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AXT vs indie Semiconductor: AXTI and INDI compared
AXT is the larger company: $73.4M of revenue in its latest quarter (Q3 2026) against $70.2M for indie Semiconductor (Q3 2026). AXT is growing faster (+163% against +31% a year earlier). AXT is more profitable, with an operating margin of 38.7% against -55.5%.
Where the money goes: AXTI and INDI
AXT (AXTI) · Q3 2026
AXT, Q3 2026: revenue $73.4M (+163% year over year), operating margin 38.7%, net earnings $25.7M. The chart follows the revenue to costs, profit and cash.
indie Semiconductor (INDI) · Q3 2026
indie Semiconductor, Q3 2026: revenue $70.2M (+31% year over year), operating margin -55.5%, net loss $39.9M, operating cash flow −$22.4M. The chart follows the revenue to costs, profit and cash.
| AXT (AXTI) | indie Semiconductor (INDI) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $73.4M | $70.2M |
| Revenue growth, Y/Y | +163% | +31% |
| Gross margin | 56.0% | — |
| Operating margin | 38.7% | -55.5% |
| Net earnings | $25.7M | −$39.9M |
| Net margin | 35.0% | -56.8% |
| Operating cash flow | — | −$22.4M |
Where the revenue comes from
indie Semiconductor
- Product: $67.5M (96%)
- Service: $2.8M (4%)
Questions
Which is bigger, AXT or indie Semiconductor?
AXT is the larger company: $73.4M of revenue in its latest quarter (Q3 2026) against $70.2M for indie Semiconductor (Q3 2026).
Is AXT or indie Semiconductor growing faster?
AXT is growing faster (+163% against +31% a year earlier).
Which is more profitable, AXT or indie Semiconductor?
AXT is more profitable, with an operating margin of 38.7% against -55.5%.
More: AXT earnings · how AXT makes money · indie Semiconductor earnings · how indie Semiconductor makes money
From the companies' latest 10-Q, 10-K or earnings release (8-K filed Oct 29, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.