Operating loss was $10.3M (-53.1% of revenue) and net loss $10.0M.
Source: AXT 10-Q on SEC EDGAR.